Automotive Exports September 2023

Türkiye becomes partner of Europe’s largest tech fund
The Ministry of Industry and Technology
joined the NATO Innovation Fund, Europe’s
largest technology fund, on behalf of
Türkiye, according to a statement by the
ministry.
The statement said that the ministry
participated in the “NATO Innovation
Fund”, the world’s first multinational
venture capital fund, established at the
Madrid Summit of NATO.
Minister Mehmet Fatih Kacır, whose views
were included in the official statement,
stated that the NATO Innovation Fund
is a great opportunity for Türkiye’s deep
technology start-ups and that the fund will
not only provide long-term investment
support but also access to the markets of
NATO and allied countries.
The 1 billion euro fund, which will finance
technologies that will protect the security
of the Alliance’s 1 billion citizens, is also
Europe’s largest deep technology fund.
The NATO Innovation Fund will play an
active role in strengthening the innovation
ecosystems of the Allies, meeting the
financing needs in deep technologies,
and making the developed technologies
available for use.
The fund will invest in start-ups that
develop technologies such as artificial
intelligence, big data, autonomous
systems, new materials and advanced
manufacturing and quantum, which are
critical to the security of the alliance, and
venture capital funds that support these
technologies.
Türkiye, which is among the 23 allied
countries financing the fund, will be the 6th
largest partner of the fund with financing
of approximately 45 million euros for 15
years.
Together with the North Atlantic Defense
Innovation Accelerator (DIANA), the fund
will have a decisive role in preserving
NATO’s technological superiority and
developing breakthrough technologies
that can be used for civilian and military
purposes.
The NATO Innovation Fund, which was
established as a result of the financial
commitments and hard work of 23 NATO
allies, including Türkiye, was announced to
the public at the Vilnius Summit, attended
by President Recep Tayyip Erdoğan.
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