Public funds boost Turkish tech startups to attract 175 billion liras in investment

At a Terminal Istanbul event held at Atatürk Airport, Mehmet Fatih Kacır reported that publicly backed investment vehicles have enabled 1,091 technology startups in Turkey to attract a cumulative 175 billion Turkish liras. Public resources of 5.8 billion liras, channeled through fund-of-funds and co-financing schemes, have established funds with a combined size of 130 billion liras, and a further $300 million in state money is slated for venture capital.

The minister reiterated the target of 100,000 tech startups by 2030 and a $100 billion valuation for the nation’s unicorns, of which there are currently eight. Programs such as Turcorn 100 and TechVisa, which has brought more than 5,500 tech professionals to the country, support global market entry and rapid work-permit issuance. Turkey’s 115 technology parks host over 13,000 ventures, complemented by a network of 1,700 R&D and design centers. The Terminal Istanbul project is converting airport terminal space into a 200,000-square-meter hub for startups, slated for full operation in 2027, with over 60 firms signing cooperation agreements at the event.