In a remarkable surge, Turkish startups have captured the attention of global investors, securing approximately $3.5 billion in investments over the past three years, with a substantial portion hailing from overseas. This flourishing trend places Turkish startups ahead of many European counterparts, marking a notable boom in the nation’s entrepreneurial landscape.
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“In five years, our vision is quite ambitious,” declared Ali Kocer, Managing Partner and Co-founder of Bottobo Robotics. “We want to grab at least 2 percent market share from the robotics industry, which is valued at around $20 billion.”
Turkish Startups Shine on Global Stage, Attracting $3.5B in Investments Over Three Years
Türkiye ranked 12th in Europe for startup investments last year, with Istanbul claiming an impressive 6th position among European cities. Istanbul further solidified its standing by securing the 2nd spot in the gaming industry across Europe, trailing only behind London.
A. Burak Daglioglu, President of Türkiye’s Investment Office, highlighted the substantial foreign interest in Türkiye’s technology sector. Last year alone witnessed 277 startup deals, according to KPMG’s Turkish Startup Investments Review 2022, marking a notable increase from 255 deals in 2021. The total value of these deals surged to $1.84 billion from $1.4 billion over the two years.
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The trajectory of Türkiye’s startup landscape gained momentum in 2017, propelled by seasoned venture capitalists who contributed to launching global successes such as the delivery company Getir.
Daglioglu underscored the role of investor-side developments and legislative changes, which have played a pivotal role in propelling Türkiye to new heights in the global startup arena. The nation’s tech ecosystem appears poised for continued growth and success, drawing attention for its entrepreneurial vigor and attracting substantial investments from around the world.
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