Workup Graduate Startups Acquire $ 7.2 Million Investments
The Workup Entrepreneurship program, mainly supported by Turkish private lender Işbank, selected its eighth quarter graduates.
Seven startups were deemed successful enough to graduate from the Acceleration Program, including The Academys, Beklemesen, Ecording, Efilli, Finfree, Livad and Retter Business Services, all of whom shared their business models and roadmaps during the day. this week’s demo.
Ongoing since 2017, the Workup Entrepreneurship program has received a total of 13,000 applications to date, including 600 for the eighth term.
A total of 81 startups have so far been deemed successful enough to graduate from the program, which has accepted some 107 startups to date.
Some 59 graduate companies are still active and continue their entrepreneurial journey. A total of 30 different startups included in the program have so far received a total of $ 7.2 million (TL 64.26 million) in investment.
The key to growth
Addressing the Demo Day, held online, Isbank Managing Director Hakan Aran said that there is a serious positive correlation between the employment created by startups with their growth and the growth of the country.
“Thus, the country’s growth is supported by supporting entrepreneurs,” noted Aran.
Aran pointed out some turning points in shaping the entrepreneurial journey of the lender.
These include their Maxis Innovative Venture Capital Investment Fund, which provides capital support to promising start-ups, the API portal for startups as well as Softtech Ventures, which sets up new businesses based on innovative ideas.
He also noted the bank’s acquisition of fintech startup Moka Ödeme last year to diversify payment systems. Aran further highlighted the marketing platform they established to transform their e-commerce skills into a new ecosystem.
Aran announced the launch this year of an entrepreneurship branch to provide financial support to startups. Unlike a classic bank branch with a unique design and a personalized service model, the branch will only serve startups and the entrepreneurial ecosystem.
“As part of our vision to become a platform combining agriculture, finance and technology, we have also launched the WorkupAgri agricultural entrepreneurship program under the umbrella of Workup to support only agriculture-focused technology initiatives and strengthen agriculture in our country with sustainable solutions. », Declared the general manager.
In addition, he noted that they are partnering with one of the main ecosystem stakeholders, the Vehbi Koç Foundation and the University of Koç, to implement a powerful new platform to further support the entrepreneurs with the aim of focusing on sustainability and impact investing.
Investment in 5 startups
The investment fund Maxis Innovative Venture Capital has so far invested $ 3.13 million in five startups, according to Aran, as well as an investment of TL 1.9 million ($ 212,858) in Mindside, a graduate of the sixth term for Workup, in January this year and PCI Checklist, a portfolio company that also graduated from the Accelerate Program, in July.
“We believe that entrepreneurship is not just a structure of thought specific to the founders of startups. In this context, we launched our In-House Entrepreneurship Program to strengthen the skills of our bank employees to act as entrepreneurs and promote the emergence of innovative business ideas, ”he underlined.
“We plan to implement some of the valuable ideas conveyed by our employees as part of the internal entrepreneurship program so that they are self-sufficient in the bank’s product line or outside before the end of the year. This year.”
**** Box 1 ****
The 7 graduates of the eighth term of Workup
Below are the characteristics of the seven startups that graduated from the eighth quarter of the Workup Entrepreneurship Program.
The Academies: An initiative that offers training in many fields to those who wish to pursue a career in the esports industry and offers e-sport integration of brands with tournaments and events.
Beklemesen: A marketplace platform that saves time by allowing customers to create and pay for their orders at self-service coffee vendors upstream before arriving and taking their deliveries.
Registration : A social enterprise that develops sustainable and innovative environmental technologies against the global climate crisis by using self-developed unmanned aerial vehicles (UAVs) to shoot seed balls in areas that need to be reforested but are in difficult areas access.
Efilli: A cookie management platform that allows users to easily collect permissions regarding cookies used by websites.
Free end: A next-generation mobile investment platform rich in education, basic analysis and portfolio monitoring tools that aims to enable investors to invest in stocks traded on Turkish and US stock exchanges with experience simple investment.
Livad: A startup that aims to enable publishers to regularly convert their content into money and enable brands to effectively reach their customers thanks to the live advertising technologies it has developed.
Retter Business Services: A service platform that delivers out-of-the-box, cloud-based business models to enterprises serving the end user.