Startups offering environmentally friendly and sustainable solutions have attracted substantial investments from global funds in 2023, with the momentum maintaining pace this year.

Around $30.3 trillion has been invested in sustainable assets worldwide, according to the 2022 Global Sustainable Investment Review (GSIR), highlighting the growing prominence of environmentally focused investments in the global market.

In Türkiye, regulatory changes are expected to further accelerate progress in this sector.

Through its venture capital arm, TT Ventures, Türk Telekom, one of Türkiye’s leading telecommunications and technology companies, is investing in Evreka, a smart waste management company dedicated to digitalizing waste management and recycling processes.

Billion-dollar investments

Since 2020, sustainable asset management outside the U.S., particularly in Canada, Europe, Japan, Australia and New Zealand, has increased by 20%. These investments are increasingly targeted at supporting the transition to net-zero emissions and tackling environmental challenges with innovative solutions.

In 2023 and 2024, startups in the sustainability and environmental sectors have secured significant investments, driven by growing global awareness. For instance, Commonwealth Fusion Systems, which is working on commercial fusion energy, has raised $2 billion, reflecting the rising investor interest in technologies promising large-scale environmental solutions. Similarly, Aurora Solar, a developer of solar energy solutions, received $523.5 million to accelerate its growth in the sector.

Solar power plants

Türk Telekom Ventures, through its venture capital investments and the Pilot startup accelerator program, plays a key role in supporting the growth of innovative startups that offer green and sustainable solutions.

Türk Telekom Ventures remains committed to supporting these startups, including investments in solar power plants and the E4 Electric Vehicle Charging Network project, both of which represent significant steps toward environmentally friendly technologies.

"We are taking significant steps in eco-friendly technologies with our investments in Solar Power Plants and the E4 Electric Vehicle Charging Network project, contributing to shaping the future by supporting innovative startups. Startups in our Pilot accelerator program, such as Some Carbon, Workybe, Blok-Z and Optiyol, contribute to environmental sustainability with their solutions, while Evreka, in which we have invested through TT Ventures, focuses on digitalizing waste management and recycling processes," said Muhammed Özhan, general manager of Türk Telekom Ventures.

"We prioritize the development of leading applications in the sector by supporting startups and fostering synergies and collaborations with Türk Telekom," he noted.

Contributions to sustainability

Türk Telekom Ventures continues to back startups focused on sustainable technologies, with Özhan saying it is committed to elevating Türkiye in the global tech arena while achieving goals that add value to the world and improve the future.

He says the company pays attention to the fact their initiatives that will make Türkiye stand out on a global scale in the field of technology will also "serve the purposes that will add value to the world and improve the future."

"We will continue to support initiatives focused on sustainable technologies to leave a more livable world for future generations," he noted.

Improving waste efficiency

Evreka is revolutionizing waste management and recycling processes by adopting a circular economy model to enhance operational efficiency for companies.

It provides customizable solutions for the entire waste management steps with sustainability as a service vision.

Its products, such as Evreka 360, Waste Dashboard and Evreka AI, aim to fully digitalize waste management, increasing waste efficiency and recycling rates for clients.

Cutting carbon emissions

Optiyol integrates sustainability into logistics processes through route optimization, which enhances operational efficiency and reduces fuel consumption and carbon emissions, thereby minimizing environmental impact and supporting export companies.

Creating reliable reports

GreenLink enables companies to track their energy consumption in real time by matching it with renewable energy sources.

This tool transparently illustrates the environmental impact of energy use, helping companies make informed decisions about reducing their carbon footprint and offering more reliable data for sustainability reports.

Monitoring carbon footprint

Workybe is a sustainability platform that provides AI-driven operational solutions to maximize energy, equipment and team efficiency.

It is actively used in over 4,000 facilities across various regions, preventing 198,000 tons of carbon emissions annually.

Lowering carbon in steel and iron

Some Carbon offers carbon reduction services, converting carbon dioxide emissions from factory chimneys into value-added products like methanol.

Focusing on high-risk sectors such as iron, steel and cement, Some Carbon provides effective solutions for companies to develop their sustainability policies and growth strategies through carbon reduction technologies and carbon management software systems.

Mastercard opens applications for Türkiye leg of Lighthouse program

Mastercard, a leading global technology company in the payments industry, has opened the application process for the Turkish leg of its Lighthouse program, which has already achieved notable success in the Nordics and Baltics.

The Mastercard Lighthouse program is an innovative startup accelerator designed to elevate financial technology startups to international standards

This program connects startups with business partners and investors through Mastercard’s global network, accelerating their scaling process by providing intensive training sessions with Mastercard and industry experts.

Mastercard Lighthouse aims to help Turkish fintech startups find investments and connect them with potential customers and business partners, offering tailored support to meet their specific needs.

The program focuses on eight key areas: payment systems, cybersecurity and risk, financial support and investment, sustainability and inclusion, marketing technologies, efficiency, data and analytics, and small and medium-sized enterprise (SME) solutions.

Through partnerships with leading organizations in Türkiye, Mastercard Lighthouse provides startups with specialized support for operational development and contact with financial institutions and investors.

Applications for the Türkiye leg are accepted through the turkiyelighthouse.com website during August and September. After the evaluation process, selected startups will pitch to a jury. Those chosen by the jury will be officially announced as participants in the program.

Muin Öztop, senior vice president of Mastercard Consulting Services for the Europe, the Middle East and Africa (EEMEA) region, says the company is committed to growing Türkiye’s fintech ecosystem through its strategic initiatives.

"The Lighthouse program is a fundamental part of this strategy, designed to elevate local fintech startups to new heights on the international stage. Lighthouse is much more than an accelerator program; it increases access to stakeholders such as banks, investors, entrepreneurs and entrepreneurial advisors in our extensive network, allowing us to share critical knowledge and solutions in the payments field, while also providing support through our advisory team," said Öztop.

"We believe this program will contribute to Türkiye’s innovation journey and help it secure a leading position in the global fintech industry, alongside various applications and products supporting digital transformation and innovation globally."

Workup Gaming Program opens 2nd term applications

Işbank, Türkiye’s largest private lender that has supported startups through its Workup Entrepreneurship Program since 2017, continues to contribute to specific focus areas within the ecosystem through various entrepreneurship programs in different verticals.

The Workup Gaming Program is one of these. It was set up to accelerate and scale startups in the field of game technologies, an area where Türkiye has a competitive advantage on the global stage.

The program announced it has opened applications for its second term.

In the new term, executed in partnership with accelerator INVEXEN, startups will receive training in game technologies, business development support, and opportunities to connect with investors and publishers.

INVEXEN not only manages acceleration and intrapreneurship programs that integrate corporate companies into the entrepreneurial ecosystem but also offers fund management and consultancy services.

Additionally, the program's investment partners include WePlay Ventures, Türkiye’s most active gaming investment fund with engagements in Europe and Central Asia, and DOMiNO Ventures, which also invests in Central Asia, Eastern Europe and Türkiye.