Etohum, Aslanoba deal to provide $6 million for web startups

With the agreement, Etohum and Aslanoba will pour a total of $6 million into select companies and projects in the next three years.

Etohum, Aslanoba deal to provide $6 million for web startups

Etohum, which has so far supported 25 startup companies in the web industry, announced a $6 million investment deal with angel investor Hasan Aslanoba, the CEO of Aslanoba Gıda, in a press conference in İstanbul on Tuesday.

With the agreement, Etohum and Aslanoba will pour a total of $6 million into select companies and projects in the next three years. In the initial phase of the deal, Aslanoba invested $1.2 million for a 10 percent share of Etohum, and this amount, which will gradually increase to $3 million in the coming years, will be completely used as part of a backing fund for promising companies and projects. The businessman also vowed to ready another $3 million to be allocated as backing for 30 initiatives selected by Etohum.

Startups interested in taking advantage of the financial support can submit their bids from June 2013 to December 2013. Etohum will invite the chosen companies to participate in a series of conferences and training lessons for 15 days.

Some of the Internet firms that Etohum has selected during the five years since it started its operations have become leading players in their sectors. A few examples are Grupanya, Balerin, Evidea, Pembe Panjur, İndirdik, InfoDif, Ehil, Gamester, Userspots, connected2me and Dekoreko. Etohum founder Burak Büyükdemir said the agreement with Aslanoba will pave the way for the entrance of other businessmen from the "old economy" -- a term that he uses for industrial production versus the “new economy” that is being rapidly shaped around the ever-expanding opportunities of the web. "This agreement will encourage the other big players of the industry to compete with or fund startups amid the unstoppable rise of the Internet. This will fuel the further expansion of the business," Büyükdemir noted.

Hasan Aslanoba managed Turkey's largest water brand, Erikli, for more than two decades until 2012, when he decided to focus on innovative business models. Since then, Aslanoba has played the role of an angel investor for nine startups including AnyMeeting, Boni, Tablet Seminerler, AlwaysFashion and İncir.

Cihan

Last Mod: 29 Mayıs 2013, 10:47
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