TÜBİTAK provides significant support for entrepreneurs to realize their business ideas with BiGG Investment.
1812 Investment Based Entrepreneurship Support Program (BiGG Investment) aims to support the activities of entrepreneurs from the idea stage to the market so that they can transform their technology and innovation-oriented business ideas into enterprises with high potential to create added value and qualified employment, thus encouraging qualified entrepreneurship and creating technology-based start-up companies that can compete in international markets, develop innovative, high-tech products and processes.
Under the program, entrepreneurs are provided with entrepreneurship training, as well as technical, commercial and administrative support from mentors with industry experience.
This program consists of three phases described below for transforming innovative business ideas into commercial products/processes/services. The entrepreneur can complete each stage in order and proceed to the next stage if deemed appropriate by TÜBİTAK.
Phase 1; This is where entrepreneurs present their business ideas to implementing organizations, which evaluate these ideas and provide accelerator services to those with a high likelihood of becoming successful business plans. Implementing organizations, which provide mentoring, networking, training, and other support in this phase, work on the technical and commercial validation of the idea as it transforms into a business plan. Phase 1 is completed on the final submission date for the business plan as specified in the entrepreneurship project support call.
The Number of New Implementing Organizations Serving BiGG and BiGG Yatırım Entrepreneurs Has Increased
Within the scope of TÜBİTAK 1512 - BiGG and 1812 Investment Based Entrepreneurship Support Program (BiGG Investment), the number of new implementing organizations that will serve entrepreneurs in the 2023-2025 period has increased.
13 more organizations were included in the new Implementing Agency model, which was updated with TÜBİTAK's "Developing Together and Achieving Together Approach" and prioritizes sectoral and regional collaborations.
Within the scope of 1601-2022-2 coded 1512 Entrepreneurship Support Program - BiGG and 1812 Investment Based Entrepreneurship Support Program - BiGG Investment - 1st Phase Implementing Organization Call, 13 organizations were included as partner organizations in the projects with the approval of the organizations in the projects decided to be supported. Thus, the number of new Implementing Organizations reached 149.
Of the 149 organizations involved in the 37 supported projects, which reflect the motivation of “Co-Development and Co-Success,” 37 are universities, 10 are university Technology Transfer Office (TTO) units or TTO companies, 43 are Technology Development Zones, 2 are public research centers and institutes, 3 are TEKMERs, 4 are Research Infrastructures, 6 are banks and their affiliates, 5 are venture capital funds or angel investor networks, and 39 are capital companies.
The Implementing Organizations, which aim to develop the entrepreneurship ecosystem by combining their competencies and will carry out the BiGG and BiGG Investment Program 1st phase processes in the 2023-2025 period, will collect and evaluate the technology-oriented business idea applications of entrepreneurs, pre-incubate the business ideas they find suitable, put them through business idea verification processes and support entrepreneurs in preparing qualified business plans.
b) Phase 2; For business plans that are deemed eligible for support as a result of the evaluation and entitled to receive the Seal of Excellence, entrepreneurs are asked by TÜBİTAK to establish a company in accordance with the definition of an organization. The organization enters into an investment agreement with the fund for a maximum of 5% of its shares in return for the amount covered by the support in Phase 2. The Board of Directors may reduce this rate or set a fixed rate lower than 5%. The investment share ratio is announced in the BiGG Investment Call. The fund's investment may consist of a share partnership, convertible debt or both.
The fund may acquire shares during the registration of the organization or may become a shareholder of the organization through a capital increase to be made after the registration of the organization. However, the fund may not become a shareholder of the organization by purchasing shares from the shareholders of the organization. After the capital increase, the share ratio of the fund in the organization cannot exceed the upper limit determined.
Convertible debt is regulated by a separate debt agreement between the fund and the company, prepared in accordance with the "Regulation on the Principles of Venture Capital Investment Funds" published in the Official Gazette dated January 2, 2014, No. 28870.
