Business

Startups to get up to $100K support through PILOT program

In addition to financial support, startups that get accepted to the acceleration program PILOT will also be able to grab a chance to cooperate with Türk Telekom and receive a direct investment from its corporate venture capital arm TT Ventures

Turkey’s first and the most successful corporate-run startup accelerator of Türk Telekom is ramping up its support to the ecosystem in its 10th year with new projects.

PILOT will now proceed on its path under TT Ventures, the corporate venture capital arm of Türk Telekom, one of the country’s leading information and communication technologies companies.

The program has started receiving applications for its 10th semester with a brand new structure and enriched content.

Startups selected from the teams that get accepted to the program will be provided cash support worth around $100,000. Teams will also get an opportunity to cooperate with Türk Telekom and get direct investments from TT Ventures.

In addition,startups selected at the end of the program will also obtain the right to attend a program in the United States as well.

Entrepreneurial culture pioneer

Agile ventures are driving the global economy, says TT Ventures General Manager Muhammed Özhan.

“As TT Ventures, we are pioneering the development of an entrepreneurial culture that will take Turkey into the future,” Özhan said.

“We have been supporting technology initiatives since 2013 with the PILOT, Turkey’s first corporate-run startup acceleration program, with the aim of revealing the unicorns of our country that have the potential to carry their power and achievements in this field to the global arena.”

Özhan underscored they also invest in growth-stage startups through TT Ventures, the industry’s first corporate venture capital company, helping them realize their long-term business goals.

“We have changed the structure of PILOT in its 10th term and joined forces with TT Ventures. We aim to provide maximum benefits to the growth of startups by offering special privileges in investments we will make with TT Ventures to those selected from the ventures that get accepted to the PILOT.”

The focus will be on the development of the startups, which Özhan said will be provided with differentiated development and investment plans in accordance with their needs.

“We are ready to receive PILOT new term applications and we are looking forward to getting together with our new startups,” he noted.


Investment from TT Ventures

Throughout the program, teams will have access to TT Ventures’ extensive investor network, as well as an opportunity to hold one-on-one meetings with close to 100 mentors. In addition, they will also have the opportunity to access Türk Telekom’s business network.

The teams selected for the program will be able to develop their competencies by participating in various training provided by experts in their field, as well as the mentorships they receive during the process.

The teams that will have the opportunity to cooperate with Türk Telekom and receive investments from TT Ventures will also receive office space, technology infrastructure,mobile communication package and promotional support.

Participants from outside the city will be provided accommodation.

Türk Telekom will offer selected teams the right to participate in the U.S. program to scale the initiatives it supports with TT Ventures on a global level.

Around 91 startups have graduated from the PILOT so far. TT Ventures has invested in a total of nine ventures, of which five were PILOT graduates. Türk Telekom’s total cash support to startups within the scope of the acceleration program has exceeded TL 10 million.

Source
dailysabah

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