Startups who fall into among the players created by the new economy want to find solutions and even change the world. However, they need investments to be able to grow and open up to global markets. 500 Istanbul that established in 2016 to support technology, aims to invest 100 initiatives within 5 years.
Among the most important actors of the new economy are startups. Especially the number of startups that have created new technology available solutions and even changing the World by entrepreneurial youths is increasing. Of course, no matter how good the idea is, investors need to be able to grow these initiatives. 500 Istanbul is a fund established to support technology startups.
500 Istanbul that founded in July of 2016, gets into the act under network of investment funds of 500 Startups located in Silicon Valley in the USA. In this model, where 500 Startups leads to many countries in the world, local funds invest in companies and large holdings invest in funds. 500 Istanbul Managing Partner Rina Onur Sirinoglu said: “Our goal is to be able to open up the technology entrepreneurs who have established their businesses to global markets both in Turkey and abroad”.
500 Istanbul has invested in 15 companies from July 2016 until the end of the year. The fund, which invests in six companies in the first three months of 2017, plans to invest 14 more companies within this year. The target of fund for the next 5-year period is to increase the number of ventures invested to 100.