Meaningful Support From KOSGEB for the International Incubation Center to be Established in New York Under BU Leadership (June 13, 2016)

KOSGEB (Small & Medium Enterprises Development Organization) has provided $3,750,000 to the International Incubation Center to be established in New York under the leadership of BU’s Finance Technopark, in partnership with Istanbul Technical University, Istanbul Trade University, and Fırat University.

KOSGEB stated on June 8 that the funds are intended to support the establishment of an International Incubation Center with an accelerator program in New York, so as to contribute to the globalization of Turkey’s entrepreneurial ecosystem and capacity to produce technology-based products and services; and, by opening a startup gateway in New York, to accelerate the entry to world markets of our entrepreneurs with potential to do so.   The objective is to encourage and inspire new entrepreneurs with success stories from the Center and from Turkish entrepreneurs.

In her speech on the support provided by KOSGEB, Boğaziçi University’s President, Prof. Gülay Barbarosoğlu, said, “For Turkey to develop innovative investments, new ideas and initiatives need to internationalized.  The funds and new technology to be developed in our accelerators established abroad in cooperation with our partners will help products with rather high added value to be easily exportable, and at the same time accelerate the transformation of innovative ideas into products, bringing our country closer to its 2023 targets.  Many innovative studies are being conducted at Turkish universities; what is of utmost importance is to transform these ideas into production in the right platforms, bring them up to international quality standards, and access the global distribution network.  KOSGEB’s support is the biggest support given to this transformation.  We thank them sincerely.”