24/7 working startup center
Global startup economy reached a size of $3 trillion. Turkey aims to generate a minimum of 10 Turcorns by 2023 and achieve an over $1 billion worth startup in the country. The ecosystem that will render Turkey more potent in this competition has been strengthening rapidly.
Commercialization Center of Istanbul (BTM) immediately became a prominent center for Turkey's startup ecosystem. Forming 300 startups yearly, BTM has been working non-stop to contribute to the strategy of '10 Turcorns in 2023' by establishing at least 1 Turcorn.
FOUNDED by the Istanbul Chamber of Commerce to support new generation entrepreneurship, the Commercialization Center of Istanbul (BTM) has been preparing the startups for the future at its new, 3 thousand square meter' premises in Fulya. Within the scope of the strategy identified for the year 2023, Turkey aims to generate 10 Turcorns (Turkish Unicorns valued over $1 billion). BTM wishes to support this goal by establishing at least 1 Turcorn by 2023.
40 DIVERSE SECTORS
BTM is a fully equipped startup center that offers all components essential to realizing the entrepreneurs' projects with innovative ideas. Starting its journey in 2017 with 30 startups and nearly 100 entrepreneurs, BTM grew tenfold in a short while and graduated over 1000 startups. The center hosted 300 startups and approximately 1000 entrepreneurs in the first period of 2020. For the upcoming period, BTM is getting prepared to welcome 400 startups and nearly 750 entrepreneurs. Startups from BTM received over TRY90 million investments so far and achieved sales of over TRY55 million. BTM has supported innovative business development ideas of 40 different sectors ranging from smart agriculture to artificial intelligence, from e-commerce to healthcare.
Entrepreneurs' online application launches the initial step towards acceptance to BTM via the link www.btm.istanbul. As a result of the BTM Team's preliminary evaluation, the entrepreneurs are then invited to interview. Entrepreneurs who passed the interview stage successfully make presentations on their projects before the assessment board composed of the assembly and committee members of the Istanbul Chamber of Commerce. Upon board's grading, in line with their points and the quota identified, they are accepted to the center.
4 DIFFERENT PROGRAMS
BTM has been serving the entrepreneurs through the BTM Camp, Pre-Incubation, Incubation, and Post-Incubation programs. The potential entrepreneurs with innovative business ideas who wish to take part in the ecosystem as entrepreneurs are eligible for the BTM Camp. The Pre-Incubation Program, on the other hand, accepts entrepreneurs with innovative business ideas and related products or outputs (i.e., software, websites, etc.). The Incubation Program welcomes the company owners and entrepreneurs who have already founded their company and achieved sales. Finally, the Post-Incubation Program hosts entrepreneurs who have received investments and are seeking a new funding series.
PEAK GAMES HAS BEEN THE FIRST TURCORN
US-based social gaming company Zynga acquired Peak Games - Turkey's mobile gaming app Peak Games for $1.8 billion. In this way, Peak Games became the first Turkish company to be qualified as a 'unicorn' used for startup companies valued at over $1 billion. Peak Games will continue to pursue its operations under its brand and without any alterations in its team or management. Established by Sidar Şahin, who had previously made his mark on popular online platforms such as Izlesene.com and Trendyol.com, has also been a role model for other startups.
ACTIVITIES OF BTM
Commercialization Center of Istanbul is the first startup center established by a chamber of commerce in the world. The following activities are being conducted at the center: Services such as training, online courses, and seminars, mentorship, investor meetups, Demo Day events where entrepreneurs make presentations to investors, 24/7 office space, one-to-one consulting are provided to the entrepreneurs, free of charge.
As an affiliate of the ICOC, with 81 professional committees and over 440 thousand members is the world's third-largest chamber of commerce, BTM has a network of investors. The entrepreneurs within the body of BTM are entitled to make presentations to their projects to the relevant committees of ICOC's 81 professional committees. The 55 startups and over 500 sector mentors under the auspices of BTM support the entrepreneurs.
Entrepreneurs who completed the camp programs of BTM, take the stage on the BTM Stage-XL (Demo Day) and introduce their business models and financial plans to the investors. Following the BTM Stage-XL, the match-up of entrepreneurs and investors start.
In addition to the existing programs, BTM features thematic programs such as the 'Inventor-Entrepreneur Program' and the 'WinGlobal' that enable the entrepreneurs to compete in the global arena assertively their innovative business ideas and knockout business models. Furthermore, BTM takes part as an executor as part of the programs on the entrepreneurship ecosystem in many countries with the projects it conducts jointly with local and international organizations.
THE TARGET OF 1000 INVESTORS 10 THOUSAND ENTREPRENEURS
BTM has been executing critical projects not only for the entrepreneurs in the ecosystem but also for the investors through its 'Investor Club Program.' The Investor Club Program includes training, discussions, and workshops. The startup ecosystem's prominent figures provide training on startups, venture capital companies, and angel investors. Investor Club had ten graduates in the first period and now aims to achieve 50 graduates in the second one. Revealing their objectives of the upcoming period regarding the entrepreneurs and investors, Şekib Avdagiç, President of ICOC, "In these times where the business in traditional sense heads towards digitization, we aim to achieve 1000 investors and 10 thousand entrepreneurs by 2022."
AWARDS CERTIFYING BTMS SUCCESS
BTM's success is official with the awards granted to the center. In 2019, BTM was deemed worthy of the Imagine Tomorrow's Award for the Startup Accelerator of the Year and won the 1st Prize within the Entrepreneurship Category of The Union of Chambers and Commodity Exchanges of Turkey's (TOBB) Project Competition. BTM became a finalist as part of the ICC International Chamber of Commerce's Competition on The Best SME and Entrepreneurship Development Project Category and won Innovation Accelerator Organization of the Year Award in Medipol HR Awards. These awards are regarded as a signal of BTM's new achievements. Along with these awards, by the UBI Global that builds the index of global entrepreneurship centers in over 70 countries, among over 700 entrepreneurship centers, BTM received the prize of 'World's Most Promising Entrepreneurship Center' in the World Incubation Summit held in Doha.