Source | economictimes.indiatimes.com | Brinda Sarkar, ET Bureau
Only 33% of CFOs hired by unicorns were hired from other startups in India, indicating a higher reliance on talent from traditional sectors, finds a new study.
BFSI, industrial and FMCG are the top three sources of the remaining 67% of the non-startup talent pool, according to the survey ‘Unicorn CFO Hiring in India and the USA’, by executive search firm WalkWater Talent Advisors.
In contrast, in the US, 72% of unicorn CFOs were hired from other startups with enterprise SaaS and fintech emerging as the top talent sources.
After the Covid pandemic, India has experienced a significant surge in the number of unicorns, many of which have plans to launch their initial public offerings (IPOs) in the next few years. These Indian unicorns are estimated at over $350 billion in valuation. However, the last few months have witnessed a funding winter.