TLDR:
- International venture capital funds are eager to invest in Türkiye, according to Industry and Technology Minister Mehmet Fatih Kacır.
- Türkiye has seen a significant increase in investment in tech startups, with the emergence of billion-dollar unicorns referred to as “Turcorns.”
International venture capital funds are showing interest in investing in Türkiye due to the advanced level of Turkish startups and strategic initiatives in various key areas such as health technologies, green transformation technologies, digital transformation technologies, and artificial intelligence. The Industry and Technology Minister highlighted Türkiye’s success in next-generation mobility technologies and emphasized the country’s role as a global example of utilizing public resources effectively to support technology startups. The Minister shared that between 2020 and 2023, Turkish tech companies and startups received $4 billion in investments, a significant increase from the previous decade.
Türkiye’s success in fostering technology startups has led to the emergence of billion-dollar unicorns, or “Turcorns,” in sectors like gaming, e-commerce, software, and fintech. The Minister outlined a vision to create 100,000 technology startups by 2030, with 100 achieving Turcorn status. Türkiye aims to strengthen international collaborations and promote its success stories in technology entrepreneurship to the world to achieve this vision. The minister also highlighted the innovation-friendly regulatory environment in Türkiye, particularly in the fintech sector, and mentioned new legislation on cryptocurrency assets being drafted in Parliament.
Discussions also revolved around the improvement of Türkiye’s macroeconomic indicators, with a focus on the rapid decline in credit default swaps (CDS) as a positive sign for the country’s economy. Minister Kacır expressed optimism about the future, anticipating a significant acceleration of investments in Türkiye supported by international investors and venture capital funds.
