Ventures that will be supported by Etohum and that will receive investment from Etohum fund in 2011 were announced. It was announced that the 15 successful ventures were selected from amongst 2200 entrepreneurs and 1000 ventures that applied.

Etohum which plays an active role in invigorating the new economy by linking successful entrepreneurs with investors selected the 15 ventures in the new economy that might be invested in. Among the 15 ventures are Medra, Gamester, Betikus, Oyuncakdenizi, Gezara, Sinavo, we-decide.net, sepeteindir.com, pembepanjur.com, keyground, Gereko, Proje Shop, Smartnews, memlekettengelsin.com and uzmankirala.com. Founders of the 15 ventures will attend the 5 day Etohum camp that will take place at the Antalya Rixos Sungate Hotel in February.

The ventures that were announced during the Entrepreneurship Summit held at Bahçeşehir University with attendances by Index Group CEO Erol Bilecik, Logo BS CEO Tuğrul Tekbulut, Simitsarayı CEO Haluk Okutur, KOSGEB President Mustafa Kaplan and Berk D. Demir from StumbleUpon as speaker already started meeting with investors.

Etohum which was founded to increase the number of internet companies in Turkey, support entrepreneurs and establish a marketplace for entrepreneurs and investors so that an internet eco-system can be formed and supported, carried out a thorough study for the selection of the 15 internet entrepreneurs that will receive investments. In 2010 the number of internet entrepreneurs who applied to Etohum was 2.200 and a short list containing 40 people was selected after face-to-face interviews with 200 participants who were selected in the first round. The entrepreneurs in this short list made presentations to the Etohum fund founders during January.

The 15 entrepreneurs selected to be suitable for investment amongst these 40 ventures were selected by an investment committee including Yemeksepeti.com founders Nevzat Aydın and Melih Ödemiş, GittiGidiyor.com ortakları Burak Divanlıoğlu ve Serkan Borançılı, Cimri.com Founder Aydonat Atasever, Magnet founding partner Ersan Özer, Nokta.com founding partners Tümay Asena, Burçin Didinedin, Mynet Founder Emre Kurttepeli, Mackolik.com Kurucu Ortakları Erdem Yurdanur and Tarkan Onar, Reklamz founder Orkun Tekin, markafoni founding partner Sina Afra, Youth Republic founding partner Kerim Türe, investor Dr. Haluk Elçi, Yonja.com founder Kerim Baran, Ari Keşişoğlu who continues his career in the internet sector abroad and etohum.com founder Burak Büyükdemir.

Etohum which introduces new economy entrepreneurs with investors who can make investments in this field will also be investing new entrepreneurs with the 250.000 capital funding set up in 2011.

The 15 ventures selected for investment in 2011 are:

Medra: The company named Medra was founded Burak Oğuz, H. Özgür Batur and H. Kerem Cevahir, 3 friends who graduated from METU Computer and Electrics-Electronics Engineering departments and their first product MyDLP is an open source coded project allowing people and companies to protect their private information.

Gamester: The social game company named Gamester was founded by Volkan Taban, Onur Karcı and Turan Yiğitbaşı; their first product called Townster is a city planning and real estate game in which players may set up their own cities and get rents or buy buildings from the cities of their friends to become a real estate king.

Betikus: The first product of the venture Betikus which was founded by METU graduates Deniz Aslı Soykurum Çetin and Atılım Çetin is Gideros; a mobile game development application. By using Gideros game developers may write the code for a game once and release it in more than one platform at the same time.

Oyuncakdenizi: oyuncakdenizi.com founded by ITU Geology Engineering and ITU MBA alumnus Serkan Hondur is a site where you can buy toys from.

Gezara: gezara.com founded by Onur Sencer, Hüsnü Babayiğit and Dağhan Ekmekçioğlu is a location-based exploration application. This application is a tool aiming to meet the needs of people when they are outside and to ease their lives. This application helps you find places, activities and discounts in your vicinity and may show and guide you to places that are of interest to you in any category.

Sınavo: sınavo.com established by M. Murat Demir and Özgür Erten who graduated from Izmir University of Economics Computer Engineering department is developing a service that transforms solving problems on the internet into a game thus increasing students’ efficiencies by tracking their performances.

We-decide.net: We-decide.net founded by Berkeley alumnus Erdem Ovacık and Stanford alumnus Kutlu Kazancı enables users to create, purchase and sell ideas and develop them via a virtual idea market that will help corporations in their decision procedures.

Sepeteindir.com: sepeteindir.com founded by Kocaeli University graduate Kaan Veral is an e-commerce site which sells different products alongside a different discounted product for each day.

Pembepanjur.com: Pembepanjur.com founded by Haluk Akın and Seda Berber in 2010 is a service providing scientific matching to its service for “long term and serious relationships”.

Keyground: Keyground founded by Cem Evren Ateş and Can Ateş is a video platform that decreases broadcasting costs while enabling a fast and quality broadcasting opportunity for corporations in need of video broadcasting over the internet.

Gereko: Gereko.com founded by Ayşe Biçer, a METU 2010 Industrial Engineering alumna is an internet platform for everyday cases such as “I will move, I need a carrying company”, “I need a nanny for my baby”, “I need an organization company for my wedding” in which people and companies that give such services may sign up to communicate with you and give quotation for your needs.

Proje Shop: Proje Shop founded by Yıldız Technical University Computer Engineering graduate Yüksel Eminoğlu is developing software enabling B2C and B2B ready e-commerce infrastructures and online shops.

SmartNews: SmartNews founded by Çukurova University Industrial Engineering graduate Erdem Özkan is a system developed to enable users to reach news that are and will be popular in social media. An algorithm that mathematically models the social media presence of users in order to statistically predict which news will be popular forms the foundation of SmartNews.

Memlekettengelsin.com: Memlekettengelsin.com founded by three young entrepreneur partners Veysel Karakaya, Ali Can Akkaş and M. Emre Gül sells Turkey’s local tastes and products via the internet.

Uzmankirala.com: uzmankirala.com founded by 22 year old Murat Turan, currently a student at Bahçeşehir University Software Engineering department is an e-commerce platform that links expert freelancers with employers who wish to get work done on a project basis.

Other 25 projects

Kuponomi.com: Kuponomi.com founded by ITU Architecture graduate Sani Levi is the trading place of missed deals. It is a market place in which you can make use of deal coupons purchased from group deal sites that you cannot use any more.

Animalwars: AnimalWars founded by YTU Computer Engineering graduate İrfan Kaya and ITU Computer Engineering Department graduate Hüseyin Kuşçu is a multi-player role playing game (RPG) targeting mobile medium. Players may carry out different quests with animals that they raised; communicate, commerce and compete with each other online.

Petarkadas: Petarkadas.com founded by Umut Akyol and Şafak Akyol is a community site in which people can have a good time and find information regarding all pets (dogs, cats, birds, rodents, reptiles…), socialize and find homes for homeless pets.

Malzemem.com: Malzemem.com founded by Tuğberk Keselioğlu and Timur Tandoğar is an online store for construction materials that delivers over 10.000 products from sectors such as construction, lighting, electricity, hardware, pool, sauna, occupational safety etc. to anywhere in Turkey in 3 days.

Gayrimenkulübü.com: Gayrimenkul Kulübü founded by Gökhan Acar is a real estate investment club in which individuals who want to purchase estate may form organized groups to receive discounts of up to 30% from construction companies.

Gamezboy: Gamezboy founded by Uğur Tuncel is a mobile game company. It has developed 4 successful games Fetih, İstila, bu karayı al parayı and davul ve zurna that can be found in the Nokia Ovi Store.

Kucukoteller.com.tr: kucukoteller.com.tr founded by Bilkent University graduate İzim Bozada aims to give a service enabling specially discounted prices for boutique and small hotels and special travel preferences in Turkey.

e-eczadeposu.com: e-eczadeposu.com founded by Eskişehir Osmangazi University Electricity-Electronics Eng. Department graduate Ekrem Aksoy and İbrahim Aksoy is a new platform that will be active in the drug procurement system between about 120 prescription medicine distribution companies and 24000 pharmacies all over Turkey.

