Haydar Çolakoğlu: “A decade from now, entrepreneurship in Turkey is going to be in a very different place.”

Speaking at a “Türkiye: A meeting-place for Middle Eastern, Mediterranean, Balkan, and European entrepreneurs” panel discussion held during the Turkey Entrepreneurship Summit, YOLO CEO Haydar Çolakoğlu said “We’ll never understand what entrepreneurs are all about just reading about them while we’re sitting on the 35th floor of a holding company’s headquarters tower. Theoretical knowledge is important but to truly understand these people we need to see what’s really going on, we need to actually get our hands dirty. And that’s why I created my own startup business.”

Speaking at a panel discussion moderated by Baybars Altuntaş at Borsa İstanbul, Çolakoğlu said “There’s truly serious investment value to be found in Turkey’s entrepreneurs: There’s quite a serious treasure-trove right under investors’ noses but unfortunately these are opportunities that go unexploited. One reason why international investors invest in Turkey is because the country’s entrepreneurs don’t cost them very much but can generate huge returns.”

Speaking after the panel discussion, Çolakoğlu noted that entrepreneurship as we understand it nowadays is quite a new development in Turkey and has yet to undergo genuine institutionalization. “Turkey hasn’t much of a track record on this front as yet and so institutionalization hasn’t gained traction among startups. Turkey’s still a newcomer in this game but I believe that a decade from now, entrepreneurship in this country is going to be in a very different place. That’s why I attach so much importance to events and gatherings such as this one.”