The Hurun Research Institute has unveiled the Hurun Future Unicorns – Global Cheetah Index 2023, a list spotlighting the world's most promising startups founded in the 2000s which are most likely to hit the $1 billion valuation in the next five years and attain the 'Unicorn' status.
Hurun Research identified a total of 747 Cheetahs across 34 countries and 198 cities globally. On average, these startups were established in 2016, boasting a current valuation of approximately $400 million.
The report, released on December 19, encompasses a range of insights, including the Most Successful Cheetah Investors in the World 2023, ranking the top 50 investors, as well as the Most Successful Cheetah Investors in China 2023, based on their investments in Cheetahs. This unveiling marks a pivotal moment for Hurun Research, expanding its renowned unicorn tracking globally for the first time with the launch of the Hurun Cheetah Index.
According to the report, 66% of these Cheetahs are engaged in software and services, with Enterprise Services, FinTech, HealthTech, Biotech, and SaaS leading the pack. Meanwhile, 34% of the startups focus on physical products, primarily in Biotech, HealthTech, Smart Chips, and Robotics.
A significant trend emerged, with 67% of Cheetahs catering to businesses, while the remaining 33% target consumers, primarily disrupting healthcare and financial services.
China and the USA dominate the Cheetah landscape, boasting 291 and 246 startups, respectively, collectively accounting for 72% of the global Cheetah count. The UK claims the third spot with 38 Cheetahs, closely followed by India with 36.
Shanghai emerges as the global Cheetah capital, hosting 64 of these startups. Beijing follows, surpassing San Francisco and Hangzhou. London, on the other hand, holds the title of the Cheetah capital of Europe, boasting 28 startups, outnumbering Paris, Berlin, Oxford, Basel, and Munich combined.
Asia leads in creating Cheetahs globally, outpacing North America in startup innovation. Biotech and HealthTech take the lead in Cheetah core businesses, followed by Enterprise Services, FinTech, and E-commerce.
HongShan, a spin-off from Sequoia Global, emerges as the world's most successful investment platform in the Cheetah realm, backing 60 of the known startups. Notable mentions include CICC, Matrix Partners, SoftBank, and Tiger Global Management.
In terms of the highest number of Unicorns, Gazelles, and Cheetahs, the USA, China, India, and the UK emerge as the leading countries. A Gazelle is expected to become a unicorn within three years, while a Cheetah is anticipated to achieve unicorn status within five years.
Cities such as San Francisco, Shanghai, Beijing, New York, and London are at the forefront, while industries like Biotech and HealthTech generate more Cheetahs, with FinTech, SaaS, and E-commerce leading in Gazelles and Unicorns.
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