Government to urge bright companies to go to Silicon Valley

Published 30.10.2010 12:10

Turkey's Industry and Trade Minister Nihat Ergün has said the government will establish a support mechanism to encourage Turkish companies to go to Silicon Valley in the US to expand their businesses and open up to the world.

Ergün was paying a visit to northern California's Silicon Valley on Thursday as part of studies to establish an "Information Valley" in Turkey, a center to provide a suitable environment for research and development activities. The minister received a briefing on the working system of companies running in the US's most famous technology base.

There are currently numerous Turkish entrepreneurs and investors in Silicon Valley, the minister noted. Ergün attended a meeting with the Turkish entrepreneurs and investors later in the day and informed them of the government's intent to collect information businesses under a single header and create new support models for the sector.

Silicon Valley is a significant and successful example for the Information Valley, the preparations of which are continuing, Ergün argued. He said the underlying reason for his visit was to see the possibility of creating connections between Turkey's technology center and Silicon Valley, the minister noted and added: "To this aim, we visited the largest incubation center in the valley. Umpteen companies from numerous countries are growing their companies here and thus finding opportunity to open up to the world. As the ministry, we too may send some of our companies and our techno-entrepreneur youth to this incubation center after providing them with support."

Another aim is to convince the large US software companies based in Silicon Valley to invest in Turkey "because they have the chance to address a very large market in Turkey. So, we also want to offer suitable fields of investment for these companies," according to Ergün.

Ergün pointed to the wide gap between Turkey and the developed world in terms of the information business, underscoring their intention of speeding up studies to close this gap as soon as possible.

He said he met plenty of Turkish investors who started up small businesses in Silicon Valley with a big idea and little means but later sold these companies to global giants like Google for hundreds of millions of dollars. "They have even set up their third and fourth companies. These incredibly intelligent Turks have made us very proud; they will coach the next generation of brilliant Turkish entrepreneurs."

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