Turkish Startups in the UK: A Growing Trend

Turkish startups are increasingly considering the UK as their gateway to international expansion. In the first half of 2023, Turkish startups raised $2.18 billion in investments in the UK, according to data from StartupMarket. This represents a 38% increase from the same period in 2022 and is the highest level of investment in the UK by Turkish startups in any six-month period ever recorded.

The growth is being driven by a number of factors, including:

• The impressive performance of Turkish startups in the gaming, fintech, and e-commerce sectors.
• Turkish startups can also tap into the resources and funding opportunities provided by the Global Entrepreneur Programme (GEP) and Innovate UK. These programs support innovative businesses and entrepreneurs, offering tailored support and access to a thriving ecosystem that can accelerate their growth in the UK.
• Turkish startups can participate in international growth programs to expand into the UK market. ITU Innogate is a seed acceleration program that connects startups with potential clients, investors, and partners. Bilkent CyBr is an accelerator program that helps startups develop and commercialize their startups. They offer a valuable opportunity for Turkish startups to gain exposure to international markets and investors.
• The number of Turkish startups that have raised funding from UK investors has increased by 50% in the past year.
• The average investment size for Turkish startups in the UK has also increased, from $5 million in 2022 to $7 million in 2023.
• The UK is the third-largest gaming market in Europe, and Turkish gaming companies are increasingly looking to the UK as a market for their products and services.
• The UK is also a leading hub for fintech, and Turkish fintech startups are seeing opportunities to collaborate with UK companies and investors.
• E-commerce is another growing sector in the UK, and Turkish e-commerce startups are looking to capitalize on the UK’s large and growing online market.

Turkish startups in the UK primarily thrive in cities like London, Manchester, and Cambridge. They predominantly excel in sectors such as gaming, fintech, and e-commerce.

Are you ready to expand your business in the UK Market? Digipac Consultancy can help you! We specialize in assisting startups from Turkey in achieving successful growth within the UK market. Our track record includes collaborations with notable clients such as Hiwell, Insider, Studio+, and ITU Innogate. We boast a success rate of 80% plus in facilitating UK market expansion 🚀.

Turkish startups venturing into the UK market have typically experienced an average growth rate of 45% within their first year of market entry!

If you are contemplating an expansion into the UK market, you can contact us today to learn how we can enhance your startup’s growth and expansion journey in the UK.