Conexio consulting

NEW TECHNOLOGY INVESTMENTS IN TURKEY

New world is trending to be a technology world. Many countries are building their infrastructures to be a main player. Under these changes, new projects and funds are developed by governments. Turkey, as a new developing and growing country, making huge steps to catch the world. Let’s focus on the advantages.

First advantage is the new decision taken by Ministry of Science, Industry and Technology: the non-refundable support for expenses to produce technological products is reduced. According to that, for the micro companies the investment project amount’s 60%, for the small companies 50%, medium size companies %40 and for the big size companies 10% of support. According to the regulation, in case of the domestic products documentation of the machinery equipment to be bought for investment projects, 20% will be added to these rates.

The applications for invests on technological products in result of R&D, made by public research institutes, centers and substructures, can receive support if all the rights of this product are transferred to the applicant with a notary approval.

The other advantage is, the Project that government declared which is called ‘Center of Attraction’. After the declaration of this Project many foreign investors rush to TurkeY. Chinese companies obtained 3.000 parcels in organized industrial sites. 53 Chinese companies applied to Minister of Development. German investors are preparing for construction equipment manufacturing center in Van. Iranian CinnaGen, entered Turkey to produce biotecnlolgical medicine.

Another advantage is, European Investment Fund, established an “Accelerating The commercialization of Technology” (ACT) fund to support technologies developed in Turkey by universities, research institutes and tecnology enterprises. With ACT it is aimed to increase the high tech exports of Turkey and make a contribution to Turkish entrepreneurship. Main target of the fund consist in a mechanism to carry the new entreprenurs which produce technology to big scale global funds and investment companies. According to the aim, these companies will be determined earlier, will be evaluated and the activities will be organized to supply the needed investment fund to reach a global level.

In this direction, since June 2015, 70 technological attempts and patents examined by ACT and for the first step, 4 projects are chosen to be invested in. At least 1/3 of the advanced technology projects decided to be realized in the east of Ankara like Kayseri, Gaziantep, Trabzon, Elazığ. The entrepreneurs can use the funds provided by ACT in Professional team building, product development, access to global markets, administration and financial management expenses.

These advantages enable many investors to invest this trending, profitable field. You can invest one and get two easily and in a short term while we are talking about technology. So, having these advantages in pocket, taking the good location of Turkey, it is not a surprise that we can see more direct investments to the country.

Conexio is a consulting firm in Turkey based in Istanbul that can provide you services and support you in your activities in the region.

 

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