The Ministry of Industry and Technology joined the NATO Innovation Fund, Europe’s largest know-how fund, on behalf of Türkiye, in line with an announcement by the ministry Friday.
The assertion mentioned that the ministry participated within the “NATO Innovation Fund”, the world’s first multinational enterprise capital fund, established on the Madrid Summit of NATO.
Minister Mehmet Fatih Kacır, whose views have been included within the official assertion, said that the NATO Innovation Fund is a good alternative for Türkiye’s deep know-how start-ups and that the fund is not going to solely present long-term funding assist but additionally entry to the markets of NATO and allied international locations.
The 1 billion euro fund, which can finance applied sciences that may shield the safety of the Alliance’s 1 billion residents, can be Europe’s largest deep know-how fund.
The NATO Innovation Fund will play an energetic function in strengthening the innovation ecosystems of the Allies, assembly the financing wants in deep applied sciences, and making the developed applied sciences out there to be used.
The fund will put money into start-ups that develop applied sciences reminiscent of synthetic intelligence, huge information, autonomous techniques, new supplies and superior manufacturing and quantum, that are vital to the safety of the alliance, and enterprise capital funds that assist these applied sciences.
Türkiye, which is among the many 23 allied international locations financing the fund, would be the sixth largest associate of the fund with financing of roughly 45 million euros for 15 years.
Together with the North Atlantic Defense Innovation Accelerator (DIANA), the fund can have a decisive function in preserving NATO’s technological superiority and growing breakthrough applied sciences that can be utilized for civilian and army functions.
The NATO Innovation Fund, which was established on account of the monetary commitments and arduous work of 23 NATO allies, together with Türkiye, was introduced to the general public on the Vilnius Summit, attended by President Recep Tayyip Erdoğan.
Source: www.dailysabah.com
