Turkish entrepreneur shares his success story
Founder of research and development company says he sold his wife’s bracelet to begin his career
A Turkish entrepreneur, who began his business with small money that he generated by selling his wife’s bracelet, is now a founder of a company, which exports defense industry products to six countries.
"We began work with my own little resources. The government's support boosted our morale. I could not do it on my own," Zafer Durusoy, the founder of Nanovak, said, as he told his company's success story to Anadolu Agency.
Durusoy's company, named Nanovak, was established in 2006 and it operates in Hacettepe University's technology development zone -- Hacettepe Teknokent.
The research and development company works in the field of defense industry and nanotechnology, and it produces equipment used in defense and space technologies.
Durusoy said that they developed the company with support from KOSGEB, a state-run organization which serves small and medium enterprises.
The KOSGEB provides soft or non-recourse loans to help establish successful and sustainable enterprises.
"This is really important. I thank KOSGEB. They provided interest free loans, they paid one of our employee's insurance," Durusoy said.
"We produced systems with vacuum that has not been known in society and we work on application of them in defense industry. We produce sub-devices which are used in testing the manufactured products. We do not work directly in production of weapons but we produce sensors," Durusoy explained.
First export
Space simulators are developed for Scientific and Technological Research Council of Turkey (TUBITAK) and Turkish defense company ASELSAN, Durusoy noted.
The company, which was established with small funds, became an exporter in 11 years, Durusoy said, and added that the company made its first export to the U.K. in 2008.
"Our domestic contribution to our product is around 75 percent. We import the rest of the goods," he said.
Durusoy noted that selling goods in the defense and nanotechnology sector is very difficult as there is high competition and excess supply.
Besides the U.K., the company, which has capacity to produce 30-40 devices per year, export their products to Egypt, Pakistan, Jordan, Iraq and Syria, he said.
Turkey's Deputy Prime Minister Mehmet Simsek also praised Durusoy's achievement by sharing his story on Twitter account.
"Here is spirit of entrepreneurship," Simsek said.
