1871 ANNOUNCES ARRIVAL OF LEADING STARTUPS FROM TURKEY
As the interest of US investors in emerging markets increases, Turkish-founded startups complete ITU GATE Accelerator Program with business development, fundraising opportunities and a Demo Day at 1871
CHICAGO (January 14, 2015)—1871 welcomed eight Turkish startups to its headquarters at The Merchandise Mart this week from the ITU GATE Accelerator Program. The startups will spend three weeks in Chicago to pursue business development and fundraising opportunities, ending with a Demo Day at 1871 on January 29. This program marks the third time that Sente Advisory and 1871 have partnered to bring groups of Turkish-founded startups to 1871.
“Chicago is the best place for an international startup to launch into the US market,” said 1871 CEO Howard A. Tullman. “As the center of Chicago’s entrepreneurial community and the nation’s largest digital startup hub, 1871 is uniquely placed to showcase the abundant resources that allow entrepreneurs from across the globe to come to Chicago and thrive. We are excited to welcome entrepreneurs that have developed in Istanbul Technical University’s ecosystem, and look forward to providing them with valuable experience and connections.”
The ITU Gate Accelerator Program begins with six weeks in Turkey, where seventeen selected startups receive business education and personalized mentoring in Istanbul. After a Demo Day in Turkey, eight startups are selected to execute business development and fundraising plans in the United States. The companies work closely with the Sente Advisory team through scheduled individual meetings as well as informally in a collaborative work environment. After participating in a Demo Day, selected companies travel to the US portion of the program. Following their time in Chicago, the startups visit San Francisco for one week and participate in a Demo Day at PARISOMA on February 5.
The startups visiting 1871 include:
· Bodru - a cloud-based platform for SME business applications. The team's fourth startup is in beta with 1,000 sign-ups, 80 percent of which are in the US. www.bodru.com
· Borda – a solution that integrates radio frequency identification (RFID) hardware and software into hospitals, providing real-time solutions for more efficient use of assets and personnel. The company has 22 customers in Turkey, an office in the US, and is negotiating a partnership with a leading American healthcare integrator. www.bordatech.com
· Ingenious – a startup that designs and produces smart home systems. The company has 500+ pre-orders in Turkey, 50 percent of which came within the first 24 hours of its public beta launch.
· Invent Analytics - a SaaS based business analytics company specializing in retail merchandising, planning, inventory and supply chain management. The company has eight major customers in Turkey. www.inventanalytics.com
· Nanokomp - the developer of a continuous production line that creates low cost prepreg tapes with added nano-particles. Prepregs are composite material used in aerospace, automobile, and renewable energy industries. The patentable technology presents substantial licensing and exit opportunities in a consolidated supplier market. http://nanokomp.com.tr
· SBS – a solution that unlocks the health potential of products produced by bees, including the development of spreads that slow aging while boosting energy and the immune system. The team has connections to 10,000 beekeepers internationally and currently has 20,000 hives contracted in Turkey. http://sbs-turkey.com
· Sentromer - offering real-time, DNA-based food testing kits to laboratories, brands, and consumers, the company has 300+ customers in Turkey. www.sentromer.com
· StockGround - an equity research platform that enables buy-side and sell-side analysts to monitor and analyze financial data and news. The company has more than 250 users stemming from more than 50 customers in four countries. www.stockground.com
Since its opening, 1871 has hosted thousands of foreign dignitaries and entrepreneurs seeking to explore the entrepreneurial and technology industries in Chicago. In June, 1871 hosted twelve international startups for the US Department of State’s Global Innovation through Science and Technology Initiative (GIST), and more recently hosted eight Columbian IT firms to complete the TerraBridge Internationalization Project Boot Camp. 1871 also has formalized agreements with incubators and co-working spaces in London, Tel Aviv and Mexico City. This international involvement not only highlights Chicago’s growing ecosystem for digital entrepreneurs, but also provides 1871 members with an expanding set of tools and resources so that they can remain globally competitive as they develop their businesses.
For more information or to attend the Demo Day in Chicago or San Francisco, please visit: https://www.eventbrite.com/e/demo-day-featuring-itu-gate-startups-tickets-15147229772.
About ITU & ITU ARI Teknokent
Istanbul Technical University (ITU) has created the "ITU Entrepreneurship Ecosystem" to encourage the role of entrepreneurship in national development and continues to build on 242 years at the forefront of technical progress in Turkey. ITU ARI Teknokent is the Technology Park of ITU and works closely with startup companies to improve research and development on advanced technologies in Turkey. The ITU ARI Teknokent hub is situated in the heart of business life in Istanbul with over 160 companies and 5,200 employees.
About Sente Advisory Services (Sente)
Founded in 2008, Sente provides incubation and accelerator services to startups in Turkey and other emerging startup ecosystems. Sente facilitates entry into US markets for startups with strong opportunities for business development and fundraising.
1871 is the home of more than 325 early-stage, high-growth startups. Located in The Merchandise Mart, this 75,000 square foot facility is also the headquarters of nationally recognized accelerators, Techstars Chicago and Impact Engine; half a dozen industry-specific incubators in key areas such as real estate, education technology and the Internet of Everything; several emerging tech talent schools (The Starter League and the Startup Institute), and the state's leading technology advocate, the Illinois Science and Technology Coalition. It is the second home to Chicago-based VCs, Pritzker Group, MATH Ventures, Hyde Park Angels, OurCrowd and Chicago Ventures, as well as satellite offices for Northwestern University, University of Illinois, University of Chicago, Illinois Institute of Technology, Northern Illinois University, Southern Illinois University, Loyola University Chicago and DeVry. 1871 has fast become recognized as the hub for the city’s entrepreneurial/technology ecosystem and has been featured in TechCrunch, Wall Street Journal, New York Times, Chicago Tribune and Crain’s Chicago Business among other top media.