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 Friday.
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.
