ISTANBUL (AA): The business angel market will have $250 billion global volume in five years, according to the world forum of angel investors head. “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.
Altunbas said that 340,000 business angels made €9.6 billion ($11.33 billion) worth of investments in Europe, while 320,000 others invested $26 billion in the US last year. “Turkey ranked fifth with €512 million (over $600 million) worth of angel investment in Europe,” he said.
Turkey became an innovation hub in a region, that covers Southeast Europe, Middle East, and South Caucasus, Altuntas asserted.
“Best technology development zones and tax incentives for start-ups are in Turkey,” he cited for Turkey’s holding an important place in the market. In Turkey, business angels, who invest in entrepreneurs’ ventures up to 1 million Turkish liras (over $188,000), can deduct 75 percent of their investments from taxes.
On the WBAF 2019, Altuntas stated that this year’s forum focuses on angel investors who aim to cooperate with family companies and asset management firms.
“Start-ups and angel investors can contact in the WBAF, which is hosting leading names from the business world.”
The two-day WBAF, started on Monday, is hosting policymakers, entrepreneurs, representatives of financial institutions and companies, and hundreds of angel investors from all around the world.
This year, the event, for which Anadolu Agency is the global communications partner, was organized under the theme of “Connecting angel investors with private equity funds to boost innovation.”
During the event, 110 speakers from 42 countries will give speeches in 23 panels, two masterclasses, and six international workshops.