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What is the story about?
The Avendus Wealth–Hurun India U35 List 2026 features 180 young entrepreneurs building businesses across India and overseas. The second edition, released on October 15, is up 16% from 155 entrepreneurs in 2025.
The companies represented by these entrepreneurs have a combined valuation of ₹48 lakh crore, an increase of 23% over last year. According to the report, the 180 entrepreneurs collectively employ more than 5.88 lakh people. Their businesses include 37 companies valued at over $1 billion.
Who are the youngest entrepreneurs on the U35 List 2026?
Anmol Bhansali, 31, managing director of Goldiam International, is the youngest leader on the list. Romita Mazumdar, 31, founder of skincare brand Foxtale, is the youngest woman featured in the 2026 edition.
The 10 youngest entrepreneurs on the list are all 31 years old.
Ayush Sinhal, 35, co-founder of Kimbal, has the longest entrepreneurial experience among the people featured, with 15 years in business. Ananya Birla, 32, of Svatantra Microfin and Madhur Gupta, 35, of Lloyds Metals & Energy follow with 14 years of entrepreneurial experience each.
First-generation entrepreneurs make up 71% of the list
First-generation entrepreneurs account for 71% of the 180 people featured in the 2026 list. This means 127 entrepreneurs built businesses without carrying forward an existing family enterprise.
The remaining 53 are next-generation business leaders. Of these, 16% of the total list are second-generation entrepreneurs, 9% are third-generation leaders, and 4% belong to the fourth generation or later.
The report includes young leaders from established business groups and companies such as Reliance, Nykaa, Welspun, Sun TV Network, Torrent Pharmaceuticals, Balrampur Chini Mills and Shapoorji Pallonji.
Women account for 12.8% of the U35 List
The 2026 list features 23 women entrepreneurs, accounting for 12.8% of the total. Their representation has increased from 9.7% in 2025, marking a 53% rise, according to the report.
The women featured include Romita Mazumdar of Foxtale, Ananya Birla of Svatantra Microfin, Adwaita Nayar of Nykaa, Isha Ambani of Reliance Retail Ventures, Kaviya Kalanithi Maran of Sun TV Network, Minu Margaret of BlissClub and Prukalpa Sankar of Atlan.
The list includes 12 women from next-generation business families and 11 first-generation founders.
Bengaluru leads, followed by Mumbai and New Delhi
Bengaluru has the highest number of entrepreneurs on the list, with 52. Mumbai ranks second with 30, followed by New Delhi with 25.
Gurugram has 14 entrepreneurs, while San Francisco and Ahmedabad have 10 each. Noida has seven, Hyderabad five, and Pune and Kolkata have three each.
At the state and regional level, Karnataka leads with 53 entrepreneurs, followed by Maharashtra with 35 and Delhi with 25. Haryana has 14, Gujarat 12 and California 10.
Bengaluru is also the leading location for company headquarters, with 35 businesses represented on the list. Mumbai follows with 28, while Gurugram has 14. New Delhi and Noida have nine company headquarters each.
Software, FinTech and education lead the industries
Software Products & Services is the most represented industry, with 18 entrepreneurs. FinTech ranks second with 17, followed by Education & EdTech with 15. Artificial Intelligence and Machine Learning has moved into fourth place, with 12 entrepreneurs, compared with just three in the previous edition.
The AI and ML group includes Aravind Srinivas of Perplexity, Ashwin Sreenivas of Decagon AI, Mayank Bhola of TestMu AI and founders of Flam.
Media and Entertainment has 10 entrepreneurs, while healthcare and food and beverages have nine each. Real Estate, Consumer Goods, and Clean Energy & Renewables have seven entrants each.
The report also identifies 21 entrepreneurs working in DeepTech and HardTech. These include 12 in AI and ML, four in SpaceTech, three in Aerospace & Defence and two in Cybersecurity.
Clean energy is another area represented on the list. Seven entrepreneurs are associated with the sector, including Chirag Nakrani and Hardik Kothiya of Rayzon Solar and Neelesh Garg and Manik Garg of Saatvik Green Energy.
IIT Delhi leads undergraduate institutions
IIT Delhi has the highest number of undergraduate alumni on the list, with 11 entrepreneurs. IIT Kharagpur follows with 10, while IIT Madras and the University of Delhi have seven each. IIT Roorkee and IIT Bombay have six alumni each.
For postgraduate education, IIT Madras and the Indian School of Business lead with five alumni each. IIT Bombay follows with four, while IIT Kharagpur has three. Harvard Business School, the University of Michigan, IIT Kanpur and Stanford University have two alumni each.
