Technology Development Foundation of Turkey - 2006 1 Delivering Public Support to Private Companies Case of TTGV in Turkey A. Mete ÇAKMAKCI Technology

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Technology Development Foundation of Turkey - 2006

Delivering Public Support to Private CompaniesDelivering Public Support to Private CompaniesCase of TTGV in TurkeyCase of TTGV in Turkey

A. Mete ÇAKMAKCIA. Mete ÇAKMAKCITechnology Development Foundation of TurkeyTechnology Development Foundation of Turkey

Knowledge Economy Forum – PragueKnowledge Economy Forum – Prague,, Czech Republic Czech RepublicMarch 28-30, 2006March 28-30, 2006

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76 Universities are operational 76 Universities are operational

1,900,000 enrolled students (40% female)1,900,000 enrolled students (40% female)

25,000 enrolled in PhD programs25,000 enrolled in PhD programs

110,000 enrolled in Masters programs110,000 enrolled in Masters programs

76,000 academic personnel (37% female)76,000 academic personnel (37% female)

Engineering enrollment 113,681 : 16,481 graduatesEngineering enrollment 113,681 : 16,481 graduates

Sciences enrollment (incl. Computer Science) 102,897 : Sciences enrollment (incl. Computer Science) 102,897 :

14,700 14,700 graduates graduates (2003 data)(2003 data)

20,400 educating abroad (15,1 K undergrad, 3,2 K 20,400 educating abroad (15,1 K undergrad, 3,2 K

masters, 2,1 K PhD. 1,000 are supported by the state, masters, 2,1 K PhD. 1,000 are supported by the state,

including 714 in PhD programs.) including 714 in PhD programs.) (2002 data)(2002 data)

RTDI in TurkeyRTDI in Turkey – Supply / Demand – Supply / Demand

100 100 public public R&D institutions with approx. 2,000 R&D institutions with approx. 2,000

researchers. researchers. ((11 are under TÜBİTAK)11 are under TÜBİTAK)

26% of enterprises are involved in technology innovation 26% of enterprises are involved in technology innovation

activities of some sort. (activities of some sort. (State Institute of Statistics - 2002State Institute of Statistics - 2002))

RTDI : Research Technology Development and InnovationRTDI : Research Technology Development and Innovation

NationalPrivate National

Public NationalOther International

Private

Public

Higher Education

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Per

cen

tag

e in

Eac

h C

ateg

ory

Finance Source Category

Sec

tor

PersonnelOther Running

Fixed AssetsMachine &Equipment

Private

Public

High Education

0%

10%

20%

30%

40%

50%

60%

70%

80%

Per

cen

tag

e in

Eac

h C

ateg

ory

Cost Category

Sec

tor

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Public Funded RTDI Support ProgramsPublic Funded RTDI Support Programs

Technoparks :Technoparks : Technology Development Zones Law passed in 2001 Technology Development Zones Law passed in 2001

TTax ax exemptionsexemptions for R&D activities, for R&D activities,

VAT exemption for services and productsVAT exemption for services and products created in the zones created in the zones, ,

LLaxaxeded regulations on academic staff participating commercial private activity. regulations on academic staff participating commercial private activity.

22 approved, 10 operational with 349 firms. Around 5,000 R&D 22 approved, 10 operational with 349 firms. Around 5,000 R&D FTE FTE staff employed.staff employed.

TEKMER IncubatTEKMER Incubatoror Program : Program : Government owned and operated incubator program Government owned and operated incubator program

13 TEKMERs, 14 DTIs operational with 149 current tenants. 13 TEKMERs, 14 DTIs operational with 149 current tenants. TEKMERsTEKMERs graduated 197 graduated 197

ffirms so far.irms so far.

USAM – University Industry Joint Research CentersUSAM – University Industry Joint Research Centers : : TTÜBİTAK funded private operated ÜBİTAK funded private operated

centers for shared contract research using the university research capacity.centers for shared contract research using the university research capacity.

