Technology Transfer Accelerator Fund Project
The Technology Transfer Accelerator Turkey Fund Project aims to increase technology transfer and commercialization of R&D results in Turkey.
The fund created for this purpose is the first such fund created to both encourage entrepreneurs to start up a business in technology and to finance existing businesses in technology production and distribution. The project aims to commercialize technology, in other words make developed technology available for the use of other sectors as rapidly as possible.
Led by the European Union, this will be the first time that technology producers and entrepreneurs are supported by such a large fund in Turkey, enabling them the opportunity to start producing in European standards right away, without having to spend time seeking investors.
The project aims to foster techno-entrepreneurship by directly investing in 50 innovative projects through the fund. The Technology Transfer Acceleration Turkey Fund Project will adopt the principle of transparent and fair evaluation at every step of the project. The fund is managed by two independent fund managers and aims to reach across Turkey, concentrating on regions with a lower-than-average income level. By 31 December 2016 it has been invested approximately 11 million Euro to 27 projects within the scope of project funds.
The universities, research and development companies, technology transfer offices and NGOs that are focused on accelerating technology production in Turkey can face difficulties in obtaining the funding they require. Innovative projects that are unable to find an investor cannot be marketed and sectors that are underdeveloped in technology lose the chance to compete in both domestic and global markets.