Ritesh Agarwal has the highest LinkedIn following
Ritesh Agarwal, founder of OYO's parent company PRISM, has the highest LinkedIn following among the entrepreneurs on the list, with 14.97 lakh followers. Aravind Srinivas of Perplexity ranks second with 9.08 lakh followers, followed by Alakh Pandey of Physics Wallah with 5.70 lakh.
Ananya Birla has 3.79 lakh followers, while Pratham Mittal of Masters' Union has 1.30 lakh. Harshil Mathur of Razorpay and Ajinkya Kulkarni of Wint Wealth also feature among the 10 most-followed entrepreneurs.
37 companies are valued at more than $1 billion
The report lists 37 companies led by U35 entrepreneurs with valuations above $1 billion. Another 26 companies are valued between $501 million and $1 billion, while 46 have valuations between $101 million and $500 million.
A further 25 companies are valued between $50 million and $100 million.
How does India compare with China and the UK?
The report compares its India list with Hurun's U35 lists for China and the UK. Together, the three lists feature 343 entrepreneurs under the age of 35: 180 from India, 101 from China and 62 from the UK.
The UK has the highest share of first-generation entrepreneurs, at 85%. India follows with 71%, while China has 63%. India has the highest number of women featured, at 23, compared with 21 in China and 10 in the UK.
Bengaluru is the leading headquarters city in the Indian list, Beijing leads in China, and London leads in the UK. Software Products & Services is the leading industry in India and China, while Apparel & Accessories leads in the UK.
What is the Avendus Wealth-Hurun India U35 List?
The Avendus Wealth-Hurun India U35 List is an annual compilation of entrepreneurs and business leaders aged 35 or younger. The 2026 edition is the second year of the partnership between Avendus Wealth and Hurun India.
Under the eligibility criteria, first-generation entrepreneurs must have a minimum company valuation of $50 million. For next-generation leaders from established family businesses, the minimum valuation is $100 million.
The companies represented by these entrepreneurs have a combined valuation of ₹48 lakh crore, an increase of 23% over last year. According to the report, the 180 entrepreneurs collectively employ more than 5.88 lakh people. Their businesses include 37 companies valued at over $1 billion.
Who are the youngest entrepreneurs on the U35 List 2026?
Anmol Bhansali, 31, managing director of Goldiam International, is the youngest leader on the list. Romita Mazumdar, 31, founder of skincare brand Foxtale, is the youngest woman featured in the 2026 edition.
The 10 youngest entrepreneurs on the list are all 31 years old.
| Entrepreneur | Age | Company |
|---|---|---|
| Shourya Agarwal | 31 | Flam |
| Ashwin Sreenivas | 31 | Decagon AI |
| Dhruv Jain | 31 | Varroc Engineering |
| Denil Chawda | 31 | GalaxEye |
| Manik Garg | 31 | Saatvik Green Energy |
| Tapan Agarwal | 31 | Agarwal Coal |
| Suvir Bector | 31 | Mrs Bectors Food Specialities |
| Bahirji A Ghorpade | 31 | Sandur Manganese & Iron Ores |
| Avendus Wealth-Hurun India U35 List 2026 | ||
Ayush Sinhal, 35, co-founder of Kimbal, has the longest entrepreneurial experience among the people featured, with 15 years in business. Ananya Birla, 32, of Svatantra Microfin and Madhur Gupta, 35, of Lloyds Metals & Energy follow with 14 years of entrepreneurial experience each.
First-generation entrepreneurs make up 71% of the list
First-generation entrepreneurs account for 71% of the 180 people featured in the 2026 list. This means 127 entrepreneurs built businesses without carrying forward an existing family enterprise.
The remaining 53 are next-generation business leaders. Of these, 16% of the total list are second-generation entrepreneurs, 9% are third-generation leaders, and 4% belong to the fourth generation or later.
The report includes young leaders from established business groups and companies such as Reliance, Nykaa, Welspun, Sun TV Network, Torrent Pharmaceuticals, Balrampur Chini Mills and Shapoorji Pallonji.
Women account for 12.8% of the U35 List
The 2026 list features 23 women entrepreneurs, accounting for 12.8% of the total. Their representation has increased from 9.7% in 2025, marking a 53% rise, according to the report.
