Functioning of Angel Investor Ecosystem in Turkey: A Study on Aegean Region Angel Investors

  • Elif Dursun Dokuz Eylul University/MBA Student
  • Fahreddin Tekin
  • Akın Karaosmanoglu


Turkey is at its infancy regarding the Angel Investment Ecosystem although it has a huge potential of Entrepreneurial Activities. There exist various alternatives for promoting start-ups or individual entrepreneurs such as KOSGEB, TOBB, bank loans, Incentives of Ministry of Economics, etc. However, those also come with strict procedures and bureaucracy which discourage the entrepreneurs having creative ideas. In this regard, angel investors are seemed to be the shortcuts to the actualization of the idea and the achievement eventually. Angel Investment Ecosystem in Turkey is also advantageous because it is backed up by Regulations published in 2013 (Individual Participation Capital Legislation published on 15 February 2013, in official newspaper of Turkish Republic). In this study, a broad history of Angel Investment Ecosystem in Turkey is analysed to form a pattern on Angel Investors' decision making process and angels' role on the actualization of entrepreneurial idea. We use samples from Aegean Region in which contains high potential of improvement in this Ecosystem. Angel Investors from Aegean Region and the entrepreneurs they have invested on are interviewed to gather information for understanding of how the angels decide and how the Ecosystem functions. Comments on findings and foresights for the future of angel investing in Turkey are presented as the conclusion.
Jan 21, 2017
How to Cite
DURSUN, Elif; TEKIN, Fahreddin; KARAOSMANOGLU, Akın. Functioning of Angel Investor Ecosystem in Turkey: A Study on Aegean Region Angel Investors. European Journal of Multidisciplinary Studies, [S.l.], v. 2, n. 1, p. 32-40, jan. 2017. ISSN 2414-8385. Available at: <>. Date accessed: 14 july 2020. doi: