Istanbul Technical University's ARI Teknokent, through its Big Bang Startup Challenge, has brought together entrepreneurs and investors and witnessed a record distribution of investment and awards. The two-day event showcased 50 innovative startups across eight different stages, spanning various sectors from mobility to artificial intelligence and finance technologies.
In its 12th year, the Big Bang event, themed "Imagine, Dare, Do," united entrepreneurs, investors, corporate firms, and tech enthusiasts, breaking its own record by reaching TL 1.28 billion ($44 million) in prizes, cash and investments. Last year's TL 341 million in rewards, cash and investments were surpassed by 3.5 times, demonstrating the event's growing significance in the Turkish entrepreneurial landscape.
The success of the event was attributed to the acclaimed ITÜ Çekirdek incubation center, which has secured Türkiye's world leadership in incubation programs. The Big Bang Challenge showcased 10 finalists out of the 50 startups, attracting intense investor interest.
Early-stage discoveries
Startups specializing in energy, automotive, mobility, finance technologies, and particularly artificial intelligence, presented their pitches across eight different stages, attempting to capture the attention of investors. And investors sought to expand their portfolios by exploring early-stage ventures boasting major potential.
While the current entrepreneurial landscape might not reflect an abundance of investments for startups, institutions like ITÜ ARI Teknokent ease the access of early-stage ventures to investors. Gülsün Sağlamer, the chair of the board at ITÜ ARI Teknokent, highlighted that the success of the institution is rooted in similar criteria identified in research on successful global technology and innovation ecosystems.
Sağlamer concluded her speech by emphasizing the role of the youth in shaping the future of the country, stating, "You, the youth, are the future of our nation."
New unicorns
Atilla Dikbaş, the general manager of ITÜ ARI Teknokent, emphasized that their international awards have paved the way for a notable increase in interest in Türkiye’s entrepreneurial ecosystem.
Dikbaş expressed a continuous desire to elevate their goals each year, citing the responsibility bestowed upon them by winning the title of the world's best incubation center.
"We want to raise the goal a little higher every year. Just as winning the award for the world's best incubation center at ITÜ ARI Teknokent raises the bar in the entrepreneurial ecosystem, it also brings us significant responsibilities. This year, we witnessed the excitement of startups at the Big Bang Startup Challenge finals. Investors, as always, showed great interest in the finals, joining our entrepreneurs in their excitement with awards and investments," he said.
Dikbaş, announced that they have invested $20,000 in Newky, $20,000 in Soundbank and $25,000 in Wyseye.
The event also saw the Automotive Exporters' Association (OIB) announcing an award of TL 1 million to be shared among five startups.
These startups, namely Newky, Wyseye, Sutech, ZGN Otonom, and Powea, each received TL 200,000 in recognition of their projects contributing to the industry.
Energy-oriented startups also seized the spotlight at the Big Bang Startup Challenge finals.
Türkiye's Energy Market Regulatory Authority (EPDK) and Elder contributed a 1 TL million award, shared among four ventures. Captanomy, Powea, Regenas and Rumitech each received TL 250,000, highlighting the diverse range of sectors benefiting from the event.
AI-powered ventures continue to ‘boost the future’
In an ongoing commitment to support entrepreneurs in the early stages, the venture ecosystem is abuzz with startup acceleration programs.
The fifth edition of the "Boost The Future" venture acceleration program, organized in collaboration between Endeavor Türkiye and Akbank, has successfully concluded. During the Demo Day held at Sabancı Center, startups, having received intensive mentoring and training support over three months, presented their ventures to investors and prominent figures in the entrepreneurial ecosystem.
Hande Çilingir, the founder and CEO of Endeavor Initiative Insider, also took the stage with a special speech at the event.
This year's program showcased 12 entrepreneurs from diverse sectors such as financial technologies, gaming and retail, who garnered attention with their artificial intelligence-supported solutions. Among the ventures selected for the "Boost The Future" program and featured on Demo Day were Defy, ELYT, Finsmart, Guul Games, Jobtogo, Octobus, PvX, Ruuf, Selfprof, Shipicons, UrClimate and Waste Long.
Collaborating with experienced mentors from Akbank Lab and Endeavor, entrepreneurs refined their business ideas and received support to expand internationally.
