Comparative Report on Startup Ecosystems of Saudi Arabia and Türkiye

Türkiye showcases a more established, mature ecosystem with notable success in gaming and a strong foundation in seed-stage funding and global connectivity (Istanbul Airport). In contrast, the recent momentum in Saudi Arabia is characterized by explosive growth, heavily driven by massive capital inflows, particularly within the Fintech sector, signaling a potential shift towards later-stage mega-deals, a report by chatgpt revealed.

1. Ecosystem Ranking and Global Position

Global Ecosystem Rank

Türkiye (Istanbul): (Emerging)13th (up from 16th in 2023)        

Saudi Arabia (Riyadh): 23rd (Significant climb, gained 60 places)

Key Insite: Türkiye has a higher current global ranking, while KSA demonstrates the most rapid recent upward trajectory in global perception.

Regional Connectivity 

Türkiye (Istanbul): Istanbul Airport ranked as the world’s most connected airport.          

Saudia Arabia: Not explicitly detailed in available data, though Vision 2030 emphasizes infrastructure.

Key Insite: Türkiye leverages its strategic geographical position via air connectivity.

2. Investment Activity and Scale

The investment profiles of the two nations show a distinct difference in the nature of the capital flowing in during recent periods.

Türkiye: The ecosystem has strong performance at the early stages, ranking 2nd globally in the number of pre-seed deals in 2024. The focus has historically been on building out the foundation (angel networks, VCs, TÜBİTAK BiGG support for ideas).

Saudi Arabia: The ecosystem is driving massive regional surges through late-stage and debt financing. Q3 2025 saw MENA funding surge to $4.5 billion, largely propelled by KSA startups raising $2.7 billion in that quarter alone. A major component of this was a single $2.4 billion debt facility secured by a large local entity (Tamara), indicating a massive influx of capital for scaling or working capital.

3. Sectoral Focus

Both countries are prioritizing high-growth technological sectors, but their immediate strengths differ:

Türkiye: Exhibits dominance in Gaming (Istanbul having the 2nd highest number of gaming studios in Europe) and strong growth in AI and Fintech. 

Saudi Arabia: Fintech is highlighted as the flagship industry, largely responsible for the surge in recent regional funding. This strong push suggests a strategic, government-backed focus on digitalizing financial services.

Conclusion

Türkiye presents a structurally mature ecosystem with proven support mechanisms from idea to early-stage scaling, benefiting from excellent international connectivity. It is a consistent regional player.

Saudi Arabia is currently demonstrating unparalleled velocity, driven by massive, concentrated investment—particularly in its strategic Fintech sector—resulting in significant upward movement in global rankings. It is currently the larger driver of capital inflow in the immediate term within the wider MENA region.

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