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From The Bay Area To The Bosporus: Getting To Know The Istanbul Startup Scene

Jessica Stillman, Contributor

I write about careers, the future of work & generational differences.

A veteran of the Bay Area startup scene relocates to Istanbul and reports back on the pluses and minuses of working among the city’s vibrant community of young entrepreneurs.

Why would a young woman with a great gig as a VP Marketing at a mobile e-commerce company in San Francisco pack up and move halfway around the world to work at a startup in Istanbul? And what did she find when she arrived in her new city on the water (this time the Bosporus rather than the Bay)?

Forbes asked Peri Kadaster, now head of strategy and marketing at mobile software company Pozitron, about making the move from the Bay Area to Turkey and got the inside scoop on what the startup scene in her new city is like.

How big is the startup scene in Istanbul?

A lot of people are surprised at the size of its startup scene. Turkey is a country of 75 million people with a very young and increasingly educated population, so it’s ripe for cultivating entrepreneurs. In recent years one of the biggest advances has been in the institutional support for entrepreneurs. Endeavor, for example, is an incredible worldwide organization that is phenomenal in providing mentoring and support to the startup ecosystem. Several of the leading technology companies – including Pozitron (where I work) – have started out with strong ties to the Endeavor program.

In addition several incubators and angel networks have been increasingly active, including eTohum(Turkish Y Combinator), Galata Business Angels(founded by first generation internet entrepreneurs), and numerous university Technoparks (which provide tax incentives for office space). Several of the leading universities in Istanbul have programs aimed at promoting entrepreneurship. I would say over the past decade, there has been a step function acceleration of not only the number of entrepreneurs but also the maturity of the surrounding ecosystem.

Is it focused on any particular niche or sector?

Several of the players I am most excited about are in e-commerce (e.g., flash sales – Trendyol andMarkafoni are the biggest examples) and other forms of commerce (food delivery, such as Yemeksepeti). When eBay acquired GittiGidiyor for 200 million USD, it highlighted to the global market that Turkish startups can drive meaningful value.

The services industry is another area that is seeing a lot of attention. Turkey has a large, relatively low-cost, word-of-mouth based market around services. Now, as people have gotten more comfortable with e-commerce, businessmodels that bring aggregation and transparency to these markets are emerging (for example, Favoreat brings together people who cook with people who want home-cooked food).

What are the top challenges startups there are facing?

One area where Turkey is not as well developed is in institutional investors. Most domestic investment originates from large banks and/or conglomerates, and more recently private equity firms have entered the mix. But venture capital (as well as angel investment) is still a relatively nascent field in Turkey, so a lot of the VC investments that do take place are foreign in origin. That presents its own challenges, like getting on the radar of investment firms around the world, but also presents opportunities for firms abroad who are looking for diamonds in the rough.

Another challenge is that the equity-based ownership and compensation model is in early stages in Turkey. Partially due to legal complexity, while some firms offer profit-sharing, the idea of compensation tied to equity is rare. As a result, there is competition for talent with later-stage firms who can provide more cash compensation, without the issue of equity dilution. A third challenge is copycats. After Groupon GRPN -0.49% debuted in Turkey, within a few months there were 126 “clone” companies, most of which had no business model. The threat of imitation can be a barrier to entrepreneurs looking to test new concepts.

I think the biggest challenge to Turkish entrepreneurship is actually cultural. Turkey is in the shadow of larger, more western markets like the United States. One of the things that surprised me the most is that Turkish entrepreneurs often don’t give themselves enough credit. Put another way: there is a deep-seated fear of failure. Whereas in Silicon Valley it’s in some way a badge of honor to talk about past business failures, in Turkey there is still a stigma attached to shuttering a business.

What are the biggest advantages of starting up in Istanbul?

Turkey is located at the intersection of Europe and Asia, making it logistically a fantastic gateway for interaction with other markets. Istanbul’s 3-4 hour flight perimeter covers Dubai, Doha, Moscow, London, Berlin, Cairo, and Paris, making it an ideal location for client service and multinational operations. The population is well-educated, with over 50 universities and a vibrant expat culture.

