Entrepreneurs set sail from Istanbul to grow in overseas markets
The event, which was dubbed one of the top 10 events in the global startup scene by the Global Accelerator Report, looks to make Istanbul and Turkey important locations in the entrepreneurial ecosystem. Startup Istanbul 2019 was organized for the seventh time by Etohum. Apart from other programs it analyzed for the first time, startups in the growth phase, something Turkey badly needs. In that context, juries selected the winners of Scaleup Istanbul, where growth-oriented startups whose income exceeds $1 million or have received at least $1 million investment competed. According to the Turkish startup ecosystem intelligence firm, Startups.Watch, the total investments made in 43 startups in the first nine months of 2019 amounted to $13.9 million. Compared to the previous years, the number of growth-oriented enterprises was not high, which led to a decrease in investment figures. There are now platforms that support the launch of not just the seed stage but also full ventures and their opening to global markets.