New research from Money.co.uk reveals that the UK is one of thefts countries in the world for unicorn start-ups.
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What are Unicorn Start-Ups?
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Unicorn start-ups are businesses which are independently owned and valued at over $1 billion. Known as 鈥榰nicorns鈥� for their rarity, there are currently only 750 such businesses in the world according to听cbinsights.com.
Interested in finding out more about these businesses,听Money.co.uk听set out to find out which countries, and sectors, produce the start-ups that reach a $1 billion valuation fastest by analysing every unicorn company鈥檚 start date and the date of its $1 billion valuation.
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UK is the 9th Best Country in the World
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Money.co.uk听can reveal that the UK is the ninth best country in the world for unicorn start-ups.听With听31听businesses currently valued at over $1 billion, it has taken the UK鈥檚 unicorn businesses an average of听8 years and 7听months听to reach the valuation of $1 billion.
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Best Countries for Unicorn Companies
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| 听 | Country | Total number of unicorn companies | Average years taken to reach $1B |
| #1 | China | 155 | 5 years, 10 months |
| #2 | Hong Kong | 5 | 6 years, 1 month |
| #3 | Japan | 6 | 6 years, 3 months |
| =#4 | USA | 378 | 6 years, 11 months |
| =#4 | Singapore | 6 | 6 years, 11 months |
| =#4 | Australia | 6 | 6 years, 11 months |
| #7 | Israel | 17 | 7 years, 3 months |
| #8 | France | 16 | 8 years, 3 months |
| #9 | UK | 31 | 8 years, 7 months |
| #10 | India | 34 | 8 years, 9 months |
| #11 | Brazil | 12 | 8 years, 10 months |
| #12 | Canada | 12 | 10 years, 9 months |
| #13 | South Korea | 10 | 10 years, 10 months |
| #14 | Germany | 16 | 11 years, 5 months |
| #15 | Switzerland | 5 | 14 years, 11 months |
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China is Fastest Growing Country for Unicorn Companies
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The country that produces the start-ups which reach a $1 billion valuation fastest is听China, with its 155 unicorn companies taking an average of just听5 years and 10 months听to reach $1 billion.
The second fastest country for unicorn businesses to reach $1 billion is听Hong Kong, whose businesses take an average of听6 years and 1 month, followed by Japan鈥檚 which take an average of听6 years and 3 months.
Fourth spot is taken by the听USA,听Singapore, and听Australia, whose unicorn companies all took an average of听6 years and 11 months听to reach $1 billion.
The country that produces the听most unicorn businesses听is听the USA听(378 businesses), followed by听China听(155), and听India听(34).
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Best Sectors for Unicorn Companies
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| 听 | Sector | Total number of unicorn companies | Average years taken to reach $1B |
| #1 | Auto & Transportation | 31 | 4 years, 5 months |
| #2 | Artificial Intelligence | 62 | 5 years, 6 months |
| #3 | Hardware | 27 | 5 years, 7 months |
| =#4 | Mobile & Telecommunications | 35 | 6 years, 4 months |
| =#4 | E-Commerce & Direct-to-Consumer | 82 | 6 years, 4 months |
| =#6 | Supply Chain, Logistics & Delivery | 42 | 6 years, 11 months |
| =#6 | Cybersecurity | 30 | 6 years, 11 months |
| #8 | Data Management & Analytics | 27 | 7 years, 0 months |
| #9 | Fintech | 131 | 7 years, 1 month |
| #10 | Travel | 13 | 7 years, 4 months |
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