The 2023 Global Startup Ecosystem Report, published by Startup Genome, highlights key insights into the global startup investment landscape. While the global economic slowdown has led to a decline in technology startup investments, the report emphasizes that this market downturn presents a strategic opportunity for investors looking to back high-potential startups.
Istanbul Ranked #1 in Emerging Startup Ecosystems
Among city-based rankings, Istanbul has been recognized as one of the world’s top cities for entrepreneurship and innovation. The city secured the #1 position in the “Strong Early-Stage Startup Ecosystems” category, outperforming major European and global hubs. The top five rankings in this category are:
- Istanbul
- Barcelona
- Estonia
- Madrid
- Dubai
The report highlights that nearly 600 early-stage startups received funding in Istanbul over the past year, reflecting the city’s dynamic investment climate. The gaming industry has played a significant role in this success, with Dream Games raising $50 million in a Series A round in 2021 and Ace Games securing $33 million in early-stage funding in 2022.
Additionally, Istanbul has been listed among the top 35 global ecosystems and the top 10 startup ecosystems in Europe in the “Funding” category, which measures early-stage investment activity and investor engagement.
Ahmet Sefa Bir and Şerafettin Özsoy: “Foreign Investors Are Focusing on Turkish Startups”
As co-founders of in4startups, Türkiye’s leading investment network connecting startups with investors, Ahmet Sefa Bir and Şerafettin Özsoy shared their insights on the report’s findings:
“Entrepreneurship is growing rapidly, not just in Istanbul but across many Turkish cities. While the number of high-quality startups is increasing, we are also seeing a significant rise in investors eager to fund technology startups. Additionally, due to the success of Turkish entrepreneurs, many foreign investors are joining our platform and actively seeking investment opportunities in Turkish startups. In this regard, Türkiye has become a major focal point for international investors.”
Identifying Türkiye’s Most Promising Startups
To support both local and international investors in finding high-potential startups, in4startups organizes the “Gelecek Vadeden Girişimler” (Promising Startups) Competition every year. The competition receives applications from startups across Türkiye, providing them with an opportunity to be evaluated by top business leaders and academic experts after passing a preliminary screening.
New Additions to This Year’s Competition
For the first time, in addition to identifying the most promising startups, the competition will also recognize startup-friendly institutions and executives. Furthermore, Sustainability Awards will be introduced to honor organizations and leaders making an impact in sustainable innovation.
- Startups will compete across 15 categories, with each category featuring exclusive awards.
- Winning startups will be selected through a jury evaluation process.
- Applications are open until September 30.
The award ceremony will be held in December at the Startup Investment Summit, where the winning startups will present their projects to top investors and engage in one-on-one meetings to explore investment opportunities.
For applications and further details, visit https://gelecekvadedenler.com/.
