After Mobidictum: Gaming and Entrepreneurship in Turkey
Since the mid-2010s, Turkey’s gaming industry—especially in mobile games—has seen remarkable growth. Unicorn-status companies, successful exits, and significant investments have increased interest in Turkey’s gaming ecosystem. Events have played an important role in attracting both local and international investors and major game companies to recognize this ecosystem and its opportunities. Among these events, Mobidictum stands out. This year, as Boğaziçi Ventures, we participated with a dedicated space, which gave us the chance to both build networks and feel the pulse of the sector.
Since the mid-2010s, Turkey’s gaming industry—especially in mobile games—has seen remarkable growth. Unicorn-status companies, successful exits, and significant investments have increased interest in Turkey’s gaming ecosystem. Events have played an important role in attracting both local and international investors and major game companies to recognize this ecosystem and its opportunities. Among these events, Mobidictum stands out. This year, as Boğaziçi Ventures, we participated with a dedicated space, which gave us the chance to both build networks and feel the pulse of the sector.
During the two-day event, we met with more than 50 studios operating at different stages and in different fields. We listened to their insights about the sector and their projects. While each had their own story and timeline, some common themes emerged as issues that all stakeholders were trying to solve: post-pandemic transformation, difficulties in raising capital due to the global economic recession, platform policies, and challenges in retaining skilled employees.
New Paths After the Pandemic
During the pandemic, the digital entertainment sector experienced massive growth as people spent more time at home. Between 2020 and 2022, the gaming industry became the dominant segment of entertainment. However, since the summer of 2022, as life normalized, annual growth rates in gaming also normalized. Game and tech companies that grew rapidly during the pandemic revised their strategies to adapt to new dynamics. In the mobile gaming sector especially, major studios reduced headcount, some shut down entirely, and publishers shifted to leaner operations. Meanwhile, average salaries decreased due to excess talent in the market. Though these changes may seem negative, they actually reflect the natural adjustments of a healthy industry finding balance.
One striking trend in the Turkish gaming sector is the pivot of many studios from mobile platforms to PC, console, or AR/VR platforms. At Mobidictum, we observed this transition gaining momentum. The distribution between mobile-focused and other-platform-focused studios is now nearly half-and-half. Early-stage studios are moving to PC to pursue passion projects, while established mobile studios are launching side projects to diversify revenues. This shift demonstrates the agility of the sector.
Of course, changing platforms brings new challenges: different target audiences, marketing and monetization strategies, testing and development processes, and building new publisher and investor networks. But as an ecosystem that has already proven itself on mobile, we believe these barriers will be overcome quickly. Well-positioned studios, publishers, and investors are sure to become industry standouts in the coming years. As Boğaziçi Ventures, we’ll experience and evaluate the soundness of our own decisions through our collaboration with ecosystem partners.
Fundraising Challenges Amid Global Recession
2022 and 2023 were financially tough years. In both Western and Eastern economies, companies opted for safer, smaller budgets over big risks. This trend reduced both the size and number of major acquisitions and post-Series A investments. While themes like Generative AI and sustainability rose to prominence, early-stage game companies struggled to secure funding and justify desired valuations. Startups had to adapt—modifying valuations, business plans, and projects. Some trimmed digital marketing budgets or partnered with publishers to cut costs, focusing instead on shorter-term goals.
In conversations with studios at the event, we emphasized that to minimize perceived investor risk, startups either need to reduce cash burn with lean teams or prove potential success with promising user metrics.
Platform Policies in Game Development and Publishing
Game development and publishing rely on many platforms and tools—from game engines to animation software, analytics tools to publishing platforms. Each of these comes with its own costs and compliance requirements. The competition between Unity and Unreal Engine, for example, will continue to spark debate over which engine suits which project. Unreal Engine’s new mobile development features may cause fresh industry shifts.
Meanwhile, Apple’s privacy-driven policy changes increased marketing costs and reshaped how marketers work. Google’s upcoming similar policy will further restrict user data collection. These changes push both marketers and developers to rethink user acquisition and ad revenue strategies. With less access to user data, success will depend more on creative and effective marketing approaches.
Retaining Skilled Team Members
In the gaming sector, where everyone has big dreams and high expectations, retaining experienced employees is especially challenging for early-stage startups. Funding difficulties, foreign companies’ interest in Turkish talent, and new technologies that allow small teams to create prototypes all contribute to this issue. To keep their best people, startups are offering equity or future revenue shares, which appear to be reasonable solutions to remain competitive.
Looking ahead, such incentives will likely become standard in hiring processes. By offering equity or revenue-sharing, startups can increase employee motivation and strengthen long-term sustainability.
Overall Assessment
Despite challenges, Turkey’s gaming sector continues to grow alongside global markets. Quick, targeted solutions are being developed for capital shortages, technical barriers, and human resource issues. With platform shifts, new marketing strategies, and fresh approaches to revenue generation, we believe those navigating this “perfect storm” will emerge stronger. As Boğaziçi Ventures, we found Mobidictum to be a highly insightful and productive event that gave us valuable projections for the sector.
Looking Ahead
The dynamic changes in the gaming industry create both opportunities and challenges for all stakeholders. Growing interest in PC, console, and AR/VR games, alongside mobile, is expanding and diversifying the industry. This variety not only enables developers and publishers to succeed across platforms but also opens new, lucrative opportunities for investors.
Meanwhile, technological innovations and trends show no signs of slowing. Blockchain and NFT-based games, in particular, hold significant potential—offering new experiences for players while introducing fresh business models and revenue opportunities for developers and investors. These shifts are reshaping both game development and business strategies.
At Boğaziçi Ventures, we closely follow these innovations and assess investment opportunities in the sector. Adapting quickly to emerging technologies and evolving market dynamics remains a cornerstone of our investment strategy. Events like Mobidictum are crucial platforms for shaping these strategies and understanding industry innovation.
Conclusion
The Mobidictum event was an excellent opportunity to connect with stakeholders, discuss challenges, and share insights on the sector’s future. The knowledge and observations we gained will guide us in shaping investment strategies and business models. At Boğaziçi Ventures, we’ll continue working to adapt to these dynamic shifts and deliver the best opportunities for our investors.
Meeting new faces, catching up with familiar ones, and discussing shared challenges was a pleasure. We look forward to gathering again at the next event.