Project Supports to Private Companies :Project Supports to Private Companies :

TÜBİTAK –TÜBİTAK – Grants Grants to industrial research projectsto industrial research projects

TTGV - Matching fund soft-loansTTGV - Matching fund soft-loans to technology development projects to technology development projects

FinanceFinance for R&D investments : for R&D investments : CapitalCapital investments cinvestments credit at redit at market ratemarket ratess..

Other indirect supports (such as R&D tax discounts etc.) :Other indirect supports (such as R&D tax discounts etc.) : Tax deduction Tax deduction forfor up to 40% of up to 40% of

annual annual R&D costs.R&D costs.

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In 2004 Supreme Council In 2004 Supreme Council forfor Science and Technology Science and Technology (BTYK) (BTYK) adopted adopted national R&D national R&D targettargets s for for

20102010

Total R&D expenses to reach 2% of the GDP (current level is 0,67%)Total R&D expenses to reach 2% of the GDP (current level is 0,67%)

Half to be provided by the private sector (current level is 30%)Half to be provided by the private sector (current level is 30%)

FTE R&D staff to reach 40,000 (Currently estimated to be ~30,000)FTE R&D staff to reach 40,000 (Currently estimated to be ~30,000)

Extra budget allocation had started in 2005, to be increased annually.Extra budget allocation had started in 2005, to be increased annually.

2010 Targets2010 Targets

An An assessmentassessment of the targets of the targets ::

Turkey’s GDP in 2010 will be 400 Billion USDTurkey’s GDP in 2010 will be 400 Billion USD (in 2005 USD - a very conservative (in 2005 USD - a very conservative

assumption) : assumption) : the private sector will need to the private sector will need to spend an additional spend an additional 3,5 Billion USD 3,5 Billion USD from thefrom the

current levelscurrent levels

o Strong sStrong stimulation is needed to draw in the private moneytimulation is needed to draw in the private money

o Goverment funding should be used to create a “multiplier” effectGoverment funding should be used to create a “multiplier” effect

Assuming 150 K USD per researcher in 2010 Assuming 150 K USD per researcher in 2010 (1)(1) , the private sector will need approximately , the private sector will need approximately

25,000 FTE researchers, i.e. 3 times the current levels.25,000 FTE researchers, i.e. 3 times the current levels. – strategic development of human – strategic development of human

resources is urgently requiredresources is urgently required

(1)(1) ROC’s data for 2003 was 87,000USD per researcher. ROC’s data for 2003 was 87,000USD per researcher.

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Current BottlenecksCurrent Bottlenecks

19981998 19991999 20002000 20012001 20022002 20032003 20042004

# of Patents (TPE) # of Patents (TPE) (1)(1) 946946 13131313 13071307 24042404 21872187 19101910 26482648

Share of High-tech in Exports Share of High-tech in Exports (2)(2) 4,3%4,3% 4,9%4,9% 3,9%3,9% 1,9%1,9% 2,1%2,1% 1,8%1,8%

Private Sector FTE R&D StaffPrivate Sector FTE R&D Staff

(x 1000) (x 1000) (3) (4)(3) (4)5,25,2 5,65,6 6,06,0 5,65,6 5,95,9

Share of Private Sector R&D Share of Private Sector R&D Expenditures in Total Expenditures in Total (3)(3) 31,6%31,6% 38,0%38,0% 33,5%33,5% 33,7%33,7% 28,7%28,7%

(1)(1) Turkish Patent InstituteTurkish Patent Institute(2)(2) Foreign Economic Relations Council and ECForeign Economic Relations Council and EC(3)(3) State Institute of StatisticsState Institute of Statistics(4)(4) Total FTE R&D Staff in 2002 was 28,964Total FTE R&D Staff in 2002 was 28,964i.e. private sector R&D staff was i.e. private sector R&D staff was 20%20% of the total. of the total.

