The Startup Ecosystem of Türkiye
Türkiye has 5 cities in the top 1000 and is one of Eastern Europe’s best countries for setting up a startup.
COUNTRY RANKING
Türkiye’s startup scene saw an increase in 2024 and jumped 5 spots from the previous year, outranking Mexico.
Population
Million
Regional Ranking
In Eastern Europe
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
The Turkish startup ecosystem has faced challenges in recent years, with geopolitical and economic issues causing a slowdown in growth. The devaluation of the Turkish Lira has created uncertainty for both local and foreign investors, leading to concerns about the future of Turkish investments. This has also resulted in brain drain, with talented entrepreneurs moving their businesses overseas, such as Udemy and Insider.
Despite these challenges, Turkish startups have seen successes, with companies like Papara becoming the first Turkish unicorn in the fintech sector. The gaming industry is also attracting global interest, with companies like Dream Games gaining unicorn status. Additionally, Getir, a leader in delivery services, has achieved decacorn status with a valuation exceeding US$10 billion.
The Turkish public sector recognizes the potential of startups as economic drivers, with development agencies like Istanbul Development Agency and Izmir Development Agency working to create policies and programs to support local ecosystems. The Ministry of Industry and Technology’s Turcorn 100 initiative supports early-stage startups with mentorship, financial backing, and access to a network of ecosystem stakeholders.
Startup events like Hello Tomorrow Türkiye, Webrazzi Summit, and Teknofest are important in connecting ecosystem stakeholders and creating a supportive environment for startups. Turkish entrepreneurs are highly skilled, proactive, and committed to helping the local startup ecosystem thrive.
With the right support from the public sector, Turkey has the potential to become a regional hub for startups in Europe, Asia, and the Middle East. Specifically, Istanbul has the potential to become a MENA startup hub, providing stability and opportunities for Turkish tech entrepreneurs.
Startups
Türkiye Top Startup Industries
525 startups
145 startups
133 startups
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Ecosystem HealthCheck
Türkiye Ecosystem Health Check
The health check tables allow you to look at the performance Türkiye has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
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Startup Ecosystem Charts
Startup Funding in Türkiye2017 - 2024
Startup Funding in Türkiye 2017 - 2024
From 2022 to 2023, startup funding in Türkiye has decreased by 62.46%. During this period, the number of deals in Türkiye has increased by 1.34%. Since 2017, total startup funding in Türkiye exceeded US$ $8.28B.
Average Funding in 2023
$2.60M
Funding in 2023
$985.81M
Deals in 2023
379
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Türkiye
Global Rank
Türkiye is ranked within the top 50 startup ecosystems globally.
Top Industries
Türkiye’s startup scene is best represented in Software & Data, Ecommerce & Retail, and in Social & Leisure.
Top Cities for Startups in Turkiye - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 51st + 2 | 15.074 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 260th + 16 | 1.597 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 534th - 93 | 0.419 | 00.00 | 00.00 | 00.00 | |
4th 0 | 644th + 4 | 0.291 | 00.00 | 00.00 | 00.00 | |
5th new | 803rd new | 0.185 | 00.00 | 00.00 | 00.00 | |
6th new | 1178th new | 0.070 | 00.00 | 00.00 | 00.00 | |
7th - 2 | 1233rd new | 0.059 | 00.00 | 00.00 | 00.00 | |
8th new | 1242nd new | 0.057 | 00.00 | 00.00 | 00.00 | |
9th new | 1292nd new | 0.045 | 00.00 | 00.00 | 00.00 |
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