Turkish Startup Ecosystem

Turkish Startup Ecosystem

Turkish Startup Ecosystem

The newly sprouting concept of the startup ecosystem has been attractive for numerous entrepreneurs and organizations worldwide. These people aim to do the best of their ideas and nurture their projects with the utmost care. Great minds filled with unique thoughts encouraged with research and hard work are always in need of discovery. So, such people are always searching for supportive environments to take action with their innovative ideas freely. Creating a startup ecosystem needs a creative way to do so. All these people's main motive stays the same while taking a step into a startup ecosystem: producing. These people wish to improve their working manners while working collectively in perfect harmony in various fields to turn their ideas into functional products.

A combination of various numbers of startups and startup ecosystems is essentially a collective hive of startups that aim to benefit from each other in the most efficient ways. Virtual or psychical, the startup ecosystem is formed by people in the various stages of their startup projects. Being a lesser part of an essential network or a system, startups act as a small cogwheel in a clock to make it work as a part of a startup ecosystem. In a governmental structure, university departments or even small neighbourhood cafes, members of each startup work in different manners to benefit themselves and the ecosystem and foster the future of each community. In order to make a functioning ecosystem, you would need all the parts to support it. Ideas, research, and inventions are the first to make the ecosystem functioning with their high number of possibilities. The second stage would be performed in education programs such as colleges or universities to enable these entrepreneurs to act with knowledge. The rest is filled with teams with different but relevant projects, investors, organizations and events.

Turkey is one of the most promising countries for startup ecosystems with its various startup entrepreneurs and bright minds. Even though investment for every individual regarding startups corresponds to one dollar each for the time being, this number is projected to rise in upcoming years. In order to compete with other economic rivals, this number should at least meet ten dollars. It means that investment of over 800 million dollars should be made for people that wish to own their startups. Through investors and VC funds, total startup investment has increased by 66% in recent years. Investment and financing of these initiatives are expected to be in a steady increase, and it demonstrates that Turkey is becoming a hot spot for future startup ecosystems worldwide. In 2019, it was declared that a total of 102 million dollars were invested in 92 different startups. With the increasing power of the internet and communication, these startup ecosystems have rapidly increased in Turkey. Most of them are still relentlessly continue to grow as today. As new government-supported bank funds start to be accessible specifically for startup entrepreneurs, it is a valid assumption that Turkey will provide numbers of effective startup ecosystems as of 2021. Not only limited by governmental support, but the particular sectors are also investing and looking forward to benefiting from the startup ecosystem as well. To get full of these benefits, they do continue to invest in bright ideas of people all around the country to make the best of the startup ecosystem. Startup ecosystems continue to sprout all around the globe, with Turkey's project being part of this global ecosystem as well. There is no doubt that these startups will flourish with ideas and projects that will soon reshape our future.

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