Sage , a UK-based accounting and payroll company, stated this in a research released on Friday.In a study that lists universities that have produced the most unicorn founders, the Indian Institutes of Technology (IITs) bagged the fourth spot. US-based Stanford University claimed the top rank with 51 unicorn founders, followed by Harvard University with 37. The University of California came third with 18 unicorn founders and IIT followed with 12 founders.Unicorns are startups with more than a billion-dollar valuation. India is home to 10 unicorn companies , making them the poster boys of the country's startup ecosystem. What is probably the differentiator with IIT Delhi is the culture of the institute which has been cultivated over several decades.

Source: Economic Times January 28, 2017 06:40 UTC