What Topic Does Platin Yaka Cover in This Article?
In this article, by providing information for companies and startups that want to go global, we explained the steps that should be taken at this stage and the ways to get consulting from Platin Yaka.
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Getting Started
The dynamic technology ecosystem in Türkiye produces more and more innovative technology companies and tech startups every day. However, the limits of the local market are often not enough for these companies to fully realize their potential.
This comprehensive guide addresses in detail the opportunities, challenges, steps you need to take, and consulting possibilities you will encounter on your foreign growth journey.
Why Should You Go Global?
Foreign markets mean larger customer bases, more diverse revenue streams, and usually higher valuations. Especially for tech startups, a global vision is the key to attracting the attention of potential foreign investors.
The European Union market, when considered as a single market, has a much larger consumer base and investment potential than Türkiye. The United States, on the other hand, continues to be the heart of technology investments and innovation.
Turkish technology companies and tech startups should go global both for growth and to take a step that accelerates innovation, diversifies their financing sources, and increases their competitive power.
Market Selection and Entry Strategies: Where to Start?
One of the most critical steps of the foreign growth journey is the right market selection. Each market has its own dynamics, cultural differences, and regulations. For this reason, comprehensive market research and validation are essential.
When doing market research, you should consider the following factors:
- Market Size and Growth Potential: What is the current size of the target market and its growth expectations in the coming years?
- Competitive Environment: How many competitors are there in the market? What are their strengths and weaknesses? How will your product or service provide differentiation?
- Customer Needs and Behaviors: What are your target audience's needs, purchasing habits, and cultural expectations? How well does your product fit these needs?
- Regulations and Legal Framework: Are legal matters such as taxation, data privacy (e.g., GDPR), business establishment processes, and industry regulations suitable for you?
- Economic and Political Stability: Is the target market's economic and political situation suitable in terms of investment security?
In addition, you can test your product's market demand through pilot projects, surveys, or focus groups. This process will allow you to adapt your product to local needs.
What Are the Market Entry Models? Is It Possible to Get Consulting?
While globalizing your technology company, your market entry strategy is also quite important. Here are the common market entry models:
| Entry Model | Description | Advantages | Disadvantages |
| Direct Export | Selling the product directly to customers in the target market | Low cost, full control | Limited market knowledge, logistical challenges |
| Licensing/Franchising | Licensing your product or technology to a local partner | Low risk, fast entry, local expertise | Loss of control, revenue sharing |
| Joint Venture | Creating a new company by partnering with a local company | Local market knowledge, risk sharing, pooling of resources | Cultural differences, management disagreements |
| Direct Investment (Opening a Branch/Office) | Setting up your own operations in the target market | Full control, brand awareness, local presence | High cost, high risk, long setup time |
| Acquisition | Acquiring an existing company in the target market | Fast market share, an existing customer base, established operations | High cost, integration challenges |
You can choose one of the market entry methods by considering your company's size, your financial resources, your risk tolerance, and the characteristics of the target market.
In this process, you may need to get consulting and have an expert and experienced leader guide you. Nilgün Esgin Güden, an expert in her field who, in her corporate career of over 20 years, served as a mid- and senior-level executive at leading firms in different industries such as FMCG, telecom, transportation, and insurance, says:
"I recommend getting consulting when you want to enter a new market, during digital transformation processes, when strategic planning or financial restructuring is needed, and when you want to redesign processes more efficiently."
Getting consulting in the globalization process, in which you will need support in many respects, is a quite effective method. Review the expert profiles on Platin Yaka right away and get consulting easily.
How Do You Attract Investors Abroad?
In the globalization journey, financing is one of the most important obstacles. We have compiled the investor types and their expectations for technology companies and tech startups in Türkiye:
Foreign investors usually focus on companies at different stages:
- Angel Investor: Usually invests in early-stage (seed) startups. Offers capital as well as mentoring and network connections.
- Venture Capital (VC) Fund: Invests in startups with rapid growth potential. They are usually active in Series A and later rounds.
- Corporate Investor: Large companies make strategic investments through their own venture capital arms.
- Crowdfunding Platforms: Can be an alternative financing source, especially for B2C products.
In addition, you need to do comprehensive preparation before meeting with foreign investors:
- Prepare a detailed business plan and realistic financial projections (3-5 years).
- Prepare an impressive presentation that summarizes your company's story, product, market, team, business model, and financial expectations to present to investors. Make sure this presentation complies with global standards.
- Make sure your company's legal structure is suitable for international investments. If necessary, you can consider establishing a holding structure or an international company.
- Attend international startup events, conferences, and investor meetings.
- Connect with potential investors through platforms such as LinkedIn.
- Keep your financial, legal, and operational documents in order to be ready for the detailed examination (due diligence) investors will conduct.
What Are the Foreign Startup Programs and Accelerators?
Foreign startup programs and accelerators offer quite suitable opportunities for tech startups' market access. Let's examine the features of these programs together.
1. Accelerator Programs: These are intensive programs usually lasting 3-6 months. In exchange for a small investment, they offer mentoring, office space, and the opportunity to meet investors with a "demo day" at the end of the program. Examples:
2. Incubators: These are longer-term and less intensive programs. They provide early-stage startups with office space, basic mentoring, and access to resources. Examples:
3. Corporate Startup Programs: These are programs organized by large companies to support innovation in their own industries. Examples:
When applying to these programs, we recommend that you pay attention to the industry the program focuses on, the stage, and the advantages it offers.
