General Electric (GE) and Borsa İstanbul signed a Memorandum of Understanding (MoU) in order to cooperate for strengthening the entrepreneurial ecosystem in Turkey, thereby making GE Borsa İstanbul Private Market’s “Solution Partner” in “Energy and Health Technologies”.
General Electric (GE) and Borsa İstanbul signed a Memorandum of Understanding in Istanbul on October 27, 2015 in order to strengthen the technology and innovation focused entrepreneurial ecosystem in Turkey particularly in the areas of health, energy and industrial internet.
The MoU envisages that the two institutions will work for fulfilling the financing and liquidity requirements of entrepreneurial companies such as GE program and/or business partners, group companies, participations, etc.; GE’s entrepreneurial coaches and mentors will provide mentorship support for entrepreneurs in the Private Market that are operating in the health and energy sectors; the parties will offer mutual support in announcing each other’s studies, activities and services aimed at entrepreneurs, and actively participate in each other’s entrepreneurial activities; the parties will direct the Private Market-qualifying companies included in GE’s entrepreneurial programs to the Private Market; Borsa İstanbul will support their membership and apply discounts on their membership fees, and entrepreneurial companies will be encouraged to participate in GE’s programs on entrepreneurship.
Within this framework, the parties will cooperate in order to offer mentorship, training and consultancy services to entrepreneurial companies that are members of the Private Market, for growth and institutionalization. GE mentors will be offering mentorship services for the Private Market-member companies operating in the energy and health technologies sectors. With this agreement, Borsa İstanbul positions GE as the Private Market’s “solution partner” in the areas of energy and health technologies.
Emphasizing the expected contribution of General Electric’s being a solution partner of the Private Market for the development of entrepreneurial companies, Borsa İstanbul CEO Tuncay Dinç said, “We are pleased to sign this MoU with GE, a leading company. We hope to contribute to the technology and innovation focused entrepreneurial ecosystem in Turkey with this cooperation. We believe that this MoU will greatly serve the Private Market-member companies”.
General Electric Chairman & CEO Canan M. Özsoy said, “We are pleased to sign a cooperation agreement with Borsa İstanbul Private Market to contribute to the transformation of young ideas into products, and products into value added companies through a patent market. I would like to emphasize that this protocol is the first milestone of our joint wok with Borsa İstanbul, and we will be realizing numerous valuable projects together”.