In building this site, it was always my intention to feature Turkey's entrepreneurs. So when Serkan of Trink (http://www.trink.com.tr) and 4Yaprak Bilgi Teknolojileri emailed me his business plan with his elevator pitch in an email, I was more than happy to publish his inquiry. Here is some of what he wrote:
So, for any interested parties, angels, seed and venture investors out there, please check out Trink's business presentation (PDF) and Trink's Brochure (PDF) for further details (in Turkish).
I produce a prototype and apply to TTGV (TECHNOLOGY DEVELOPMENT FOUNDATION OF TURKEY) for the fund that I need to create my product (TRINK).
They gave me an incubation fund to create my first pre_production prototype. But now, I need the real fund for startup and mass production for TRINK.
The problem is starting from here: TTGV is one of the biggest foundations in Turkey, but they can not invest any enterpreneur or a company directly -except the incubation fund that we get- because of our laws in Turkey (because TTGV is a FOUNDATION ). So, they(TTGV) set up another company called Teknoloji Yatirim A.S. (Technology Investment Corp.) to support new ideas/companies. Teknoloji Yatirim A.S. supports the enterpreneurs with a fund and create a new partnership company for 4 or 5 years then they exit from this partnership.
But, the problem is that we are not in the range of Teknoloji Yatirim A.S.'s investments. They are investing the new ideas in nanotechnology, advanced technology, …etc. with minimum 200.000 USD startup fund and with minimum 5 million USD income expectation. So, I am trying to find an investor for my project. Here is our situation:
- We need ~120.000 USD
- Our technology is not an advanced technology. It's new for Turkey but not an advanced technology (our project is a coin/change dispenser).
- Our expected income is max. 5 million USD for 4 years in Turkey.
I realize this not "new technology" but an investment all the same, and if Serkan's numbers are sound (per due diligence) and with some VC guidance, this is a valid opportunity waiting to be scooped up. On last speaking with Serkan, he was on his way to speak with IBM on developing the software to be compatible with IBM POS systems. So time is of the essence...
For any information on Trink, please visit the Trink website. In addition, you can also inquire at Grandstanding Traction at firstname.lastname@example.org.
Technorati Tags: TTGV, Venture Capital, Entrepreneur, Deal Flow, Turkey, entrepreneurship, Seeking Funds, innovation, Trink, 4Yaprak Bilgi Teknolojileri, Seed Capital
Labels: Entrepreneurship, Innovation, Invention, Seed Capital, Seeking investment, TTGV, Venture Capital