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Turkiye is the 5th largest startup market in Europe

World Angel Investment Forum President Altuntas said that Turkiye, which set an example to the world by enacting an important law for angel investors, is in the position of Europe’s 5th largest startup market.

World Angel Investment Forum (WBAF) President Baybars Altuntas said at the WBAF World and Mediterranean Congress, which he attended in Antalya, that angel investors and startups provide the capital they need the most.

Stating that capital can be found anywhere, Altuntas said, “You can borrow capital from banks, you can find it from investment funds, but now entrepreneurs and startups need more than just capital, namely the environment and mentorship, in order to create a global success story.”

Pointing out that the reason why angel investors are called “angels” is that they create mentorship and networking as well as financial capital, Altuntas said that these investors call the capital they raise as smart capital.

“Many startups that pass the $100 million company valuation are starting to emerge”

Pointing out that 320 thousand angel investors made a total of €9.6 billion smart capital investment in Europe last year, Altuntas said:

“In America, 340,000 angel investors have made a total of $26 billion of smart investments in startups and entrepreneurs. Turkiye is currently the 5th largest startup market in Europe. Many startups that regularly pass a company valuation of $100 million began to emerge. Unicorn startups (over $1 billion worth of startups) are starting to emerge. These were not numbers that we could pronounce before. Now, the reason for this is the Treasury’s realization of the Individual Participation Capital Law, which we pronounce in practice as the ‘Angel Investment Law’.”

“Over 1500 investors will come to the congress in Antalya”

Baybars Altuntas stated that qualified investors who want to become angel investors can deduct their entire investments from personal taxes when they combine their investment decision with a certification.

Emphasizing that this practice is only in three or five countries in the world, Altuntas said, “Turkiye has succeeded in doing this and has set an example. This year, over 1500 investors will come to the congress to be held in Antalya on October 25th. When you entered the cross-border investment system, the number of people who would invest with you locally increased. This has increased the interest of angel investors in Turkiye.”

“Angel investment networks started to be established in Antalya”

Explaining that when the cross-border investment system is entered, there is a need for co-investors to make joint investments in the local area, Altuntas continued his words as follows:

“Because you need to have such an investor to follow the post-investment activities. Angel investor networks need to be established in order to find local investors. Angel investment networks have started to be established one by one in Antalya. The ‘Angel Investment Commission’, which was established by the Antalya Organized Industrial Zone, is also working intensively on this issue. When the investors coming here meet with local investors, the investment process accelerates.”

Source: Trthaber / Translated by Irem Yildiz

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