METU Prof. Dr. Mustafa N. Parlar Education and Research Foundation, established on January 12, 1981, serves the purpose of contributing to scientific and technological development and commemorating the esteemed academician, valuable faculty member, and distinguished individual Prof. Dr. Mustafa N. PARLAR, one of the founders of the Middle East Technical University.

The foundation aims to enhance university-industry relations, support scientific research and researchers, provide technical equipment and resources to the Middle East Technical University, offer scholarships and loans to students, and provide mentor-mentee services.

Additionally, the foundation evaluates research activities and services in the fields of science and industry, encourages and promotes emerging generations, and annually awards the Honorary, Science, Service, Research, and Technology Incentive Awards. Furthermore, it presents the METU Educator of the Year Awards to faculty members within the Middle East Technical University, and it grants the METU Outstanding Achievement in Education Awards to teaching staff who have received the education award three times.