Considering tech startups’ different program model needs, TTGV developed and launched a new “Initial Market Entry Investment Program” by the end of 2017, named “HIT”. The new program aims to create leverage to commercialization processes of tech startups. HİT Program is constructed according to TTGV’s high impact focused areas and also it is designed as a scalable reference model. The primary focus of the program is health tech startups.
Target Group Profile
Applicants for this program are expected to have completed the proof of concept stage for a product with competitive potential and to be at the stage for product-market penetration. Additionally, the candidate’s product has not yet to be sold in the market with economies of scale. Startups that have higher investment potential and/or a possibility of increase in investment potential after being in HİT program, have a higher approval chance. A business plan, which involves existence of a scalable and accesible market, a clear and marketable solution to an accepted problem, predefined customer segments, predictive income model and experience and qualification of the entrepreneural team, must be submitted during application.
Qualified startups with a valid business plan will be accepted to “Initial Market Entry Program”. The program finances business development activities maximum 50.000 USD budget per startup for a one-year period to accelerate their initial market entry process. In this context, should the accepted startups be funded by an independent investor within five (5) years after acceptance, TTGV has the right to join the investment as a co-investor -based on the valuation of the investor, up to 1 million USD at 10% discount rate.
Throughout the operational processes of the program, TTGV will contribute directly to the cost of any business development product or service to be procured by the startups throughout the commercialization process. During program implementation, to support the growth of new startups and accelerate their effective market entry, TTGV team will work together with Development Coordinators, who will be appointed for each startup group that includes a certain number of startups. In addition to the Development Coordinators, who will work along with the program management unit, program operations will be carried out with the contributions of professional experts and organizations with sufficient experience and network knowledge in mentoring, business development, marketing, certification and specific thematic areas.