Startup Turkey 2016 - Joshua Burke
•Download as PPTX, PDF•
0 likes•501 views
How can governments support the startup ecosystem?
Recommended
More Related Content
Viewers also liked
Similar to Startup Turkey 2016 - Joshua Burke
Similar to Startup Turkey 2016 - Joshua Burke (20)
More from Startup Turkey
More from Startup Turkey (9)
Recently uploaded
Recently uploaded (20)
Startup Turkey 2016 - Joshua Burke
- 1. Joshua Burke U.S. Cmmercial ServiceU.S. Commercial Service
- 3. How can Governments support the startup ecosystem ?
- 5. Chobani
- 6. Personal Recommendations Network Traditional Contacts: By Name & Static Your WyR Contacts: By Need & Social Grouping what you rave WyR
- 9. SuperCharge with social, personal, and company data Scan or SMS a business card Automate follow-up reminders Track communications activities Organize contacts in groups Share recommended contacts Group messaging Control your own contacts Human Relationship Management Kahoots powered by:
- 12. How US Embassies in Turkey and the Region are supporting Entrepreneurship American Mobile Spaces TEB University Project ‘Let’s Up’ Social Entrepreneurship Initiative Global Entrepreneurship Summit in Silicon Valley Lead delegations to the Consumer Electronics Show Women’s Entrepreneurship Summit – Connect 2 Success Global Innovation through Science & Technology (GIST) Government Entrepreneurship Forum – in Ankara Happy Hours in Istanbul and Ankara Hackathon benefiting refugees Exchange Program
Editor's Notes
- INTRO - Oludeniz, Turkey. About three hours West of here this stunning landscape is the ideal location for your vacation. The turquoise coast never fails to impress. Fresh and sea water mix amidst a national nature preserve that is still functional for boating and beach tourists alike. What we’re seeing here is a beautiful, well balanced ecosystem. Good afternoon, my name is Joshua Burke. I’d like to introduce myself by sharing my three roles. 1 – I’m also an Entrepreneur – I have started business, raised funding, took big risks, managed teams and blown budgets. I know the exhilarating rush that comes from securing financing, and I also understand the sinking feeling that comes when an investor calls and asks “Where’s My Money?” 2 – My second role is that of an Investor. In addition to lending my time and experience mentoring startups, I’ve also personally invested my own money into an app which has recently launched. 3 –In my third role, and why I’m here today, I’m a US Diplomat serving in Ankara. I’ve been asked to join you today to discuss not just ecosystems in general, but primarily to ask a difficult question. ***NEXT SLIDE****
- As an entrepreneur myself, believe me I know what many of you are thinking as the answer to this question: 1. Just Lower Taxes And, 2. Stay the Hell out of our way. I certainly appreciate this sentiment, but I do believe there is a bit more that we can do. While I’ve been asked to talk on this subject, I must admit that I do not have the answer to this question. So I’m hoping that we can learn something from the startup stories of 3 companies that I’m about to share. ***NEXT SLIDE***
- The first Startup Story is likely known to many of you, but it’s one that’s worth repeating. Hamdi Ulukaya moved from Turkey to New York in 1994 to learn English. He eventually started his own cheese business – but it was not very successful. So he decided to diversify his business when he saw a yogurt factory for sale – except Hamdi Bey did not have the money to buy it. But in 2005 he received a loan from the US Small Business Administration to buy the factory and he expanded into the yogurt business. Two years later the first Chobani yogurt was sold in New York, and by 2010 Chobani was the best selling yogurt in America. And last year the company earned $1.5 Billion in revenue. So, to what does Hamdi Bey’s accredit his success? ***NEXT SLIDE***
- … The loan from the SBA allowed him to grow the company according to his personal vision. So, we can say that access to FINANCING is one area where governments can support entrepreneurs. But, now let’s discuss a company no one here has heard of…. ***NEXT SLIDE*** HAMDI ULUKAYA, FOUNDER AND CEO After moving to New York from his native Turkey, Hamdi found that in America, yogurt just wasn’t as delicious and widely available as it was back home. He believed everyone deserved better options, so he set about making delicious, nutritious, natural and accessible Greek yogurt right here in the U.S. The rest, as they say, is history. 2005: Hamdi Ulukaya buys an old Kraft yogurt plant in upstate New York. 2006: The plant makes U.S.-style yogurt for other companies, while Ulukaya and a Turkish-born yogurt maker develop the Chobani recipe. 2007: The first cup of Chobani hits grocery shelves in Great Neck, New York. 2009: Chobani becomes the best-selling brand of Greek yogurt in the United States. 2010: Chobani becomes the best-selling brand of all yogurt in the United States and expands to Canada and Australia. 2013: Chobani sales are expected to top $1.3 billion.