Turkey has leapfrogged many other western countries in the speed of internet and smartphone penetration. Turkey is consistently cited as one of the most engaged markets by social media outlets, so we are lucky to have a population that is not only comfortable but highly engaged with new technologies. This makes it a phenomenal playground for rolling out new businesses. Lastly, there is a phenomenally supportive ecosystem that has emerged around entrepreneurship in Istanbul. There has been a “reverse brain drain” since the 2008 US financial crisis, where highly educated Turks are often returning to start entrepreneurial ventures.

You came from the Bay Area, so what are the biggest contrasts with the scene there you’ve noticed?

There are many similarities between Istanbul and the Bay Area – every week there are countless happy hours, conferences, and other events. There is an energy that is palpable. The biggest contrast is that Istanbul lacks some of the physical hubs so prevalent in the Bay Area, whether it’s the ballpark area in SoMa or University Avenue in Palo Alto, the Bay has neighborhoods that make it very easy for companies to interact and exchange ideas. Coworking spaces and hubs are relatively nascent in Istanbul.

Do you run into any misconceptions about the ecosystem in Turkey and, if so, what are they?

Unfortunately misconceptions about Turkey are a daily fact of life. One of the biggest misconceptions is a cultural lack of awareness of what Turks are like. When partners from the United States visit Pozitron’s Istanbul office for the first time, they are usually blown away at how “western” it is. Scores of 20-something developers in flannel shirts and jeans, gadgets like 3D printers andGoogle GOOG +1.38% Glass strewn for experimentation and breaks, free food and drinks, stand-up desks and yoga ball chairs. Looking at the people and at the environment you could easily mistake us for countless other companies in the States. But many people do not know what to expect, so that is an issue.

The Turkish government also has done a disservice to the startup ecosystem. As a result of the authoritarian crackdown on peaceful protesters in Istanbul earlier this year, many foreigners perceive either the ecosystem or the country as troubled.

Is there anything else you’d like American readers to know about startups in Istanbul?

Every single day I get asked why I moved from San Francisco to Istanbul. I encourage anyone excited about entrepreneurship to visit both San Francisco and Istanbul. What I’ve seen in Istanbul has blown me away in terms of the level of talent around innovation and product development. There is zero doubt in my mind that Istanbul will continue to emerge as one of the global capitals of entrepreneurship in the years to come.

Photo credit: Wajahat Mahmood via Flickr.

https://www.forbes.com/sites/jessicastillman/2013/11/25/from-the-bay-area-to-the-bosporus-getting-to-know-the-istanbul-startup-scene/

November 26, 2013
Istanbul, Turkey: Last Minute New Year’s Eve Destinations – Cities

Istanbul, Turkey

Here’s the thing about flights: A seven-hour hop from New York to Amsterdam feels no shorter than a 10-hour jump to Istanbul. This is especially true on Turkish Airlines, which offers excellent service on its long-haul straight shot between the Big Apple and Byzantium. Strangely, travelers won’t find themselves sharing a row with tourists. Istanbul gets quiet in winter, which is why the holidays are a perfect time to visit. On New Year’s Eve, the lines to get into the Hagia Sophia (once Aghia Sofia, a Greek Orthodox basilica, and later a mosque) and the Blue Mosque (named for its incredible blue tiles), twin monuments to the Muslim present and what was once the center of the Holy Roman Empire, turn into short processions, and the gem, gold, and leather dealers in the Grand Bazaar are more likely to cut you a deal. Come evening, count down with the young people on Istiklal Street in the trendy Beyoglu neighborhood, where singing and dancing in the streets is strongly encouraged by wandering accordion players.

Take advantage of the off-season rates on hotels in tony Sultanahmet and spend the big night in luxury at the Four Seasons for $700, then head to your appointment at Acemoglu Hamam, one of the city’s more respected baths. On your way between your comfy bed and a century-old steam room, be sure to grab a sahlep from one of the vendors yelling happily at the well-mannered street dogs in Sultanahmet Park. The creamy drink is incredibly tasty and the perfect antidote to the chilly wind blowing off the Sea of Marmara. If snow falls, consider it a scenic bonus.

via Istanbul, Turkey: Last Minute New Year’s Eve Destinations – Cities – MensJournal.com.

November 23, 2013
Istanbul, The City That Never Fails To Captivate Visitors

By Kurniawati Kamarudin

The writer at Bosphorus. Foto Bernama

ISTANBUL (Bernama) — It is certainly an enchanting experience for visitors at Istanbul’s Camcila Hill, thanks to the magnificent panorama of the Bosphorus below, the narrow strait that literally divides Europe and Asia.

