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Istanbul | Turkey




Enabling entrepreneurs to build sustainable,
high-growth startup companies
Girişim Fabrikası (Fit Startup Factory)
is a technology accelerator program designed to enable tech
entrepreneurs in Turkey, Eastern Europe and MENA to create high
potential, sustainable businesses, taking them from the idea stage to
launch.

 We seek to close the knowledge and resource gap experienced by promising
                young entrepreneurs as they embark on their startup adventure.
Opportunity

“      Turkey is in the midst of an uprising. Young
      people, united and empowered by technology,
                                                “ “
      are pounding at the gates of the old order and
        demanding that their country's elites make
                room for their new ideas.



Rob Salkowitz
Fast Company, March 2011
Who are these entrepreneurs?

                    Abdullah (28)
                    Uğur (25)
                    Dilfer (27)

                    •   Engineers with MSc. degrees
                    •   National Business Plan
                        Competition Winners
                    •   1-2 years professional experience
                    •   Using internet technologies to
                        solve societal and business
                        issues… in the classroom, on the
                        design floor, etc.
PAINS                                  • Lack of Structured Training
                                                      • Insufficient and Opaque Sector Information
                                                      • Low Level of Resources in own Networks




What are they looking for?
               Feedback and Advise on Business Idea
            Learn to build innovative business models
                          Access to pre-seed financing
                          Focus on Code & Customers
        (rather than office space, legal terms, accounting mumbo-jumbo)




                                                       • More PR, More Coverage, More WOM

              GAINS                                    • Meet Like-Minded, Like-Motivated Young
                                                         Entrepreneurs, i.e. a Startup Community
Selection
Our primary focus is on team rather than business plans.

We seek teams who embody the core functions for startup success, while
exhibiting an openness to learn and ability to pivot their idea. We know
that Plan A is almost never the winning formula, so we want
entrepreneurs who can 'Get Out of the Building', test & experiment, and
then move to Plan B based on validated learning.
Our Acceleration Process
                                             6 Months to the Finish Line
The Fit Startup Program is built around the assumption that great
entrepreneurs are raised, but game-changing ideas (and likewise
startups) are the collaborative efforts of founders, mentors, and                                     move to
customers. We simply endeavor to create a platform for those                                           market
                                                                                                     (1 month)
elements to come and work together.


GF Business Plan Competition

GF Virtual Open Lecture                    Fit Startup Canvas
                                           develop and validate
                                                                          bootcamp                  product & biz
                                           sustainable & investable
Academic Programs                                                         (2 weeks)                 development
                                           business models using an in-
                                           house model canvas* +                                     (4 months)
Social Media, Web Presence                 badge-driven gamification
                                           process
Partnership Activities & Events
                                                                                       prototype
                                                                                      development
                                                                                        (3 weeks)
* a blend of current entrepreneurial thinking, inspired by the work
of Steve Blank, Alex Osterwalder, Eric Ries, & Ash Maurya
Our success is defined by the collaborative skills and know-how of our team,
bridging live experience in startups together with academic entrepreneurship
methodologies and an international network, which we utilize to develop an
intense training and mentoring program in order to catalyze business model
innovation and the formation of sustainable startups.



         Jason Lau,                  Murat Tortopoğlu,           İhsan Elgin,
         Supervisor & Lecturer       Supervisor                  Director & Entrepreneur
Acceleration Services


•   Office Space
•   Legal & Accounting Consultancy
•   Tech Support
•   Access to University Resources


• Comprehensive Mentoring Program
     – internal mentors on a bi-weekly basis
     – external mentor network (local angel investors and VCs, serial entrepreneurs,
       experienced developers and corporate representatives) on a needs basis
     – external consultants (HR, marketing & branding, etc.) for short, issue-focused
       consultations
     – Board of Directors monthly for updates
Our Ecosystem
Founders

Sponsors


           Government
           Support



           Non-Profit &
           Incubators




           Angel Investors
           Venture Capitalists
The Market
       Turkish culture is progressively opening up to
       entrepreneurship. Following impressive economic growth,
       Turkey has developed politically and institutionally,
       accommodating itself better to entrepreneurship.

