Global Venture Capital Funds Excited to Invest in Turkey: Technology Minister

International venture capital funds are eyeing Türkiye as a prime investment destination, with Türkiye’s Technology Minister Mehmet Fatih Kacir revealing the keen interest during his visit to London. Kacir, who engaged with venture capital fund managers in the UK capital, emphasized Türkiye’s growing prowess in key sectors such as health technologies, green transformation technologies, digital transformation technologies, and artificial intelligence.

Highlighting the advanced level achieved by Turkish technology startups, particularly in next-generation mobility technologies crucial for the green transformation, Kacir expressed, “Investors have shown a strong desire to expand their presence in our country.” He underscored Türkiye’s exemplary approach in utilizing public resources effectively to propel technology startups, setting a global benchmark.

The surge in investments has propelled the emergence of billion-dollar unicorns in Türkiye, affectionately dubbed “Turcorns.” Kacir noted the significant increase in investments in Turkish tech companies and startups, soaring from $100 million annually between 2010 and 2020 to a staggering $4 billion over the span of 2020 to 2023.

Looking ahead, Kacir outlined an ambitious vision to foster the creation of 100,000 technology startups in Türkiye by 2030, with 100 achieving Turcorns status. Emphasizing the need for enhanced international collaborations and effective promotion of Türkiye’s success stories in technology entrepreneurship, Kacir highlighted the importance of strengthening relationships with global venture capital funds to further accelerate the growth of Türkiye’s technological startups.

The minister also discussed Türkiye’s innovation-friendly regulatory environment and the success of fintech startups in the country, attributing it to the public sector’s innovative and supportive approach. Additionally, he mentioned the drafting of new legislation on crypto assets in the Turkish Grand National Assembly, showcasing Türkiye’s commitment to embracing innovative technologies and achieving advanced levels of transformation.