Final Application Deadline for the Chemistry R&D Project Market: 18 November

The deadline for applications to the 11th Chemistry R&D Project Market competition, organized by the Istanbul Chemical Substances and Products Exporters Association (İKMİB) with the approval of the Turkish Ministry of Trade and Turkey Exporters Council (TİM) and with TUBITAK support, has been announced as 18 November 2022. Jury presentations and the awards ceremony for finalist projects will be held on 10 December 2022. The 11th edition of the Chemistry R&D Project Market will be organized this year, established to promote a culture of R&D and innovation and to increase high value-added production and exports through university-industry-public-entrepreneur cooperation. The event, held annually by İKMİB since 2011, aims to contribute to technological solutions sought especially to meet industry's intermediate goods needs. The awards ceremony of the event, which has been conducted digitally for the past two years due to the pandemic, will be held in person on 10 December 2022. Applications will continue until 18 November 2022.

TRY 1,000,000 Prize Money

Applications will be evaluated in 6 separate categories: "pharmaceuticals", "medical products", "paints and adhesives", "plastics and rubber", "cosmetics-soap and cleaning products", and "basic chemicals". Project owners who place will receive TRY 900,000 plus an additional TRY 100,000 special award for commercialized projects, for a total of TRY 1,000,000 in prize money. Over 1,200 project applications were received in the 10 events held since 2011, with project owners awarded a total of TRY 2,306,000 in cash prizes. This year, prize amounts in each category have been increased, with first place receiving TRY 75,000, second place TRY 50,000, and third place TRY 25,000. Furthermore, among those who place, projects that have been commercialized within a year will be eligible to receive an additional TRY 100,000 award.

Success Stories

In addition to competition categories, applications are also accepted in the "Success Stories" category, and the event aims to promote projects that achieved a certain level of success after placing in previous years. Under this framework, promotional films made for 18 projects in 2020 and 10 projects in 2021 from Success Story category applications are being distributed through various channels.

Opportunity to Meet Investors

The cooperation with fund providers that began in 2021 continues this year. Under this framework, selected finalists from the 36 projects reaching the final stage of the R&D Project Market will have the opportunity to meet with investors. If deemed appropriate, they will receive the necessary support to enter an investment round via Equity-Based Crowdfunding on the platform.

Adil Pelister, Chairman of the Board of Directors of İKMİB, commenting on the 11th Chemistry R&D Project Market event, said the following:

"Through the Chemistry R&D Project Market, which our Association has been organizing for 11 years, aiming to enable the chemical and materials sector to achieve high value-added production, to sustain the exports generated, and to create an environment that will provide competitive advantage in world markets, we bring together universities, industry, public institutions, and entrepreneurs on the same platform. We are creating an open environment for domestic universities, research institutions, industrialists, entrepreneurs, relevant public institutions, and other stakeholders that will produce projects related to new products and production technologies with the aim of raising quality and standards, bringing together the relevant sectors to discuss these matters mutually and establish cooperation. In this way, we contribute to equipping our sector with new high value-added products. Within the framework of 10 events held so far, over 1,200 project applications were submitted and we distributed a total of TRY 2,306,000 in cash prizes to winning project owners. We increased the cash prize amount that was TRY 600,000 last year to TRY 900,000 this year. Additionally, with the TRY 100,000 award we will provide for commercialized projects, our total award amount will reach TRY 1,000,000. According to commercialization research for all projects that have participated in Chemistry R&D Project Markets to date, we have determined that 32 projects have been commercialized or have reached the sales-waiting stage. We hope this number will increase further. Applications for the competition, which we are organizing in 6 different categories, can be made until 18 November 2022 via https://www.kimyaargeprojepazari.com/. We await the applications of all candidates."