Keywords: funding, incubation, startups

Yeni Fikirler Yeni Isler (YFYI) Acceleration Program provides comprehensive training and mentorship to entrepreneurs in three stages: the idea validation; commercialization, and expanding to international markets. Another opportunity is that participant entrepreneurs receive investment from wide spectrum investor network of YFYI.

3 set of problems are solved a) Entrepreneur candidates cannot validate their business ideas. b) Startups are stuck at commercialization level c) Experienced startups in their respective industries cannot reach know-how facilitators for internationalization What YFYI provides as solutions respectively? a) T-IDEA: Support new innovative technological ideas to form new enterprises through training and mentoring, and helping first time entrepreneurs to validate the problem-solution fit. Moreover, the program provides access to the government grants reaching 150.000 TL per person (~52.000 USD) with its subprogram, T-BIGG, implemented in coordination with TUBITAK (The Scientific and Technological Research Council of Turkey). Through T-BIGG, entrepreneurs are trained intensively to write successful business plans based on a working lean business model. b) T-START: Support and accelerate the process of commercialization of young tech companies by helping them blending different perspectives with their products to achieve the product-market fit. This program focuses on growth of teams and accelerates the commercialization process. c) T-BOOST: Accelerate the internationalization of tech companies and scale the validated business model in new markets by helping them to validate and test the growth model. Consequently, the program aims to increase the export of technology based products. YFYI entrepreneurs always have a seat and support in ODTU TEKNOKENTs incubation centers both in Turkey and in USA, San Francisco, called T-Jump. Entrepreneurs regularly and frequently meet with angels and VCs in our wide spectrum investor network to get mentorship and the much needed capital support in each stage of their progress.

Since 2005, YFYI continuously changed and evolved from an entrepreneurship competition to a comprehensive integrated unique acceleration program according to demands in entrepreneurship ecosystem.YFYI brought together support for different stages of entrepreneurship in Turkey. Supporting entrepreneurs from point zero to international success,YFYI also shifted the ecosystem in Turkey and inspired other technology parks, incubation center,universities in Turkey, to conduct similar programs while increasing the resources and opportunities for technology based entrepreneurship. Based on the experience at YFYI,we made important recommendations and contributions to relevant government institutions, as a result of which various policies to facilitate and encourage technology based entrepreneurship has been shaped, as well as many resources for capital support. YFYI has direct innovative effect on entrepreneurs such as, - Relationship building with VCs starting from the first day of the program. - One-year free office space for alumni in incubation centers both in Turkey and USA, San Francisco. - Patent application support free of charge through our Technology Transfer Office. - Team building support for candidate entrepreneurs with matchmaking platform&events. - Seed capital funding starting from $20.000 to $250.000 to close the gap for founder friendly acceleration program in terms of venture capital offered to startups in Turkey.

Since 2005 important impact of YFYI is mentioned below - 6500+ applications - Each application period, about 10 teams are accepted to the program in each category. - 44 teams got seed fund directly from the program with a total of $1.5M. - YFY supported the establishment of 200+ technology based companies through its 11 year. 64 of them directly supported by YFY. Those companies provide employment opportunity to 500+ people. - 57 of them received capital support from government institutions approximate value of 11.000.000 TL (~$2M). - Through our support in various areas 50% survival rate in Death Valley period accelerates to 80% among YFYI alumni. - 110+ patent application - 207 meetings were arranged between YFYI teams and investors - 20+ teams were funded by the investors and the total amount of investment exceed $60M. - %40+ YFYI companies expanded abroad. - YFYI is proud of having promising companies exceeding $20M valuation: Onedio, exceeding $22M, Infodif: $20M, Mobilus: $3M, VLMedia: $20M, Bama: $20M, Go Energy: $30M valuation. As Turkeys first entrepreneurship support program and accelerator, YFYI gives inspiration to other accelerators and incubators. In this respect, YFYI is a pioneer of the entrepreneurship ecosystem in Turkey. Not only a pioneer, but also a collaborator, YFYI engaged in various partnerships with other technology parks and institutions throughout the year. In addition to those impacts, YFYI proves its success with the capital support of its 50+ and counting sponsors and run the program around $5M capital budget. Besides, we established collaborations with global companies like Intel, Microsoft, General Electric(GE) etc., which supported YFYI both with financial and nonfinancial resource.

YFYI acceleration program reaches entrepreneurs with different stages during their startup journey. - T-IDEA: Undergraduate, graduate and PhD students and new graduates, having innovative technology based ideas. - T-START: Tech companies struggling to commercialize and aged between 0-3. - T-BOOST: Tech companies having products ready for the international market.

Turkeys oldest and most successful accelerator program, YFYI, is organized by ODTU TEKNOKENT Entrepreneurship Directorate. ODTU TEKNOKENT is the first and most advanced technology park of Turkey, active since 90s. It strategically encourages technopreneurship, facilitates university-industry convergence, supports B2B interactions with its clusters and increases the internationalization of local portfolio.