Türkiye and Portugal have announced a decision to establish a joint technology platform with the participation of institutions and companies from both countries, according to a senior business executive.
The announcement came on the sidelines of the Web Summit, one of the world’s largest technology and entrepreneurship conferences, held in Lisbon, Portugal.
“We have agreed to create a technology platform with the participation of institutions and companies from both countries,” Erdem Erkul, head of the Foreign Economic Relations Board (DEIK) Digital Business Council, said.
Represented under the council, Türkiye showcased 22 technology-focused startups and governmental institutions in a dedicated exhibition space at the event that lasted through Thursday. Participating startups gained valuable insights for growth, collaboration, and market entry abroad.
Erkul emphasized the importance of economic collaboration, highlighting the potential of the newly established Türkiye-Portugal cooperation platform.
“We previously established a similar platform with Spain, where we held our first meeting in Madrid, and we will continue in Istanbul in December. This platform, with companies and institutions from Türkiye and Portugal, will benefit both startups and large companies,” he noted.
“We aim to facilitate trade diplomacy and reduce bureaucratic barriers. This cooperation platform will provide an economic impact that will be clearly visible.”
The stand at Web Summit 2024 received a visit from Türkiye’s Ambassador to Portugal, Haldun Koç, and brought together members of the Turkish diaspora. Deputy Minister of Industry and Technology Zekeriya Coştu also engaged with Turkish startups and joined activities at the DEIK booth and Web Summit conference area.
Spotlight on 22 startups
Erkul expressed excitement over Türkiye’s presence at one of the world’s largest technology events.
“I have long referred to those who work tirelessly to make Türkiye a hub in the technology sector as ‘the unyielding ones.’ As we enhance our global business expertise, we see the importance of resilience. From gaming to artificial intelligence, numerous startups demonstrate that Türkiye’s talent pool is a critical component,” he noted.
“Twenty-two startups from Türkiye, aiming for global business growth, are participating. With the support of our institutions, DEIK will continue to bring together the unwavering ones.”
Gaming, defense, retail
Türkiye’s global reach in sectors like gaming, retail, and defense has paved the way for many startups. DEIK’s Web Summit booth showcased companies like Aselsan from the defense industry and the Startgate accelerator program supporting gaming ventures.
Other startups focusing on customer experience and marketing were also present, encouraged by Türkiye’s dynamic retail sector to develop solutions in these areas.
Differentiation through focus
TT Ventures, a venture capital subsidiary of Türk Telekom, was among the institutions participating in Web Summit 2024 with DEIK. TT Ventures supported the participation of two startups, and along with DEIK-supported ventures, they are backing companies making their way to the global stage.
TT Ventures General Manager Muhammed Özhan offered insights and said that becoming a globally competitive startup requires a solid team and a strong focus.
“Becoming a startup with the capability to operate globally requires a strong team and focus. Everyone is focusing on artificial intelligence technology, but highlighting the details of one’s expertise provides an advantage,” said Özhan.
“When working with AI, achieving scale and implementing the solution with the right models through focused efforts contributes to differentiation. In short, focus makes life easier for startups that aim to scale.”
Togg takes center stage
Togg, the manufacturer of Türkiye’s first indigenous electric vehicle brand, garnered significant attention with its exhibition space at the Web Summit’s entrance.
The company showcased its Trumore application. and the Togg 10F, fastback sedan.
Turkish startups also gathered at the Togg stand, which demonstrated advanced customer experience models in entertainment, shopping, vehicle management, and art.
From cloud computing to AI
For the second consecutive year, the joint participation of Turkish technology startups in major global entrepreneurship events like Web Summit, Slush, CES, and Web Summit Qatar is being organized in collaboration with five development agencies coordinated by the Industry and Technology Ministry.
Over 100 Turkish technology startups aiming to enter global markets have been taken to international events in Lisbon, Helsinki, Las Vegas, and Doha, with the support of the Ankara Development Agency (ANKARAKA), Istanbul Development Agency (ISTKA), Western Mediterranean Development Agency (BAKA), Bursa Eskisehir Bilecik Development Agency (BEBKA), and Izmir Development Agency (IZKA).
Web Summit 2024 featured Turkish startups specializing in AI, machine learning, digital advertising, cloud technologies, and robotics, presenting their projects to investors and institutions.
