Türkiye launches SME Digital Transformation Support Program with over $600K financing

Türkiye introduces an ambitious program offering SMEs affordable financing of up to ₺20 million ($617,665.2) for digital transformation

Minister of Industry and Technology Mehmet Fatih Kacir announced the launch of the “SME Digital Transformation Support Program,” which aims to enhance SMEs’ operational efficiency and technological integration.

During the SME Digital Transformation Promotion Program held at the Presidency of the Small and Medium Enterprises Development Organization (KOSGEB), Minister Kacir emphasized: “We are providing access to affordable financing, up to ₺20 million ($617,665.2) over a 36-month period, for SMEs implementing digital transformation projects.”

Highlighting the importance of embracing innovative technologies like artificial intelligence, IoT, big data, and robotics, Kacir stressed their pivotal role in reshaping daily practices and decision-making mechanisms.

 

He underscored the significance of adapting these technologies into business models to facilitate effective, efficient, and rapid services, expressing the Ministry’s commitment to supporting industries and businesses in their digital transformation journey.

Furthermore, Kacir emphasized the establishment of model factories across the country to prepare businesses for the challenges of the Fourth Industrial Revolution and enhance productivity through various services provided to enterprises and employees.

To strengthen international collaborations in digital transformation, Kacir highlighted initiatives such as establishing European Digital Innovation Centers in Türkiye, which facilitate businesses’ access to innovation and technology development infrastructure.

Acknowledging the necessity of digital transformation for sustainable and prosperous business models in the competitive world, Kacir emphasized the importance of assessing SMEs’ competencies using a specially designed evaluation tool, considering Türkiye-specific factors.

He elaborated on the essential elements for successful digital transformation, including the proper infrastructure, qualified workforce and well-planned financial strategies.

He mentioned the development of the Digital Transformation Maturity Assessment Model (DDX) to guide nationwide implementation.

Regarding financing, Kacir announced the provision of ₺20 million in financing, up to a maximum of 36 months, for SMEs implementing digital transformation projects. It emphasizes collaboration with institutions like TEB to remove financial barriers hindering SMEs’ digital journey.

In conclusion, Kacir reiterated Türkiye’s commitment to supporting SMEs, essential drivers of the manufacturing industry, in advancing the country’s economic and social development, promising to continue strengthening partnerships with international financial institutions to foster innovation and growth.

Source: Newsroom