EU - 25EU - 25 TurkeyTurkey

EPO Patents/ 1M pop.EPO Patents/ 1M pop. 133,6133,6 11

USPTO Patents / 1M pop.USPTO Patents / 1M pop. 59,959,9 0,20,2

Very low global grade “production” of technology even though number of national patents are increasing

Very low global grade “production” of technology even though number of national patents are increasing

Turkish exports between 1998 – 2004 increased 134% !Turkish exports between 1998 – 2004 increased 134% !

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Established in 1991 as an NGOEstablished in 1991 as an NGO (with a WB project) (with a WB project). Established as a transparent, accountable, . Established as a transparent, accountable,

flexible and dynamic organization flexible and dynamic organization to implementto implement/manage/manage public funded programs public funded programs..

Founders : 26 private companies, 6 government entities, 10 umbrella organizations, 14 individuals.Founders : 26 private companies, 6 government entities, 10 umbrella organizations, 14 individuals.

Subject to laws and regulations concerning foundations and the private lawSubject to laws and regulations concerning foundations and the private law (like private companies) (like private companies)

A foundation established under law : can use and manage government funding programs.A foundation established under law : can use and manage government funding programs.

TTGV is a member of TAFTIE TTGV is a member of TAFTIE (The Association for Technology Implementation in Europe) (The Association for Technology Implementation in Europe) and will and will

chair TAFTIE in 2007chair TAFTIE in 2007

What is TTGV ?What is TTGV ?

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How does TTGV operate ?How does TTGV operate ?

A board of directors where directors from the private sector are elected by the Founders’ A board of directors where directors from the private sector are elected by the Founders’

Assembly Assembly

15 directors 15 directors : : 10 from 10 from the the private sector, 5 from government agencies (TÜBİTAK, KOSGEB, private sector, 5 from government agencies (TÜBİTAK, KOSGEB,

DPT, Treasury and Foreign Trade reps., i.e. other NIS stakeholders)DPT, Treasury and Foreign Trade reps., i.e. other NIS stakeholders)

FullFull-time-time staff of 47, supported by a pool of 1,500 experts from the industry, government and staff of 47, supported by a pool of 1,500 experts from the industry, government and

universities. Employment is subject to private sector rules.universities. Employment is subject to private sector rules.

Follows International Accounting Rules and subject to 4 different annual audits including one Follows International Accounting Rules and subject to 4 different annual audits including one

by aby ann independent international auditing agency. independent international auditing agency.

Funding : Its own trust, Treasury/WB (ending by 4/2006), government programs and GFunding : Its own trust, Treasury/WB (ending by 4/2006), government programs and Global lobal

EEnvironment nvironment FFund (GEF)und (GEF)..

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Technology Development FundingTechnology Development Funding Matching soft loans Matching soft loans (no interest) (no interest) to technology development projectsto technology development projects of private companies of private companies. . Max. Max. TTGV TTGV contribution is 1M USD.contribution is 1M USD. 1350 proj1350 project proposals received and ect proposals received and evaluatedevaluated so farso far 154 M USD in total committed to 415 projects154 M USD in total committed to 415 projects Helped to create a R&D volumeHelped to create a R&D volume of of 308 M 308 M USD.USD.

Funding to Funding to Venture Capital FundVenture Capital Fundss

Lead investor in two private VC funds in Turkey (7 M USD in 90 M USD total – 90Lead investor in two private VC funds in Turkey (7 M USD in 90 M USD total – 90%% of all funds) of all funds) Represented in the board management of the funds.Represented in the board management of the funds.

