ISTANBUL
Business and Era Minister Mehmet Fatih Kacır has said that Türkiye objectives to domesticate 100,000 tech startups and achieve a collective “Turcorn” valuation of $100 billion by way of 2030.
Talking on the “Terminal Istanbul x SSCI Innovation and Investment Forum,” Kacır emphasised that Türkiye has received vital momentum within the fields of era and innovation, noting that the entrepreneurship ecosystem has proven outstanding enlargement lately.
He highlighted that Türkiye’s ecosystem has already produced startups exceeding billion-dollar valuations.
“Over the past 23 years, annual R&D expenditures have grown from $1.2 billion to $20 billion. While the share of R&D in Türkiye’s GDP was once just 0.05 percent, it has now climbed close to 1.5 percent,” he stated.
Kacır famous that just about 13,000 era startups are recently running with an innovation center of attention throughout 114 technoparks in Türkiye. He added that investments in era startups have greater in parallel with the ecosystem’s enlargement, with general investments attaining $5.5 billion during the last 5 years.
“We will allocate an additional $300 million from public resources to venture capital funds that will help grow Türkiye’s technology startups. Through this support, we expect at least $750 million dollars more in investments to be directed toward Turkish technology ventures,” stated Kacır.
