Etohum & Aslanoba partnership invests 6 M dollars for startups

Etohum, the most important market place that invests in and supports the new economy companies, and Hasan Aslanoba, a prominent Turkish businessman, have recently signed an investment agreement, according to which Hasan Aslanoba, together with Etohum, will invest 6 M USD to selected internet ventures in three years.

Aslanoba Gıda A.Ş. CEO, Hasan Aslanoba, has become a partner to Etohum A.Ş by investing 1.2 M USD to the company and taking a 10% stake from Etohum A.Ş. The investment amount, which will be increased to 3 M USD in three years, will be used for supporting entrepreneurs during the first stages of their start-ups. Hasan Aslanoba, together with Etohum A.Ş., will also invest another 3 M USD to 30 startups selected and partnered by Etohum.

The application period for Etohum A.Ş.’s investment support starts in June and lasts until the end of December.

How does Etohum process work?

Etohum is an organization that aims to support entrepreneurs focused in the new economy and speed up the establishment of their own websites by making the first investment during the process. Early-stage ventures, internet entrepreneurs who have started their own startups, launched their own products or websites, and entrepreneurs with an idea or knowledge about internet, ecommerce, software development, and mobile environments can apply to Etohum for support.

40 startups are selected each year from among thousands of new entrepreneurs with the support of the leading players in this market. Following the selection process by angel investors, the number of startups on ecommerce, mobile, game, software is reduced to 15. These selected high potential entrepreneurs of Turkey attend the next Etohum camp where the leading internet companies of Turkey along with investors attend and mentor the selected entrepreneurs. Etohum makes the first investment to these selected ventures.

Etohum has been providing mentoring services, support and seed funding to entrepreneurs during the start-up stage since 2008. In this 5 year period Etohum selected over 200 early stage startups to provide support for entrepreneurs via over 200 meetings and conferences. Grupanya, Balerin, Evidea, Pembepanjur, İndirdik, Infodif, Ehil, Gamester, Userspots, Connected2me and Dekoreko are just a few of those internet companies that has been chosen by Etohum and become successful over the period. With over 300 mentors and 40 angel investor club members, Etohum continues to work for the success of entrepreneurs.

About Hasan Aslanoba

Hasan Aslanoba started his business life in 1989 in Erikli, a water bottling company founded by his father in 1965. By 2005, Erikli brand has captured the leadership of the market in terms of value and volume in both HOD and retail segments. Between 2004-2006, Aslanoba served as the head of SUDER, the industrial association of water bottling companies in Turkey.

In 2006, he merged Erikli water business with Nestle Waters Turkey and became the Country Business Manager (CBM) of the new joint venture (JV), apart from being a local partner. During Aslanoba’s tenure in JV, great results have been achieved. In a highly competitive market arena, JV has reached to a market share as twice of the nearest competitor.

He also continued his own investments for various Aslanoba businesses that are mainly focused in e-grocery, real estate, fruit juice, concentrate, plantation, breeding, meat and e-logistics. In order to focus more on Aslanoba businesses, he has decided to leave the CBM position in JV by May 31, 2012 while staying as the “Chairman of the Board” and remain as the shareholder in JV.

Umut Ersoy

Marjinal Porter Novelli

─ June 10, 2013