Most of fastest-growing companies based in Ankara

ANKARA

Eight of the 10 fastest-growing companies in Türkiye are headquartered in Ankara, according to the Türkiye’s Fastest-Growing 100 Companies list.

The ranking, prepared under the leadership of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) in cooperation with the Economic Policy Research Foundation of Türkiye (TEPAV) and TOBB University of Economics and Technology (ETÜ), was based on revenue growth between 2021 and 2023.

The list features companies from 25 provinces and 34 different sectors. On average, the top 100 companies increased their sales revenues by 1,644 percent during the period, a growth rate six times higher than Türkiye’s nominal GDP growth. Of these, 24 are based in Ankara, 22 in Istanbul and six each in Balıkesir and İzmir.

Ankara-based Deeptech Universe claimed the top spot with a staggering 19,153 percent revenue growth in two years. Kahramanmaraş’s Batı Kipaş ranked second with 18,093 percent growth, while Istanbul-based Figo came third with 5,126 percent.

The list shows strong export performance, with 67 of the companies exporting to 67 different countries, with Germany standing out as a key market.

The companies are relatively young, with an average age of 11.9 years. The average age of CEOs is 45, and 11 companies are led by CEOs under the age of 35. Seven companies in the top 100 are headed by women.

Computer programming and consultancy emerged as the most represented sector, followed by wholesale trade and machinery and equipment manufacturing.