Partnership and Customer Acquisition Strategies
For technology companies that want to succeed in foreign markets, understanding local dynamics, building the right partnerships, and developing effective customer acquisition strategies are also of vital importance.
In this respect, local partners can help you understand the cultural nuances, ways of doing business, and customer expectations in the target market. To choose the right partner, you should do detailed research.
If you have a growth-stage company and want to advance the process of expanding abroad professionally, fractional leadership is just right for you. Working full-time with an experienced leader may not be suitable for you budget-wise. At this point, fractional leadership is an extremely suitable solution.
Thanks to the Platin Yaka platform, you can find the opportunity to work with leaders who have decades of experience in areas such as investment, expanding abroad, and corporate governance. Meet the Platin Yaka experts who can guide you with their global insights and executive experience!
On the other hand, in the globalization process, your customer acquisition strategies in the target market should be suited to the local culture and consumer behavior.
- Adapt your product's interface, content, and marketing materials to the target market's language and cultural expectations.
- Identify the digital channels the target market uses most (search engines, social media platforms, local forums) and create marketing campaigns specific to these channels.
- Communicate face-to-face with potential customers and increase your brand awareness by attending industry events and fairs in the target market.
- Promote your product or service by building relationships with local media organizations. Try to create local success stories and references.
- Determine a competitive pricing strategy by considering the target market's purchasing power, competitive environment, and local taxation rules.
A Sample Case: Peak Games
Peak Games, an example of a successful Turkish technology company, became a global leader in the mobile gaming industry. From the beginning, the company focused on developing games that appeal to a global audience. It localized its games according to different languages and cultural expectations. It reached millions of players with effective digital marketing strategies and user acquisition models.
Peak Games was acquired by Zynga in 2020, marking one of the largest exits of the Turkish technology ecosystem. This success came about with a combination of a global vision, data-driven product development, and effective marketing strategies.
Let Your Globalization Journey Begin with Platin Yaka!
For technology companies and tech startups in Türkiye, globalization is a necessity for sustainable growth, innovation, and a competitive advantage. As we addressed in this guide, many factors—from attracting foreign investors to the right market selection, and from legal compliance to effective customer acquisition strategies—will be decisive on your global success journey.
Now is the time to take action and turn your global vision into reality!
To plan your global growth strategies in more detail, meet with experts, and discover tailored solutions, you can visit the Platin Yaka platform and stay informed about the latest globalization trends by subscribing to our newsletter.
To learn experts' approaches to current topics and their career journeys, we strongly recommend that you check out the talks prepared and hosted by Mehtap Yıldız!
Discover the "Platin Yaka Podcast Series"!
Frequently Asked Questions
Why do foreign investors invest in Turkish startups?
Foreign investors show interest in technology startups in Türkiye because of their high growth potential, talented engineering pool, and competitive cost structure. Technology companies that offer globally scalable business models and innovative solutions are attractive options for investors.
How do you apply to foreign startup programs?
To apply to foreign startup programs, online application forms are usually filled out. Documents such as a business plan, pitch deck, team information, and financial projections are requested. It is important to clearly emphasize your suitability for the industry and stage the program focuses on.
Which countries are the most attractive markets for Turkish technology companies?
The most attractive markets for Turkish technology companies are generally European Union countries (Germany, the UK, the Netherlands), the USA, and Middle Eastern countries. Market selection varies according to the nature of your product or service, the competitive environment, and cultural proximity. By getting support from Platin Yaka experts, you can find the market most suitable for you and your product.
What is the most effective strategy for customer acquisition in foreign markets?
The most effective strategy for customer acquisition in foreign markets is localization (cultural adaptation of product and marketing materials), digital marketing campaigns specific to the target market, and building local partnerships. Participation in local events also increases brand awareness.
How can I find a consultant on the Platin Yaka platform?
Platin Yaka offers a user-friendly process to match entrepreneurs and companies with the most suitable consultants.
Step 1: Sign Up
- Go to the Platin Yaka website.
- Create an account from the Sign Up section using your email address.
- Enter the code sent to your email address in the relevant field.
Step 2: Choose an Expert
- Go to the experts section to choose the ones suitable for you from among the hundreds of expert consultants on the platform.
- In the search section, you can also type the area or title in which you expect your potential consultant to have experience.
- The expert's profile page features their experience, areas of expertise, and references. You can choose the consultant suitable for you based on this information.
- If you wish, you can review the Corporate or Individual solutions in the Services category on the site. When you choose the one suitable for you from these solutions, you can see the consultants related to the topic.
Step 3: Book an Appointment
- Choose the package suitable for you from those on the consultant's page. At this stage, you will need to enter your phone number.
- After determining the appointment day and time, make a note in your calendar.
- Before the meeting with the consultant, note down your notes, questions, and the issues you are having trouble with regarding your company and career.
- If you want to get in touch with the consultant before the appointment or have another question, you can send an email to [email protected] or call our support line at 0216 606 8851.
Step 4: Join the Meeting
- To join the online meeting, all you need to do is log in to your account on the Platin Yaka page.
The Platin Yaka team is ready to support you throughout the process!
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