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Türkiye’s Startup Ecosystem Secures $1.41 Billion in 2024

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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.

Looking Ahead

Türkiye's startup ecosystem continues to evolve, with AI, biotechnology, and tech parks driving growth. The increase in women-led startups and university-driven entrepreneurship highlight the country’s expanding innovation landscape.         Cem Cetinguc

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