Start-up FundingStart-up Funding First stage up to 400 K USD First stage up to 400 K USD in in equity funding for technology start-upsequity funding for technology start-ups : closed our first : closed our first investmentinvestment

Technology Support Centers Technology Support Centers Four centers operational to provide sector specific technollogy servicesFour centers operational to provide sector specific technollogy services

Environment ProjectsEnvironment Projects Supported phasing Supported phasing out out of 90of 90%% of Ozone Depleting Substances in Turkish industry with of Ozone Depleting Substances in Turkish industry with 26,5 M 26,5 M USDUSD

Funding to Technoparks and IncubatorsFunding to Technoparks and Incubators (closed) (closed)

Technology Support ServicesTechnology Support Services (closed)(closed)

Overview ofOverview of Support Activities Support Activities

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TTGV TTGV Technology Development FundingTechnology Development Funding

ENTERPRISE SIZE

ENTERPRISE AGE

PROJECT SIZE

LARGE23%

SME77%

$500,000-$1,000,000

18%

$1,000,000-$2,000,000

4%

0-$100,00016%

$100,000 $500,000

62%

0-10 years49%

11-20 years25%

21-30 years18%

>30 years8%

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TTGV TTGV Technology Development FundingTechnology Development Funding

REGIONS

SECTORS

Marmara63%

Blacksea1%

Southeast1%

Aegean13%

Mediteranean1%

Central Anatolia

19%

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Success Stories - Success Stories - SETAŞSETAŞ

19971997 19981998 19991999 20002000 20012001 20022002 20032003 20042004 20052005

Total salesTotal sales( in USD)( in USD) 13,268,20013,268,200 15,692,30915,692,309 15,561,51915,561,519 16,479,55416,479,554 17,442,78917,442,789 23,580,33423,580,334 28,810,52328,810,523 34,342,23134,342,231 35,706,17535,706,175

ExportsExports(% of Sales)(% of Sales) 1515%% 15.215.2%% 15%15% 17%17% 21,621,6%% 10,110,1%% 3,63,6%% 3,83,8%% 4,34,3%%

R&D ExpendituresR&D Expenditures( in USD)( in USD)

104,238104,238 83,46283,462 86,33086,330 368,232368,232 225,037225,037 950,000950,000 1,000,0001,000,000 1,700,0001,700,000 1,500,0001,500,000

No.of employeesNo.of employees 100100 122122 118118 116116 145145 163163 117575 178178 175175

TTGV supportTTGV support( in USD)( in USD) 51,10551,105 39,67839,678 72,46172,461 442,452442,452 1,001,6411,001,641

Company data compiled by Y. Telçeken - TTGVCompany data compiled by Y. Telçeken - TTGV

Projects supported by TTGV Technology Development FundingProjects supported by TTGV Technology Development Funding “ “Development of Textile Dyes” - 1997Development of Textile Dyes” - 1997 “ “Development of Versions of Natural Thickeners for Textile Printings” - 1999Development of Versions of Natural Thickeners for Textile Printings” - 1999 “ “Improvement of Several Textile Dyes” - 2001Improvement of Several Textile Dyes” - 2001 “ “Advanced Filtration and Drying Techniques” - 2002Advanced Filtration and Drying Techniques” - 2002 “ “Development of Subsidiary Textile MaterialsDevelopment of Subsidiary Textile Materials” - 2002” - 2002 “ “Developing polyester and polypropylene based masterbatch” - 2003Developing polyester and polypropylene based masterbatch” - 2003

Establishment :Establishment : 1966 in İstanbul 1966 in İstanbul

Sector :Sector : Textile Chemicals & Dyes Textile Chemicals & Dyes

SETAŞ received the Technology Success Awards for SMEs in 2003SETAŞ received the Technology Success Awards for SMEs in 2003

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Success Stories - Success Stories - ÖzçelikÖzçelik

19971997 19981998 19991999 20002000 20012001 20022002 20032003 20042004 20052005

Total salesTotal sales( in USD)( in USD) 569,375569,375 631,997631,997 710,502710,502 1,798,2481,798,248 2,173,2522,173,252 5,736,0405,736,040 3,246,6893,246,689 10,482,38710,482,387 6,449,5806,449,580

ExportsExports(% of Sales)(% of Sales) 0%0% 0%0% 5.04%5.04% 6.13%6.13% 23.38%23.38% 16.51%16.51% 0%0% 29.0%29.0% 55.0%55.0%

