The eighth term of Lonca Entrepreneurship Center, which Kuveyt Türk established to support innovative ideas and to bring them to the country's economy, was completed. The number of startups supported by Lonca, which had 7 startups graduated after successfully completing the program after being selected from hundreds of applications in the current term, has increased to 80.
Lonca Entrepreneurship Center, which enables entrepreneurs with technology-oriented and scalable business ideas to transform their project ideas into a commercial activity with a sustainable model, completed the eighth period with a demoday event. At Lonca Demoday event held on June 21, 2023 at Lonca Entrepreneurship Center, startups were presented to investors. At the event, which was attended by managers and employees of Kuveyt Türk and its affiliated companies, investment groups, mentors and representatives from angel investment networks, entrepreneurs told the participants about their adventures to success.
Cash grant support increased to TRY 125 thousand
Lonca Entrepreneurship Center, which cares about startups' focus on project ideas, provided cash grant support of up to TRY 80 thousand to each startup and additional TRY 20 thousand R & D support to startups developing devices during the program. With the ninth term, Lonca increased its cash grant support per startup to TRY 125 thousand in total. Within the scope of Lonca's eighth term acceleration program, entrepreneurs were given participation in national and international competitions, USD 10 thousand virtual server, mentorship and consultancy from experts in the field, and marketing and promotional support. In addition, entrepreneurs who graduate from Lonca will have priority in applying to Lonca Venture Capital Investment Fund, which was established by KT Portfolio for the purpose of investing in startups and have an allocation of TRY 75 TL by Kuveyt Türk.
“To this date, we have provided TRY 3 million in cash grant supports to startups ”
In his speech at Demoday event, Kuveyt Türk Strategy and Innovation Group Manager and Lonca Management Committee Member Dr. Selman Ortaköy stated "Since our establishment in 2017, we have provided TRY 3 million in cash grant support to our startups. With the eighth term, we increased our support to startups by increasing the grant rate and offering investment opportunities. Lonca Venture Capital Investment Fund under the management of KT Portfolio, which has an allocation of TRY 75 million by Kuveyt Türk, continues to invest in all entrepreneurs in the ecosystem, especially Lonca graduates. On the other hand, we offer many privileges to our entrepreneurs who develop devices, such as R&D support and the use of our API infrastructure, especially for FinTechs. Project development opportunity together with Kuveyt Türk is among the other privileges we offer to our entrepreneurs. Among the startups graduating from Lonca Entrepreneurship Center, we design applications that we think will be beneficial to our country, economy and customers and include them in our business processes. By bringing the products and services of some startups together with our customers, we benefit both parties; we become a bridge for our startups to reach their potential customers and we increase our service diversity for our customers. We believe that these activities in the field of entrepreneurship are one of the most important investments made to our country and our future. On this occasion, I wish success to our startups that have successfully completed the eighth term and graduated.”
startups that successfully completed the eighth term of Lonca Entrepreneurship Center's incubation program and their fields of activities:
It is an enterprise that produces affordable, healthy and environmentally-friendly building facade thermal insulation material through recycling from textile waste.
It is an enterprise that produces sustainable postbiotic plant growth products that are inspired by the ecological cycle and revitalize infertile soils in order to safely farm in the future.
It is a mobile application with artificial intelligence and deep learning integration that enables people traveling on the same route, with and without intermediaries to reach together.
It is a cloud-based omni-channel customer communication and automation platform designed for businesses that enables businesses to easily manage customer messages, comments and customer questions from marketplaces on all popular channels such as LiveChat, WhatsApp, Instagram, Facebook, Telegram, Twitter, SMS and even e-mail from a single screen.
A technology company that develops electric driverless delivery robots for indoor and outdoor use. With its advanced autonomous driving algorithm and functional design, it offers solutions for medium and last mile delivery processes.
It is a platform where talent hunters meet with companies that want to add the best talents to their team and offer the most suitable candidates for the position and company culture.
It is an enterprise that aims to reduce labor/labor costs, increase the speed of production/logistics activities and increase occupational safety by digitizing the stock, production, assembly and distribution processes carried out in the field of industry and logistics with smart systems without eliminating manpower.