Turkey Fast Growth 25: Program to Determine Fastest Growing Turkish Companies
The AllWorld Network, an organization that ranks entrepreneurs in emerging economies, is to determine the fastest growing companies in Turkey in cooperation with the Union of Turkish Chambers & Commodity Exchanges, or TOBB.
“Turkey does not have oil and gas but has the greatest entrepreneurship spirit in the heart of the country” said Rifat Hisarciklioğlu, the chairman of the TOBB, during an Istanbul meeting on Tuesday to announce the program titled the “Turkey Fast Growth 25.”
“We will evaluate the applications by Turkish firms to rank the top 25 rapidly growing firms in revenue between 2008 and 2010,” said Hisarciklioğlu.
The listed firms will attract the attention of the world’s largest financial giants, he said.
The program would also offer the listed companies a network including counterparts in the other emerging economies. “The executives of qualifying firms will have the chance to attend a leadership course at Harvard University,” Hisarciklioğlu said. “More importantly, the firms may draw attention from various funding institutions.”
“The demand from Western financial institutions in finding the best-performing firms in emerging countries is increasing,” said Anne S. Habiby, founder of the AllWorld Network.
“We all know Turkey’s top Turkish firms listed on the Istanbul Stock Exchange [ISE],” said Habiby, adding that their aim was to mark “the new shining starts of Turkey on the global map.”
The future of the global economy will rise on new firms in emerging markets, Habiby said. “We aim to increase the visibility of the top Turkish performers, according to total revenue, in the international arena.”
Local candidates for the event need to have at least a total of $100,000 in revenue from 2008 and $500,000 by the end of last year, Hisaciklioğlu said. In addition to the revenue limit, these companies should also employ at least 10 people. The application deadline is the end of July and can be submitted through the official website at www.allworldlive.com.
Habiby said there were rapidly growing firms appearing in the last few years, such as Pegasus Airlines, which has captured 19 percent of Turkey’s commercial airline market and has followed a growth path of 43 percent since 2005.
April 26, 2011
SOURCE: Hürriyet Daily News
