Countries
Turkey
Key impact
1,436 jobs created“As in all emerging markets, Turkey's progress depends on the success of High-Impact Entrepreneurship. We need more people with the courage, vision and skills to lead enterprises that make an impact not just in Turkish markets but also globally.”
- Launched
- 2006
- Entrepreneurs
- 47
- Website
- Endeavor Turkey
- Managing Director
- Didem Altop
Country Snapshot
According to Turkey’s 2006 Global Entrepreneurship Monitor (GEM) survey results, only six out of every 100 adults in Turkey are pursuing entrepreneurial careers – the lowest entrepreneurship rate among comparable developing countries. Those that do find the courage to pursue their entrepreneurial dreams face typical emerging market challenges, including complicated bureaucracy and limited access to financial capital, strategic advice, and relevant networks. Turkey’s need for a strong entrepreneurial sector is clear. Over 12 million youth aged 15-24 are entering the workforce and, according to Turkey’s 2008 UN Human Development Index Report, Turkey will need to create an estimated 13 million new jobs by 2010 in order to achieve a 70% employment rate.
Endeavor Turkey’s challenge is three-fold: 1) mobilize business sector resources to systematically help entrepreneurs with high-impact potential effectively overcome growth obstacles, 2) promote the success stories of these entrepreneurs to inspire and motivate the next generation of high-impact entrepreneurs, who will in turn create more jobs, and 3) prepare the next generation of potential entrepreneurs to identify opportunities and execute ideas.
The endeavor effect
Based in Istanbul, Turkey’s commercial capital, Endeavor Turkey was officially incorporated in December 2006 with the support of a group of founding sponsors that included eight board members and 23 Venture Corps. As the first Endeavor office in Europe, Endeavor Turkey is working closely with the international expansion team from Endeavor Global to launch additional country operations and promote Endeavor’s mission in the region. As a result of a Venture Corps recruiting campaign focused on Istanbul and Ankara during the first quarter of 2009, Endeavor Turkey’s mentor network has grown to more than 110 members, representing a diversified base of community leaders including leading executives, established entrepreneurs and family business founders, bankers, investors and a full range of professional service providers. In 2009 alone, Endeavor Entrepreneurs in Turkey generated $73.5M in revenues.
One of the most encouraging developments of this year has been the May 2010 public launch of the Akbank-Endeavor Credit Pool, currently valued at $20M, earmarked to provide Endeavor Entrepreneurs with very favorable special terms for their financing needs.
Entrepreneurs
Board of directors
Ersin Akarlılar
Mavi Jeans Company, Global CEOBülent Çelebi
AirTies, Founder & CEOHayri Çulhacı
Akbank, Vice ChairmanVuslat Doğan Sabancı
Hürriyet, ChairwomanIşık Keçeci Aşur
Aragon Capital, Managing PartnerAli Koç
Koç Holding, Board MemberEbru Özdemir Kışlalı
Limak Holding, Board MemberMurat Özyeğin
FIBA Holding, Board MemberSuzan Sabancı Dinçer
Akbank, ChairwomanFerit Şahenk
Doğuş Grubu, ChairmanAlp Saul
PRONET, CEOMustafa Say
AccessTurkey Capital Group, Founder & Managing PartnerÖzcan Tahincioğlu
Tahincioğlu Holding, ChairmanMahmut Ünlü
Standard Ünlü, CEO & Board MemberSupport the cause
Endeavor transforms the economies of emerging markets by identifying and supporting high-impact entrepreneurs
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