The document describes an acceleration program for early stage startups. The program provides startups with funding, mentorship, coworking space, networking opportunities, and preparation for an investor pitch. Startups work with a lead mentor and receive expert coaching. The program aims to help startups develop their product, test their business model, and gain initial traction over 6 months. Upon completion, startups have the opportunity to pitch to angel investors for seed funding. The program is run by BIC101 and provides startups with 20,000 TL in cash and access to strategic partners and discounts.

1. BIC101
ACCELERATION PROGRAM
Version 11.02.2016 - Startups

2. THEPROBLEM
Characteristics of Early Startups
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Status
• Idea Stage, or Product / Service not yet / not fully developed
• No / limited market test, no users, no customers yet
• No / limited definition of business model and monetization
• Legal unit not necessarily created, organization not defined
• Too developed for continuing in incubation center, not enough
developed for angel investment
Special Needs – Acceleration
• Development and testing of a marketable MVP (minimum viable
product), support for product / service development
• Support for market and competitor analysis
• Business model and market testing, initial market and customer access
• Weekly mentorship by lead mentor
• Additional weekly coaching by domain and functional experts
• Limited financial support needed
• No need for legal company formation
• Preparation of investor pitch, access to angel investors for seed round

3. THEPROBLEM
Acceleration in the Startup Life Cycle
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4. THEPROBLEM
Acceleration in the Startup Life Cycle
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Source: Timmons,
J.A./Spinelli, S., New
Venture Creation,
p.433

5. THEPROBLEM
Main Reasons for Failure
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Source: Kuratko, Entrepreneurship – Theory, Process, Practice, p.2 68

6. THEPROBLEM
The Role of Investors and Mentors
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Passive
• 1-2 times a year.
• You invest with others and receive information on the company like all
other shareholders. A shareholder meeting is usually held once a year.
Active
• Average 0.5-2 days a month alone or as a group.
• Usually as a Board Member or Advisor. When you make the investment
you have to decide whether or not you want to be on the Board and
negotiate it as a term.
Very Active
• 1 day a week alone or as a group.
• Usually playing an operational role. Need to discuss upfront if you will
be compensated for it and if yes, how much and split of cash and
equity.
• Adopted from: GoBeyond, Early Stage Investing, Business Angel Training, September 2012

7. THEPROGRAM
Target Startups
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Status
• More than an idea, less than a working business model
• Initial product in advanced status or ready but untested
• No / limited market test, no users, no customers yet
• No / limited definition of business model and monetization
• Legal unit not necessarily created, organization not defined
• At least one fully committed founder
Target Sectors
• General focus on ICT (information / communication technology)
• Cloud-based business solutions (SaaS for B2B)
• E-services, e-food / marketplaces
• Fintech
• Mobile Tech
• Adtech / Brandtech / Big data, customer analytics
• Startups targeting European / German markets
• Additional areas of interest: Edutech, Traveltech, IoT, Cleantech, Health
/ lifesciences, Marketplaces / communities

8. THEPROGRAM
Program Structure
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Stage 1 (3 months)
• Completion of MVP (minimum viable product)
• First evaluation by BIC101 investment committee, lead investor
and lead mentor
• Decision about progress to stage 2
• Decision about participation in Berlin exchange program
Stage 2 (3 months)
• Definition and testing of scalable business model
• Gaining initial traction (first customers, users, market feedback)
• If applicable: participation in Berlin exchange program
• Second evaluation by BIC101 investment committee, lead investor
and lead mentor
• Decision about fast track to BIC angel investor pitch (BIC 2nd
round) – no first round evaluation, no selection committee needed
• Decision of lead investor, lead mentor, BIC to invest in angel round
BIC Angel Investor Pitch (2nd round pitch)
• Fundraising from BIC Angels and BIC Strategic Partners

9. THEOFFER
Mentorship, Traiings & Expert Coaching
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Mentorship
• Every startup will be matched with a lead mentor
• Lead mentor and founders develop and execute customized
mentorship, coaching and training program
• Regular, weekly half-day meetings with lead mentor
• Mentor selection and supervision by Mentors Network Turkey
Trainings & Expert Coaching
• Customized training & expert coaching program for each startup
• Weekly schedule for expert trainings & coaching sessions in BIC
• At least one weekly coaching required
• Expert selection and supervision by Mentor’s Network Turkey
• Additional free access to all tranings and experts for participating
startups
• Additional participation in startnowhow seminars in cooperation with
Bogazici University recommended

10. THEOFFER
Expert Coaching
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Experts
• Strategy and organization
• Business model development
• CI & CD development
• UX development
• Backend development
• Growth Hacking
• KPI definition and measurement
• Product development
• Business Canvas (education)
• Storytelling and Pitching
(education)
• Lean startup approach (education)
• Retailing
• Tourism
• Health
• Franchising
• B2B technical service selling
• Market and competitor analysis
• Digital marketing
• PR
• Financial planning
• Startup funding
• Legal
• Tax
• HR
• ......

