Istanbul Demo Day
Istanbul Demo day was held in October 10th. With more than 15 startups and many local VC and Angels participated to the event. The main idea of the Istanbul Demo Day was to make a rehearsal workshop of the London Demo Day. During the event, after each startups pitching investors gaves recommendation about the pitches and asked real questions before the main event at 23rd October.
Turkish economy indicators: Continual growth gains momentum
According to the official data released on September 11, the Turkish economy grew 5.1% in the second quarter of 2017 comparing to the same period of the previous year. The recovering from attempted militarist/political upheavals and following the April 16th referandum Turkey has re-assured its secure and trustworthy position once again and reflected this in the given numbers. Both the national and foreign demand has contributed to this expansion. The national demand added a 3.2% increase to the overall growth rate whereas that of net foreign demand is recorded as 1.8%. The impact of the expansion of the state Credit Guarantee Fund (KGF) warranting loans to SMEs, more than tenfold to 70 billionUSD has also been undeniably evident. According to Vice Prime Minister Mehmet Şimşek, once the April 16th referendum has eradicated the uncertainties, financial markets demonstrated a positive trend. At the same time trust among the real sector and the customers has risen again. Examining the detail, the main industries and their respective shares in contribution to this growth has been declared by the Turkish Statistics Institute (TUIK) as follows: Agriculture 6.3%, manufacturing 6.3%, construction 6.8%, and services 5.7%. After the growth indicators released most of the international investments […]
Moody’s upgrades Turkish economic growth forecast
Turkey’s economy has continued its recovery in the first half of 2017 after growth bounced back in the last quarter of 2016 and was similarly robust in the first quarter, Moody’s Investors Service has announced. “As a result, we have raised our 2017 growth forecast to 3.7 percent from 2.6 percent. We expect growth in 2018 to average 3.2 percent,” Moody’s said on Aug. 30. The Turkish economy grew five percent in the first quarter of this year, compared with the January-March 2016 period; the government had targeted a growth rate of 4.4 percent by the end of the year. Over the past three years, the country’s economy expanded 5.2 percent in 2014, 6.1 percent in 2015 and 2.9 percent in 2016. As stated in the company’s August update on Global Macroeconomic Outlook, Moody’s revised its 2017 growth forecasts for eight countries on account of “stronger growth performance in the first half of the year.” “We have raised our real GDP growth projections for China, Japan, France, Germany Italy, Korea, Mexico and Turkey,” Moody’s said, noting that the global economy continues to maintain solid momentum. “With clear signs that the expansion is likely to be sustained through 2018 in these […]
Turkey’s foreign direct investment close to $5 bln with EU being top investor
Turkey received over $4.9 billion in net foreign direct investment (FDI) during the first half of 2017, with the European Union being the top investor again, Economy Ministry data released on Aug. 22 revealed. Foreign investment in Turkey decreased by 8 percent during the January-June period this year compared with the same period of 2016, it showed. In the first half of the year, 2,429 new companies funded by international capital were established in Turkey while 93 domestic firms received capital from foreign participants from the wholesale, retail trade, property renting and construction sectors. As of June, some 40 percent of the nearly 55,639 companies that benefited from foreign funds or participation were linked to EU states. Direct investment from EU countries to Turkey rose by 61 percent year-on-year in the first half of 2017. Investment from the 28 EU states leapt to $2.72 billion between January and June, up from $1.69 billion over the same period last year, the ministry reported. The rise follows government incentives offered to foreign investors. EU countries made up two-thirds of all foreign investment over the first six months of the year. The figures do not account for foreign investment that left Turkey over […]
Istanbul stock index hits all-time high as lira gains ground
Istanbul’s benchmark stock index hit its highest level of all times by climbing to 110,409.43 points during the afternoon session on Aug. 28. Borsa Istanbul’s BIST 100 index closed last week at 109,755.14 points and it started Aug. 28 at 110,175.25 points with a 0.38 percent hike. The BIST 100 has been performing on an upward trend in recent months and posted its highest close at 109,781.13 points on Aug. 7. Since the beginning of the year, the index has increased by over 40 percent. According to analysts, the record-breaking performance of Turkey’s benchmark stock index was supported by the fall of the U.S. dollar-Turkish Lira exchange rate and occurred while the European stock exchange markets were also in an downward trend. Meanwhile, the Turkish lira continued to gain ground against the U.S. dollar, after falling to a historic low in the beginning of 2017. The U.S. dollar-Turkish lira exchange rate saw its historic high in mid-January this year, climbing to around 3.94 Turkish liras. One dollar was traded for 3.4442 at 3 pm local time on Aug. 28, compared with 3.4590 at Aug. 25’s close.
