Established by Kuveyt Türk in order to contribute technology-focused and scalable business ideas to Turkey's economy, Lonca Entrepreneurship Center graduated its second term entrepreneurs. In this center where nine entrepreneurial teams have been provided with the opportunity to benefit from privileges such as training and mentoring as well as incubation service, grants and R&D support for six months, different projects ranging from business development training for children and youth to SME support programs were sponsored and developed.
Realized by Turkey's leading participation bank, Kuveyt Türk, to enhance Turkey's economy by supporting and developing new ideas, Lonca Entrepreneurship Center graduated its second term entrepreneurs. The graduation ceremony was held at Workinton Levent 199 office, with which Lonca has been cooperating since its establishment and that has been providing entrepreneurs with work space in various cities of Turkey. İrfan Yılmaz, the Assistant General Manager of Banking Services Group of Kuveyt Türk , Mücahit Gündebahar, the Information Technologies Group Manager of Kuveyt Türk, Workinton managers, graduated entrepreneurs, Kuveyt Türk's business partners, numerous guests and press members have attended the ceremony.
"Interest in software, technology and FinTech is rising"
In his opening speech, İrfan Yılmaz, the Assistant General Manager of Banking Services Group of Kuveyt Türk, said that they have realized Lonca Entrepreneurship Center in order to share their knowledge, know-how and experiences with the entrepreneurs in the fields of software, technology and FinTech. Pointing out that especially the early-stage entrepreneurs have lots of needs such as training, mentoring, networking and work area, İrfan Yılmaz said "We accept applications to Lonca Entrepreneurship Center in two separate categories: General and FinTech. Entrepreneurs with projects in many different fields such as software, information security, robotics, big data, virtual reality, augmented reality and game development can apply for the general category. And for the FinTech category, we consider projects developed on financial technologies such as payment systems, blockchain, digital wallets and API banking. We received hundreds of applications for both terms. We are happy to witness such a great interest in the subjects that shape many areas ranging from economic growth to communal and social development."
"We continue our efforts to increase our Teknogirişim (Techno-venture) fund"
Pointing out that when they decided to establish Lonca Entrepreneurship Center, they added "investment" to the support they offer, Yılmaz said "In the management of KT Asset Management Inc. (KT Portföy Yönetimi A.Ş.), a subsidiary of Kuveyt Türk, we launched a fund called Teknogirişim Venture Capital Investment Funds. Being a Lonca entrepreneur is not a precondition for applying for this fund, however we offer some advantages to Lonca entrepreneurs. Teknogirişim was established with a fund of 10 million TL. So far, we have decided to invest more than 6 million TL in more than 10 ventures we have been auditing. KT Asset Management Inc. continues to work so hard to increase the fund size. The increase in the fund will give rise both to the number of ventures to be supported and the amount of investment per venture."
Entrepreneurs in Lonca Entrepreneurship Center are offered education, project-based mentoring, multi-location incubation services, as well as many privileges such as grants, R&D support and API for FinTechs. After the training, the projects considered to be beneficial for the society, the industry and Kuveyt Türk customers are conceptualized in a project and included in the business processes of Kuveyt Türk. The entrepreneurs of some projects are brought together with SME or commercial customers of Kuveyt Türk.
9 out of 400 applications selected
More than 400 applications were made in the second term of Lonca Entrepreneurship Center. As of April 2018, nine entrepreneurial teams picked up by the jury have started receiving training and mentoring. Seven entrepreneurial teams can graduate in the second term since two of the 9 teams accepted into the Center decided to drop their projects during the process. The projects and fields of activity of the seven entrepreneurial teams graduated are as follows:
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