PNB TURKEY PRIORITY PROJECTS I. TURKEY 25 (TOBB) Turkey 25 is a project launched to identify the country s 25 fastest growing companies and promote them at home and abroad. The project is carried out under the leadership of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in partnership with the AllWorld Network, established by Harvard s renowned Business Administration professor Michael Porter, and the Economic Policy Research Foundation of Turkey (TEPAV), an Ankara-based think tank. Turkey 25 was inaugurated with a press meeting held on April 26, 2011 in Istanbul. The project was frequently featured in broadcast and print outlets. Possible participant companies were notified via social media, as well as professional organizations and the chambers of commodity exchanges. This ensured a large number of applicant companies across the country. To apply, companies filled out a form on the AllWorld Network website and submitted their application accompanied by their audited financial statements. AllWorld Network has carried out similar projects in a number of countries, with the main eligibility criterion being revenue growth. Turkey 25 companies were identified on the basis of revenue growth between 2008 and 2010. AllWorld staff used audited financial statements to verify self-reported revenue numbers in application forms. After the evaluation process, the 25 fastest-growing and qualified applicants were selected. The final list of 25 companies was announced on December 3, 2011 in Istanbul during Global Entrepreneurship Week. Awards to the listed companies were given by the Speaker of Parliament, Cemil Çiçek, the Minister of Economy, Zafer Çağlayan, Minister of Development, Cevdet Yılmaz, and M. Rifat Hisarcıklıoğlu, the president of TOBB. II. NETWORKING IN VENTURE CAPITALISTS & ANGEL INVESTORS (TOBB) Turkey has a blossoming private equity industry; but despite a potential of deal-flow, venture capital investments in early stage companies as well as angel investments is limited. TOBB has recently established TOBB Venture Capital Sectoral Assembly by bringing together private equity, venture capital and angel investors together in a platform for sharing sectoral knowledge and experience. At the first meeting of the Sectoral Assembly, the main issues of the sector have been identified, and the possibilities of the diversified Turkish economy for the VC industry have been discussed. At the second meeting, the primary targets and methods of the Assembly have been set and four working groups have been formed under the Assembly. The third meeting included a briefing
about the new GEP Turkey program, the studies of the Treasury on the angel investors and Josh Lerner s Turkey visit. The last meeting determined the priorities of each working group, and included exchange of information about the sectoral developments. TOBB is also currently in dialogue with the Government of Turkey for establishing a public fund of funds [1] that aims to bridge the gap between emerging potential technology entrepreneurs and financing of innovative enterprises. The public fund of funds aims to match private funds by investing up to half of VC funds that has at least one international partner. Lobbying activities continue for obtaining government support in order to attract VC funds to Turkey, including a presentation to the Deputy Prime Minister of Turkey, Mr. Ali Babacan. While the lobbying and legal framework efforts for the fund of funds are in process, it is essential to foster a network of Turkish and American venture capitalists and angel investors to assure that a number of fund and seed investment deals will be available for the fund of the funds. TOBB recently set up a panel From Silicon Valley to Istanbul: New Hubs for Venture Capital for the Presidential Summit on Entrepreneurship, which will be held on 3-6 December in Istanbul, with the participation of the U.S. Vice President, Joe Biden. This panel will bring together several Venture Capitalists and entrepreneurs from all around the world, allowing them to share their experiences with the Turkish Venture Capital Industry. Some of the panelists are Elizabeth Beezer Clarkson (DFJ), Arif Naqvi (Abraaj Capital), Teresa Barger (Cartica Capital), Faysal Sohail (CMEA Capital) and Dilawar Syed (Yonja Media Group). An insiders roundtable is also planned within the scope of this summit, to enable greater interaction between Turkish VC industry and the panelists. Moreover, the world-renowned expert on VC, Josh Lerner visited Turkey in June 2011. During his keynote speech he underlined the government s important role in listening to the market for facilitating the VC industry in a country. To further build and strengthen a network of Turkish and American venture capitalists and angel investors, this Project will include: Identification of venture capitalists, angel investors, and potential limited partners in the USA Delegation visits to Turkey and series of networking events with Turkish venture capitalists and angel investors Facilitation of panel sessions, business plan competition, and peer-to-peer exchanges Building pipeline to investment worthy entrepreneurs and fund projects. III. PROMOTING ENTREPRENEURSHIP AMONG YOUTH (TOBB&INTEL&YFH) This project aims to promote and strengthen technology supported entrepreneurship in both high schools and universities. It will provide students interested in entrepreneurship with: Technology Entrepreneurship trainings to encourage them to turn their ideas into business plans,
