The 2024 Hurun Global Gazelle Report Released: US and China Lead the Way, AI as the Core Driver

The 2024 Hurun Global Gazelle Report Released: US and China Lead the Way, AI as the Core DriverOn December 18th, Hurun Research Institute, a third-party consultancy, released the 2024 Hurun Global Gazelle Report in Guangzhou. The report identifies high-growth companies founded after 2000 that are most likely to reach unicorn status (a $1 billion valuation) within the next five years the "gazelles

The 2024 Hurun Global Gazelle Report Released: US and China Lead the Way, AI as the Core Driver

On December 18th, Hurun Research Institute, a third-party consultancy, released the 2024 Hurun Global Gazelle Report in Guangzhou. The report identifies high-growth companies founded after 2000 that are most likely to reach unicorn status (a $1 billion valuation) within the next five years the "gazelles." The report reveals 928 global gazelle companies, with the US and China accounting for 359 and 304 respectively, representing 71% of the global total and establishing their absolute dominance in the global gazelle landscape. Biotechnology and health technology emerged as the hottest sectors globally.

The report covers gazelle companies across 37 countries. The US, with 359 companies, stands as the undisputed "gazelle capital" of the world. China follows closely in second place with 304, India surpasses the UK to claim third position with 52, while the UK ranks fourth with 39, a number equivalent to the combined total of France, Germany, and the Netherlands.

Industry-wise, the US and China dominate the biotechnology and health technology sectors, demonstrating their robust strength and innovative vitality in life sciences. In fintech, the US and India show stronger competitiveness, leading global innovation. China also holds a leading position in semiconductors, aligning with its national strategy of vigorously developing the integrated circuit industry.

Hurun Report founder Rupert Hoogewerf stated at the report's launch that the average age of global gazelle companies is just eight years, yet their average valuation has reached $400 million, reflecting their astonishing growth rate and immense potential. Significantly, over one-quarter of gazelle companies have incorporated artificial intelligence (AI) as a core component of their products, with AI profoundly impacting various sectors including business management, healthcare, and cybersecurity. Hoogewerf noted, "We're at the cusp of the fourth industrial revolution, and the hyper-growth of AI is disrupting virtually every industry in the world, making this perhaps the most exciting era for entrepreneurship ever." This underscores AI's crucial role in driving the growth of high-growth companies globally.

Hoogewerf also mentioned that Bitcoin's surge past $100,000 marks a milestone, likely to spawn a wave of gazelle companies related to blockchain and cryptocurrency, although currently only a few are featured in the report. He predicts that as Bitcoin's price rises, attention may shift towards startups in institutional applications, cross-border payment solutions, and regulatory technology.

Despite China's economic slowdown, Hoogewerf remains confident in its entrepreneurial ecosystem. "Despite a slowdown in the Chinese economy, the entrepreneurial ecosystem remains vibrant," he stated. In 2024, China's listed gazelles performed exceptionally well, primarily concentrating on high-tech sectors such as biotechnology, health technology, robotics, semiconductors, and new energy. The top three Chinese gazelle companies are Yunqi (Hangzhou Yunzhi Zhongqi Technology Co., Ltd.), Xingtong Medical (Xingtong Medical Technology Shanghai Co., Ltd.), and Likron Technology (Shanghai Likron Technology Co., Ltd.), representing China's innovation prowess in high-tech fields.

In China, the top five cities for gazelle companies are Shanghai (68), Beijing (56), Shenzhen (35), Hangzhou (34), and Guangzhou (26). These cities concentrate abundant innovative resources and talent, providing fertile ground for gazelle company growth.

Hoogewerf concluded by highlighting Elon Musk as a role model for global entrepreneurs, inspiring the next generation to pursue ambitious dreams and achieve remarkable feats in their respective fields. Musk's success offers valuable lessons for global entrepreneurs, injecting new vitality into the future entrepreneurial wave.

The release of the 2024 Hurun Global Gazelle Report not only showcases the vibrant growth of high-growth companies globally but also provides crucial insights into understanding the global entrepreneurial ecosystem and grasping future technological trends. The US and China's dominance, the prominence of biotechnology and health technology, and AI's role as a key driver are all points warranting continued attention and in-depth study. As technology advances and the global economy continues to develop, we can expect more innovative and high-growth gazelle companies to emerge, driving global economic prosperity. China will continue to play a significant role in this process, contributing to global economic development. Simultaneously, it is crucial to monitor the development of gazelle companies in other countries and regions, gaining a comprehensive understanding of the global entrepreneurial ecosystem to better grasp future trends. The success of Elon Musk, as highlighted in the report, serves as valuable inspiration and motivation for Chinese entrepreneurs. In conclusion, the 2024 Hurun Global Gazelle Report provides essential insights into understanding global economic and technological trends and illuminates the path for Chinese entrepreneurs.