Istanbul hosts Angel Investor Forum, adding to their $50b business volume

Istanbul hosted a two-day World Business Angels Investment Forum (WBAF) attracting a number of policy makers, entrepreneurs, financial institutions and representatives, and angel investors from across the globe.

Providing  a platform  to innovators, startups, and SMEs, WBAF is being full-frontal in collaborating globally to promote world economic development by establishing various financial instruments.

“The Forum interacts with leaders in all areas of society, first and foremost in business and political spheres, to help assess needs and establish goals, bearing in mind that the public interest is of paramount importance. It engages a wide range of institutions, public and private, local and international, commercial and academic to help shape the global agenda,” the website says.

The event also witnessed the presence of several Balkan leaders, including Croatia’s President Kolinda Grabar-Kitarovic and Kadri Veseli, president of the Assembly of Kosovo, who addressed the gathering with speeches. The forum also brought forward Turkey’s Youth and Sports Minister Mehmet Kasapoglu and former Finance Minister Mehmet Simsek.

All in all, 110 speakers from 42 countries gathered at the event. It hosted 53 startups from more than 20 countries representing their startup ideas in front of the investors.

About Angel Investment

The Angel Investor Forum is a group of investors who finance their own money in startup companies. Angel investment market has a billion-dollar business expansion in several dominant countries.

“Angel investment market has $50 billion volume in Africa, Asia, Europe, and America,” Baybars Altuntas, chairman of the World Business Angels Investment Forum (WBAF), told Anadolu Agency during the WBAF 2019 in Istanbul.

Altuntaş also stated, “Turkey has become the fifth-largest angel investment market in Europe, with an investment exceeding 500 million euros last year. The reason for this rapid development is that Turkey is the only country after the United Kingdom that has a law on this issue. As of the end of 2018, a total of 471 angel investors have been accredited by the Ministry of Treasury and Finance. They can deduct 75 per cent of their investment from taxes, which is the highest rate in the world. Thus, Turkey has made rapid progress in the startup economy.”

The business angel market is expected to reach $250 billion global volume in five years, according to the world forum of angel investors head.