11. MENTORSNETWORKTURKEY
• First and only Mentor Network of Turkey
• Standardized and managed Startup and SME Mentorship
• Mentors with a variety of profiles and expertise
Our goal:
KPI based, quality mentorship services.
To be the team behind successful startups and the success stories from the
ecosystem
• 40+ Mentors
• 2016 June target: 60+ Mentors
• Istanbul, Ankara, Izmir, Bursa, Londra, Chicago
• Mentor training program supported by Tübitak
• (partnership with 14 organisations)
• 78 Mentor – Startup/SME matching since November 2015
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12. THEOFFER
Networking
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Customers and Strategic Partners
• Connecting startups to potential customers – use of BIC Angel Network
and Mentor’s Network Turkey
• Connecting startups to strategic partners in Turkey and abroad
Turkish Startup Ecosystem
• Close cooperation with other BIC101 startups (coworking space)
• Startups, accelerators, incubators, universities, state funding,
associations, ……
Angel investors, VC funds and family offices
• Preparation and fast track to BIC angel round with all funding partners
• Connecting startups to domestic and international VC funds
Berlin Startup Ecosystem, European Customers and Strategic Partners
• For selected startups only (3 startups each semester)
• Working in a Berlin-based accelerator – access to Berlin mentors,
experts, startups and governmental / NGO’s
• Access to potential customers and strategic partners in Germany

13. THEOFFER
Coworking Space
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Coworking Space
• Coworking space in BIC’s Akatlar office – cozy villa in prime location,
close to Akmerkez, clubsporium sports center with starbucks &
restaurants, etc.
• Meeting rooms with telco equipment
• All standard coworking facilities – workplace, fast internet, UPS; coffee
& tea, cleaning, etc. – access for BIC startups only
Personal support
• Direct and personal support by BIC team – works in the same office
• Dedicated BIC teammember for BIC101 startups
• Inhouse IT systems / hardware & software support
• Direct access to BIC Angels and BIC Angel Partners

14. THEOFFER
Cash , Perks & Discounts
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Cash
• Lead investor provides 20,000 TL cash for all expenses necessary to
develop and test product and business model
• Basíc income for founders can be included
• 6-month-expenses plan will be done together with lead investor
and lead mentor
• Additional cash needs can be covered
• Case-by-case review with BIC101 investment committee, angel
investors and lead mentor
• Agreement with startup will be adjusted accordingly
Perks & Discounts
• Extensive agreements with BIC strategic partners can be used by
startups
• Technical partnerships: Microsoft Azure, Google cloud, Amazon web
services, mailchimp, IBM, …. (tbc / to be extended)
• Business partnerships: Moroglu Arseven, Arkan & Ergin, Denove,
clubsporium (tbc / to be extended)

15. THEDEAL
Deal Structure
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Compensation
• Option on 6% of equity in case of next round / company incorporation
• Shares are distributed to investors, lead mentor, experts, BIC,
Mentor’s Network Turkey, other strategic partners
• Preseed investors have discount in case of next round
• Incentive to invest in, and lead BIC angel round
• No repayment / refund if no next round / no company establishment
(not a “convertible loan”)
Deal Structure
• No company foundation needed, direct agreement between founders,
investor(s), lead mentor, BIC Angels and Mentor’s Network Turkey
• Similar structure even if company already exists
• Option agreement, similar structure to Safe / Kiss agreements (used by
500 startups, Ycombinator in US) but based on Turkish law
• “Right of first refusal” for BIC Angels – after BIC101 program, BIC
Angels have the first right to invest in angel round (exclusivity for
duration of the BIC101 program)

16. THEDEAL
Application Process
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Application & Selection
• Application anytime
• Application form: www.startnow101.com
• Round 1: Initial review and feedback by BIC101 team
• Round 2: Selection by BIC101 investment committee
• Round 3: Monthly pitching session to preseed investors & BIC101
• Matching with preseed investor
• Matching with lead mentor
• Development of customized training and coaching program

17. Phone: +90 (212) 328 19 39
E-Mail: bic@bicangels.com
www.bicangels.com
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