R&D R&D ExpendituresExpenditures( in USD)( in USD)

00 255,680255,680 394,636394,636 68,28068,280 1,306,0521,306,052 362,644362,644 516,126516,126 433,283433,283 18,36718,367


TTGV supportTTGV support( in USD)( in USD) 1.315.480 1.315.480 373,375 373,375 491,850 491,850


Özçelik received the Technology Success Awards for SMEs in 1997Özçelik received the Technology Success Awards for SMEs in 1997

Projects supported by TTGV Technology Development FundingProjects supported by TTGV Technology Development Funding “ “Polypropylene Yarn Production Machine” - 1998Polypropylene Yarn Production Machine” - 1998 “ “Making Design & Production of Production of Poly Spin Pet Combi Synthetic Yarn Production Making Design & Production of Production of Poly Spin Pet Combi Synthetic Yarn Production Machine” - 2002Machine” - 2002 “ “Polyspin Synthetic Yarn Production Machine” - 2003Polyspin Synthetic Yarn Production Machine” - 2003 “ “Polyspin stable Syntethic Yarn Production Machine” – being evaluatedPolyspin stable Syntethic Yarn Production Machine” – being evaluated

Establishment :Establishment : 1997 in Gaziantep 1997 in Gaziantep

Sector :Sector : Textile Machinery Manufacturing Textile Machinery Manufacturing

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Success Stories - Success Stories - GATEGATE

19971997 19981998 19991999 20002000 20012001 20022002 20032003 20042004 20052005

Total salesTotal sales( in USD)( in USD) 3,261,003,261,00 3,705,0003,705,000 3,803,0003,803,000 8,706,6218,706,621 5,867,0035,867,003 3,995,5523,995,552 7,705,4137,705,413 11,406,25411,406,254

19,072,0619,072,0644

ExportsExports(% of Sales)(% of Sales) 15%15% 20%20% 36%36% 30%30% 34%34% 35%35% 50%50% 35%35% 70%70%

R&D R&D ExpendituresExpenditures( in USD)( in USD)

250,000250,000 375,000375,000 401,000401,000 1,709,8481,709,848 1,029,3581,029,358 992,727992,727 622,116622,116 1,343,3071,343,307 1,722,2081,722,208


TTGV supportTTGV support( in USD)( in USD) 485,018485,018 525,431525,431


Projects supported by TTGV Technology Development FundingProjects supported by TTGV Technology Development Funding ““Universal Type Test and Measuring DeviceUniversal Type Test and Measuring Device” - ” - 19991999 “ “Computer Aided Test and Error Detection Tool for Communication and Satellite SystemsComputer Aided Test and Error Detection Tool for Communication and Satellite Systems”” - - 20022002 “ “Satellite Integrated Radio Routing and Telecom Transfer TerminalSatellite Integrated Radio Routing and Telecom Transfer Terminal”” - - 20022002

Establishment :Establishment : 1995 - Ankara 1995 - Ankara

Sector :Sector : Electronics Test & Measurement Devices Electronics Test & Measurement Devices

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Additional R&D intensity due to the existence of the support program is the additionality. Additional R&D intensity due to the existence of the support program is the additionality. (1)(1)

Technology Development Support by TTGV between 1999-2005 was 2% of all private R&D Technology Development Support by TTGV between 1999-2005 was 2% of all private R&D

expenditures.expenditures.

Support receiving companies funded only 14% of all projects by TTGV funds. But, TTGV funded Support receiving companies funded only 14% of all projects by TTGV funds. But, TTGV funded

projects consumed 46% of all expenditures. (evaluation process is an inconvenience for companies)projects consumed 46% of all expenditures. (evaluation process is an inconvenience for companies)

Without TTGV support 22% would have canceled the project (12% of Large and 27% of SMEs); 44% Without TTGV support 22% would have canceled the project (12% of Large and 27% of SMEs); 44%

would have shaved the budget by 40%. This would have resulted in 34% less R&D spending.would have shaved the budget by 40%. This would have resulted in 34% less R&D spending.

