Istanbul to host major startup investment forum
The first Angel Investor forum in December will bring together those who help new businesses to grow.
ISTANBUL
The first forum for angel investors, who support startup businesses, will be held in Istanbul on December 15-16.
The forum will be sponsored by the Brussels-based European Trade Association for Business Angels, Seed Funds and Early Stage Market Players and it will bring together small- and medium-sized enterprises, public authorities, angel investors, venture capital funds and all institutions that work to facilitate entrepreneurs’ access to finance, according to a press release of the forum.
An angel investor provides capital and sometimes hands-on mentoring, for a startup business, in exchange for shares in the company. Angel investors should not to be confused with venture capital firms which tend to work with large amounts of cash, raised from fund investors.
The two-day forum -- which will be organized jointly by the Business Angels Association- Turkey and Borsa Istanbul -- aims to make access to angel investment better.
During the forum, participants will also have a chance to discuss a brand new approach to the issues affecting European crowdfunding platforms.
Angel investing is relatively new to Turkey, but it is developing every day as young entrepreneurs generate new projects and seek financing. There were 298,800 individuals registered as angel investors in the U.S in 2013, according to the Center for Venture Research at the University of New Hampshire.
According to the Turkish Prime Minister’s Undersecretariat of the Treasury, there are currently 260 registered angel investors in Turkey, 76 percent of whom are from Istanbul.
Around 56 percent of angel investments are made in e-commerce in Turkey, while 44 percent go into software and application development, says a report released this year by the Treasury.
The Turkish law on angel investments, which came into effect in 2012, allows a 75 percent tax deduction for the capital invested. The maximum annual deductible amount is 1 million Turkish Liras (a little more than $430,000).
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