                           80% of entrepreneurs say
          that Turkish culture encourages business.



                                         Entrepreneurs Speak Out
                                         The Nice Côte d’Azur 2011
                                         Entrepreneurship Barometer
Turkey                                  72
                                        50%
                                           million people


                                                 under 30


 8.8%       economic expansion          35 million online


 57%       increase in e-commerce       13th internet economy


 In Europe, 3rd in online engagement    engaged
        (32.7 hours online per month)

          1st in content consumption
             (3,706 pages per month)    hungry

         5th in Facebook penetration
           8th in Twitter penetration   socially
             3rd in Foursquare usage    networked
Competitors
                              •   Acceleration through Lean Startup Methodology
                                  and Mentor Network
            Girişim Fabrikası
                              •   Business Model Innovation through Fit Startup
        (Fit Startup Factory)     Canvas
                              •   Pre Seed Capital, Legal & Accounting Services
                              •   Focus on Business Plan, not Model
       University Incubators • Deliver Incubation Services Only
                            •     Professional Software Development Support
         Private Incubators •     Seed & Angel Capital
                            •     Focused only on e-commerce
                              •   Strong Network, Ready Customer Base
  GSM Operators Incubation
                           • No Seed Capital Provided
                 Programs • Lack of Professional Services
                           •      Strong Local and Global Network
                           •      Established processes for selection & mentoring
    Other Startup Programs •      Some imported formal training programs
                           •      Lack of Physical Space
Results: 18 months                             Angel Investment
                                               Raised (TL)
                                               1,415,000 TL

              727
           Applications                                           Government Support
                                                                  Received (TL)
               74
       Camp Participants

               18
                                                                   530,000 TL
                                                                                  40
                                                                                  People Employed
            Selected

                           Some of our startups:


  10            6            2
startups      R&D          Failed
Investment Opportunities

     Sponsor the Factory and play an
     integral role in the growth of the
     program as well as benefiting from
     GF’s central position in the Turkish
     entrepreneurial ecosystem


     Join our Investor Network and
     get early networking and investment
     opportunities with our dynamic
     startups
girisimfabrikasi.com



   girisimfabrikasi@ozyegin.edu.tr



   facebook.com/GirisimFabrikasi



   @girisimfabrika



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Girisim Fabrikasi - the Fit Startup Factory

