EIF and TTGV announce a pioneering collaboration

On 6 June 2006, European Investment Fund (EIF) signed a Collaboration Agreement with the Technology Development Foundation of Turkey (TTGV). The Agreement outlines a framework for a long-term co-operation, which intends to identify and advance common areas of interest, both in the operational and institutional field.

The Agreement, which seeks to optimise the exchange of information and services between TTGV and EIF, launches a comprehensive collaboration, including strengthening of the venture capital industry in Turkey and joint sponsoring of new initiatives to promote its development in support of technology based companies.

The collaboration represents a valuable opportunity to relay EIF's compelling competency in venture capital to Turkey. EIF's Chief Executive, Francis Carpenter, said: "TTGV is an ideal partner in this field, being a dynamic and forward-looking institution with experience as investor in two venture capital funds in Turkey".

Sahir Cortoglu, TTGV's Secretary General, added: This is a unique opportunity for our organisation and Turkey to partner with the leading fund of funds institution in Europe, to this he further commented the knowledge that EIF can contribute in innovative fields such as technology transfer accelerators is enormous.

Both EIF and TTGV are committed to serving as catalysts for the development of technology related SMEs in Turkey by means of this collaboration.

About TTGV

TTGV was founded in 1991 by a number of private and public enterprises. Based in Ankara, it is a non-governmental organisation whose mission is to support research, technology development and entrepreneurship, and innovation in Turkish industry in order to strengthen its ties with public and private research organisations and to improve its competitiveness on an international scale.

For further information, please visit TTGV's website

For further information on EIF's activities in Turkey, please contact EIF's Turkey desk at turkey@eif.org