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How Was 2021 For Turkey’s Startup Ecosystem?

The Pandemic’s impact on many businesses has accelerated the digital future. With the rapid change that brought by Covid, technology has gained an indispensable place in people’s daily lives. The fact that the importance given to technology and digitilzation gradually increases, investments that are being made in technology sector increased at the same rate. Companies started to make smart investment in technology have positioned themselves to obtain benefits. 2021 has been a year full of achievements and records for the entrepreneurship ecosystem. While the amount of investments made in Turkey has reached the highest figures to date, great successes have been achieved not only in Turkey but also in the entire world. Investment, valuation and fund establishment records were broken and total venture investments grew by 92% and reached 643 billion dollars.

To summarize the data of 2021, which was a very productive year for the entrepreneurial ecosystem in Turkey; 1 billion 552 million dollars has been provided to startups in 294 investment rounds; that is, the amount of investment increased 9 times compared to the previous year. There was a 948% growth in the amount of investment and 47% in the number of investments compared to 2020. 59% of the investments made in 2021 were made to the startups that have just received their first investment and almost half of these startups consisted of startups established in the last 2 years. The sector that left its mark on 2021 was the game sector with an investment of 265 million dollars. Finally, 18 new funds were established.

For the last 10 years, the entrepreneurial ecosystem in Turkey has been taking firm steps from its infancy to reaching its potential. Turkey’s entrepreneurship ecosystem has passed from activation to globalization phase and every day, we encounter new and pleasing developments and news. With the amount of venture investment in 2021, Turkey has achieved great success by being among the 10 European countries.In the light of these data, we fully see that Turkey VC market will continue to run hot as technology and innovation continue to run hot as technology and innovation continue to fuel growth. Thus, startups in Turkey will continue this success in 2022 and break even bigger records; we will also hear about new investments, lots of exits and unicorns, even decacorns.


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