1514 - Venture Capital Funding Program (Tech-InvesTR)

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Current Situation: Tech-InvesTR Funds-The Ministry of Treasury and Finance’s Protocol Processes

Tech-InvesTR-2018 TÜBİTAK’s Conditional Support Announcement (12.11.2018)

Tech-InvesTR Venture Capital Support Program was established in order to enable venture capital funds to invest in R&D intensive early-stage companies to meet the financial needs of these companies. In order to ensure sustainable functioning of the program, a Cooperation Agreement was signed between TÜBİTAK and the Ministry of Treasury and Finance. With Tech-InvesTR Program, it is aimed at;

  • Supporting early stage technology based venture firms through funding them the venture capital they need,
  • Creating a high value-added production environment through the commercialization of R&D and innovation products of early stage technology-based enterprises
  • Contributing to the creation of venture capital ecosystem through encouraging the establishment of new funds to provide venture capital for early stage technology based firms,
  • Enriching financial supports suitable for each stage of the life cycle of companies in order to ensure the stability of the ecosystem.
  • Increasing the number of investors in the venture capital ecosystem,
  • Creating a sustainable venture capital ecosystem in order to support early stage technology-based initiatives,
  • Providing experience and resources in venture capital in Technology Transfer Offices (TTOs), Technology Development Zones (TDZs) and qualified Research Infrastructures (RIs).

Technology Development Zones (TDZs), Technology Transfer Offices (TTOs), Research Infrastructures (RIs), the Ministry of Treasury and Finance and other third party investors will participate as limited partners of venture capital funds which is established with Tech-InvesTR Program and these funds will be managed by the independent fund managers. 50% of the contributions of TTO/TDZ/RIs for VC funds for investments made in early stage technology based Turkey resident companies will be supported by TÜBİTAK in the form of grants. In addition, organizations will be provided with general expense support up to 10% of their contribution. In addition, if requested, a pre-payment will be made to TTOs, TDZs and RIs up to 20% of the total amount committed by them in order to meet their cash requirement.

To ensure the sustainability of the venture capital ecosystem, TÜBİTAK’s grants depend on capital and experience accumulation conditions in TTOs, TDZs and RIs. Through capital accumulation condition, after the fund’s exit from the investments, TÜBİTAK’s share will be used again in the funding of early stage technology-based initiatives by TTO, TDZ, RIs. Within the context of the experience accumulation condition: it is aimed to transfer venture capital management teams’ experience to TTOs, TDZs and RIs. Thus, commercialization perspective is expected to be improve in these institutions with experience and capital.

Tech-InvesTR Program Presentation in English click here

The Results of the Tech-InvesTR-2018