A meeting began in Istanbul yesterday of international suppliers of seed money for enterprises such as start-ups and entrepreneurs, with hundreds of the world's business leaders and industry experts in attendance. Speaking at the opening ceremony of the World Business Angels Investment Forum (WBAF), its chairman said Turkey provides the highest tax incentive in the world for angel investors partnering with entrepreneurs through capital support.

Baybars Altuntas, the head of the WBAF, said the country offers 75 percent or 100 percent tax exemption on income tax to investors partnering with entrepreneurs.

Altuntas said angel investors are the only source of "smart finance," which requires start-ups, scale ups and entrepreneurs.

Explaining that Istanbul hosted a number of business empires and comes second after New York in having the most diplomatic mission, Altuntas said the city is the right place for the event for angel investors, who he called the "real empires of the 21st century."

The two-day event, with official partner Visegrad Group along with the Czech Republic, Hungary, Poland and Slovakia, will host 26 panel discussions, 17 keynote speeches, nine chats, five presentations, one governmental meet up, two workshops, two master classes and one short course.

Benefits and challenges of the angel investor community, ways to connect the early-stage market ecosystem and facilitation of the democratization of finance by expanding access will be discussed at the forum.