  • 1. Istanbul | Turkey Enabling entrepreneurs to build sustainable, high-growth startup companies
  • 2. Girişim Fabrikası (Fit Startup Factory) is a technology accelerator program designed to enable tech entrepreneurs in Turkey, Eastern Europe and MENA to create high potential, sustainable businesses, taking them from the idea stage to launch. We seek to close the knowledge and resource gap experienced by promising young entrepreneurs as they embark on their startup adventure.
  • 3. Opportunity “ Turkey is in the midst of an uprising. Young people, united and empowered by technology, “ “ are pounding at the gates of the old order and demanding that their country's elites make room for their new ideas. Rob Salkowitz Fast Company, March 2011
  • 4. Who are these entrepreneurs? Abdullah (28) Uğur (25) Dilfer (27) • Engineers with MSc. degrees • National Business Plan Competition Winners • 1-2 years professional experience • Using internet technologies to solve societal and business issues… in the classroom, on the design floor, etc.
  • 5. PAINS • Lack of Structured Training • Insufficient and Opaque Sector Information • Low Level of Resources in own Networks What are they looking for? Feedback and Advise on Business Idea Learn to build innovative business models Access to pre-seed financing Focus on Code & Customers (rather than office space, legal terms, accounting mumbo-jumbo) • More PR, More Coverage, More WOM GAINS • Meet Like-Minded, Like-Motivated Young Entrepreneurs, i.e. a Startup Community
  • 6. Selection Our primary focus is on team rather than business plans. We seek teams who embody the core functions for startup success, while exhibiting an openness to learn and ability to pivot their idea. We know that Plan A is almost never the winning formula, so we want entrepreneurs who can 'Get Out of the Building', test & experiment, and then move to Plan B based on validated learning.
  • 7. Our Acceleration Process 6 Months to the Finish Line The Fit Startup Program is built around the assumption that great entrepreneurs are raised, but game-changing ideas (and likewise startups) are the collaborative efforts of founders, mentors, and move to customers. We simply endeavor to create a platform for those market (1 month) elements to come and work together. GF Business Plan Competition GF Virtual Open Lecture Fit Startup Canvas develop and validate bootcamp product & biz sustainable & investable Academic Programs (2 weeks) development business models using an in- house model canvas* + (4 months) Social Media, Web Presence badge-driven gamification process Partnership Activities & Events prototype development (3 weeks) * a blend of current entrepreneurial thinking, inspired by the work of Steve Blank, Alex Osterwalder, Eric Ries, & Ash Maurya
  • 8. Our success is defined by the collaborative skills and know-how of our team, bridging live experience in startups together with academic entrepreneurship methodologies and an international network, which we utilize to develop an intense training and mentoring program in order to catalyze business model innovation and the formation of sustainable startups. Jason Lau, Murat Tortopoğlu, İhsan Elgin, Supervisor & Lecturer Supervisor Director & Entrepreneur
  • 9. Acceleration Services • Office Space • Legal & Accounting Consultancy • Tech Support • Access to University Resources • Comprehensive Mentoring Program – internal mentors on a bi-weekly basis – external mentor network (local angel investors and VCs, serial entrepreneurs, experienced developers and corporate representatives) on a needs basis – external consultants (HR, marketing & branding, etc.) for short, issue-focused consultations – Board of Directors monthly for updates
  • 10. Our Ecosystem Founders Sponsors Government Support Non-Profit & Incubators Angel Investors Venture Capitalists
  • 11. The Market Turkish culture is progressively opening up to entrepreneurship. Following impressive economic growth, Turkey has developed politically and institutionally, accommodating itself better to entrepreneurship. 80% of entrepreneurs say that Turkish culture encourages business. Entrepreneurs Speak Out The Nice Côte d’Azur 2011 Entrepreneurship Barometer
  • 12. Turkey 72 50% million people under 30 8.8% economic expansion 35 million online 57% increase in e-commerce 13th internet economy In Europe, 3rd in online engagement engaged (32.7 hours online per month) 1st in content consumption (3,706 pages per month) hungry 5th in Facebook penetration 8th in Twitter penetration socially 3rd in Foursquare usage networked
  • 13. Competitors • Acceleration through Lean Startup Methodology and Mentor Network Girişim Fabrikası • Business Model Innovation through Fit Startup (Fit Startup Factory) Canvas • Pre Seed Capital, Legal & Accounting Services • Focus on Business Plan, not Model University Incubators • Deliver Incubation Services Only • Professional Software Development Support Private Incubators • Seed & Angel Capital • Focused only on e-commerce • Strong Network, Ready Customer Base GSM Operators Incubation • No Seed Capital Provided Programs • Lack of Professional Services • Strong Local and Global Network • Established processes for selection & mentoring Other Startup Programs • Some imported formal training programs • Lack of Physical Space
  • 14. Results: 18 months Angel Investment Raised (TL) 1,415,000 TL 727 Applications Government Support Received (TL) 74 Camp Participants 18 530,000 TL 40 People Employed Selected Some of our startups: 10 6 2 startups R&D Failed
  • 15. Investment Opportunities Sponsor the Factory and play an integral role in the growth of the program as well as benefiting from GF’s central position in the Turkish entrepreneurial ecosystem Join our Investor Network and get early networking and investment opportunities with our dynamic startups
  • 16. girisimfabrikasi.com girisimfabrikasi@ozyegin.edu.tr facebook.com/GirisimFabrikasi @girisimfabrika Contact Information