Türkiye’s Tech Surge: A Major Opportunity for Startup Innovators and Skilled Experts

As an Australian migrant currently residing in Europe, I frequently find myself contemplating where to move next after Germany. While South East Europe offers its own unique advantages, Türkiye is emerging as a particularly intriguing option. This country is rapidly gaining attention for its vibrant and diverse opportunities, especially in several high-growth sectors.

Türkiye’s industrial landscape is robust, particularly in defence, aviation, and space technologies. These sectors reflect the country’s commitment to advancing its technological capabilities. Additionally, Türkiye is making significant strides in areas such as 5G technology, cybersecurity, and fintech. This growing emphasis on cutting-edge technology positions Türkiye as a forward-looking hub for innovation.

A major draw for entrepreneurs and investors alike is Türkiye’s dynamic funding environment. The country witnessed a dramatic increase in venture capital investments in 2021, with total funding reaching $1.6 billion—an impressive ninefold rise from the previous year. This places Türkiye as the 10th largest recipient of startup investments in Europe and the 2nd in the Middle East and North Africa region. Beyond venture capital, the Turkish government supports innovative startups through extensive grants provided by agencies such as TUBITAK and KOSGEB, which further enhance the entrepreneurial ecosystem.

Türkiye has become a notable incubator for high-value startups, with its journey to becoming a unicorn nation beginning with successful ventures in e-commerce, food delivery, and payments. This growth has extended into the gaming sector and, more recently, into B2B SaaS targeting mid-market clients. In the past two years, Türkiye has produced two decacorns and four unicorns, with prominent examples including Dream Games, Trendyol, Hepsiburada, and Papara. İstanbul has even been recognized as a leading startup hub in the "Global Startup Ecosystem Report 2023" published by Startup Genome. Looking ahead, Türkiye is ambitiously aiming to nurture 100,000 tech startups and achieve 100 unicorns, known as "Turcorns," by 2030.

The country’s strong innovation ecosystem is further bolstered by a network of over 8,000 companies operating across 101 technoparks, more than 1,500 R&D centers, and 200 universities. This extensive infrastructure provides valuable opportunities for collaboration among startups, researchers, and global corporations, fostering a fertile environment for technological advancements.

In terms of talent, Türkiye stands out with its large and youthful population. It is the largest and youngest country in Europe, with a population of 85 million and a median age of 32. With over 8 million university students, Türkiye ranks among the top 10 countries globally in higher education. Each year, over 1.2 million graduates enter the job market, ensuring a continuous supply of skilled professionals.

For those interested in relocating to Türkiye, there are specific visa options available, such as the Türkiye Tech Visa. This visa is designed for startups with innovative business models and technology-focused projects, as well as individuals with critical expertise in technology. The Türkiye Tech Visa offers numerous benefits, including a three-year exclusive work permit, streamlined residence permit processes for family members, exemptions from income and corporate taxes, comprehensive free healthcare coverage, access to office space in technoparks and incubation centers, support for venture capital investments and project financing, and mentoring and consultancy services.

Overall, Türkiye presents a compelling opportunity for both entrepreneurs and professionals looking to tap into a burgeoning tech landscape and benefit from a supportive investment climate.