Istanbul Development Agency and Startup Genome have teamed up to spotlight Istanbul’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• Ranking as the #13 Emerging Ecosystem, moving up three spots from GSER 2023

• The ecosystem created $22 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 13% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• #5 European Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 10 European Ecosystem in Funding — measures innovation through early stage funding and investor’s activity

• Top 25 European Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem

• Top 30 European Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• The AI, Big Data & Analytics, Gaming, and Fintech sectors are highlighted for their density of talent, support resources, and startup activity

• Global connections and young tech-savvy talent are cited as reasons a startup should move to the ecosystem

“With its strategic geographical advantages, friendly investment environment, and young, dynamic population, Istanbul is a promising choice for launching a startup. Several Istanbul startups have recently achieved unicorn status, with many more on the way!" says Mehmet Fatih KACIR, Minister of Industry and Technology, Republic of Türkiye.

"As a policy advisor and research provider focused on entrepreneurial-based economic growth, we're thrilled to spotlight Istanbul’s recent success increasing its early-stage funding deals - the only large city in the region to accomplish this over the past two years. We look forward to disseminating best practices derived from our collaboration with Istanbul Development Agency," shares Stephan Kuester, Managing Partner at Startup Genome.

For more insights and an overview of Istanbul’s startup landscape, visit the Istanbul ecosystem page.

To learn more about startup ecosystems around the world, view the full, free Global Startup Ecosystem Report.