Standing at the top of the tranquil hill and facing towards the European continent, one will definitely be mesmerised with the beautiful edifices of Istanbul, a city that traces back its origins to the days of the Roman, Byzantine and Ottoman Empire.

Camcila Hill, with an elevation of 268 metres from the sea level, is one of the seven hills around the capital city that beckons visitors and locals alike to enjoy the fresh air and breathtaking view.

At night, the lights of the buildings and streets of Istanbul below along the Boshporus coastline creates a romantic atmosphere for those viewing from the hill.

Turkey has everything that a traveler seeks – architecture, history, culture, heritage, nature and food and therefore it is not surprising that the country has been attracting visitors since time immemorial.

MALAYSIA’S MISSION IN TURKEY

Therefore it is not surprising that Turkey is the seventh most visited place in the world in 2012.

Istanbul though an ancient city, its dwellers have embraced modernity like seen in European nations today.

The city that was known as Constantinople during the Roman period now has a population of 17 million.

Malaysia’s Minister of Tourism and Culture Datuk Seri Mohamed Nazri Abdul Aziz was there recently to lead the efforts to woo the Turks to Malaysia with the promise of luxurious tours at affordable prices.

The ministry in fact had reopened the Tourism Malaysia office in Istanbul in 2011 after closing it in 2009 and the office is expected to play a crucial role in bringing in the targeted 13,000 Turkish visitors to Malaysia during the Visit Malaysia Year 2014.

SAILING ALONG BOSHPHORUS

A travel itinerary to Istanbul is incomplete without cruising along the Boshporus, the only passage between the Black Sea and Mediterranean.

Boats and ferries ply tourists along the narrow strait with the spectacular view of the historical edifices like the Palaces of Dolmabahce, Sariyer, Kanlica and Kubu Rumeli along the shore.

Two bridges across the strait – Bosphorus Bridge and Sultan Mehmet Fatih bridge – connects the European and Asian continent from above while the recently opened 13.6km undersea railway tunnel connects both sides from below.

THE BEAUTY OF DOLMABAHCE PALACE

There are many historical edifices that stand majestically in Istanbul even today, and one of them is the Dolmabache Palace.

Get into the Dolmabache Palace, that served as the administrative nexus of the Turkish Republic from 1856 to 1922, and one will be awed by the intricate gold carvings and unique architecture.

It covers an area of 11.2 hectares with 285 rooms and 55 halls.

The glitter of the world’s biggest Bohemian crystal chandelier, a gift from Britain’s Queen Victoria, greets visitors stepping into the palace’s main chamber. The chandelier has 750 bulbs and weighs a whopping 4.5 tonnes.

Built during the reign of Sultan Abdul Mecid I, the 30th Ottoman ruler from 1843 to 1856, the opulent palace was the home for six rulers and their families.

GETTING TO THE HEART OF ISTANBUL

And one who arrives in Istanbul will never miss the beautiful blue mosque, also known as the Sultan Ahmad Mosque, a testament that Turkey is an Islamic state.

Built between 1609 and 1616 during the reign of Sultan Ahmad 1, it is another brilliant architectural masterpiece by Sedefkar Mehmed Aga that showcases the might of Islamic architecture.

The mosque still stands strong and it is also known as the Blue Mosque because of the 20,000 blue ceramic tiles that adorns the walls within.

There are six minarets and no less than 30 domes providing a majestic appearance on the landscape, a perfect magnet for camera totting tourists. Still a functional mosque, the entrance is free including for non-Muslims but one has to be properly attired.

THE HAGIA SOPHIA

About 500 meters from the Blue Mosque, sits the Hagia Sophia (Aya Sofya) that was initially a church, later a mosque and now a museum.

Paying TRY 25 (RM40) for a ticket, visitors could witness the Islamic and Christian heritage within the same ancient structure.

Built during the Roman era around 537 AD, it served as the world’s biggest church for almost a millennia, until Sultan Muhammad Al-Fatih conquered Constantinople and converted the church into a mosque.

However he preserved the Virgin Mary’s mural on the wall and today it can be seen along with Islamic verses. Hagia Sophia stands testament to the fact that both religions once co-existed in Turkey.

