Information & Communication Technologies
Istanbul’s rising ICT sector has become an important source of growth for the local economy, driven by its younger generation rapidly adopting brand new technologies.
The city is attracting an increasing number of ICT companies and is establishing a strong position as a technology hub. The sharp rise of patent applications, 61 universities, and 11 technoparks offer a large number of opportunities across a diverse set of industries.
Moreover, Istanbul is attempting to boost its ICT sector by increasing access to broadband infrastructure, as its young population demands more and more online services. Now, international companies are increasingly interested in establishing operations in Istanbul, where a young, educated and skilled population offers several opportunities to develop R&D centers for the region.
The analysis of Ernst & Young states that Turkey’s ICT sector will attract significant investments in the coming years, particularly from angel investors and web-based firms founded by private funds. Turkey’s ICT sector, which is mainly concentrated in Istanbul, was the second busiest after energy in terms of mergers and acquisitions.
| Annual Growth Rate of R&D Expenditure: 47% Turkstat 2016 |
Households with Broadband Internet Access: 89.4% Turkstat 2017 |
# of R&D Labor: 62k Turkstat 2016 |
