Connecting tech enterprises with private sector investors to spur sustainable development in Turkey

UNDP Turkey and IICPSD host investor events
Photo credit: Unsplash, Robin Worrall
Connecting tech enterprises with private sector investors to spur sustainable development in Turkey

Having launched the Turkey SDG Investor Map (the Map), UNDP Turkey and Istanbul International Centre for Private Sector Development (IICPSD) organize investor events to bring together investors and enterprises discovered by the Map. The goal is to spearhead collaboration and foster potential investments to advance the SDGs. The enterprises identified by the Map have significant potential to contribute towards the SDGs in the country’s SDG-enabling sectors that align with governments’ policies.

In the early spring of 2022, UNDP Turkey and IICPSD hosted two such events for the Technology and Communications sector – an SDG priority sector the Map pinpointed for the country.

Across the two events, ten tech enterprises presented to seven private sector investors including Leonie Hill Capital, Invisible Heart Ventures, Ida Capital, Sarus Select Capital, Bethnal Green Ventures and Vestel Ventures. The investors also had the opportunity to present their investment strategies to the enterprises.

Among the participating companies was WeWALK, a producer of smart canes that use ultrasound technology and a smartphone application to enhance the mobility of visually impaired individuals. Singapore-based Leonie Hill Capital, an alternative private investor focused on impact tech investing, saw potential in WeWALK’s product and business case.

Following the event, WeWALK and Leonie Hill Capital signed an engagement letter to begin the due diligence process to pave the way for an SDG-anchored partnership. The goal is for Leonie Hill Capital, as lead investor, to help WeWALK create a unique brand that generates sustainable revenue streams in the Asian and US markets at the beginning.

WeWALK will also be guided to implement robust impact measurement and management protocols to capture its progress towards operating sustainably. UNDP encourages enterprises and its investors to adopt the SDG Impact Standards, developed by UNDP’s SDG Impact. The SDG Impact Standards provides a management framework that enterprises and private capital investors can adopt to integrate SDG-centric management practices into the core of its organizations. SDG Impact offers Masterclasses and Workshops to help enterprises and investors implement the SDG Impact Standards.