Agencies
Turkey’s gaming startup ecosystem has grown globally in recent years, driven primarily by a blend of high-profile exits, substantial investments, growing interest in the field and innovative entrepreneurs.
The industry’s evolution from its humble beginnings underscores its remarkable trajectory to a thriving ecosystem.
The roots of Turkey’s gaming industry date back to the early 2000s, when early digital games like Backgammon and Okey emerged on platforms such as Superonline and Mynet. Initially powered by Java and later transitioning to Flash-based versions, these games set the stage for the industry’s future expansion.
Before 2010, Turkey’s gaming ecosystem was built on bootstrapped ventures, lacking venture capital (VC) firms, angel networks or institutional investment support, apart from a single Fund of Funds (VC), according to Invest in Turkey.
This changed with the arrival of external investments in 2009 and 2010, catalyzing the growth of startups like Peak Games (later acquired by Zynga), Markafoni (later acquired by Naspers) and Trendyol (later acquired by Alibaba). These successes laid the foundation for a robust VC-backed startup ecosystem.
Mobile gaming has become the dominant platform in Turkey, with 44 million players recorded in 2023. Casual and puzzle games resonate strongly with local preferences, driving steady growth.
Dream Games, a standout in the sector, secured the largest share of investments in 2021 and 2022, according to Mobidictum.
Burak Yılmaz, CEO of the Istanbul-based gaming company Weplay Ventures, recently told Anadolu Agency (AA) that Turkey ranks among the top countries in the world regarding mobile gaming.
Stressing that Turkish companies are making the most money after American and Israeli companies on mobile gaming, Yılmaz noted that the country’s young population is a pivotal driving factor in the industry’s growth.
He also noted that Turkey needs to improve its structures in computer and other gaming platforms beyond mobile, adding that diversification of genres would propel the country further in the global industry.
Speaking to AA, Barış Özistek, chairperson of Istanbul-based gaming company Joygame, also emphasized the surge in Turkiye’s mobile game ecosystem in recent years.
“Especially in the last 10 years, the mobile game ecosystem developed super-fast. Right now, we have more than 500 game companies in Turkey,” he noted.
In contrast to the mobile gaming sector, console and PC gaming have experienced declines, with player numbers falling to 11 million and 20 million, respectively. Despite this, the sector’s diversification efforts hold promise to broaden its reach.
Peak Games’ $1.8 billion acquisition by Zynga in 2020 marked a turning point for Turkey’s gaming industry as the country’s first unicorn.
Highlighting the impact of this event, Yılmaz said 20 gaming companies were born from Peak Games following the company’s exit in 2020, adding that the evolution of this realm as a “stable” industry is a “process that might take some time.”
Özistek echoed these sentiments, noting the industry’s evolution since Joygame’s acquisition by South Korean giant Netmarble in 2013.
“That was the first time a game company exited Turkey. And that was the first time a global, multinational game company invested in that region, not only in Turkey but also in Eastern Europe and the Middle East region.”
By the mid-2010s, accelerators and investors in the gaming world increasingly recognized the importance of globalization, prompting a surge in visits and programs centered around Silicon Valley.
This marked a pivotal shift as entrepreneurs began focusing on entering new markets and expanding their reach beyond local boundaries.
In parallel with this situation, Turkey has witnessed growing foreign interest in acquisitions and partnerships, solidifying its position as a key contributor to the global gaming industry and a promising destination for investors seeking innovative, high-growth opportunities.
Istanbul has become a thriving gaming hub Today, Istanbul is a locomotive behind this rapid growth as Europe’s second-largest gaming hub in terms of studio density, second only to London.
This growth is supported by 13 game-focused venture funds and accelerators that provide early-stage funding and strategic guidance, empowering local talent to scale their ventures efficiently.