At Tüpraş, we consider intrapreneurship, open innovation programs, start-up technologies, joint project efforts, and start-up investments as integral parts of our Strategic Transformation Plan and 2050 carbon-neutral goal. Since 2017, we have been working in our innovation focus areas, set out in accordance with company strategies.
With the Idea Unit Intrapreneurship Program, we instill a culture of innovation and entrepreneurship across the company and create value in a sustainable way. We organize internal and external communication and training events to bolster cultural transformation, systematically generate value, and increase competence.
We conduct our open innovation efforts in collaboration with domestic and international entrepreneurship ecosystems to cooperate, co-cultivate, and co-create value with ventures that align with Tüpraş's strategies. Relevant departments continue to team up with entrepreneurs through continuous surveys of the entrepreneurship ecosystem.
We are making firm advances in venture capital with Tüpraş Ventures.
We took another step in venture capital that will guide the transformation of the energy industry. We established Tüpraş Ventures to capitalize on new technologies and opportunities by investing in line with our innovation focus areas in Turkey, Europe, and the United States.
Tüpraş Ventures was founded to invest in technology initiatives for future energy systems, form strategic partnerships, and strengthen the ecosystem. It invests in domestic and international sustainable refining, biofuels, carbon management, zero-carbon electric, green hydrogen, smart information technologies, Industry 4.0, energy efficiency, the environment, and recycling and waste management. It also implements new business models and realizes potential partnerships.