A Turkish Private Equity Web Log

In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication thereof.


ODTÜ-Teknokent and KOSGEB Hold "Entrepreneur-Investor Meeting": Training for Entrepreneurs
Middle East Technical University Metutech (ODTÜ-Teknokent) and KOSGEB (Small/Medium-size Industry Development Organization - see left sidebar) have teamed up and are holding an "Entrepreneur-Investor Meeting" in Istanbul. The Entrepreneur-Investor Meeting {Site Link} will take place at the Ritz-Carlton Hotel on Oct. 31 and Nov. 1st. A Forum will convene on Nov. 2nd to discuss, "Early-Stage Funding in Technology Start-Ups / Benchmarkings for Turkey".

For entrepreneurs of Turkey, this is exciting news, but you must hurry to register. The program includes an "Online Business Plan Preparation Training" between September 15, 2007 and October 15, 2007 where entrepreneurs are trained in the necessities of arranging their own business plan. Registration for this training will cost 450 YTL.

Then according to the website:
Technology entrepreneurs that successfully complete the training will present the business plans to be prepared by them to a team of experts in venture capital and business plan evaluation during the "Business Plan Review Board" activity to be held on October 31, 2007, where they will finalize their business plans by obtaining the opinions of experts as well.

During the "Entrepreneur-Investor Meeting", which will be organized on November 1, 2007, on the other hand, technology entrepreneurs will share their business plans with potential actual investors – business angels or venture capital companies. Our objective is to allow the minimum technology start-up to proceed on its way with new funding opportunities …
Then on Nov. 2nd, the "Early-Stage Funding in Technology Start-Ups / Benchmarkings for Turkey" Forum will take place as an all-day event. This event is open to the first 200 registrations, and is only 30 YTL, so sign up today. The Forum panel looks to include many dignataries from TUBITAK, TTGV and various Angel Investment Networks from Europe. This shall be a very interesting forum to spectate as we well see some very professional opinions on the current state of incubation and Series A Round Venturing in Turkey with models coming from Europe.

For a long time, I have always stressed the idea of good business planning and its need for an educative place in the building of Turkey's innovation and entrepreneurship. In previous interviews with Turkish VCs, I am constantly amazed by the lack of knowledge in the business planning area from the entrepreneurs part. But now, with this Training and Forum, it looks like KOSGEB, TUBITAK, TTGV and ODTÜ are finally making some choices toward entrepreneur education. While not really a fan of what the government can do with its bureaucracy and many faceted organizations that take up the Turkish R&D space, it will be interesting to see their take on this forum moving forward.

Perhaps in the future, why is it that only the entrepreneurs who take the training are able to participate in the Business Plan Meetings with investors? Do entrepreneurs usually have 450 lira to pitch their ideas? I would also encourage atleast in the future a more open submission guideline, perhaps an extra day for outside submissions and evaluations by committee.

In addition, by the look of those attending on the forum, it looks like we will capture an interesting viewpoint by leaders in the Angel Investor space. Most curiously (and poignantly), none of these angel organizations are from Turkey. Yes, I realize, per my last post, that for Turkey's incubated companies getting out of the Science and Technoparks; they are having trouble finding financing and are being lost in a "VC funding gap". Continually we are seeing more and more incubation, and non-existant VC investment and/or higher VC investments, basically squeezing out the entrepreneurs looking for that Seed-Venture round. We will have to wait and see what our friends at KOSGEB, TTGV and TUBITAK feel about this issue.

Thanks again to my friends at Endeavor who passed this on to me.

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Posted @ 21:03  
1 Comments:
  • At 11/29/2007 1:47 PM, Blogger Gaic Conan said…

    Hello,

    Interesting article. Indeed, knowledge is the critical point for Entrepreneur. I like what you said. I am trying to build an Entrepreneurs Investors community. Our idea is to bring to entrepreneurs advice that will help t hem in the growth process (without crawling and begging for help). They can post their needs. Most entrepreneurs are too isolated and just don’t know what to do. They also do not have all the financial resources to ask for advice. We will be honored if you can participate to our community.

    I leave you the decision to publish the address of the website (thestreetmarket.com).

    Thanks and good work!

     
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