Turkey’s exports rise for 10th consecutive month
Turkey’s exports increased by 11.9 percent on a yearly basis to climb by $12.4 billion in August, the Turkish Exporters Assembly (TİM) announced on Sept. 1. “Exports in the first eight months of the year increased by 10.7 percent to $102.5 billion. Exports over the last 12 months have increased 7.8 percent to $151.8 billion,” the association stated. “Since November 2016, our exports have been increasing steadily. We believe we will reach $155 billion by the end of the year and meet our target,” TİM chairman Mehmet Büyükekşi said in the statement. “Despite the long Eid al-Adha holidays, Turkey’s exports increased for the 10th month in a row,” Büyükekşi added. “We will see a positive contribution from net exports to the second quarter GDP growth,” he also said. The Turkish economy grew 5 percent year-on-year in the first quarter of this year, while the government had targeted a growth rate of 4.4 percent by the end of 2017. Over the past three years, the country’s economy expanded 5.2 percent in 2014, 6.1 percent in 2015 and 2.9 percent in 2016. Turkey’s exports hit an historic peak of $157.6 billion in 2014 and stood at $143.8 billion in 2015, while the […]
Istanbul rose to fifth place in the ranking of European Angel Investment Size
Turkish start-ups, which have been increasing due to the continued support of the state, are getting more investment opportunities each year. According to the announced report giving the size of European Angel Investment, Istanbul has risen to the fifth place this year.
INVEST ISTANBUL NEWS
The Best 20 Startups Of Istanbul Have Been Announced!
After 7 week-long training sessions provided by Mehmet Alpatlı, Önder Yılmaz, and Aykut Gülalanlar, Invest Istanbul’s Accelerator Program that began on 20 April 2017 has come to an end. The program also hosted Mehmet Başaran – the Inward Investment Adviser of British Consulate-General Istanbul- as a speaker for one week. With the completion of the program One Pager technology flyers, Financial Tables, 3-Minute Pitchings, Investment Offerings, Business Models and Income models have been made ready for each and every startup. At the validation week, it was ensured that all startups talked to the customers by making live skype calls to United Kingdom. Through satistaction evaluation forms , it was found out that all the participants were 100% satisfied with the training sessions. After the evaluations conducted at the end of the program, the best 20 startups going to London were selected and announced. Then with the another training session the 3-minute video pitching feedbacks were shared with the startups. In the event that took place on 25 July, our trainer Mr. Richard Newman provided all-day-long training to the participants for the upcoming presentations in London Demoday. In consideration of everything learned throughout the training sessions, in addition to all the […]
We Are The Meeting Point For Istanbul Entrepreneurship Ecosystem
Distinguished Investors and Esteemed Istanbul Entrepreneurial Ecosystem Stakeholders, I take great pride in having seen the opening of INVEST ISTANBUL portal, which began as an idea just 2 years ago, now transformed into a common needed platform bringing together categorized ecosystem stakeholders. Thanks to the Ministry of Development and the Istanbul Development Agency supporting this project be happen with most competent local incubation centers and accelerators. INVEST ISTANBUL is a tiny initiative that has been proposed in order for Istanbul, being a massive open urban laboratory where all kinds of technology can be implemented, to attain the worth and opportunities it deserves, with its young and talented local entrepreneurs and its unique opportunities, its dynamic economy, and its competent universities and active life. , We have created a compelling bilingual portal at this www.investistanbul.com.tr where Istanbul’s entrepreneurial ecosystem players can categorically advertise themselves and their activities on a large map. In our portal, foreign investors can easily address Turkish incubators and start-ups. We have a large support for every type of stakeholders such as Venture Capitals, Business Angels, Angel Networks, Public Funders, Crowd-funders and facilitators such as Incubators, Accelerators, Private Hubs, TTOs, Technoparks and supporting organizations such as NGOs, Platforms, […]