ANKARA
Turkish entrepreneurs seek government funds to launch new high-tech products, a Turkish official told Anadolu Agency (AA) on Thursday.
Nearly 183 projects to manufacture new technology have been submitted by Turkish entrepreneurs to the Turkish government for grants, Turkey's Ministry of Science, Industry and Technology said.
The grant requests came from Turkish entrepreneurs, small- to medium-sized enterprises and start-ups, who asked government to provide a total of 580 million Turkish lira ($260 million) for their projects.
Turkish entrepreneurs who seek to innovate with ideas for new high-tech products frequently give up due to lack of financial support.
The Turkish Ministry of Science, Industry and Technology has decided to support selected projects, in a program called “Investment Support Program for Technological Products.”
The program will provide financial support for up to 10 million Turkish lira ($4.5 million) to the entrepreneurs who qualify, but the top limit for support for larger companies is 2 million lira ($900,000).
The ministry said 51 applications for financial support were from the high-tech sector, and 56 projects were from machine and equipment manufacturing.
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