ITU GATE | International Startup Acceleration Program
Keywords: incubations, knowledge sharing, marketing, startups
Launch date:
01 August 2014
Describe your solution in 50 words or less
Being ITU ARI Teknokents International Startup Acceleration Program, ITU GATE is an international accelerator program for Turkish technology based startups to make them think global rocket their business. The startups are given training, mentorship, customer and investor networking and office services in San Francisco and Chicago to access to international market.
What is the purpose of your solution
ITU GATE was started in 2014 to empower ITU and startup companies supported by ITU ARI Teknokent to access global markets and gain success. ITU GATE was designed to reinforce the entrepreneurship ecosystem in Turkey and to create projects that will add value to the Turkish economy. ITU GATE aims to provide a tailor-made support process to entrepreneurial companies in order to enable them to grow much faster within their potentials. The process is aimed at developing market appropriate business models which will ensure that the innovative projects of technology companies are commercialized in the right way. The program is a step towards enabling entrepreneurial businesses to reach international markets, helping them to gain presence in the global economy. Program offers a 6-week consultancy and mentorship support in Turkey to entrepreneurial companies that wish to be a part of international networks, and provides the following to help them greatly increase their chances of success in international markets and become global brands: - Business Model Development and Evaluation, - Market Research and Analysis, Strategy and Competitive Analysis, - Basic Financial Accounting and Financial Modeling, - Lean Entrepreneurship, - Microeconomics and Pricing trainings. Mentorships subject are Go-to-Market Strategy , Costumer Experience Design, Business Model and International Marketing. During the first leg of the program in Turkey, entrepreneurs are expected to gain the basic capabilities for international business development and investor attraction. The six-week Turkish leg consists of a Mini MBA training in the first week followed by one-on-one and group discussions with participants on building their business models. Training subjects include Business Model Development and Assessment, Market Survey and Analysis, Strategy and Competition Analysis, Basic Financial Accounting and Financial Modeling. The training will be followed by a pitch, where 9 successful companies will be chosen for advancing to the international marketing activity. The four-week program in the US aims to help entrepreneurs build their business and receive investment. The eight winners of the pitch contest will be given offices in Chicago to help them conduct market surveys and contact prospective customers. The three-week Chicago program will be followed by a one-week program in San Francisco. Participants will make pitches in both cities and continue to market their businesses to potential investors and customers. ITU ARI Teknokent Chicago office is located in 1871 which is ranks 1st in University-Affiliated Business Incubators In North America. San Francisco office is located in Galvanize provides the opportunity to learn, connect and develop SME firms in Bay Area. During the USA part, the firms get mentoring and consultancy services from strategic partners of ITU GATE Program. Turkey, a hub of entrepreneurship and innovation at the intersection of Europe and Asia, has developed a vibrant domestic startup community with deep ties to the North American investment community. ITU GATE aims to be the enabler to make the startups the jump before the Silicon Valley.
What is innovative about it
- Pioneer: ITU GATE is the only program conducted by a technology park in Turkey which provides international business development support for startups in abroad. - Experience: ITU ARI Teknokent has the experience of incubating and accelerating startups. ITU SEED Program (TÜ Çekirdek in Turkish) which is initiated by ITU ARI Teknokent in 2011, is an incubation center for early stage startups. In 5 years, ITU SEED received nearly 8000 applications and 50 successful startups are founded so far.In 2015, ITU Seed ranked as the 8th in Europe and 18th in worldwide category by UBI GLOBAL. Therefore gained a cumulative experience about needs of entrepreneurs and train them. - Fee: ITU GATE is a free of charge program for participant startups. - Continuous development: ITU GATE focuses on the needs and demands of the participants. We continuously improve the program according to feedbacks from ITU GATE companies.
What impact has your solution had
Since 2014, ITU GATE has been conducted 3 times by ITU ARI Teknokent. In total, 62 technology based SME companies attended the international business plan trainings in stanbul. 27 selected companies are taken to USA part of the program, without paying any charge. During 3 cohorts, ITU GATE firms met with the 603 customers, 64 investors, and 24 partners. ITU GATE companies have had opportunities to make business meetings with global firms like Apple, Google, Guess and joined international exhibitions thanks to ITU GATE network. After the 3rd program in January 2016, one of the ITU GATE firms Monument selected for Kickstarter program and raised $703,818. Monument became the most funded Turkish startup by Kickstarter up to now. The startups spend three weeks in Chicago at the co-working space 1871, followed by a week in San Francisco. In USA, 2 Demo Days are organized by ITU ARI Teknokent in Chicago and San Francisco. GATE firms have a chance to present their products to audience from entrepreneurship ecosystem of the region. Generally, more than 100 participants and 20 investors during ITU GATE Demo Days are hosted in Chicago and San Francisco Demo Days. Publicity and marketing activities for the firms is conducted by ITU ARI Teknokent as well. In the 3rd GATE program, the Demo Days was announced via the banners in New York Times Squares. ITU GATEs last press release reached 233 websites and 89,205,376 audiences in San Francisco.
Who are the main users
Technology based companies from Turkey that have completed the R&D, launched at least the beta version of the product with the sale score and have potential to be global are the main beneficiaries of the program. The companies from technology parks in Turkey are given the privilege during the selection.
Who runs it
Istanbul Technical University Science and Technology Park, ITU ARI Teknokent is the owner of the program. ITU GATEs is organized and managed by Business Development Department of ITU ARI Teknokent. Also the strategic partners, trainers and mentors are responsible for the development of ITU GATE. www.itugate.com
For more solutions from IASP member Ari Teknokent - Istanbul Technical University´s Technopark click here