Driving employment
Addressing the ceremony, Burcu Civelek Yüce, deputy general manager in charge of Personal Banking and Digital Solutions at Akbank and a board member of Endeavor Türkiye, said they believe that entrepreneurship is crucial in developing economies and creating value and employment.
"After an intense three-month process, we highlighted the progress of our ventures in scaling, growing and expanding internationally at our Demo Day event. Our entrepreneurs, meeting with leading investors in our country, stood out with their comprehensive value-creation potential. We are pleased with the value we have created," said Yüce.
"With our experienced mentor network, successful acceleration program and innovative opportunities, we will continue to empower the future."
Türkiye’s future
Emre Kurttepeli, chair of the board of Endeavor Türkiye, expressed the organization's mission to be the global platform for pioneering entrepreneurs leading Türkiye into the future.
"As an international entity operating in nearly 40 markets, over the past 16 years, we have stood side by side with all the initiatives that have become the most recognized in Türkiye today and serve as role models in the ecosystem. In short, we support visionary entrepreneurs in realizing their dreams. From the very beginning, we not only support them in their current positions but also those who intend to change the world, fearlessly continuing their journey," said Kurttepeli.
He said these entrepreneurs and companies, who mentor and invest in the new generation of entrepreneurs, contribute to the growth of the ecosystem and create a "multiplier effect," playing a significant role in shaping the course of countries and the world.
"With Boost the Future, our aim is to identify these companies early and find the future Endeavor Entrepreneurs. We are delighted to have had the opportunity to collaborate with Akbank for five years in developing the entrepreneurial ecosystem through Boost the Future," he noted.
Reflecting on the five years of collaboration in developing the entrepreneurial ecosystem, Kurttepeli thanked the Akbank team and wished success to the program graduates in their entrepreneurial journeys.
Pilot: Road map for successful ventures
One of Türkiye’s leading telecommunications and technology companies Türk Telekom’s Pilot, one of the oldest acceleration programs in the startup ecosystem, boasts over a decade of experience.
The program offers collaboration opportunities with Türk Telekom, investment possibilities from its venture capital arm, TT Ventures, cash support, training, mentoring, business connections, investor access, office space, technological infrastructure and promotional support.
Over the course of the 12-week program, teams develop a validated business model based on Minimum Viable Product (MVP). Teams that successfully complete the program present their developed MVP and business model at the Demo Day event, attended by pioneering investors. Among the successful teams at the end of the program, selected ones are invited to the American program.
Pilot stands out as the first acceleration program conducted within a private company in Türkiye. Startups benefit from Türk Telekom's expertise, gain access to business connections, and seize the opportunity to collaborate with the company. Additionally, teams enjoy the privilege of investment from TT Ventures.
Boğaziçi Ventures announces new gaming investment
A pioneering Turkish venture capital fund, Boğaziçi Ventures, has announced another investment in the gaming industry before the end of 2023.
The fund has included Last Bite Games, known for its creativity and original designs, in the BV Growth Fund portfolio. Boğaziçi Ventures' investments in gaming companies have now reached 28.
The fund has been embracing an innovative approach to game development and strengthening its presence in the industry.
Burak Balık, managing partner at Boğaziçi Ventures, indicated the expansion of their portfolio with the new investment.
"We have numerous investments in the gaming ecosystem. With Last Bite Games, we are embarking on a new experience and mission. With this investment, we aim to support Last Bite Games in making a name for itself in the gaming development sector with sustainable growth and innovative projects within the Turkish Indie developer ecosystem, which we strongly believe in," said Balık.
"We reaffirm our commitment to taking a leading role in the evolution of the Turkish gaming sector by encouraging innovative thinking and creativity through this investment."
SabancıDx, Microsoft join forces for advanced cloud tech
SabancıDx and Microsoft have entered into a strategic collaboration agreement in the field of cloud technologies.
Aimed at contributing to Türkiye’s strength in cloud technologies, SabancıDx and Microsoft will provide hybrid cloud solutions that cater to both local and global needs. Additionally, the two companies will establish a solution center, bringing together hybrid cloud and artificial intelligence capabilities with the local ecosystem, marking a pioneering initiative.
The collaboration will enable SabancıDx, one of Türkiye’s leading technology companies, to promote its AI-supported hybrid cloud infrastructure services.
Through the partnership, customers of both companies will also experience the advantages of Microsoft's Azure cloud solutions on a global and local scale.