Terapi.com: terapi.com founded by Önder Eren and Hakan Tekinaslan is an online therapy portal that links psychologists, psychiatrists and coaches with people who are in need of these specialists.

Grupguru.com: Grupguru.com founded by Sabancı University graduate Sarp Centel and Bahçeşehir University graduate Sarp Erdağ makes it easy for you to follow the deals in your city. It collects all the deals valid for your city in one place and suggests deals that might interest you.

6q.net: 6q.net founded by Okan Yıldırım, Ramazan Akman and Mustafa Arslan is a company developing online games. The company that has focused on quiz shows, word, board and card games has over 10 games in its product portfolio.

Shoppio: Shoppio founded by Gökhan Beseb and Mehmet Umut Atasever is a technology venture aiming to start the first Social Market place application in Turkey. This application enables companies/individuals to sell their products or services via Facebook listing or online sales methods.

Goma: GOMA founded by ITU electronics faculty Ozan Dikerler and Övünç Dalkıran who is still a student at ITU Computer Engineering department is a web based mobile application development application.

Games’nGamers: Games’nGamers founded by Ahmet Cemil Cerenoğlu is a social network project aiming to solve the common problems of massively multi-player game players.

Mofcon: Mofcon founded by Sakarya University Electrics Electronics Engineering department graduate İbrahim Yıldız is a B2B social business network project.

Taksimobil: TaksiMobil which is a new generation taxi calling system developed by Munich Technical University Electrics/Electronics Engineering Department graduate Alper Öztürk uses the GPS technology of mobile devices to forward the customer calls to the closest free taxi. When the taxi driver accepts the call the customer receives real-time information containing the license plate, distance and estimated arrival time of the taxi.

Sporcutv: Sporcutv.com founded by Burak ulukanlı, Oya Sarıer and Erhan Bağrıaçık is a platform that aims to connect the sports sector online.

Foo Messenger: Foo Messenger project started by Burak Bayburtlu and Ertuğrul Gerçeker is a messaging service for smart-phone users but unlike the instant messaging programs it connects via the cell phone number.

Doktorfil: Doktorfil project founded by Onur Özkol, a YTU Electronics and Communication Eng. Department graduate who is currently pursuing a master’s degree at the Bosphorus University Computer Engineering department and Erdem Özkol is related with the sales and internet services of wireless blood pressure measuring devices, wireless scales, wireless blood sugar measurement devices.

Cheetah Mobile: Cheetah Mobile founded by Bilkent University Computer Engineering student Emrah Ayanoğlu is a game company that will be established to develop mobile applications and games.

Lokaid founded by METU Electrics and Electronics Engineering graduate Koray Balcı and METU Mathematics Department graduate Orçun Topdağı is an internet service forming the common infrastructure of cell phone applications. It transforms the position data provided by new generation cell phones to location (café, cinema, store, etc.) data. It enables users to share these locations in social networks. It creates a platform for developers who can use these data to give different services to users.

Hementemizle.com founded by Turgut Yazıcı, Fatih Şaki and Pars Kunt will bring together dry-cleaning suppliers online in one place and give service to consumers.

Zibumi founded by Elif Buğdaycıoğlu, Serhat Bayılı and Zeynep Bilirgil Direskeneli is a game company. It currently continues its operations at the METU Teknokent Galyum Ankara address. You can find information about their flash games at www.zibumi.com and their project information at www.zibumigames.com.

Firmanya.com founded by Ceki Mitrani and Metin Bencuya is the world’s first group-buying web site for corporations. It operates by daily notification e-mails sent to the members about services and products regarding companies and company employees at discount rates of up to 80 %.

In 2010 – 2011 Etohum period we created the Etohum fund with support from Nokia for investors with mobile projects. In addition to the Etohum Fund we supplied Nokia – Etohum support to the mobile projects of entrepreneurs who applied during the August – December time period. As a result of the evaluation of projects suited for mobile environment together with Nokia, the below ventures were selected as projects that will receive a 60.000 TL investment.

