Türkiye’s entrepreneurial ecosystem moved onto another climate in 2021. Last year, startups drew US$ 1.6 billion worth of investment in 262 and broke yet another record. Exceeding the band of US$ 1 billion in investments in startups carried Türkiye to Europe’s Super League from Europe’s 1st League in this area. In other words, Türkiye’s entrepreneurial ecosystem now remains at the top rank that also hosts Germany, the United Kingdom and France. Initiatives in Türkiye achieved US$ 757 million worth of investment in 2010-2020. The success achieved in 2021 raised the bar for future expectations. The new target is becoming permanent in the European Super League regarding startup investments and making more remarkable achievements.

GLOBALIZED ENTERPRISES

Founder of Startupswatch Serkan Ünsal evaluated Türkiye’s new achievements in the entrepreneurial ecosystem and said: “The US$ 1.6 billion investment in startups in 2021 is the evidence of the level reached by the ecosystem. 2021 should be regarded as the year for reaping the fruits of globalization. 2021’s biggest difference from the other years is the globalized enterprises’ attraction of higher investments. The game sector’s dynamism gained massive momentum after Peak and Rollic’s exits. Türkiye and Istanbul may become Europe’s greatest game centres.”

LEADING ISTANBUL

Istanbul’s leadership in the entrepreneurial ecosystem draws attention. The enterprises in Istanbul received over 90% of the investments in 2021. Serkan Ünsal noted that Istanbul would continue to be the leader in startup investments and added, “Despite the growing telecommuting trend due to the pandemic, Istanbul is well ahead of Türkiye’s other cities, it is even ahead of European cities and that will not change. Istanbul will remain at the top ranks as globalized enterprises wishing to create solutions to world’s problems continue to emerge.”

FIVE UNICORNS AT THIS STAGE

Presently, there are five unicorns, five investments worth US$ 1 billion in Türkiye. The list of these enterprises: Peak, Getir, Trendyol, Hepsiburada, Dream Games. Moreover, ten more enterprises with an increasing value are stated to advance on the path of becoming unicorns. The enterprises expected to become unicorns in the upcoming period are as follows: Modanisa, Insider, Good Job Games, Fugo Games, Alictus, Vivense, Meditopia, Martı, Paycore, Ace Games. Experts’ projections suggest that Türkiye’s unicorns would reach 15 in the short run as these enterprises achieve the unicorn value.

ICOC’S SUPPORTS VIA BTM

Founded by the Istanbul Chamber of Commerce to support new-generation entrepreneurship, the Commercialization Center of Istanbul (BTM) turned into a critical centre for Türkiye’s startup ecosystem. The total valuation amount of BTM enterprises reached TRY 996 million in the 4.5 years. The year 2021 was also a year of new record-breaking achievements for BTM. When 21 enterprises received TRY 204 million and 60 thousand investment in 2020, this figure reached TRY 625 million and 260 thousand in 2021. BTM’s performance by the year 2021 was 180 times higher than its success in 2017. BTM’s General Manager, İbrahim Elbaşı noted that 2021 went into history as an unforgettable year for Türkiye’s entrepreneurial ecosystem and added, “Because the investments in the ecosystem and Turkish enterprises achievements made their mark on 2021. The year 2021 was also a record-breaking year for BTM. I believe that 2022 will be an even better one.”

TEKNOPARK ISTANBUL CUBE INCUBATION

Founded by the Presidency of Defence Industries and Istanbul Chamber of Commerce, technology development zone Teknopark Istanbul also contributes to startups’ progress. As Teknopark Istanbul’s incubation centre, Cube Incubation hosts an ecosystem that gathers entrepreneurs, investors and other stakeholders with innovative and deep technology-based business ideas. Cube Incubation moved to a new centre with a 10 thousand square meter area and continues to serve the entrepreneurs with the prototype workshops, post-incubation, cyber security incubation centre, medical/bio-engineering incubation centre and various recreational areas.