Terminal Istanbul, Turkey aspires to become a global centre for startups via Istanbul’s Atatürk Airport, which was once a busy transportation hub. Someday it will take on a new role and become the “world’s largest” centre for technology and entrepreneurship, according to a senior Turkish official.
In an effort to draw in international startups and establish itself as a major player in the global digital scene, Turkey is now constructing a sizable facility on the site of the former airport under the name Terminal Istanbul.
Terminal Istanbul is envisioned as a new centre for the global technology and entrepreneurship ecosystem, bringing together a wide spectrum of stakeholders under one roof, including young talent, technology businesses, investors, and entrepreneurs.
The project intends to improve Turkey’s skills in artificial intelligence, software, and cutting-edge technologies. It is intended to be one of the biggest technological and innovation hubs in the world.
Terminal Istanbul aims to expedite the development of high-value-added technologies by promoting cooperation between the public and private sectors, academic institutions, and the startup ecosystem.
August is anticipated to see the opening of the project’s first phase
Industry and Technology Minister Mehmet Fatih Kacır told Anadolu Agency (AA) that “Atatürk Airport had served Türkiye for many years, but as passenger demand outgrew its capacity, Istanbul required a new airport.” Turkish aviation has experienced remarkable growth thanks to the new airport, which offers capabilities far beyond those of the old facility. He was referring to the recently opened Istanbul Airport, which in less than ten years has frequently become one of the busiest in Europe, if not the busiest.
Additionally, Kacır stated that President Recep Tayyip Erdoğan is directing the transformation of Atatürk Airport’s terminal buildings into a technology centre that would continue to support Turkey’s economy.
“Under the Terminal Istanbul brand, this will become the world’s largest technology entrepreneurship centre. We are preparing to open the first phase, covering 5,000 square meters,” the minister said.
“Once the project is completed next year, we will have created a 200,000-square-meter campus serving Türkiye’s technology entrepreneurship ecosystem, as well as entrepreneurs and investors from around the world,” he added.
Terminal Istanbul will be a unique centre, distinguished not only by its scale but also by its ecosystem.
“It will be the world’s largest entrepreneurship center, hosting accelerator programmes across various industries led by major companies and technology leaders. Partners running startup acceleration programmes from the U.S., Europe, China and other parts of Asia will also work with us here, making this a truly exceptional hub.”
“We are diversifying financing mechanisms that will help startups scale more quickly. At the same time, we are building infrastructure that will enable entrepreneurs to commercialize their prototypes faster. All of this will make Terminal Istanbul a unique entrepreneurship hub,” he maintained.
“It will also serve as a vibrant social destination. Some of Istanbul’s best restaurants and cafes will operate here,” he suggested.
Additionally, he noted that although a scientific centre would offer educational opportunities for kids, students, and families, an AI and software school would help train young people in these sectors. The centre would have a sizable exhibition space that could accommodate some of the top technological shows in the world.
According to Kacır, this will make Terminal Istanbul a popular destination for both Turkish nationals and visitors to Istanbul and Turkey.
The minister stated that private aircraft operations will continue at Atatürk Airport and that the objective is for managers of venture capital funds arriving by private jet to enter Terminal Istanbul directly and meet companies in the industries they are interested in investing in.
“This will be a centre that brings together all stakeholders in the ecosystem, entrepreneurs, financial executives, venture capital funds, talent development organizations, accelerator programme managers, corporations and public institutions,” he added.
Assistance for business owners
When asked where Terminal Istanbul will be in five years, Kacır responded, “Five years from now, Terminal Istanbul will be the world’s largest entrepreneurship centre, home to thousands of entrepreneurs.”
According to him, the centre’s entrepreneurs would profit from a variety of funding alternatives, support systems, accelerator programmes, and collaboration chances.
The government wants to expand the number of Turkish unicorns, or Turcorns, which are worth over $1 billion, according to Kacır.
“Türkiye currently has eight Turcorns. Through our Turcorn 100 Programme, we are preparing more than 30 startups to achieve unicorn status. Terminal Istanbul will serve as a catalyst in that journey, enabling startups to scale more rapidly,” he said.
“The centre would offer worldwide invitation programmes for global entrepreneurs. Turkey has implemented a legal framework that permits the registration of digital companies, which facilitates the establishment of online businesses by entrepreneurs. Terminal Istanbul is anticipated to take the lead in carrying out this project.”
Collaborations
According to Kacır, in order to make Terminal Istanbul a global hub for investment and entrepreneurship, the ministry is collaborating with international startup accelerator programmes, especially Techstars, one of the biggest accelerators in the world established in the United States, as well as investment funds in Shanghai, the Gulf region, and Europe.
According to him, these collaborations aim to establish the centre as a major hub for global entrepreneurs and venture capital investors, contributing to Terminal Istanbul’s transformation into a popular destination.
Aspiring business owners
Addressing young entrepreneurs, Kacır identified Türkiye as an address “where dreams can become reality and where globally successful technology startups can be founded and grow.”
“I encourage our young people to pursue their dreams and never give up on entrepreneurship. This centre has been built for them. Here, they will have access to opportunities beyond what they could find anywhere else in the world,” he said.
Additionally, the project’s initial phase will open this month, and the entire campus should be operational by the following year.
“God willing, starting in August, the initial phase will begin serving entrepreneurs. Ultimately, this will be a centre spanning more than 200,000 square meters, and we aim to have all of its components fully operational next year,” he noted.
“More than 60 startups have already applied and secured a place in the centre. That is an encouraging number for the initial phase, but in the long-term this will be a hub hosting thousands of startups.”
Source: Daily Sabah
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