İşbank Launches an Exclusive Branch for Startups
İşbank launched the Istanbul Startup Branch to serve entrepreneurs exclusively. The Startup Branch differs from traditional bank branches thanks to its unique design and tailored service model to serve startups and entrepreneurs.
İşbank launched the Istanbul Startup Branch to serve entrepreneurs, angel investors, venture funds and other ecosystem partners exclusively at İş Towers in Levent, Istanbul. The branch was inaugurated with a ceremony attended by stakeholders from the entrepreneurship ecosystem in addition to İşbank CEO Hakan Aran.
The Startup Branch differs from traditional bank branches thanks to its unique design and tailored service model to serve startups and ecosystem partners. The target audience for the branch consists of technology-based new generation startups, mutual funds and angel investors as well as other stakeholders of the ecosystem. The branch will serve the startups on an individual basis and offer them customized products and services tailored to their needs, unlike traditional banking.
The services of the branch are not limited to banking products and services; the branch will also offer cooperation opportunities in accounting and finance management, investment processes, human resources and legal issues as well as network support for the entrepreneurial ecosystem.
“The contribution of venture capital to growth is 10 times more than traditional capital”
In his speech at the opening ceremony, İşbank CEO Hakan Aran emphasized that they had adopted an inclusive and integrated approach to entrepreneurship, an area of focus. Aran stated that they are offering to entrepreneurs anything that is possible within economic and technological means. “Supporting entrepreneurs actually means supporting the growth of the country. The contribution of venture capital to growth is almost 10 times more than traditional capital. In addition to playing a role as a financier in the economic development of our country, we also touch all segments of the ecosystem from startup accelerator programs to funding and from women entrepreneurs to agricultural entrepreneurship.”
Aran expressed that the Bank's journey in entrepreneurship began in May 2015 following their visit to Silicon Valley, where the entrepreneurial ecosystem was born. “During our visit, we tried to discover, observe and understand the features that make local startups successful on a global scale. We took care to bring that experience to our country and replicate it. We believe we have come a long way in the last 5-6 years. The first step we took when we came to Turkey was to start the Workup Accelerator Program. That enabled us to have the opportunity to receive and evaluate the applications of 13,000 candidate entrepreneurs. Including our graduates of the 8th class in October, we graduated 81 startups from this program. While İşbank invested US$3.13 million in 5 startups, 30 startups among our graduates received US$7.2 million in investment.
This program is followed by the Innovation Centers we launched in Silicon Valley and China; Maxis Girişim Sermayesi Portföy Yönetimi A.Ş., which we established to support entrepreneurs, as well as its affiliated funds; our partnerships with the Turkish Entrepreneurship Foundation and Arya Women's Investment Platform; our cooperation with Koç University's KWorks program on social entrepreneurship; and Softtech Ventures, which was launched to revive and promote in-house entrepreneurship.”
“We welcome all entrepreneurs”
Aran stated that they completed the last missing piece in this field by opening the Istanbul Entrepreneurship Branch. “This branch aims to facilitate and ensure the maturation of the entrepreneurial ecosystem and to help the entrepreneurship culture in our country to flourish. It is vital for our entrepreneurs to feel like they are at home or at their office here, to know that there is a bank that understands them, speaks the same language as them, supports and encourages them and that they can hold their meetings in this space and meet all their funding needs from this branch. We welcome all entrepreneurs, keep our doors open for them and want them to know that they should feel the power of İşbank supporting them.”