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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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