ecosystem
Start to explore Istanbul’s thriving startup ecosystem
Overview & Key Metrics
While many of Istanbul’s success stories trace their roots back to the bootstrapped ventures of the early 2000s, the city’s VC-backed ecosystem truly began to take shape in the early 2010s. This decade saw a surge in the establishment of venture capital funds, angel networks, accelerators, and co-working spaces, laying the groundwork for a high-value, innovation-driven environment.
Early-decade exits were instrumental in fostering a robust exit culture, effectively increasing investor appetite and risk tolerance. By the latter half of the 2010s, venture capital firms began realizing returns as exit frequency accelerated. After producing its first unicorn in 2020, Istanbul’s momentum reached a fever pitch within just a year, yielding four additional unicorns and its first decacorn. This stellar performance has firmly transitioned Istanbul from a local hub to a formidable global contender in the entrepreneurship race.
Metrics
Number of Decacorns
1Number of Unicorns
6Number of VCs
25Number of CVCs
74Number of VCIFs
5Number of Angel Networks
7Number of Active Equity Crowdfunding Platforms
8Number of Accelerator
97Number of Incubator
55Number of technoparks
16Fastest Unicorn (Months)
23Fastest Exit $100M+ (months)
21Ecosystem Milestones
First angel network founded
The first major exit exceeding $100M has taken place.
The first major exit exceeding $200M has taken place.
First venture capital fund founded
The first major exit exceeding $500M has taken place.
The first and largest gaming exit exceeding $200M has taken place.
The largest exit exceeding $1 billion has occurred.
Getir has reached unicorn status.
For the first time, a startup went public on Nasdaq.
For the first time, a startup became a decacorn.
Dream Games has reached unicorn status.
Insider reached unicorn status.
Getir has reached the level of Decacorn.
Hepsiburada was acquired for $1.1 billion.
Trendyol Go was acquired for $700 million.
Supportive Ecosystem
The Turkish government is a very active and strong supporter of the startup ecosystem in Türkiye and offers various programs and policies to help startups start, grow and scale globally. The regulatory changes have been a key driver in the development of Istanbul’s startup ecosystem. Beginning in 2012, governmental agencies enabled and supported the development of local startup mentors, accelerator programs, angel networks, business internationalization programs, venture capital funds, and crowdfunding platforms.
Success-Driven Ecosystem
One of the strongest catalysts of the startup ecosystem in Türkiye and Istanbul has been the continuous raising of the bar driven by high-profile success stories. Exit events, along with unicorn and decacorn milestones, have consistently motivated entrepreneurs and led to increased startup formation in those verticals. For instance, the $1.8 billion acquisition of Peak Games in 2020 elevated the gaming sector to an entirely new level, followed by another gaming startup reaching unicorn status the very next year. Similarly, Getir’s rise to unicorn status in 2021 and decacorn status in 2022 significantly boosted founder confidence and propelled the broader startup ecosystem to a much higher level.
Over the past decade, Istanbul has consistently dominated the national investment landscape, accounting for an annual average of 90% of Türkiye's total investment value. In terms of deal volume, eight out of every ten investments in the country are directed toward Istanbul-based startups.
Global Rankings & Recognition
The Global Startup Ecosystem Report 2025 (Startup Genome)
Istanbul has solidified its standing as a global innovation powerhouse by securing the #3 spot in the Emerging Ecosystems Ranking 2025, marking an impressive surge of ten positions since the 2024 report. This upward momentum is driven by robust growth across key success factors, specifically Performance, Funding, and Market Reach. A defining highlight of this period was the exponential surge in total venture capital inflow, further catalyzed by high-profile exits and major acquisitions such as the Hepsiburada deal. Furthermore, strategic institutional support from the Istanbul Development Agency (ISTKA) and the Ministry of Industry and Technology has been pivotal, particularly through forward-thinking initiatives such as Terminal Istanbul and the Türkiye Tech Visa. These efforts, combined with a highly-skilled workforce and competitive strengths in Gaming, AI, and Fintech, have established Istanbul as the top regional climber in Europe and a premier gateway for founders looking to scale globally.
Global Tech Ecosystem Index 2025 (dealroom.co)
Istanbul has secured a prestigious second-place global ranking in the 2025 Rising Star category, distinguishing itself as one of the world's most dynamic and rapidly transforming tech ecosystems. Positioned through a "Growth Lens," this ranking identifies under-the-radar hubs that are signaling the next wave of global innovation by emphasizing rapid growth in enterprise value and unicorn creation over time. Istanbul’s high standing is particularly noteworthy as the methodology adjusts for economic factors such as GDP per capita and the cost of living, demonstrating that world-class innovation can emerge from diverse markets beyond established global champions,. By also topping the list as the #1 Rising Star in Europe, Istanbul reinforces its status as a primary driver of entrepreneurial momentum and a key focal point for the next generation of tech growth.
Reports
Access in-depth reports about Istanbul’s startup and innovation ecosystem.
Start Istanbul
Istanbul Regional Plan
Deep Dive into Deep Tech
