Turkey became the 10th country to attract the most investment among European countries over two years and hosts six unicorns. Four unicorns in the space say that unicorns must embrace digital transformation and governments must support the ecosystem and nurture small-medium sized businesses through policy but they must refrain from regulation or favoring traditional offline enterprises.
Turkey has vowed to develop an innovative ecosystem of emerging technologies through its Industry and Technology Strategy Plan for 2023. The country has established a nationwide network for entrepreneurs, start-ups, academic research centers and development institutes. The Turkish Technology Team Foundation and the Ministry of Industry and Technology also set up Teknofest. The event holds technology competitions covering 99 different categories, with participants from 108 different countries.