Participating in the TechXtile Start-Up Challenge and Bursa Textile Show opening ceremony in Bursa, Industry and Technology Minister Varank said, “We are launching a new credit program for our entrepreneurs who benefit or plan to benefit from KOSGEB's Entrepreneurship support program. With this mechanism to be applied for the first time; KOSGEB will cover the 10-point financing cost of the loan up to 50 thousand liras. If the entrepreneur is young, female, disabled, veteran or relative of the martyr, the limit of 50 thousand lira will increase to 70 thousand lira. ”

In his speech at the ceremony, Minister Varank briefly said:

We will often hear their success:

This organization, organized with the contribution of multiple stakeholders, offers many opportunities in terms of meeting innovative ideas with investors, efficient interaction between companies and opening doors to international partnerships. Textile industry is our pride in employment and export. We offer a wide range of supports by the Ministry to take the industry further. We attach great importance to the increase of added value in the sector. Techxtile Start-up Challenge; It aims to contribute to R&D and innovation efforts, increase our global competition and strengthen the ecosystem. Our Development Agency and TÜBİTAK have been contributing in the process from the very beginning. I'm sure that. With the technological depth and export target, we will hear the success of the projects here in the coming period.

Turkey entrepreneurship ecosystem platform:

Another important agenda item of today is the Textile Innovation League Award Ceremony. The companies that manage to use innovation effectively in every stage of their production will receive awards here. The main features that distinguish these companies from their competitors are; the number of engineers, software infrastructures, the business models they use and their tendency to realize and commercialize new ideas. Of course, they also benefit from the support provided by our ministry effectively. We want more of our companies to benefit from the economic benefits of innovation. Of course, this is a matter of awareness. In this 2023 percent Industry and Technology Strategy, we have given special importance to both entrepreneurship and strengthening the R&D ecosystem. Platform Ecosystem Initiative to strengthen entrepreneurship and Turkey are building the website.

Easy tax period:

In addition to introducing investors on this platform, we will provide information on resources available to entrepreneurs. We want to develop mechanisms such as tax-free or easy-tax period for early entrepreneurs. We will work with our relevant ministries for applications such as a welcome package and entrepreneur visa for entrepreneurs from abroad. Of course, funding sources are of special importance for the overall ecosystem. For this purpose, we will increase the number and efficiency of angel investors and expand the use of crowdfunding. Again, we will take measures to increase the volume and use of venture capital funds.

KGF will give the guarantee:

Speaking of financing, let me share the good news with you. We are launching a new loan program up to 50 thousand liras for our entrepreneurs who benefit from or plan to benefit from KOSGEB's Entrepreneurship support program. With this mechanism to be applied for the first time; KOSGEB will cover the 10-point financing cost of the loan up to 50 thousand liras. In case the entrepreneur is young, woman, disabled, veteran or relative of the martyr, the limit of 50 thousand liras will increase to 70 thousand liras. Credit Guarantee Fund will provide the guarantee of the loan. Our entrepreneurs will only pay principal and very small interest. With this program, we aimed to make an additional contribution to the working capital, which is important for entrepreneurs. Good luck, already.

Invitation to textile engineers:

We took important steps in 17 years to improve the R&D ecosystem. More than 200 universities, more than 500 thousand R&D and Design Centers, 84 Technology Development Zones and 112 thousand researchers are the main actors of this ecosystem. In addition to quantity, we want to raise the quality to higher levels. For this, too; We invest in talents that will be the guarantee of our future, from children to young people. In the 100 Deneyap technology workshops we will establish, approximately 50 thousand specially talented students will receive technology training in 5 years. For the first time this year, we started implementing the International Leading Researchers Program and encountered a demand far beyond our expectation. In the Industry PhD program we started this period, we made a new call last week. We offer 4 thousand 500 lira scholarships to doctoral students who are admitted to the program. I invite our textile engineers to apply to this program. We wish our textile industry to play a leading role in all these goals.

Trust in the economy:

Turkey continues on its way with confident steps of the economy. There are positive signals in our economic indicators. Interest rates and inflation are falling. Orders are increasing in the Manufacturing Industry. International institutions such as the World Bank, International Monetary Fund and OECD have revised their growth forecasts for our country upwards. As such, the real sector must be willing to produce and create more jobs. During Operation Barış Pınarı, our people stood behind the Turkish Lira by listening to our calls. Fortunately, we did not experience serious fluctuations in the currency. In fact, even this is a good indicator of confidence in the economy. We will continue to take steps to further strengthen our economy.

What is the new funding support?

KOSGEB's new financing support was designed to enable SMEs to access finance more easily and to create more added value with the state facilities used. According to the new support, businesses will use loans from 10 banks that KOSGEB has contracts with. A significant portion of the annual interest or profit share amounts of this loan will be covered by KOSGEB. Active businesses that have started their business with the support of KOSGEB will be able to receive up to 50 thousand TL of business loans or machinery equipment loans. KOSGEB will cover 10 points of this loan. Entrepreneurs will only pay principal and 3.75 points interest in the 12-month term. Limits will be valid for 3 years, and the enterprise will be able to use support at any time within three years without exceeding the upper limit.