Turkey: Venture capital investments up 74% in 2020

Industry and technology minister says innovative venture investments reached $177M last year despite pandemic

By Aysu Bicer

ANKARA (AA) - Innovative venture capital investments in Turkey increased 74% year-on-year in 2020 to hit $177 million despite the COVID-19 pandemic, the industry and technology minister announced on Friday.

Mustafa Varank said on Twitter that venture capital and technology enterprises have priority in agenda of the 2023 Industry and Technology Strategies.

"The mobilization we initiated in this field has yielded fruits," he said.

In 2019, the two funds -- The Technology and Innovation Fund and Regional Development Fund -- were established in promoting venture capital in Turkey.

Kaynak:

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