Istanbul is the Hottest Place for Startups in the Region

Most entrepreneurs are known as people, who tend to think out of the box, to see opportunities where the rest see challenges and to use their skills to inspire innovation through technology. Entrepreneurs are driven by ideas and are not afraid to work hard towards achieving their goals for business growth and social impact.

Undoubtedly, Silicon Valley has become a byword for entrepreneurship. But in many more cities around the world stronger entrepreneurial ecosystems start to evolve. There are many things that are important for building strong startup scene in a specific city – IPO markets for companies that are ready to go public, opportunities for raising capital through investment, strong startup network, talented and skilled and ambitious people to join a startup… The list goes on!

Through the years Istanbul has become very attractive not only for Turkish entrepreneurs, but also for entrepreneurs from the whole MENA region. The city is not only attractive for entrepreneurs, but also investors started to see the potential that is growing in Istanbul. Even 500Startups, who are no strangers to the Turkish startup scene (Udemy, Socialwire, Parlakbirgelecek), recently launched 500Startups Istanbul fund. So, definitely Istanbul is becoming the hottest place for startups in the region, and here are the top five reasons why:

1. Location

With its over 14 million people population and the key location – connecting Europe and Asia – Istanbul is one of the fastest growing economies in the region. As the cosmopolitan city as it is, Istanbul is having the location advantage, which no other city in the region has.

2. Market

Turkey has a population of over 76 million people, but its key location is often used as a growth bridge by many companies who expand their businesses to surrounding countries such as Greece, Lebanon, Jordan, Saudi Arabia, UAE and Central Asia.

3. Talented and skilled human capital

Being one of the fastest growing cities in the region makes Istanbul one of the best places to find educated and talented young people, who are fascinated by the technology and innovation, which the entrepreneurial world offers.

There is very skilled engineering talent. Istanbul Technical University and Yildiz Technical University are popular places that successfully educate many people, ready to enter the entrepreneurial world.

4. Investor opportunities

Istanbul is a place where many local angel investors and VCs are looking for promising companies. There is no lack of investment opportunities in the city as part of the investment scene are Galata Business Angels and TEB Private Angel Investment Platform, which both will have representatives at ThePitcher event in April.

5. Strong entrepreneurial community

In Istanbul there is strong entrepreneurial community of startup owners, who are often networking in many of the entrepreneurship-oriented events and conferences that take place in the city.

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FoundedinTurkey is aimed to encourage and praise Turkish startups.
Turkey has a growing startup scene at the intersection of Europe and Asia. This list is a tribute to the most innovative startups in Turkey...