Türkiye’s technology startup ecosystem has shown significant growth recently and has attracted $4.7 billion in investments in the last four years, according to vice president of Türkiye’s Investment Office, Bekir Polat, on Saturday.
Polat evaluated the technology ecosystem in an interview with Anadolu Agency (AA) during a major startup conference held in the Finnish capital Helsinki, Slush 2024.
“In the 2011-2021 period, our startups received approximately $810 million in investments. However, when we look at the last four years, especially if we take into account the first nine months of 2024, when an investment of $700 million was received, an investment of $4.7 billion came to Türkiye,” Polat remarked.
He noted that as the Presidency Investment Office, they aim to present Türkiye’s technology startup ecosystem in different environments, such as Slush while also recalling the participation at the recent Web Summit in Lisbon.
“We want to somehow explain both Türkiye’s developed ecosystem with all its players and the public incentives given. These events have another importance. When we look at the world recently, the investments coming from technology initiatives have a serious meaning in terms of employment, growth and other inputs in the economy,” he explained.
“We also hope that our Turkish entrepreneurs will get more of this share,” he added.
Furthermore, he pointed out at some key opportunities and value propositions that investors need to bear in mind such as the strong growth of the Turkish economy in the last two decades, a young and talented workforce, a strong entrepreneurial culture as well as unique location.
He also noted that Türkiye has seven unicorns (the term used for startups exceeding $1 billion in value), while adding “that there are many unicorn candidates in the country.”
“We are working tirelessly to cultivate more ‘Turcorns,'” Polat added, referring to a term used for Turkish unicorns.
He also recalled the recent investment strategy for the period between 2024 and 2028, emphasizing that sustainability, green transformation and digital transformation, which have become very important recently, are at the center of this strategy.
Polat, who noted that while meeting with international investors, they saw many young talents from Türkiye working in many companies and rising to higher levels, stated that young people believing in Türkiye’s potential will take the country to the next level.
“Our country, with its 85 million population in its region, an average age of 33 and a half, an educated, young, qualified and sophisticated production power, is actually, as investors sometimes say, ‘the biggest economic power and regional power between Germany and China.’ And of course, this is not enough. We have bigger goals. Hopefully, as a country, we will be working together to rise to higher levels in many areas,” he concluded.
