Türkiye’s Startup Ecosystem Secures $1.41 Billion in 2024
startups
Türkiye’s startup ecosystem attracted $1.41 billion in funding across 577 investment rounds in 2024, despite a notable decline in private sector investments, according to the 2024 Türkiye Startup Ecosystem Funding Report by StartupCentrum.
Key Highlights from the Report
- Public sector funding played a crucial role, backing 57% of investment rounds (329 rounds) with a total of $8.5 million.
- Private sector investments declined by 30% compared to 2023, with 248 rounds recorded. However, the total funding from private investors still amounted to $1.398 billion.
- Foreign investments accounted for 21% of total funding, excluding state-backed initiatives.
Türkiye’s Startup Trends in 2024
Top-Funded Startups
- Insider (AI-native customer engagement platform) secured $500 million, the largest funding round of the year.
- Getir (rapid on-demand delivery service) raised $250 million.
- Spyke Games (mobile gaming), Colendi (FinTech), Midas (FinTech), and Intenseye (AI-powered workplace safety) also attracted significant investments.
Sectoral Investment Trends
- AI startups led funding, securing $715.8 million—the highest among all sectors.
- Biotechnology and healthcare startups had the most investment rounds, with 126 startups receiving funding.
- Tech park investments soared to $824.82 million, more than tripling from $237.71 million in 2023, with Insider playing a key role in the surge.
Women-Led Startups on the Rise
- The share of startups with at least one female co-founder increased to 32.2%, reflecting a growing presence of women entrepreneurs in the ecosystem.
Top Universities for Startup Founders
- Middle East Technical University (METU), Boğaziçi University, and Istanbul Technical University (ITU) produced the highest number of startup founders who secured funding.
- Koç University and Anadolu University followed closely in fostering entrepreneurial talent.