Istanbul still has many other attractions to offer including the Topkapi Palace that could accommodate 4,000 people within and located close to Boshporus.

From an abode of the Ottoman rulers for almost 400 years, the palace now serves as the museum with many valuable artifacts including the sword of Prophet Muhammad.

SHOPPING IN TURKEY

Istanbul has lots to offer for shoppers as well. Turkey is known for its carpets and they can be found at the oldest market built in 1461, the Grand Bazaar.

The bazaar has more than 4,000 shops selling numerous items like pashmina scarfs, ceramic and copper items, sweets and many more. But good bargaining power is needed here as traders intentionally set high prices for their goods.

Then there is the smaller Spice Bazaar in Fatih, the trademark items here are the spices like saffron, pulses and dried fruits.

While in Istanbul don’t forget to savour the ‘Chai’, the traditional Turkish Tea. Tea drinking is literally a culture here.

And finally one should not forget the colourful and delicious Turkish sweets, that adds to the sweet memories of any traveler who has been to Istanbul.

— BERNAMA

November 16, 2013
Istanbul – where history meets magic

Aslihan Agaoglu
Last updated: October 26, 2013

Istanbul – where history meets magic

I love Istanbul because it stands against what is portrayed of East and West today: two different worlds, far away from understanding each other, writes Aslihan Agaoglu about her hometown.

The traffic is hectic, as always, and I am in my car trying to cross the Fatih Sultan Mehmed Bridge, aptly named after the Ottoman Sultan who conquered Istanbul in 1453, at the age of 21. It’s a sunny day; the blue sky stretches over and meets the blue waters of Bosporus at the horizon. Ahead I can see the big yellow sign that says, “Welcome to Asia.” I am literally crossing continents to have lunch at my grandma’s house and I’ll be back home for afternoon tea. This is possible in one city in the world: Istanbul.

I was born and raised in Istanbul and I have to admit that it is not the easiest place to live in. It is overpopulated, with over 13 million people according to the Turkish Statistical Institute, it is noisy, polluted and has a tendency to test your patients on a regular basis. But it is also a magical city, bursting with stories and history, that never creases to surprise you, which might explain why so many people want to live here.

When I was in primary school, learning about the life of Mehmed II, Mehmed the Conqueroras he was known, our teacher took us on a field trip to Hagia Sophia. I still remember the fascination I felt the first time I walked through its door and stood under the magnificent dome. Hagia Sophia, meaning ‘Holly Wisdom’, served as an Orthodox patriarchal church from 360 to 1452, until Mehmed II conquered the city. When he saw Hagia Sophia, he must have been just as fascinated as I was because he did not demolish it, instead he converted it to a mosque and attended its first Friday prayer on 1 June 1453.

“I am literally crossing continents to have lunch at my grandma’s house and I’ll be back home for afternoon tea”

Hagia Sophia, or Aya Sofya as it is known today, became the first imperial mosque of Istanbul and it served as inspiration for many other Ottoman mosques. It is considered the archetype of Byzantine architecture and is said to have changed the history of architecture. When you walk in, the grand structure takes your breath away and even though it was converted into a mosque, it still gives you the feeling of a cathedral with its basic skeleton. It was made a museum by Mustafa Kemal Ataturk, the founder of the Republic of Turkey on 1 February 1935 and continues until this day to serve as one, embodying the essence of both Christianity and Islam. In my opinion, the “Holly Wisdom” stands today to represent tolerance in the city that is literally the bridge between Europe and Asia.

If you don’t want to get stuck in traffic, and in Istanbul you are likely to at any hour during the day, your best chance for crossing over to the other side of the city is by sea. You can take one of the famous steamboats, order your tea in one of the traditional thin-wasted glasses and enjoy the scenery for twenty minutes until you arrive. You’ll get to see the old wooden mansions, painted red, yellow and white juxtaposed along the shore line, the Dolmabahce Palace and of course that tiny little building in its very own tiny little island, standing between two continents. That lonely looking building is the Maiden Tower, now a restaurant and very popular for romantic marriage proposals, but there is a myth behind it that is known by almost all Istanbullians.

