Turkish ministry to finance innovative products

Turkish ministry to finance innovative products

ANKARA - Anadolu Agency
Turkish ministry to finance innovative products

Turkish Technology Minister Nihat Ergün speaks at a meeting. DHA photo

The Turkish Ministry of Technology will support technology entrepreneurs by providing grants up to 50,000 Turkish Liras for their products’ advertisement and marketing, the technology minister said.

Nihat Ergün said the advertisement and marketing of the technological products or prototypes, which are produced in a research-development activities and innovation projects, were insufficient, adding that the gaps in the idea-product-market chain hampered commercialization of these products.

The new grant program aims to assist young and innovative entrepreneurs who have creative ideas, to become economic actors, he said.

“Technological products and prototypes developed by domestic institutions, public institutions, foundations established by law or research-development activities and innovation projects financed by international funds will be supported for their advertisement and marketing in framework of Technologic Product Advertisement and Marketing Support Program introduced by the Ministry of Science, Industry and Technology,” Ergün said.

The minister noted that they would receive the applications every month and complete their assessments by the end of the following month. For the approved projects, the ministry will grant the required supporting amount, 50,000 liras, for abroad advertisement and marketing activities and 25,000 liras for advertisement and marketing activities in Turkey.