Keywords: funding, knowledge sharing, networking, startups
Launch date:
04 January 2015
Describe your solution in 50 words or less
T-Jump provides: - Co-working space of 40 desks in an open office that startups can work in as well as use as their office and legal address in the US, - Office space to use as soft landing opportunity for mature companies to test their business and expanding potential in the US market without any major cost risk in case they do not succeed, - Physical space and customizable programme support that institutions and agencies in Turkey can use to organise bootcamps for their entrepreneurship programmes USA part, - Network including entrepreneurs, institutions, investors, talents, advisors and mentors both in Turkey and the US that they can benefit from, - Investor matching programme for entrepreneurs via demo days organised in T-Jump to solve one of the biggest problems startups face, - Bootcamp for ODTÜ TEKNOKENTs entrepreneurs to prepare for worldwide famous incubation programmes like Y Combinator, - A cultural and technological bridge for Turkish startups and mature companies to understand and penetrate the US market, - Mentoring, advising and legal support system provided by experts for entrepreneurs in T-Jump and ODTÜ TEKNOKENT on business development and expanding to the US market, - Advising and legal support system provided by experts to companies in the US that want to explore market and benefit from R&D incentives in Turkey, - Physical space to organize regular entrepreneurship events in Silicon Valley, - Capacity development programmes for mentors, investors, and institution and technology park managements.
What is the purpose of your solution
The main purposes of T-Jump are: - Increase technology export of Turkey, - Provide an incubation center in the heart of San Francisco, USA, that will act as a platform for Turkish startups and mature companies to expand their services and products to the US market and eventually to a global market, get investment and become an internationally successful company, - Build a network of entrepreneurship ecosystem actors in the region to help Turkish companies with their business relations, - Introduce young technology entrepreneurs, including candidates, to the most active entrepreneurship ecosystem in the world, Silicon Valley, - Guide entrepreneurs in T-Jump as it is necessary according to their needs to expand to the US and grow their business respectfully, - Eliminate problems of startups resulting from lack of any proper business, legal and cultural mentoring and advising, - Provide an incubation center for Turkish universities to commercialize their R&D and get investment and funding, - Bring R&D departments of successful Turkish companies founded in USA to ODTÜ TEKNOKENT both for the financial benefits that Turkish technology parks provide and for technology sharing opportunities, - Increase the amount of reverse brain drain.
What is innovative about it
T-Jump is the first international incubation center in the US created by a technology park or institution from Turkey. Its integrated approach aims not only at startups, but also investors and institutions both in Turkey and the US, bringing the whole ecosystem of technology based entrepreneurship together under a single umbrella. T-Jump acts as a facilitator for investment, an event space, an incubation center, a training center as well as an office space that distinguish it from its competitors in San Francisco that can only act some of the roles mentioned.
What impact has your solution had
Currently 28 active entrepreneurs benefit from T-Jump co-working space. 5 entrepreneurs started initiatives to open offices in T-Jump and bring their sales and marketing departments to the US to reach global markets and grow. 6 USA based companies are working on to bring their R&D departments to ODTÜ TEKNOKENT in order to enjoy tax benefits. On February 2015, a bootcamp was organized in T-Jump for the entrepreneurship programme of ODTÜ TEKNOKENT and 8 companies participated. 1 of the mentioned companies is about to move all of its operations to the US via T-Jump. 2 companies established business relations with technology startups and universities in the US. 1 company is preparing to apply to Y Combinator incubation programme in September 2015. Participants generally benefited from bootcamp economically via solution partnership, direct sales, R&D cooperation in general. 5 entrepreneurship events were hosted so far, which brought all elements of the ecosystem together and created many networking opportunities. A governmental agency, Small and Medium Enterprises Development Organization of Turkey recently organized an event in T-Jump to attract companies established in the US to move their R&D departments to technology parks to Turkey. Its effects are expected to be observed clearly in the following weeks. Since T-Jump started its operations very recently, its full impact is yet to be seen. However, due to high interest from startups and mature companies in Turkey, it indeed promises high success rates.
Who are the main users
Entrepreneurs and companies of ODTÜ TEKNOKENT, Technology based startups in Turkey, Entrepreneur candidates who need to understand Silicon Valley and improve their vision, Investors in Turkey and the US, Institutions that have incubations centers and/or accelerator programmes in Turkey, Mentors, investors and managers of institutions, Successful Turkish companies in the US that want to expand to the global market and enjoy R&D incentives in Turkey.S46
Who runs it
ODTÜ TEKNOKENT LLC is the running company, registered in the US and acting as a branch office of ODTÜ TEKNOKENT in Turkey. In practice, ODTÜ TEKNOKENT Entrepreneurship Directorate designed the centers system and developed necessary means. Currently one of the programme managers of the directorate, who is experienced in entrepreneurs and related programme, is managing the daily and regular needs of the center onsite. An advising board composed of experienced entrepreneurs, investors, mentors and ODTÜ TEKNOKENTs senior management is soon to be established to advise on vision and next movements of the center.
For more solutions from IASP member ODTÜ Teknokent Yonetim A.S. click here