Turkish technology entrepreneurs receive $4.7B investment in 4 years

Deputy President of the Presidential Investment Office, Bekir Polat, highlighted the significant growth of Türkiye’s technology startup ecosystem, as it attracted $4.7 billion in investments over the past four years, including $700 million during the first nine months of 2024.

Polat made his statements at Slush, one of Europe’s leading technology and startup events, held in Helsinki, Finland. Regarding Türkiye’s startups securing approximately $810 million in investments between 2011 and 2021, Polat pointed to the exponential growth in recent years.

Türkiye: The largest economic power between Germany and China

Polat drew attention to the success of Türkiye’s unicorn startups—entrepreneurs valued at over $1 billion, indicating that Türkiye currently boasts seven unicorns, with many others aspiring to join their ranks. “We are working tirelessly to cultivate more ‘Turcorns,'” Polat added, referencing a term uniquely coined for Turkish unicorns.

Polat further shared insights from his discussions with international investors, noting that numerous young Turkish professionals are contributing to global firms and advancing to leadership roles. Reflecting the potential of Türkiye’s youth to elevate the nation on the global stage, Polat emphasized Türkiye’s definitive role in its region by economic power:

Our country, with its population of 85 million and a median age of 33.5, boasts a highly educated, skilled, and sophisticated workforce. As some investors have remarked, Türkiye is the largest economic power between Germany and China. We are setting our sights on even greater achievements and will continue working collectively to reach higher levels in all areas.