Türkiye: A Leading Hub for Startups and Tech Companies in EMEA

Overview : A Thriving Entrepreneurship Ecosystem

Türkiye’s entrepreneurship ecosystem has demonstrated remarkable growth and dynamism in recent years. In 2018, the country observed an investment volume of $84 million spread across 138 deals. Fast forward to 2021, including Getir’s third round of investment, and the figures dramatically increased to $1.9 billion with 343 deals. This momentum continues. 355 deals were realised in 2022 and 365 deals in 2023. In 2024, $1.1 billion were invested across 585 deals.

Insights

With a rich history of trade and commerce, coupled with recent strategic initiatives, the ecosystem has cultivated an environment for entrepreneurship.

The ecosystem stands out prominently in the Europe, Middle East, and Africa (EMEA) region investment landscape in 2021-2024 with the total investment of $7.1 billion underscored its growing influence and success in the entrepreneurial domain. This achievement is particularly noteworthy considering the competitive nature of the region. Türkiye’s performance highlights its effective strategies in nurturing innovation and showcases its evolving role as a leader in the broader EMEA region.

Hub for Scaling Startups in the Domestic Market: Türkiye’s economy, marked by its dynamic growth and diverse sectors, provides a fertile ground for startups looking to scale domestically. With a population exceeding 85 million, the country boasts a large, young, and increasingly tech-savvy consumer base. This demographic profile presents an opportunity for startups to test, refine, and grow their solutions in a substantial and varied market, making Türkiye an ideal environment for them aiming to establish a strong domestic presence.

Local Pilot Base for Global Growth Startups: Türkiye serves as an effective springboard for startups aspiring to expand globally. The country’s location as a bridge between Europe and Asia and its wide startup and talent network offer startups a unique advantage. Access to emerging and established markets and a diverse and skilled talent pool enables startups to pilot their products and services in Türkiye before scaling to international markets. This blend of local grounding and support for access to global positions Türkiye as a strategic base for startups with global ambitions.

Incubator of Deep Tech Startups for Global Markets: The country’s commitment to R&D and deep tech is evident in its substantial investments in these areas. Türkiye’s deep technical skill set, rooted in a solid educational foundation and industry collaboration, fosters an environment conducive to innovation in advanced technologies. The corporate sector’s engagement in startup development further amplifies the focus on deep tech. This synergy between academia, industry, and entrepreneurial ventures makes Türkiye an incubator for deep tech startups aiming to impact global markets. The presence of technoparks and technology development zones, offering incentives and support, underscores Türkiye’s commitment to nurturing deep tech initiatives.