Hurun Research Institute Unveils Global Cheetah Index 2023, Spotlights Most Promising Startups

• ByStartupStory     |    December 27, 2023

The Hurun Research Institute has recently released the Hurun Future Unicorns – Global Cheetah Index 2023, a comprehensive list showcasing the world’s most promising startups founded in the 2000s. These startups are identified as having the potential to reach a valuation of $1 billion and attain the coveted ‘Unicorn’ status within the next five years.

According to the report, Hurun Research has identified a total of 747 Cheetahs across 34 countries and 198 cities worldwide. On average, these startups were established in 2016 and currently boast a valuation of approximately $400 million.

The report, which was unveiled on December 19, provides various insights, including rankings of the top 50 investors in Cheetahs globally and in China based on their investments in these startups. This marks a significant expansion for Hurun Research, known for its unicorn tracking, as it ventures into global Cheetah tracking with the launch of the Hurun Cheetah Index.

The majority of these Cheetahs, 66% to be exact, 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 notable trend is the dominance of B2B startups, which account for 67% of the Cheetahs, while the remaining 33% target consumers, particularly in healthcare and financial services.

China and the USA emerge as the leaders in the Cheetah landscape, with 291 and 246 startups, respectively, collectively constituting 72% of the global Cheetah count. The UK follows closely behind with 38 Cheetahs, trailed by India with 36.

Shanghai stands out as the global Cheetah capital, hosting 64 of these startups, with Beijing surpassing San Francisco and Hangzhou. London claims the title of the Cheetah capital of Europe, boasting 28 startups, outnumbering several other European cities combined.

In terms of investment platforms, HongShan, a spin-off from Sequoia Global, is identified as the world’s most successful investment platform in the Cheetah realm, backing 60 of the known startups. Other notable investors include CICC, Matrix Partners, SoftBank, and Tiger Global Management.

Finally, the report highlights that the USA, China, India, and the UK lead in producing Unicorns, Gazelles, and Cheetahs. Gazelles are expected to become unicorns within three years, while Cheetahs are anticipated to achieve unicorn status within five years. Cities such as San Francisco, Shanghai, Beijing, New York, and London are at the forefront of this growth, with industries like Biotech and HealthTech leading the way in generating Cheetahs, while FinTech, SaaS, and E-commerce are prominent in Gazelles and Unicorns.

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