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"A newly founded association in Turkey will offer Turkish entrepreneurs capital for start up ventures. It is designed to help people who have great ideas but not enough money to get started. The Business Angels Association Turkey (TBAA) has been set up to start new businesses that will create jobs for the country’s youthful population, and further stimulate economic growth.
It is essentially an introduction service to bring entrepreneurs and wealthy individuals together in what is being called a “culture partnership” so that promising ideas can come to fruition, benefitting everyone involved. The same system has already been successfully implemented in the US and has brought together 27,000 investors who have brought in around $26 billion in capital to support US start-ups. It’s the same story in Europe where this idea has meant 75,000 Europeans have put up 4 billion euros to finance projects.
As yet, there are no firm figures to show how successful this scheme is likely to be in Turkey, but it is estimated one in two of the population would like to start their own business, compared to one in twelve in the US, and one in thirty five in Germany. If this estimate is true then there are literally tens of thousands of entrepreneurs just waiting for the chance to start their own business.
The association works by finding a wealthy person who once used to be an entrepreneur, so that a potential idea for a new business can be submitted for their approval. At the moment the association is currently looking for people, including foreigners, who are willing to invest in Turkish businesses.
