Conexio consulting

TURKISH STARTUPS ARE ATTRACTING INVESTORS

The global macroeconomic situation is recovering with COVID-19 vaccinations, according to the Turkey Startup Investments Report prepared by KPMG Turkey and 212. The rising trend of the Turkish startup ecosystem continues with 57 transactions and a record investment volume of $727 million realized in the second quarter of the year.
The entrepreneurship ecosystem in Turkey has shifted to a new climate in 2021. According to the data of Startupswatch; In the first half of 2021, 129 startups broke a record with an investment of 1 billion 261 million dollars. Passing the 1 billion dollar band in investment in startups has moved Turkey from the European 1st League to the European Super League for the first time in this field. In other words, the entrepreneurship ecosystem in Turkey has entered a new lane that also includes Germany, England and France.
An important detail that draws attention in the first 6 months of 2021 data is that the startups from Istanbul are far ahead in receiving investment. Of the 129 startups that received investment, 101, or 78%, are located in Istanbul. When examined in terms of investment amount, the weight of Istanbul increases even more. Of the total investment of 1 billion 261 million dollars, 1 billion 253 million dollars, i.e. 99 percent, was received by enterprises in Istanbul. The new climate had a positive impact on the funds, as 5 new funds were established in 2021 with a total of 91 million dollars. The number of billion-dollar enterprises in Turkey was 5. Peak, Getir, Trendyol, Hepsiburada, Dream Games are on the list of billion-dollar startups.
Evaluating the new success in the entrepreneurship ecosystem, the founder of Startupswatch, Serkan Ünsal, said: “Although the first 6 months of 2021 seems to have broken a record thanks to Getir, the investment of 283 million dollars apart from Getir is actually the biggest proof of how well the ecosystem has come to. It is necessary to see 2021 as reaping the fruits of globalization. The biggest difference of the first 6 months of 2021 from other years can be explained as globalizing startups starting to receive large investments. After the Peak and Rollic exits, the activity in the gaming industry gained a great momentum. It is necessary to evaluate this acceleration well. Turkey and Istanbul may be the biggest game centers in Europe.”
The Information Commercialization Center (BTM), which was established by the Istanbul Chamber of Commerce to support new generation entrepreneurship, also makes very important contributions to Turkey’s entrepreneurship ecosystem. At BTM, a valuation of nearly 340 million TL was made for a total of 30 startups in 4 years. The total investment amount was 83 million TL and the total sales amount was 100 million TL. It is aimed that the total investment amount will exceed 100 million TL by the end of this year.

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