Following the investment agreement, a project monitoring agreement is signed between TÜBİTAK and the company. Phase 2 includes the conceptual design, technical and economic feasibility, technological development (commercial prototype, demo, simulation, software algorithm, etc.), and the commercialization of the outputs resulting from these activities within the framework of the company's business plan.
c) Phase 3; This phase aims to improve the performance and functionality of the outputs obtained in the previous phase through R&D activities, thereby enhancing their commercialization potential. Phase 3 begins with the company preparing a project proposal and applying to the TÜBİTAK 1507 SME R&D Initial Support Program. The technologically validated project is then evaluated according to the specific criteria of this program. In this phase, activities such as detailed design, improvement of the commercial prototype's functionality and performance, trials, and field tests are carried out. Companies established with support from Phase 2 of the TÜBİTAK 1812 Program or companies that have received Techno-Initiative Capital Support under the Law No. 5746 on Supporting Research, Development, and Design Activities by public administrations within the scope of central government may apply to the TÜBİTAK 1507 SME R&D Initial Support Program within 24 months after the support end date. The provisions of the Implementation Principles of the TÜBİTAK 1507 SME R&D Initial Support Program apply to the processes of supporting, monitoring, and concluding projects under Phase 3.
Phase 3 applications can be made through the online application (Project Evaluation and Monitoring System -PRODIS) at http://eteydeb.tubitak.gov.tr independently of the 1507 Program calls. Phase 3 applications do not need to wait for the 1507 Program calls.
Support Duration
a) In Phase 1, the duration of the activities to be carried out by the implementing organization with the support provided under the TÜBİTAK Support Program for Capacity Building in Innovation and Entrepreneurship is specified in the call for determining the implementing organization.
b) In Phase 2, the support duration for project activities related to business plans, including any extensions, is a maximum of eighteen (18) months.
c) For projects to be supported under Phase 3, the support durations specified in the Implementation Principles of the TÜBİTAK 1507 SME R&D Start-up Support Program are applicable.
Total Budget Covered Under the Seal of Excellence Support
For Phase 1, the provisions of the TÜBİTAK Support Program for Capacity Building in Innovation and Entrepreneurship are applicable, and the amount and content of the support to be provided to the implementing organizations are specified in the call for determining the implementing organization.
For Phase 2, the entrepreneurship project support is up to nine hundred thousand (900,000) TL. The method of providing the support is detailed in the calls issued. A realistic business plan budget that meets the project requirements is expected to be submitted. During the phase 2 panel evaluation process of the program, the budget covered by the support for each business plan will be determined. If the business plan is found to be eligible for support, the support amount determined in the panel evaluation will be transferred to the organization as an investment in exchange for a 3% share from the TÜBİTAK BİGG Fund.
For Phase 3, the provisions of the TÜBİTAK 1507 SME R&D Start-up Support Program are applicable.
Documents for TÜBİTAK BİGG Fund Investment Processes:
Candidates engaged in technology and innovation-focused entrepreneurship activities, who meet the qualifications specified in the call and are registered students or graduates of any associate, undergraduate, master's, or doctoral program at universities as of the pre-application date, may apply.
The entrepreneur must not have received support from the Ministry of Industry and Technology's Technological Entrepreneurship Capital Support or Phase 2 of the TÜBİTAK 1512 Program and must not be a partner in any enterprise as of the pre-application date.
In Phase 1, business idea applications are made to the Implementing Organizations determined by the 1601 Program call. In Phase 2, business plan applications will be submitted through the PRODİS application by the entrepreneur who was successful in Phase 1. Entrepreneurs approved by the Implementing Organizations through PRODİS can apply for Phase 2. It may be beneficial to prepare the following Phase 2 business plan application documents as drafts before applying.
AGY112 Business Plan (To be used as a preliminary information form during the call process and for draft work before the online application.)
The entrepreneur submits the business plan for Phase 2, prepared with the support of the implementing organization, according to the schedule of the Investment-Based Entrepreneurship Support Program call through the Project Evaluation and Monitoring System (PRODİS) application at http://eteydeb.tubitak.gov.tr (with or without a secure electronic signature). Information about the application process is available on the above-mentioned website of the PRODİS application.
For detailed information on the application, evaluation, monitoring, and conclusion processes of the program, the "1812 - Investment-Based Entrepreneurship Support Program (BiGG Investment) Call Announcement" and the "1812 Investment-Based Entrepreneurship Support Program Investment-Based Entrepreneurship Support Program Rules and Regulations" should be reviewed.