42% of those rejected had to cancel the projects, 19% carried out with a smaller budget.42% of those rejected had to cancel the projects, 19% carried out with a smaller budget.

R&D intensity R&D intensity (2)(2) for support recieving firms increased 3,61 points compared to the same profile for support recieving firms increased 3,61 points compared to the same profile

control group.control group.

TTGV supports had no effect on labor productivityTTGV supports had no effect on labor productivity ..

TTGV supported firms in services had significantly higher export intensity, other sectors scored the TTGV supported firms in services had significantly higher export intensity, other sectors scored the

samesame..

TTGV support receiving firms had higher employment generation, with R&D personnel getting higher TTGV support receiving firms had higher employment generation, with R&D personnel getting higher

salaries. salaries.

Support receiving (1993-1997) companies had better survival ratios in 2001 crises.Support receiving (1993-1997) companies had better survival ratios in 2001 crises.

Supports had better impact on low and mid-low technology sectorsSupports had better impact on low and mid-low technology sectors

Determining AdditionalityDetermining Additionality

(1)(1) “Behavioral” additionality is harder to measure. Additionality requires observations for over 5 years after the support “Behavioral” additionality is harder to measure. Additionality requires observations for over 5 years after the support

(2)(2) R&D intensity : ratio of R&D spending to total salesR&D intensity : ratio of R&D spending to total sales

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Early stage quality finances is a serious gap in Turkey (seed, start-up – phases of enterprise Early stage quality finances is a serious gap in Turkey (seed, start-up – phases of enterprise

finance) : the gap is between 100 K – 400 K USD.finance) : the gap is between 100 K – 400 K USD.

Current VC works as equity financing with minimum investment above 1 M USD.Current VC works as equity financing with minimum investment above 1 M USD.

In recognition TTGV started with WB support a start-up Program in 2004 – first of its kind in In recognition TTGV started with WB support a start-up Program in 2004 – first of its kind in

TurkeyTurkey

A hybrid model – semi-independent arrangementA hybrid model – semi-independent arrangement An ex-pat Turkish enterpreneur was recruited to manage the program An ex-pat Turkish enterpreneur was recruited to manage the program A high profile investment committee was established for investment selectionA high profile investment committee was established for investment selection

The financial model : 400 K USD initial equity investment for upto 25% of the company with The financial model : 400 K USD initial equity investment for upto 25% of the company with

strong minority control – exit option of buy-back is granted.strong minority control – exit option of buy-back is granted.

Around 85 inquiries received, 35 submitted Business Plans, 9 qualified for submittal to the Around 85 inquiries received, 35 submitted Business Plans, 9 qualified for submittal to the

committee after initial evaluation, 1 was issued a term sheet. (US ave. 1%) – 3 are being committee after initial evaluation, 1 was issued a term sheet. (US ave. 1%) – 3 are being

evaluated for the committeeevaluated for the committee

Most Business Plans were “half baked” and required below 100 K USD and strong business Most Business Plans were “half baked” and required below 100 K USD and strong business mentoring.mentoring.

The Start-up ProgramThe Start-up Program

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Start-up Program : Lessons LearnedStart-up Program : Lessons Learned

A hybrid model will never work. Issues of A hybrid model will never work. Issues of accountabilityaccountability – be fair to “heros” – be fair to “heros”

No best practice model, need to develop your ownNo best practice model, need to develop your own

Start with achievable objectives (forget about X10 returns) make sure deal flows through the pipeline Start with achievable objectives (forget about X10 returns) make sure deal flows through the pipeline

first – build confidence, establish requirements and procedures, build capacity in the organizationfirst – build confidence, establish requirements and procedures, build capacity in the organization

