Turkey’s startup ecosystem gained great momentum in the first quarter of 2024 and it was a historic period. The record-breaking increase seen especially in the field of investment attracted attention.
Türkiye Entrepreneurship Ecosystem gained momentum in 2024!
During this period, a total of 111 million dollars of investment was made in 161 investment rounds, including seed, early and late stage investments, and this figure was recorded as Turkey’s highest investment quarter of all time.
The impressive support provided by the TÜBİTAK BiGG Fund for pre-seed investments was one of the main drivers of growth. It made 107 of the total 161 investments. With this move, Turkey’s number of seed stage investments ranked second in Europe and first in the MENA region.
As we have stated, Türkiye is now a leader in both Europe and the MENA region in terms of pre-seed investments. This success was possible thanks to the strong support and incentives provided to the country’s young enterprises.
Gaming startups in particular have shown remarkable growth. In this field, Türkiye ranked 7th in Europe in terms of investment size and 2nd in terms of the number of investments. In the MENA region, it ranks 2nd in terms of size and 1st in terms of number of gaming investments.
The first quarter of 2024 also attracted attention with some major strategic acquisitions in Turkey.
Re-Pie’s acquisition of Modanisa, one of Turkey’s leading e-commerce companies, and Papara’s acquisition of T-Bank stood out as important developments that show the dynamics and growth potential in the sector.
With its growth rate, investment diversity and strategic moves, Turkey has become an attractive center for investors and entrepreneurs. Investments in areas such as biotechnology, artificial intelligence and health technologies have enabled the country to stand out in the field of technology and innovation.