During 2024, a total of $111 million was invested in 161 investment rounds, including seed, early, and late-stage investments, setting a record level of investment seen in Turkey’s all-time highest quarter. Here is the Turkey Entrepreneurship Ecosystem 2024 report…
Turkey’s Entrepreneurial Ecosystem Gains Momentum in 2024!
During this period, a total of $111 million was invested in 161 investment rounds, including seed, early, and late-stage investments, setting a record level of investment seen in Turkey’s all-time highest quarter.
The impressive support provided by the TÜBİTAK BiGG Fund for pre-seed investments was one of the main drivers of growth. It accounted for 107 out of the total 161 investments made. With this move, Turkey ranked second in seed-stage investments in Europe and first in the MENA region.
As mentioned, Turkey is now a leader in pre-seed investments both in Europe and the MENA region. This success has been made possible through strong support and incentives provided to the country’s young startups.
Take Off Startup Summit, will be held on December 5-6, 2023, Istanbul Lutfi Kirdar International Convention and Exhibition Centre.
Especially, gaming startups showed remarkable growth. Turkey ranked 7th in Europe in terms of gaming investment size and 2nd in terms of investment count. In the MENA region, gaming investments ranked 2nd in size and 1st in count.
The first quarter of 2024 also witnessed some significant strategic acquisitions in Turkey. Re-Pie’s acquisition of Modanisa, one of Turkey’s leading e-commerce companies, and Papara’s acquisition of T-Bank stood out as important developments demonstrating the dynamics and growth potential in the sector.
With its growth rate, investment diversity, and strategic moves, Turkey has become an attractive hub for investors and entrepreneurs alike. Investments made in areas such as biotechnology, artificial intelligence, and healthcare technologies have positioned the country as a leader in technology and innovation.
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