A fully independent model is difficult (at leas initially) with public funds (a funds of funds model A fully independent model is difficult (at leas initially) with public funds (a funds of funds model

arrangement can be more workable under the right conditions)arrangement can be more workable under the right conditions)

While through put ratio is above US ave (1 in 35 BPs received), a mission program needs higher While through put ratio is above US ave (1 in 35 BPs received), a mission program needs higher

ratios for stronger faith in start-upsratios for stronger faith in start-ups

- need to extend into pre-incubation / BP supportneed to extend into pre-incubation / BP support

Start-up is a culture and state of mind – you need the right chemistry, the team, vision and the Start-up is a culture and state of mind – you need the right chemistry, the team, vision and the

networks.networks.

Start-up will only work as part of a functional national pipeline. (the critical path). Issues of deal flow. Start-up will only work as part of a functional national pipeline. (the critical path). Issues of deal flow.

strong seed and incubation (incl. pre-incubation) supports are required.strong seed and incubation (incl. pre-incubation) supports are required.

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Future Directions for RTDI SupportFuture Directions for RTDI Support

ODTÜ Teknokent

İTÜ ArıTeknokent

Bilkent Cyberpark

Total Number of Firms 103 24 141

Established in the Technopark 50 2 n/a

Graduate of Incubators 12 n/a -

Academic Spin-offs 8 1 17

Supported in the incubator 23 18 24

Valorization of knowledge shouldValorization of knowledge shouldbe a higher program be a higher program performance priorityperformance priority

Three levels of coordination and management :Three levels of coordination and management :

Policy and strategy level (such as with regional, education, taxation and industrial policies, Policy and strategy level (such as with regional, education, taxation and industrial policies,

i.e. “enablers”) – program owners and policy makers i.e. “enablers”) – program owners and policy makers

Enterprise level – program implementation and execution agencies (accounts)Enterprise level – program implementation and execution agencies (accounts)

Project level – project managers (outcomes)Project level – project managers (outcomes)

Need to develop a tool set of different supports to cover all stages of RTDI value chain. Need to develop a tool set of different supports to cover all stages of RTDI value chain.

Emphasize social aspects of RTDI, networks (esp. ex-pat networks and multi-national), Emphasize social aspects of RTDI, networks (esp. ex-pat networks and multi-national),

mobility and transitivity – mobility and transitivity – aim beyond provision of financesaim beyond provision of finances

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TTGV offers a very progressive model for support delivery. Management autonomy and flexibility TTGV offers a very progressive model for support delivery. Management autonomy and flexibility

in in operationsoperations are pluses. The cost might be are pluses. The cost might be the the linkages to the stakeholders, esp. the government.linkages to the stakeholders, esp. the government.

Operating as a foundation has some limiting factors in spite of many strong advantages, Operating as a foundation has some limiting factors in spite of many strong advantages,

aalternative lternative corporate structurecorporate structuress may have to be considered. may have to be considered.

An organizational culture is needed. Strong identity with the organization needs to be developed. An organizational culture is needed. Strong identity with the organization needs to be developed.

Fast turnover in younger staff is an issue. (for many TTGV is either the first or the last employerFast turnover in younger staff is an issue. (for many TTGV is either the first or the last employer !!))

Strong venturing character is required. The support organization needs to be an innovative Strong venturing character is required. The support organization needs to be an innovative

knowledge enterprise itself. (knowledge enterprise itself. (believe in what you preachbelieve in what you preach))

The team The team and chemistry areand chemistry are critical. critical.

Stay in touch with the real world of technology market. Develop mobility and networks of your Stay in touch with the real world of technology market. Develop mobility and networks of your

own.own.

A Critique ofA Critique of TTGV TTGV

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[email protected]@ttgv.org.tr

www.ttgv.org.trwww.ttgv.org.tr

Documents

Technology Development Foundation of Turkey - 2006 1 Delivering Public Support to Private Companies Case of TTGV in Turkey A. Mete ÇAKMAKCI Technology