AlisverisRobotu.com, is a shopping guide where users may search for product and price information from either online or physical shops helping them to make an effective decision about where to buy which product. The venture was established by Ertuğrul Yılmaz and Çağdaş Tatlıcı.

Animalwars, AnimalWars founded by YTU Computer Engineering graduate İrfan Kaya and ITU Computer Engineering Department graduate Hüseyin Kuşçu is a multi-player role playing game (RPG) targeting mobile medium. Players may carry out different quests with animals that they raised; communicate, commerce and compete with each other online.

Gamester, The social game company named Gamester was founded by Volkan Taban, Onur Karcı and Turan Yiğitbaşı; their first product called Townster is a city planning and real estate game in which players may set up their own cities and get rents or buy buildings from the cities of their friends to become a real estate king.

Etohum started in August and its application period ended in December and in January we shortlisted 40 venture ideas from amongst 1,000 venture ideas by 2,200 entrepreneurs. We met with these entrepreneurs on Saturday, 8th of January for a one day training about 5 minute presentations and the expectations of the investors. On 15 – 16 January, the 40 ventures attended a 5 minute presentation and 5 minute question-answer session.

Etohum fund contributors and the team that would evaluate the 40 etohum projects consisted of 18 people. Gittigidiyor.com founders Burak Divanlıoğlu, Serkan Borançılı, Yemeksepeti.com founders Nevzat Aydın and Melih Ödemiş, Mynet.com founder Emre Kurttepeli, Nokta.com founders Tümay Asena and Burçin Didinedin, Mackolik.com founders Erdem Yurdanur and Tarkan Onar, Uzmantv founder Ersan Özer, Markafoni.com founder Sina Afra, Reklamz founder Orkun Tekin, Yonja.com founder Kerim Baran, Cimri.com founder Aydonat Atasever, Kerim Türe one of Youth Republic founders, Dr. Haluk Elçi one of Inventram advisors, Ari Keşişoğlu who continues his career in internet abroad and etohum.com founder Burak Büyükdemir. Eleven people attended to listen to the presentations. Those that cannot attend have the chance to watch the videos later. The evaluations were made on January 15 -16 Saturday – Sunday for two full days from 09:00 – 17:00.
Evaluations were made in the view of 3 main criteria. Entrepreneur, venture and investment.

Entrepreneur / team; Preparation, Entrepreneurship, Personality, Experience, Ability/Talent, Business Judgment, Team Harmony, Team Sufficiency were evaluated out of 100.

Venture; evaluation was made out of 100 for the variables of Market, Marketing Strategy, Competitive Advantage, Revenue Model, Scalability, Operation, Risk/Insufficiency Resolution.

Investment factor; was evaluated out of 100 for Investment Necessity/Need, Etohum Added Value, Investment Eligibility, Financials, Investment Offer, Investment Decision.

For all these points the effects of entrepreneur / team, venture and investment were evaluated as 40 %, 35 % and 25 % respectively and after the weighted averages were obtained the etohum 15 were selected following a 2-3 hour evaluation meeting.

As can be seen from the above function, key points are how the entrepreneur will carry out or has carried out this venture. At Etohum we are looking for new entrepreneurs and ventures. These may be e-commerce sites as well as software that are novel technologically. The common ground is entrepreneurship. I think that especially this point should be stressed out. In our country innovation, invention, creativity or distinctness is mixed with entrepreneurship. Entrepreneurship may be very successful if it can combine all these properties however this is not necessary. The grocery store in your neighborhood is an entrepreneur; the programmer who codes a search engine may also be an entrepreneur. Thus, the properties that we look for are ventures and entrepreneurs that may be successful commercially. All investors look for this. Hence it should not surprise anyone that entrepreneurs with a clear business model who show that they either can do or have done this job successfully are selected. Some of these may be e-commerce sites as in previous years.

