With increased investment, the value of technology businesses began to surpass that of huge companies in the past. Getir and Trendyol are now Turkey's most valued corporations. Trendyol and Getir achieved such high values in less than a decade, and there are many more intriguing early-stage startups to emerge. If additional quickly rising technology businesses pursue their aspirations of becoming global players, the majority of Turkey's most valued companies in 2025 will almost certainly be technology startups.
When we look at the history of success stories in Turkey, we can see that exits have reached $6 billion in the last ten years. During these years, the Turkish ecosystem has seen one decacorn and one NASDAQ-listed IPO. Given the prior success stories, more decacorns / unicorns and IPOs are predicted in the future.
When it comes to investments, the Turkish ecosystem shines out in a number of categories, including e-commerce, gaming, and grocery delivery applications. These industries account for the majority of all investments since they are mega-round.
The battle between traditional sectors and internet enterprises will continue. Yet, thanks to Turkey's cost-competitive and ambitious talent pool with expanding worldwide expertise, more global success stories of ICT businesses are projected to emerge. While Turkey's software skill pool is among the best in the world, it also offers significant cost savings when compared to global centres.
COVID-19 has aided the Turkish ecosystem in addition to attracting IT talent. Although this statement is debatable in and of itself, it is absolutely correct.
Entrepreneurs with adequate resources to develop worldwide began to build success stories swiftly as active investments increased and global investors' interest grew.
Aside from that, a new wave has formed this time, owing to the spillover effect, which arose from entrepreneurs who exited in the early 2010s and made amazing success stories locally, and entrepreneurs are ready to build worldwide success stories. Maçkolik, OpsGenie, Foriba, and yzico, for example, have worked as a university for entrepreneurs, raising dozens of bright entrepreneurs who know how to scale enterprises.
Many potential are ahead for Turkey's startup environment, with increased investor appetite and small hurdles to overcome. Keep an eye out for our upcoming study, which will focus on going global via value emphasis.
If you are considering to create a start-up, you should know about the places your services will be used. Having knowledge about Turkish start-up ecosystem will carry you one step forward in the competition. Visiting exhibits and joining workshops might help you comprehend how the Turkish startup ecosystem works. There are numerous workshops and activities you could attend, such as glass bead-making classes. Who knows, maybe you will be inspired from these activities! It certainly is better than drowning in the idea of not knowing what to do. We know that it requires a lot of research and work, but we are here to help you along the way. Contact us for more information and assistance, and we will take some of your workload, so you could enjoy the opportunities of being in Turkey
Frequently Asked Question
What are the costs of starting a business?
-This is entirely dependent on your business concept and how quickly you want to grow. The initial funding will go toward product development, team members needed to carry out the concept, and technological costs. You'll need to budget for location expenditures, extra research, and advertising as your business grows. Before you start looking for investors, you'll need to finish your idea research, business strategy, and first product development.
How do I get business funding/capital?
-Bootstrapping (your own money, friends and family), angel investors, venture capital, government loans, government subsidies, and crowdsourcing are all options for raising funds for your firm. You'll have to choose an alternative based on the maturity of your company, local initiatives or grants, and whether or not you want to rely on foreign investors.
What are the stages of startup funding?
-Every entrepreneur or business developer should be aware of the seven primary stages of startup funding. This shows a logical evolution for successful businesses, but not every one will make it to the next level.
Funding from friends and family in advance
Angel investors, incubators, and early-stage investment are examples of seed funding. Series A investment from VCs and accelerators
VCs provide Series B capital (late-stage)
Series C funding - venture capitalists (VCs), private equity companies (PE firms), and Series D funding (optional if needed)
Open to the public IPO - Initial Public Offering
Where does a startup ecosystem come from?
-An ecosystem is a linked and dynamic environment in which startups thrive, scale, and operate. It describes how a range of moving players interact and co-exist in the same way as natural ecosystems do. When a startup ecosystem is well-positioned for future development, it promotes, collaborates, and attracts fresh talent and possibilities.
How sustainable will a startup ecosystem be?
-The seamless and harmonious coexistence of all components is essential for ecosystem sustainability. This comprises educational providers, incubator and accelerator programs, investors and financing organizations, as well as private and government authorities, in addition to the businesses themselves. Each member must contribute to the ecosystem's development and well-being, whether through advertising, money, mentorship services, events, or networking. It all boils down to teamwork.