Professional feedback on their business plans through business plan competitions and interaction opportunities with other students with entrepreneurial spirit direct contact opportunities with successful entrepreneurs in US and Turkey Through their program which is supported by Ministry of development and UNDP, Intel and Youth For Habitat Association aims to build entrepreneurial capacity through education of high school and university students. 5.000 youngsters are planned to be reached by technology supported entrepreneurship training programs at the end of 2012. The youngsters are also encouraged to form networks of entrepreneurship clubs throughout Turkey with the support of TOBB Young Entrepreneurs Council and Youth For Habitat s (YFH) youth centers. Through entrepreneurship clubs, students will learn how to start a business, share-review ideas with other students, learn how to raise funds and gain the skills needed to be successful entrepreneurs. In the second half of 2011, nearly 100 Youth For Habitat Association volunteers from 20 provinces have been trained as master teachers in 5 sessions qualifying them to deliver Intel Learn Technology Entrepreneurship trainings. A workshop titled Innovate, Accelerate and Integrate Your Entrepreneurship Program was organized in September 2011 by Intel and UC Berkeley for university faculty and entrepreneurship program administrators to accelerate entrepreneurship in their institutions which was attended by 10 universities and 5 institutions. In October, around 110 province representatives of the National Youth Parliament gathered in Antalya and were provided entrepreneurship trainings by Intel and Youth For Habitat Association. Plans are also made to help create connections between American and Turkish universities through these clubs and organize university entrepreneurship summits. IV. SPARK FOR WOMEN (CISCO) The main goal of the project is to empower women by providing economic opportunity through IT education and skills. The project also aims to improve awareness on women s rights and roles in the society while encouraging volunteerism. SPARK (Youth Movement in Informatics) has been harnessing the energy of young volunteers throughout Turkey to develop ICT skills among their peers since 2006. Economically disadvantaged young people receive Cisco Networking Academy training, then transfer their skills to others. New graduates return as volunteer instructors, creating a sustainable cycle that continually expands the program. By the end of 2010, 150 volunteer instructors were teaching in 23 cities. More than 1600 young people have taken the Academy's IT Essentials course. SPARK is a partnership between Cisco, Youth for Habitat, Istanbul Technical University, and the United Nations Development Program. It received the European Union's e-inclusion award in 2008, and in 2010 volunteer instructors expanded the program to neighboring Azerbaijan. Within the scope of PNB, a focused version of SPARK initiative has been launched, named SPARK for Women. A group of 120 women are targeted as leaders in six cities around the country. The cities selected are İzmir, İstanbul, Ardahan, Adana, Denizli and Diyarbakır. The trainings begin in November
in İzmir and Istanbul followed by other cities throughout the year. After initial trainings, it is planned that these 120 women will train about 20 more women each, resulting in a community of about 2000 women around the country. The main educational elements include IT Essentials at an instructor level as well as soft skills and legal acknowledgement of women s rights. Furthermore Cisco employees will provide a series of webinars and seminars on IT and business life on a voluntary basis, to help prepare the participants to tackle the challenges of professional life. Communication tools of Cisco are planned be used for graduates of SPARK for Women within the country. This community can potentially be linked to other communities of Women in IT in United States of America as well as in other target countries of PNB at later stages. V. HERITAGE AS BRIDGE: ENRICHING EDUCATION, SUSTAINING DEVELOPMENT PROJECT Heritage as Bridge (HAB) Project identifies heritage sites (in this case as archeological site or parks, historical monuments or museums) as both economic catalysts for local sustainable development, and as ready springboards to an enriched mutual understanding of each other s culture and history. VI. THE WOMEN ENTREPRENEURS TRAINING AND GRANT PROGRAM (COCA-COLA) Under the umbrella of PNB Turkey, Coca-Cola Turkey, The Istanbul Chamber of Commerce (ITO) and The Union of Chambers and Commodity Exchanges of Turkey s (TOBB) Women s Entrepreneurship Board of İstanbul have developed a program to support women entrepreneurs living in the peripheries of Istanbul. The program focuses on increasing the self-confidence and organizational capacity of women with entrepreneurial potential. Research shows that when compared with their male counterparts women entrepreneurs in Turkey are able to balance their work and family life, skilled at multi-tasking and more successful in work planning work delegating. Despite these advantages, the percentage of women both participating in the workforce as well undertaking a business venture in our country is extremely low. A major part of those women who have obtained an opportunity in the entrepreneurial domain try to keep up their efforts in an environment deprived of the freedom to transform their traditional female roles and to make decisions and choices to use their income for their personal developments and investments. The Women Entrepreneurs Training and Grant Program is a grant program that aims to enable women s active participation in the business world and improve their economic welfare by increasing their self-confidence and contributing to their organizational capacity. The Program aims to change the traditional role of women in business life by equipping them with the vision to determine their new positions in the society.
The Program will provide personalized business development trainings and coaching, and selected participants will receive seed grants to start their own businesses. 60 women will begin the program's initial pilot, starting on December, 2011. After trainings, selected 3 women entrepreneurs will get 30.000 US Dollars each, total 90.000 US Dollars grant. Employees of Coca-Cola Turkey will provide ongoing mentoring and give advice and support to make their enterprise successful. İTO and TOBB Women s Entrepreneurship Board of İstanbul will contribute to the coordination among the program partners and managing the application, selection and contract procedures.