These included Bilgitransferi Technology, Codeo Engineering, CorPal Digital Health Technologies, Counterfake Software, E2P Information Technology, Finso Financial Technology Solutions, Forsico, Grispi, Kabi Partners, KAE System, Saha Robotics, Sizlik Business Project Development, Tiyatronet, WorkyBe, Wugo, MIOTE Software, Prowth, GGK Technology, Apollo XR, Girin Access Systems, Arimars Technology, Pabbler, Corridor Mobile Application, and Netta Software.
All these startups had the opportunity to present their projects to investors and institutions attending the conference.
Massive crowds
Web Summit announced that its 2024 event, which kicked off on Monday in Lisbon, had completely sold out, attracting over 70,000 participants, a record-breaking 3,000+ exhibitor companies, 1,000 investors, and 2,000 global media outlets.
What makes Web Summit so popular?
Web Summit isn’t just about the sessions onstage; it’s an event that extends into social media discussions and offers networking opportunities at dinners and entertainment venues in the evenings.
The agreement with Lisbon spans 10 years, and besides the Portuguese capital, the event is also held in Rio (Brazil) and Qatar.
The event extends into networking opportunities and has become a hub for interests in social media, fintech, AI, and sustainability.
Meetups on the sidelines of the event are focused on social media and networking, education, finance, climate change, gaming, VR and AR, data science, automotive and mobility, investment, the future of work, fintech and payments, energy, AI and machine learning, crypto, and fundraising.
Evening events, known as the Night Summit, offer further networking opportunities in Lisbon.
Digital skills from education to sales
Cerebrum Tech, an entrepreneurship studio developing sustainable solutions in artificial intelligence, the Internet of Things (IoT), game development, and Web 3.0, was among the startups represented at the Web Summit.
Cerebrum Tech develops innovative and globally standard applications in areas such as smart cities, sustainability, cybersecurity, artificial intelligence, data security, and consulting. Its activity sectors include game development, smart urban planning, education, health care, industry, automotive, and defense.
As an entrepreneurship studio that believes in the potential of young people, Cerebrum Tech aims to build sustainable bridges between the digital and physical worlds.
Measurement in digital advertising
Many institutions operate on autopilot when it comes to digital advertising. Digital advertising often lacks measurement benchmarks, but Winfluencer, a Turkish startup, offers quantifiable metrics for digital promotion.
Co-founder Funda Yener highlighted the benefits of managing digital promotion investments based on measurable values. She emphasized that participating in Web Summit with the support of DEIK aimed to find customers and investors to enter global markets.
Key Trends at Web Summit: AI, regulation, climate, funding
This year’s edition of Europe’s biggest technology summit, Web Summit, highlighted four dominant trends that captured participants’ attention: the expansion of artificial intelligence, social media regulations, climate change and green technologies, and the challenge of securing funding.
These focal points emphasized the summit’s pivotal role in shaping the future of technology and addressing its societal impacts.
AI expansion
Artificial intelligence took center stage at the summit, with discussions spanning its applications and the ethical debates surrounding its use. Talks, particularly around generative AI, focused on its potential to reshape customer experiences, drive business value, and impact society at large.
Panels featuring industry icons like Tim Berners-Lee delved into AI’s influence on business and everyday life, as attendees discussed where to begin integrating these innovations.
Green tech, climate change
With sustainability on the rise, green technology and climate solutions have been put forward as a priority. Sessions on carbon-reducing technologies, renewable energy innovations, and initiatives promoting environmental sustainability drew strong interest, underscoring the necessity of environmental responsibility in technology development.
The recent devastating flooding in Spain also underscored the urgency, prompting more in-depth conversations on climate resilience.
Social media regulations
Social media’s influence and future, especially under potential new regulatory frameworks, emerged as a crucial topic. Panelists explored the potential impact of regulatory measures from entities like the European Union and how shifting global policies may shape social media’s role.
This theme highlighted the importance of technology in guiding social behavior and shaping global communication.
Funding scarcity
Finally, the challenge of securing funding resonated with attendees, as many startups struggle to gain investor access.
While the Web Summit provided a valuable platform for startups to connect with potential investors, many noted that securing early-stage funding remains a significant barrier.
The “PITCH” competition offered entrepreneurs the chance to showcase their projects, yet interest continues to shift toward established tech companies and safer investments.
