ISTANBUL, Sept. 26 (Xinhua) -- A startup accelerator program launched by the Turkish Istanbul municipality to promote innovative business models has been awarded "Best Accelerator and Incubator Program" by the Global Startup Awards (GSA), local authorities announced on Thursday.

The GSA is one of the world's biggest startup competitions currently active in over 120 countries. It wrapped up its Global Grand Finale 2024 summit in Istanbul, Türkiye earlier this week, gathering venture capitalists, ecosystem partners, and more.

According to the municipality, the program TECH Istanbul aims to support innovative business models and connect entrepreneurs with modern ideas, fostering a vibrant entrepreneurial ecosystem in Istanbul, Türkiye's cultural and financial hub.

TECH Istanbul operates across 8,000 square meters in four locations and has supported over 400 startups, which have collectively raised more than 22 million U.S. dollars since the project began in October 2023.

During the award ceremony, Istanbul Mayor Ekrem Imamoglu stated that the ultimate goal is to position Istanbul among the top 10 cities in the global entrepreneurship ecosystem.

According to the mayor, Istanbul, with approximately 5 million residents under the age of 25, is one of the cities with the youngest population in the world.

"This large young population has motivated us to develop various projects in technology and entrepreneurship," said Imamoglu. Enditem

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