The women featured include Romita Mazumdar of Foxtale, Ananya Birla of Svatantra Microfin, Adwaita Nayar of Nykaa, Isha Ambani of Reliance Retail Ventures, Kaviya Kalanithi Maran of Sun TV Network, Minu Margaret of BlissClub and Prukalpa Sankar of Atlan.
The list includes 12 women from next-generation business families and 11 first-generation founders.
Bengaluru leads, followed by Mumbai and New Delhi
Bengaluru has the highest number of entrepreneurs on the list, with 52. Mumbai ranks second with 30, followed by New Delhi with 25.
Gurugram has 14 entrepreneurs, while San Francisco and Ahmedabad have 10 each. Noida has seven, Hyderabad five, and Pune and Kolkata have three each.
At the state and regional level, Karnataka leads with 53 entrepreneurs, followed by Maharashtra with 35 and Delhi with 25. Haryana has 14, Gujarat 12 and California 10.
Bengaluru is also the leading location for company headquarters, with 35 businesses represented on the list. Mumbai follows with 28, while Gurugram has 14. New Delhi and Noida have nine company headquarters each.
Software, FinTech and education lead the industries
Software Products & Services is the most represented industry, with 18 entrepreneurs. FinTech ranks second with 17, followed by Education & EdTech with 15. Artificial Intelligence and Machine Learning has moved into fourth place, with 12 entrepreneurs, compared with just three in the previous edition.
The AI and ML group includes Aravind Srinivas of Perplexity, Ashwin Sreenivas of Decagon AI, Mayank Bhola of TestMu AI and founders of Flam.
Media and Entertainment has 10 entrepreneurs, while healthcare and food and beverages have nine each. Real Estate, Consumer Goods, and Clean Energy & Renewables have seven entrants each.
The report also identifies 21 entrepreneurs working in DeepTech and HardTech. These include 12 in AI and ML, four in SpaceTech, three in Aerospace & Defence and two in Cybersecurity.
Clean energy is another area represented on the list. Seven entrepreneurs are associated with the sector, including Chirag Nakrani and Hardik Kothiya of Rayzon Solar and Neelesh Garg and Manik Garg of Saatvik Green Energy.
IIT Delhi leads undergraduate institutions
IIT Delhi has the highest number of undergraduate alumni on the list, with 11 entrepreneurs. IIT Kharagpur follows with 10, while IIT Madras and the University of Delhi have seven each. IIT Roorkee and IIT Bombay have six alumni each.
For postgraduate education, IIT Madras and the Indian School of Business lead with five alumni each. IIT Bombay follows with four, while IIT Kharagpur has three. Harvard Business School, the University of Michigan, IIT Kanpur and Stanford University have two alumni each.
Ritesh Agarwal has the highest LinkedIn following
Ritesh Agarwal, founder of OYO's parent company PRISM, has the highest LinkedIn following among the entrepreneurs on the list, with 14.97 lakh followers. Aravind Srinivas of Perplexity ranks second with 9.08 lakh followers, followed by Alakh Pandey of Physics Wallah with 5.70 lakh.
Ananya Birla has 3.79 lakh followers, while Pratham Mittal of Masters' Union has 1.30 lakh. Harshil Mathur of Razorpay and Ajinkya Kulkarni of Wint Wealth also feature among the 10 most-followed entrepreneurs.
37 companies are valued at more than $1 billion
The report lists 37 companies led by U35 entrepreneurs with valuations above $1 billion. Another 26 companies are valued between $501 million and $1 billion, while 46 have valuations between $101 million and $500 million.
A further 25 companies are valued between $50 million and $100 million.
How does India compare with China and the UK?
The report compares its India list with Hurun's U35 lists for China and the UK. Together, the three lists feature 343 entrepreneurs under the age of 35: 180 from India, 101 from China and 62 from the UK.
The UK has the highest share of first-generation entrepreneurs, at 85%. India follows with 71%, while China has 63%. India has the highest number of women featured, at 23, compared with 21 in China and 10 in the UK.
Bengaluru is the leading headquarters city in the Indian list, Beijing leads in China, and London leads in the UK. Software Products & Services is the leading industry in India and China, while Apparel & Accessories leads in the UK.
What is the Avendus Wealth-Hurun India U35 List?
The Avendus Wealth-Hurun India U35 List is an annual compilation of entrepreneurs and business leaders aged 35 or younger. The 2026 edition is the second year of the partnership between Avendus Wealth and Hurun India.
Under the eligibility criteria, first-generation entrepreneurs must have a minimum company valuation of $50 million. For next-generation leaders from established family businesses, the minimum valuation is $100 million.
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