In the letter sent to our Stock Exchange by TOBB; It is aimed to support research and innovation activities on the basis of intersectoral and international collaborations within the scope of Horizon 2020, the world's largest grant program in its field, which will be implemented with a budget of approximately 80 Billion Euros between 2014 and 2020. Our country participates in the Horizon 2020 Program with equal rights and status with European Union (EU) Member States. Horizon 2020 Program offers important opportunities not only for universities and academic institutions, but also for the industrial sector and SMEs. Industrial organizations, SMEs, non-governmental organizations, universities, research institutions, public institutions and individual researchers can benefit from the Horizon 2020 Program.
Thanks to participation in the Horizon 2020 Program, our companies' collaborations with customers, suppliers or international stakeholders in their target markets are supported. In this regard, it is possible to implement research and innovation projects that provide our private sector with effective access to new markets and increase its export potential. Research and innovation expenses of the projects included in the program can be financed at rates ranging from 87.5% to 125% as prepayment.
In addition, within the scope of the Horizon 2020 Program, the "InnovFin - EU Financing for Innovators" Program, which includes integrated and complementary financial instruments and consultancy services, has been created to ensure easier access to financing for innovative SMEs. Within the framework of the agreement made between the European Investment Fund (EIF) and the Turkish Industrial Development Bank (TSKB) on March 16, 2016, a total of 20 million Euros of credit will be provided to innovative SMEs in the field of research and innovation in the next two years, using financial intermediaries. It is important to announce to our members.