Here is a quick summary from TechCrunch, you can read up more in debt (Credits to Metehan Oguz)
Turkey’s rapid economic growth, even in the face of the global economic downturn, has made it a model for dozens of countries across the world looking to develop everything from a robust banking system to health care reform.
Half of the country’s population is under 30, and Turkey has a higher expected college graduation rate than Italy.
According to the most recent statistics, Turkey had more than 30 million Facebook users – more than France or Germany.
A young population and rapid technology growth means that Turkey is leapfrogging old technologies, with many people using mobile devices for banking and shopping, instead of desktops.
The city is third in the world in the use mobile devices for e-commerce, and more than 4 million people in Turkey use mobile banking.
International capital firms have started backing businesses in Turkey, and a number of local angel investors and venture capital firms are already supporting new startups.
212 Capital Partners recently launched with $30 million in investments, while Dubai-based Abraaj Group has invested more than $800 million in Turkey since 2007, and is raising funds for a $500 million fund devoted to the country.
Flat4Day, Turkey’s answer to Airbnb, has locations in 71 countries and has raised more than $3.5 million in capital.
Startups are not the only companies reaping the benefits of Turkey’s connected society; many established companies have begun to see the many opportunities in the country.
Spotify recently announced that it would offer its premium service in Turkey, in partnership with Vodafone Turkey.
The city has built a series of “Technoparks” to host and support these businesses, offering tax exemptions and reduced operating costs to encourage investments in the technology sector.
Many of the world’s most innovative companies are already invested in Turkey, and the blossoming startup economy will only drive further investment.
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