Turkey's booming tech sector is fertile ground for startups
Turkey has rapidly become a powerful draw for tech investors: and the latest report coming out of the country highlights how startups can take advantage too.
Compiled by a leading investment specialist, the report shows how strong macro trends and an economy on the rise have helped create robust internet infrastructure with a strong user base. The market is fed by stable logistics and payment processes, and staffed by a hard-working and low-cost labour force. Add in mobile penetration of over 90% and a young, educated and engaged population, and you have an understandable draw for investors.
So what about the startups? The internet ecosystem, a vital source of innovation, remains in its infancy: and that's where opportunity lies.
In fact, Turkey is currently experiencing a golden age in terms of talent, with hundreds of well-educated, tech-literate locals heading back to their home country in droves. This is all talent that can fill the growing demand for digital media, innovative online ecosystems and new business models.
While these young companies are certainly in need of finance to survive, investors looking to make their mark in Turkey must also be willing to share their expertise and foster growth. In short, if the Goliath investors can dance with the growing army of digital Davids, everyone stands to benefit.