The signing ceremony for the IT Valley Technology Development Zone Venture Capital Investment Fund (VCIF) was held on September 5 with Minister of Industry and Technology Mustafa Varank, in attendance.
Two of Turkey’s participation banks, Vakıf Katılım and Albaraka Türk, are slated to jointly invest in the new VCIF. At the signing ceremony, Minister Varank was cited as saying, “A venture capital fund will be established for the first time in Turkey's history with the partnership of a technopark and participation banks.”
He underlined that his ministry is ready to support innovative entrepreneurs who have brilliant ideas to realize their market potential with a high-added value and to raise competitiveness in high-tech industry. “We have been developing TDZs as ‘mega technology incubators’, where technology moves from concept to production, and is globalized through commercialization,” Minister Varank added.