Türkiye is expanding its support structure for startups throughout their journey — from first contact with the ecosystem and company formation, to sustainable growth and ultimately global expansion, Türkiye’s Industry and Technology Minister Mehmet Fatih Kacir has said.
Innovation-friendly regulation, developed in close dialogue with founders and investors, allows new business models to emerge, grow and compete, he stressed at the Take Off Istanbul Startup Summit in Istanbul on Wednesday.
The two-day event is organised by the Turkish Industry and Technology Ministry and Türkiye's Investment and Finance Office, with Anadolu Agency serving as the global communication partner.
The event features numerous speeches from officials and experts on several topics, including fintech, connectivity, the space economy, innovation, and emerging markets.
"We are aligning our policies and projects with this vision. We are investing heavily to equip (the) young generation with the skills of the future," Kacir noted.
He highlighted that Türkiye-based gaming studios have created global hits enjoyed by hundreds of millions of players, and that beyond gaming, high-growth Turkish startups in grocery delivery, fintech and AI are shaping user experience and setting new standards across Europe, the Middle East and beyond.
Until 2019, no Turkish technology startup had achieved unicorn status — a valuation of $1 billion or more — but Türkiye now has seven unicorns, "which we refer to as turcorns," the minister said.
Türkiye's R&D figures
Touching on the country's achievements in production, exports and supply chains, the minister said Türkiye is confident that this momentum in industry will continue, because along the way the country has built a powerful research and development (R&D) and innovation infrastructure.
Since the early 2000’s, Türkiye has increased annual R&D expenditures from $1.2 billion to $20 billion, raising the share of R&D in national income from 0.5 percent to 1.5 percent, he said.
The first edition of the event was held in 2018 as part of Teknofest before it grew and became a separate event.
This year’s summit is hosting around 250 investors and 500 startups from more than 40 countries.
Highlighting international collaboration, the event will feature country pavilions from Spain, Bangladesh, North Macedonia, and Uzbekistan, showcasing startups from their respective ecosystems.
Special programs such as the “Entrepreneurial Event” and the “International Investor Meeting” are also included in the summit schedule to support participants in establishing new business connections.
The summit, which includes special training sessions for students to support young talent in the ecosystem, also aims to strengthen community awareness through a volunteer model.
