International enterprise capital funds are desirous to put money into Türkiye, in keeping with Industry and Technology Minister Mehmet Fatih Kacır, who highlighted the superior degree of Turkish startups and strategic initiatives in numerous areas.
Kacır, who was in London to attend a collection of applications, answered questions Friday from the Turkish media after assembly with enterprise capital fund managers.
He highlighted Türkiye’s burgeoning capabilities and strategic initiatives in key areas resembling well being applied sciences, inexperienced transformation applied sciences, digital transformation applied sciences and synthetic intelligence.
Kacir emphasised the superior degree achieved by Turkish know-how startups, significantly in next-generation mobility applied sciences – a vital part of the inexperienced transformation.
“I shared Türkiye’s capacity in these areas extensively,” he stated. “Investors expressed their desire to increase their presence in our country.”
He identified that Türkiye’s strategy serves as a world instance of how public sources might be successfully utilized to speed up know-how startups.
“Our work demonstrates how public resources are being used and evaluated to support technology startups at a level rarely seen worldwide,” he stated.
“These initiatives have already borne fruit, with technology startups in Türkiye receiving significantly larger investments compared to previous periods. From 2010 to 2020, the annual investment in Turkish tech companies and startups was approximately $100 million. However, between 2020 and 2023, this figure skyrocketed to $4 billion over three years,” he defined.
The inflow of capital has accelerated the emergence of billion-dollar unicorns in Türkiye – affectionately termed “Turcorns.”
“Today, we have several tech startups valued at over ahttps://www.dailysabah.com/business/economy/turkiye-upbeat-amid-record-rise-in-fx-reserves-steep-cds-fall billion dollars in sectors such as gaming, e-commerce, software and fintech,” stated Kacır.
Looking forward, he outlined an formidable imaginative and prescient for Türkiye’s know-how and entrepreneurship ecosystem.
By 2030, Türkiye goals to foster the creation of 100,000 know-how startups, with 100 reaching Turcorn standing.
“To achieve this, we must strengthen our international collaborations and more effectively communicate and promote the country’s success stories in technology entrepreneurship to the world,” Kacır emphasised.
London, a world hub for enterprise capital and asset funds, hosts greater than 500 capital funds, which yearly allocate substantial sources to know-how and entrepreneurship.
“In the coming period, we will enhance our relationships and communication with these funds. We will organize similar events in Türkiye together with them and continue to accelerate the growth of the country’s technological startups,” he stated.
Decline in CDS reveals economic system on proper monitor
A big a part of the discussions additionally targeted on Türkiye’s innovation-friendly regulatory setting.
Kacır highlighted the success of the fintech startups in Türkiye, attributing it to the general public sector’s modern and supportive strategy.
“We talked at length about how the public sector’s innovative and innovation-friendly approach has been crucial to the success of fintech startups in Türkiye,” he stated.
In addition, the minister talked about new laws on cryptocurrency belongings being drafted in Parliament.
“All these approaches demonstrate how strongly Türkiye hosts innovative technologies and how it has achieved the most advanced level of transformation,” he added.
The enchancment of Türkiye’s macroeconomic indicators was additionally a key matter of dialogue.
Kacır highlighted the fast decline in credit score default swaps (CDS), the danger premiums of the Treasury shares, as an essential signal that the Turkish economic system is heading in the right direction.
“We foresee a significant acceleration of investments in Türkiye in the coming period,” he stated, including that the sentiment is shared by worldwide traders and enterprise capital fund managers.
Source: www.dailysabah.com