The Maiden’s Tower belongs to the medieval Byzantine period and legend has it that it was built by a Sultan to protect his beloved daughter from an awful prophecy. One day, an oracle shows up at the Sultan’s palace and prophesises that a venomous snake will kill the Sultan’s daughter when she turns eighteen. The Sultan, desperate to keep his daughter safe, orders his architects to build a small tower that would stand between two lands, hoping no snakes can reach his daughter there and sends her to the tower before she turns eighteen. On the day of her eighteenth birthday, the Sultan brings his daughter a basket of exotic fruits but little does he know that there is a venomous snake hiding beneath the basket. When the princess reaches in to take a fruit, the snake bites her finger and she dies, just as the oracle prophesised, in her father’s arms.

Even if you are not the one for myths and prophesies, Istanbul has something magical to offer. How about a visit to the Istanbul Archaeology Museum, where over one million objects are represented, almost all of the eras and civilizations in world history? You can see parts of statues from the Temple of Zeus, The Troy exhibit, artefacts from the early civilizations of Anatolia, Mesopotamia, Arabia and Egypt and my personal favourite: the world’s oldest love poem!

The inscription on the tablet, according to the Archaeology Museum:

“Dating from the 8th century BC and belonging to the Ancient Babylonian Era, is described as the world’s oldest known love poem. According to the Sumerian belief, it was a sacred duty for the king to marry every year a priestess instead of Inanna, the goddess of fertility and sexual love, in order to make the soil and women fertile. This poem was most probably written by a bride chosen for Shu-Sin in order to be sung at the New Year festival and it was sung at banquets and festivals accompanied by music and dance.”

Today, people from all kinds of ethic, religious and cultural backgrounds live under the same sky of this ancient city. History gushes out from every corner, a common history that comes together like a mosaic with many colours, and it tells us that we are connected to each other through this shared history. I love Istanbul because it stands against what is portrayed of East and West today: two different worlds, far away from understanding each other. Istanbul shows me that there could indeed be a bridge between East and West, a better understanding and a chance to make a better history for the next generations.

Aslihan Agaoglu @Asli_Agaoglu

Aslihan Agaoglu was born in İstanbul and worked as a lawyer before she moved to England, where she did her MA in creative writing at the University of Kent. She is currently completing her Ph.D. at the department of Middle Eastern studies, King’s College London.

Source: http://www.yourmiddleeast.com/travel/istanbul-where-history-meets-magic_18954

October 28, 2013
5 new reasons to visit Istanbul

5 new reasons to visit Istanbul

Oct 16th 2013, 14:30 | By Francesca Menato

Make like Kelly Brook and visit the ‘gateway to the East’ – you won’t regret it.

© Getty – Handbag

Beautiful architecture, history and culture galore, food you’ve never heard of and friendly locals – A recipe for a perfect city break.

Kelly Brook was there not long ago enjoying the Bosphorus waterway.

Here are some of the lesser known reasons to visit the honourary capital of Turkey:

1. THE RAINBOW STEPS

The story of Huseyin Cetinel and his rainbow steps has to be one of the nicest we’ve heard.

A retired forestry engineer dedicated four days and around $800 of his own money to painting a huge set of public steps rainbow colours in the Findikli and Cihangir area in honour of Gay Pride this year.

The community was thrilled with the colourful addition to the landscape but the right wing mayor was not – The steps were painted over in grey over night.

The backlash was so intense that new rainbow steps appeared across the area and the original steps mysteriously returned to their former multi-coloured glory as government workers repainted them over night.

© Instagram / Francesca Menato

Who doesn’t like rainbow steps?!

2. CHAI AND CHECKERS

There’s no better medicine for a weary traveller than a nice cup of tea. In Turkey it comes small, without milk and if you like,apple flavour (this tastes quite like hot jam).

Near tourist areas a cup will cost you three to four Lira but if you go off the beaten track you shouldn’t be charged more than one, which is a little more than 30p!

These quiet spots are said to be for men to play games – checkers and bat gammon boards are on most outdoor tables – but don’t worry women are entirely welcome and comfortable.

3. MACKEREL WITH A VIEW

The Galata Bridge is teaming with fisherman so it’s only right to sample a catch.

There are amazing street food sellers on the side nearest to the Galata Tower who fry up mackerel with spices and add salad to create a delicious sandwich for around £2.