Yes, all of us want ventures similar to those from developed countries to emerge from our country. I think that no one has any doubts about this. We have to accomplish this step by step. I think that it is not possible to catch up with a system that was founded 50 years ago in just 4-5 years and I also think that we should not upset ourselves by making wrong comparison. We should continue working without making excuses, despairing, blaming others and becoming desperate and aggrieved. It is a must for us to establish not individual successful ventures but a successful investment culture. That is why we should leave our nests and support the entrepreneurship system. I believe that everyone has a part to play. We should keep our energies high and be positive. When we setup a proper ecosystem, a culture that will enlarge itself will automatically emerge. That is why we will start counting from 1.

The etohum applications that started in August ended in December. After we finalized the selection period in the beginning of January and carried out the one day meeting with the Etohum 40 entrepreneurs about presentation and communication with investors on January 8, Saturday; 5 minute presentations were made to the etohum fund on January 15 and 16. We will announce the 15 ventures that we selected after all these steps during the Entrepreneurship Summit that will take place on January 29, 2011 Saturday at Bahçeşehir University.

Different from the previous selection years, we decided to make investments to etohum entrepreneurs from the etohum fund and started meetings with some entrepreneurs from January 17. We hope to announce the investments that are finalized until January 29th on the same date. We aim to support these entrepreneurs with whom Etohum fund participants will be partners so that they will rapidly develop and grow. In addition to these will supply office space at Etohum Garage to those from amongst the etohum 40 who will need a work space under the partnership conditions that we will soon announce.

We will announce the entrepreneurs that we will support with the 60.000 Nokia – Etohum fund that we set up together with Nokia and those that Nokia will support on January 29th. We will also support these ventures that are developing projects for the mobile environment as etohum during the Entrepreneurship Summit with the participation of Nokia Turkey General Manager Conor Pierce.

We are going to Antalya during 16 – 20 February with girisimcilerucuyor.com. We will make a 5 day Etohum Rixos Camp. The 40 Etohum companies that we selected this year will be able to attend as guests. In addition speakers, investors and the founders of Turkey’s leading internet companies will also attend. We are planning to supply the attendants with various practical information and ensure that experiences are shared. (The Rixos camp program of last year and a short video of what we did and the comments of participants).

This year etohum applications start in February. We will start meeting with new internet entrepreneurs by January 1. We will ensure that they make presentations to the etohum web of investors every 2 months. Etohum Investors Club will regularly get together to listen to the presentations of these ventures. We will also allow entrepreneurs who are seeded to these presentations. We will continue announcing etohum 40 and etohum 15 in January as we do every year. Etohum Fund will continue to evaluate 40 entrepreneurs for investment every year but from now on the entrepreneurs will not have to wait for the 1 year process to end. You may start filling the etohum form to start your application process.

The ‘Presentation Day’ program during which the entrepreneurs that applied etohum in 2010 but who were not among the selected etohum 40 will have a chance to present their projects to everyone will be broadcast live via etohumtv and we will enable each entrepreneur the chance to explain their project in 5 minutes. The entrepreneurs who want to present their projects at sunumgunu.com that will take place on 26th of March Saturday should apply etohum.com.
During February we aim to start the Entrepreneurship Documentary program in which the entrepreneurs will share their daily lives with us. We will select 10 internet entrepreneurs and expect them to share their daily schedule with us at etohumtv.
Girisimcilerucuyor.com program continues with Antalya camp. The next program will take place in Ankara on the 27th of March and in Izmir on the 2nd of April. If we complete the organization in Izmir we are planning to spend Sunday in Izmir as well.

I would like to summarize the developments that took place during 2010. (In August I had written about what took place during the first 7 months, developments during 2008 – 2009). The entrepreneurship ecosystem in Turkey is developing rapidly. We are facing a growing economy. Last year we made 41 Etohum meetings, camp and etohumtv shoots. There are a total of 387 episodes at Etohumtv (televidyon, vimeo); I believe that these will be regarded as a documentary in the following years. We invited over 140 speakers to all the meetings. They shared developments and their experiences with us. The meetings that we held during 2010 are as follows;
You may reach photos of all meetings via flickr, videos via vimeo, presentations via slideshare. To follow Etohum at twitter, friendfeed and the facebook fan page