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).
A Cooperation Agreement was signed with the Ministry of Treasury and Finance in order to ensure the sustainable operation of the program. The Ministry of Treasury and Finance as well as Technology Transfer Offices (TTO), Technology Development Zones (TDZ), Research Infrastructures (RI) and other third party private investors will be partners to the venture capital funds to be established within the Tech-InvesTR Venture Capital Funding Program. 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.
Within the scope of Tech-InvesTR call; the evaluation processes carried out by TÜBİTAK and the Ministry of Treasury and Finance have been completed, and the Ministry of Treasury and Finance has announced its decision regarding the 5 funds that it deems appropriate to initiate the protocol processes to make commitments. Within this scope, fund participation protocols have been signed between Ministry of Treasury and Finance and Collective Spark, Diffusion Capital Partners (DCP), 500 Startups Istanbul Fund II Venture Capital Fund and Boğaziçi Ventures Venture Capital Investment Fund and these 4 funds have been established. The Ministry of Treasury and Finance also has informed TÜBİTAK that it will sign the protocol with Arz Real Estate and Venture Capital Portfolio Management Company. Moreover, project agreements have been signed between TDZs and TTOs participating in the established Tech-InvesTR funds and TÜBİTAK. In this regard, project agreements have been signed between TÜBİTAK and "METU Technopolis Management Inc.", which is an investor in the Collective Spark fund, " METU Technopolis Management Inc." and " Ege Technopark TDA Manager Inc." which are investors in the Diffusion Capital Partners (DCP) fund, "Tedutech Technology Transfer Consultancy Education and Trade Inc. ", which is an investor in 500 Startups Istanbul Fund II Venture Capital Fund, Ankara University Technopolis Executive Inc. and Çukurova TDA Manager Inc. which are investors in Gedik Portfolio Management Inc. Boğaziçi Ventures Venture Capital Investment Fund.
Tech-InvesTR Program Presentation in English click here