Entrepreneurs from all across the globe seek to develop, and validate a scalable economic model. US companies now make up 60 percent of the top-10 startups, the remaining being Chinese or Indian.
Here is a list of the world's most valuable startups:
According to CB insights, Chinese ai company Bytedance, the parent company of TikTok, is the highest-valued startup, currently a private, up-and-coming company, in the world.
The venture which is valued at $140 billion is running content platform Toutiao in China, which uses machine learning to tailor a newsfeed for each individual viewer out of traditional and new media sources.
Earlier this summer, the US government announced it was considering banning Chinese social media apps, including the highly popular app TikTok.
(Photograph:Reuters)
One97 Communications is India's leading mobile-internet company. Driven by great consumer experience, it offers digital goods & services to mobile consumers under Paytm brand. It is worth $16 billion and is the world's ninth most valuable startup in the world.
(Photograph:Twitter)