New Delhi, Jan 21 As many as 201 Indian entrepreneurs aged 36-40 were named among 505 young global business leaders who are centimillionaires, beating China and the UK, a report said on Wednesday.
Bengaluru led the country with 48 entrepreneurs featured in the list, reaffirming its position as "India’s U40 capital," said the report from Avendus Wealth Management and Hurun India.
"Across India, China and the UK, 505 entrepreneurs under the age of 40 have been featured, with 201 from India, 194 from China and 110 from the UK," it added.
To qualify, individuals must be aged between 36 and 40 years, with a minimum business valuation of $100 million for first-generation entrepreneurs and $200 million for those from second-generation backgrounds and beyond.
The report added that with 83 per cent of Indian entrepreneurs being first-generation founders, the list reflects India’s growing spirit of entrepreneurship and leadership.
Among undergraduate institutions, IIT Kharagpur led the list with 15 alumni, followed by IIT Delhi and IIT Madras with 10 each.
Software products and services dominated as the most represented industry, with 40 entrepreneurs, followed by healthcare with 18, transportation and logistics with 16, and financial services with 15.
The U40 entrepreneurs collectively employ over 4.43 lakh professionals. Collectively, the U40 leaders oversee enterprises valued at $357 bn, nearly one-eleventh of India’s GDP.
“GDP contribution and employment generation underscore the economic influence already exercised by this generation,” said Apurva Sahijwani, MD & CEO, Avendus Wealth Management.
The UK topped the list for first-generation entrepreneurs at 92 per cent, followed by India at 83 per cent and China at 72 per cent.
On gender representation, China led with 29 women, followed by India with 15. The headquarters of these ventures highlighted each country’s innovation hubs: Bengaluru in India, Shanghai in China, and London in the UK, with software products and services leading in India and China, whereas financial services stand out in the UK, the report noted.
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