Türkiye due to launch 'Tech Visa' program to draw in entrepreneurs

Türkiye is set to launch a pioneering initiative, the Türkiye Tech Visa, aimed at enticing technology entrepreneurs to contribute to the country’s burgeoning tech landscape, according to Industry and Technology Minister Fatih Kacır. The program seeks to draw individuals with vital technology expertise, innovative business models, and technology-driven initiatives.

Minister Kacır, speaking at an event in Orlando, U.S., emphasized the government’s commitment to reversing brain drain and fostering a self-reliant ecosystem by attracting global scientists and entrepreneurs. He underscored the National Technology Initiative as Türkiye’s path toward achieving technological independence, transitioning to value-added production, and globally exporting high-tech products competitively.

Highlighting the growth of Türkiye’s research and development (R&D) and innovation ecosystem since the early 2000s, Kacır outlined ambitions to boost exports of high-tech products and enhance the caliber of human capital. The minister noted a significant surge in human resources in the R&D sector, growing from 29,000 to 273,000, and a substantial increase in patent applications from 414 in 2002 to 22 times that number in the past year.

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Türkiye’s global share in trade has risen from 0.55% to 1.06%, with exports reaching $255.8 billion, of which $241 billion comprises industrial products, Kacır reported. Stressing Türkiye’s role as a crucial production center regionally and globally, he outlined the government’s objectives of consolidating independence in critical technologies, promoting value-added production, increasing high-tech exports, and enhancing the quality of human capital.

The minister reflected on past initiatives to stimulate high-tech sectors, revealing that nearly 750 applications were received, and 180 investment incentives were approved. Kacır expressed the government’s commitment to supporting both research and development activities and investments, aiming to address the annual current deficit exceeding $7.5 billion.

In addition, Kacır announced the forthcoming “Disruptive Technologies” initiative, designed to attract more initiatives and entrepreneurs. Underlining the government’s focus on the chip industry, he affirmed plans to provide comprehensive support and incentives for related investments. Furthermore, the minister highlighted the intention to accelerate data center investments, aiming to bring hyper-scale data centers to Türkiye and attract international investments in electric vehicles.

Source: https://www.dailysabah.com/business/tech/turkiye-due-to-launch-tech-visa-program-to-draw-in-entrepreneurs