Unicorns are startups valued at over <head> billion, and are among the one of the main indicators of an ecosystem’s maturity, capital access, and ability to scale globally. In the 2025 data, unicorn distribution remains highly concentrated, with just ten countries accounting for the overwhelming majority of the world’s billion-dollar startups. StartupBlink’s dataset highlights where these unicorns are being created, with deep concentrations in the United States and China, followed by significant but smaller clusters around the world. Below, we break down the Top Unicorn Cities and Countries, alongside their leading cities. Together, these ten countries produce 1,032 unicorns, representing nearly 87% of the global total. Want to see how these countries perform across the entire startup ecosystem? Download the Global Startup Ecosystem Index 2025 to explore rankings for 1,400 cities and 110 countries worldwide. Top Unicorn Hubs - Number of Unicorns by Country United StatesUnicorn count: 617The United States continues to dominate, hosting more unicorns than the rest of the world combined. San Francisco (271) and New York (124) stand as the top two ecosystems, together accounting for more than 64% of the national total. Other strong hubs include Los Angeles (37), Boston (25), Austin-Round Rock (16), and Chicago (14). Smaller but growing unicorn centers include Seattle, Denver, Washington DC, Miami, and San Diego, each with 8–14 unicorns. Even mid-tier cities such as Detroit, Houston, Atlanta, and Philadelphia continue to add to the total, reflecting the broad geographic spread of unicorn creation across the country.ChinaUnicorn count: 157China ranks 2nd globally, with unicorns concentrated in a handful of large innovation centers. Beijing (63) and Shanghai (38) lead the way, jointly producing nearly two-thirds of the country’s unicorns. Other key hubs include Shenzhen (17), Hangzhou (11), and Hong Kong (10), followed by emerging ecosystems like Guangzhou (2) and Nanjing (4).IndiaUnicorn count: 68India takes 3rd place globally. The ecosystem is led by Bangalore (32), followed by Mumbai (16) and New Delhi (13), which together account for more than 90% of India’s unicorns. Secondary hubs such as Pune (4), Hyderabad (1), Chennai (1), and Jaipur (1) have also entered the unicorn map.United KingdomUnicorn count: 51The UK is Europe’s unicorn leader, anchored by London (42), which alone accounts for over 80% of the national total. Smaller contributions come from Manchester (3), Cambridge (1), and university-driven hubs like Oxford (1) and Bristol (1).GermanyUnicorn count: 31Germany ranks 5th globally, with unicorn creation spread across several cities. Berlin (21) leads by a large margin, followed by Munich (5), while smaller ecosystems such as Hamburg (1), Cologne (1), contribute modestly. Berlin alone accounts for more than two-thirds of the country’s unicorns, underlining its role as Germany’s central innovation hub.FranceUnicorn count: 29France’s unicorn scene is dominated by Paris (28), which accounts for virtually the entire national count. The only other French city with a unicorn is Lille (1). Paris’ dominance highlights the centralization of France’s startup ecosystem.IsraelUnicorn count: 25Israel holds 7th place worldwide, with unicorns clustered in Tel Aviv-Yafo (22). Smaller hubs include Jerusalem (2) and Haifa (1). Remarkably, with a population of under 10 million, Israel has built one of the world’s densest unicorn ecosystems, with Tel Aviv alone accounting for nearly 90% of the national total.CanadaUnicorn count: 20Canada’s unicorn count is distributed across multiple hubs, led by Toronto (10) and Vancouver (6). Montreal (3) and Ottawa (1) contribute to the total, showing a decentralized but strong innovation landscape across the country’s major metropolitan areas.BrazilUnicorn count: 19Brazil is Latin America’s clear unicorn leader. São Paulo (15) is the dominant hub, accounting for nearly 80% of the country’s unicorns. Smaller contributions come from Curitiba (3) and Campinas (1). São Paulo’s dominance reflects its role as both a national and continental anchor for unicorn creation.SingaporeUnicorn count: 15Singapore City hosts all 15 of Singapore’s unicorns, consolidating the city-state’s position as a regional headquarters for Southeast Asia. With a population of under 6 million, Singapore’s high unicorn density reflects its global orientation, strong investment climate, and role as a startup hub for the entire region. Top Unicorn Hubs - Number of Unicorns by City The top 10 cities concentrate over 60% of the world’s unicorns, showing how scaleups remain clustered in a few global hubs. San Francisco alone accounts for 19% of the total, more than the combined output of China, India, and the UK. San FranciscoUnicorn count: 271San Francisco le