LECTURE – VIIILECTURE – VIIIe-COMMERCEe-COMMERCE

İstanbul Commerce University Vocational Schoolİstanbul Commerce University Vocational School

Entrepreneur Entrepreneur

Entrepreneur is a person who Entrepreneur is a person who habitually creates and innovates to habitually creates and innovates to build something build something which has which has opportunitopportunity or risky or risk..

Characteristics of Characteristics of Entrepreneurs Entrepreneurs

Self Discipline Self Discipline ::

- Think and dream something- Think and dream something

- Make the plan- Make the plan

- and take action by oneself. - and take action by oneself.

Risk-taking Risk-taking ::

- Do not averse to take risk- Do not averse to take risk

- But they are manageable risk takers- But they are manageable risk takers Energetic Energetic ::

- They have high level of energy - They have high level of energy Self MotivationSelf Motivation

Self-motivation is the ability to Self-motivation is the ability to motivate oneself without the need of motivate oneself without the need of being influenced by another person.being influenced by another person.

Impatience and EnthusiasmImpatience and Enthusiasm::

- Awareness of elapsed time - Awareness of elapsed time

- Irresistible desire to take action- Irresistible desire to take action Self-confidence :Self-confidence :

to believe that one is able to to believe that one is able to accomplish to overcome obstacles accomplish to overcome obstacles and challengesand challenges

Venture CapitalVenture Capital

Venture Capital is the money and Venture Capital is the money and resources made available to startup resources made available to startup firms and small businesses with firms and small businesses with exceptional growth potential. Most exceptional growth potential. Most venture capital money comes from venture capital money comes from an organized group of wealthy an organized group of wealthy investors. investors.

Venture capital investments are Venture capital investments are generally made in cash in exchange generally made in cash in exchange for shares in the invested company.for shares in the invested company.

Venture capitalists want to harvest Venture capitalists want to harvest in 3–7 years.in 3–7 years.

Angel InvestorAngel Investor

Angel Investor is an individual who Angel Investor is an individual who provides capital to one or more provides capital to one or more startup companies. Unlike a partner, startup companies. Unlike a partner, the angel investor is rarely involved the angel investor is rarely involved in management. in management.

One of the first steps toward a One of the first steps toward a professionally-managed venture professionally-managed venture capital industry was the Small capital industry was the Small Business Investment Act of 1958Business Investment Act of 1958 in in U.SU.S. .

High interest rates in Turkey exert High interest rates in Turkey exert pernicious effect on venture capital pernicious effect on venture capital financing. financing.

SStages of Venture Capitaltages of Venture Capital FFinancinginancing

Sead CapitalSead Capital

The venture is still in the idea The venture is still in the idea formation stage and its product or formation stage and its product or service is not fully developed.service is not fully developed.

Start-Up CapitalStart-Up Capital

The venture at this point has at least The venture at this point has at least

one principal working full time. one principal working full time.

Early Stage and Gate FinancingEarly Stage and Gate Financing

The venture has finally launched and The venture has finally launched and achieved initial traction.  Sales are achieved initial traction.  Sales are trending upwards. trending upwards.

Bridge FinancingBridge Financing

BBridge financing is a short term form ridge financing is a short term form of financing used to prepare a of financing used to prepare a company for its IPOcompany for its IPO (Initial Public (Initial Public Offering).Offering).

Application StagesApplication Stages

Business Plan Business Plan First evaluationFirst evaluation PresentationPresentation Second evaluationSecond evaluation Collective study on feasibilityCollective study on feasibility ContractContract

Examples in TurkeyExamples in Turkey Vakıf Risk A.Ş.Vakıf Risk A.Ş. Okyanux Risk Sermayesi Yatırım Okyanux Risk Sermayesi Yatırım

Ortaklğı A.Ş. (İxir) (Spent 60 million Ortaklğı A.Ş. (İxir) (Spent 60 million dolars) dolars)

Koç Holding (Biletix)Koç Holding (Biletix)

e-Tohum:e-Tohum:

http://www.etohum.comhttp://www.etohum.com Girişim FabrikasıGirişim Fabrikası

http://www.girisimfabrikasi.comhttp://www.girisimfabrikasi.com İLab VenturesİLab Ventures

http://www.ilab.com.tr/http://www.ilab.com.tr/