- What you Rave – or ‘Wire’ was started in 2013 by my friend Nick in my hometown of Chicago. The founder knew that people are much more likely to trust the recommendations of trusted friends and family over a Yelp-style scoring system. WyR helps users get recommendations from their personal contacts and social. The Business model was to have businesses pay for their service to be recommended through these social groups. But, the concept was overly complex, the business model was flawed, and the app was a bit clunky. ***NEXT SLIDE***
- ***NEXT SLIDE***
- In the end WyR failed in less than 18 months. So what am I sharing this story of a failed startup? Is there more to this story? There is. ***NEXT SLIDE***
- After sulking for a few months after the crash of WyR, Nick slowly began to understand the problem. The real problem had nothing to do with social networks recommending businesses. The main challenge that we all face in this busy world is keeping track of our Human Relationships. So from the ashes of WyR, like the rising of the ANKA bird, emerged KAHOOTS. Nick discovered that the last major ‘innovation’ to contact management occurred ten years ago: Alphabetical Order. There must be a better way. So with his experience and technology from WyR, Nick rented space and began taking courses at 1871 – Chicago’s premier startup incubator and accelerator. I mentioned earlier that I have invested my personal money in an App – this is it. Kahoots allows users to scan cards, group message, remove duplicate contacts and much more. As an active user, I’m incredibly excited to see what they’re going to add next. And as an investor, I’m eager to see them rocket past profitability. I recently asked Nick why has this business been so different. His response…. ***NEXT SLIDE***
- 1871 was the year of the Great Chicago fire. Over 800 hectares of buildings, roads and homes were destroyed. Yet this is considered not the end of Chicago, but the beginning. From the ruins arose one of America’s great cities. The incubator 1871 is named in tribute to the spirt of people that begin again – that rise from the ashes. It is funded inpart from state and federal grants, and has been lauded as one of the leading incubators in the world. So returning to our key question – the story of WyR and Kahoots has taught us how governments can help in two additional ways. 1. WyR as a business had failed, but the Founder had not failed – that is the important difference. Governments should develop Policy to support and allow for Failure – in the US we call this ‘Limited Liability’. 2. What we’ve also learned is that governments can help support the Infrastructure that entrepreneurs need. By providing things like access to physical space and fiber internet backbone, governments can create an environment where new businesses can thrive. But to get a more comprehensive answer to our question, we need to learn from one more company… ***NEXT SLIDE***
- The collective knowledge, experience, and passion to succeed in this room can literally change the world. Your ideas and companies will have broad impact. But your impact can be even greater with the support of your governments. We’re asking the key question, what can governments do to support the entrepreneurship ecosystem. We’re learned from the startup stories there are a few key areas where governments can help. However these are certainly not only areas, and I’m reminded of the words of a man much wiser than I. About 1,900 years ago, not far from here in Pamukale, the famous roman philosopher Epictetus once said, that we are given two ears and one month, so that we may listen twice as much as we speak. Today, I have spoken a lot, with the words of Epictetus in mind, I want and I need to hear from you. I need your help to answer our question. On the bottom of your chairs you will find a sticky note. I am asking you to – Right Now – write down 1 way Governments at the municipal and national level can help you grow Your business. As you exit this evening, please place your note on the flipchart provided outside. Our team will compile all these notes and Your Input will help shape a Major Forum the US Embassy will hold in Ankara this Spring. ***NEXT SLIDE***
- *Briefly describe the activities here listed. ***NEXT SLIDE*** LET’s UP- TEB US EMBASSY SPONSORED PROGRAM Student entrepreneurship is on the rise and becoming even more important, both for students as they develop long-term leadership skills, and business connections. Additionally, entrepreneurship is an activity that cannot only enhance students' success academically, but strengthen confidence and instill qualities and skills conducive to success upon graduation. To foster the ecosystem in Turkey, in partnership with TEB Bank, the entrepreneurship foundation will organize the Let’s up program in Bogazici, Yildiz Teknik, Konya Selcuk and Middle East Technical University. After announcing the program 30 students will be selected from each university to master the 101 Entrepreneurship by established academics and consultants. The project will conclude with what is called a demo day and all 120 participants will intern at selected incubation centers and work with mentors to realize their business plans. The project will start in October 1, 2015 and end by 1 September 2016. Also, selected 8 winners will travel to the United States to witness the entrepreneurial eco system in the United States.
- Arkadaslar – Cok Cok Tessekur ederim. It’s truly an honor for me to be with you here today. I look forward to getting to know each of you better this evening and in the months ahead. But before I go, I would like to leave you with an image of one more Ecosystem. ***NEXT SLIDE***
- I love this image. Cappadocia always captivates and inspires. I see this picture as a reflection of the Turkish entrepreneurial spirit. We see deep, established history, a beautiful yet uneven landscape and so many colorful balloons striving to rise above it all. I wish that your ideas and your spirit continue to rise and inspire others. Please Never allow anyone to pull you back to the earth. You control your destiny – reach for the sky! Thank you.