Wander down to the water’s edge to the west of the bridge for a perfect spot to sit with your food.

© Instagram

Enjoy a fresh fish lunch looking over at the New Mosque

4. SWIMMING SPOTS

Despite all the water, Istanbul is not known as a place to go for a dip.

The main waterway is the domain of boats and fisherman.

However you can make trips to the nearby Princes’ Islands, known to locals as simply “The Islands” for a rest-bite from the city madness and clear waters you can swim in.

Ferries run daily and if you’ve visited during the summer heat you’ll be very happy to make the short trip – just pick which ones you want to see.

5.JUNK SHOP MEANDERING

The area of Beyoğlu is teaming with junk and thrift shops.

It is the perfect place to walk around taking in the local spirit and marvelling and the amount of ‘vintage’ that can fit in one store.

Stick to streets on the South-East of the Istiklal and enjoy getting lost.

Remember to haggle the vendors down as things often aren’t priced.

© Instagram / Francesca Menato

Most things in the junk shops won’t have prices so don’t be afraid to haggle.

KELLY BROOK SUFFERS BIG BAD HAIR DAY IN ISTANBUL

October 19, 2013
Pamukkale for Liquid Relaxation the Turkish Way

Posted on March 14, 2012 by Laurie Balbo

Think Egypt’s White Desert meeting Mont Blanc.

Three days of heavy snowfall hit downtown Amman, fat flakes screaming for clothes not found in our closets. Schools shut and offices closed. Icy roads wrought havoc on the annual Dead2Red bike and running race. Park aside historical significance, religious connotation, and cultural pride: I say this waterbody’s main value is as an organic stress-reducer for Egyptians and Jordanians, and for tourists from everywhere else drawn to its salt-encrusted shores.

Wade, float, gaze at its gorgeousness and feel your muscles go slack, your pulse settle into a kitten’s purr at the Dead Sea. So with local weather so unpredictable and a school break looming, I poked around for alternative de-stress-tinations with a warm water theme. Say hello to Pamukkale, Turkey.

Natural relaxation’s most excellent Plan B. Pamukkale is a surreal natural hot tub growing in southwestern Turkey. It’s a series of brilliant white travertine steps, fanning across a hilltop, filled with a continual stream of heated mineral water from 17 natural hot springs. It promises to be as revivifying to the body as it is to the soul.

For over 14,000 years, calcium carbonate (CaCO3) contained in the flowing waters has coated the outcropping in a sparkling white icing. This mineral is the main ingredient in pearls and eggshells, and it supersaturates these waters.

The water off-gasses carbon dioxide when it hits the surface, in turn depositing the CaCO3 on the pool beds. The CaCO3 solidifies over time, expanding the terraced structure. Pool temperatures vary from tepid to boiling.

People have bathed here for millennia: the water has therapeutic qualities and since antiquity has been used to treat eye and skin diseases, high blood pressure and heart disease. Unlike the Dead Sea, here you can splash with abandon, dunk your head, and open your eyes underwater.

Tourism is big business in Pamukkale, whose name means “cotton castle” in Turkish. Located about 12 miles north of the town of Denizli, it’s also home to the Byzantine/Greco-Roman city Hierapolis which was built in the 6th century BCE. The ruins cover an extensive area. Over time, as the pools enlarge, they slowly encase the archeology in a crystalline white crust.

The site had been largely unprotected until 1988 when it was declared a World Heritage site. Previous development had caused considerable damage to both the archeological ruins and the travertine pools. Cars and motorcycles were allowed to traverse the hills and hotels were built on top of the ancient’ remains.

Vehicles are now prohibited and the intrusive hotels demolished. Restorative work continues and protections are in place.

As example, shoes are prohibited when bathing, and many areas are off-limits to foot traffic altogether.

Stark white objects in nature make for arresting visuals. Think Egypt’s White Desert, and Mont Blanc: riveting viewing, but hardly body-friendly. I’ve scraped knees on pale salt-caked boulders edging the Dead Sea, and had Dover Cliffs’ chalk fall on my head. Here’s hoping that Pamukkale proves as easy on my body as it will be on my eyes.

And please, no more freak snow in Jordan.

First and third image by www.ilostravel.con.tr ; second image by www.crainium.net

source : greenprophet

October 1, 2013