Turkey's technology minister declares interest from international venture capital funds
Date
5/20/2024 4:15:51 AM
(MENAFN) On Friday, Technology Minister Mehmet Fatih Kacir expressed that international venture capital funds are showing keen interest in investing in Turkey. Kacir, who was in London for several engagements, spoke to Turkish media following meetings with venture capital fund managers.
He underscored Turkey's growing potential and strategic focus on critical sectors like health technologies, green transformation technologies, digital transformation technologies, and artificial intelligence.
Kacir emphasized the impressive progress made by Turkish technology startups, especially in advanced areas such as next-generation mobility technologies, which play a pivotal role in facilitating the green transformation.
"I shared Türkiye's capacity in these areas extensively," he stated. "Investors expressed their desire to increase their presence in our country.
He highlighted that Turkey's approach serves as a global exemplar in effectively leveraging public resources to accelerate the growth of technology startups.
"Our work demonstrates how public resources are being used and evaluated to support technology startups at a level rarely seen worldwide," he pointed out.
"These initiatives have already borne fruit, with technology startups in Türkiye receiving significantly larger investments compared to previous periods. From 2010 to 2020, the annual investment in Turkish tech companies and startups was approximately USD100 million. However, between 2020 and 2023, this figure skyrocketed to USD4 billion over three years," he further clarified.
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