Turkey establishes five funds to support technological initiatives with 200 million dollars' worth

The Turkish Minister of Industry and Technology Mustafa Varnak said that his country plans to establish five funds worth 200 million dollars to support technological initiatives.

The Minister explained in an interview with Anatolia that the establishment of funds comes within the framework of the program to support venture capital.

He pointed out that the investment capital investment in the world last year amounted to 518 billion dollars, and this value remained in Turkey at the limits of 59 million dollars.

Varank has confirmed on the need to establish funds in order to contribute to research and development products to strengthen the Turkish economy.

He also explained that Turkey's goal of these funds is to create initiatives globally, and these funds will be supported by the Turkish Ministry of Treasury and Finance, and the Turkish Research and Technology Foundation.