Business plans submitted to Phase 2 are evaluated by the panel method. The following three dimensions (with equal weight) are considered in the panel evaluation of the business plan:
a) The technological level and innovative aspects of the business plan,
b) The suitability and feasibility of the business plan,
c) The commercialization potential of the business plan.
In Phase 1, the business ideas submitted by entrepreneurs are evaluated by the implementing organizations supported by the 1601 Program call using the methods deemed appropriate by TÜBİTAK.
Business plans submitted to Phase 2 are evaluated by the panel method. Business plans are evaluated in panels determined by TÜBİTAK, with the participation of at least three panelists. TÜBİTAK also appoints a moderator for each panel. After the evaluations and discussions are completed, a panel opinion is formed regarding the business plan, and a Panel Common Report is prepared.
The entrepreneur submits the AGY312, containing the periodic activities of the business plan, to TÜBİTAK no later than the end of the second month following the completion of the realization period. The business plan is subjected to a preliminary evaluation by the TEYDEB project technical expert in line with AGY112, the contract, and any guide report, if available.
TÜBİTAK evaluates the AGY312, with the help of a monitor when necessary. The monitor prepares a monitor report, indicating their opinions and suggestions on the progress of the business plan, the gains, and other similar issues, based on the AGY312, AGY112, the notes provided by TÜBİTAK, and the on-site visit to the organization. The monitor's evaluation is obtained with the monitor report prepared after the monitor's on-site visit to the organization. If the activities for the period to be evaluated by the monitor were completed before the monitor's previous visit, the monitor may be asked to conduct an evaluation without visiting the organization, or if the evaluation for this period was indicated in the previous period's monitoring report, the previous period's monitoring report may be considered without a new monitoring report. TÜBİTAK may assign its experts to conduct inspections at the supported organization if necessary. The periodic monitoring results are evaluated by the Group Executive Board and reported to the fund.
Completion of the Project Monitoring Process and Commercialization Process
The results of the commercialization activities carried out during the last period of the monitoring process and the commercialization monitoring period of the projects supported within the scope of the program are monitored, evaluated, and the success status of commercialization is used in evaluating future project applications. The method of using the qualitative and/or quantitative results of the commercialization monitoring process in future project applications is determined by the TÜBİTAK President and published on the TEYDEB website.
To evaluate the commercialization plan, TÜBİTAK appoints a commercialization monitor. The commercialization monitor visits the organization on-site, evaluates the commercialization plan, and if submitted, the commercialization report, and sends the commercialization monitor report to TÜBİTAK. TÜBİTAK may also request the commercialization monitor to prepare the commercialization monitor report without visiting the organization.
The organization may indicate, by providing justification, that it does not wish to submit a commercialization report during the commercialization periods. In this case, additional information may be requested from the organization if necessary, and the relevant Group Executive Board evaluates the appropriateness of the request. If the request is not found appropriate, the commercialization for the relevant project will be considered unsuccessful. This situation may be included as a negative evaluation criterion in new project applications from the organization.
For projects where the project monitor indicates that the technological work of the project has been successfully completed and the commercialization monitor finds it appropriate to obtain the commercialization report after evaluating the commercialization plan, the commercialization monitoring process is initiated. To start the commercialization monitoring process for the project, the project monitor must first confirm that the technological work of the project has been successfully completed. Additionally, the commercialization plan to be obtained in the last period of the project must be evaluated by the commercialization monitor, and the commercialization report must be found appropriate.
The organization, for which the commercialization monitoring process has been initiated, submits the commercialization report for each commercialization period by the end of the first month following the end of the year.
The commercialization reports are sent by TÜBİTAK to the commercialization monitor. The commercialization monitor visits the organization on-site, evaluates the commercialization report, and sends the commercialization monitor report for the relevant commercialization period to TÜBİTAK. TÜBİTAK may also request the commercialization monitor to prepare the commercialization monitor report without visiting the organization.
The business plan progress reports (AGY312) are subject to a preliminary evaluation by the TEYDEB project technical expert in accordance with the Business Plan (AGY112), Project Monitoring Agreement, and the Seal of Excellence letter.
The monitor's evaluation is obtained through AGY412, which will be prepared after the monitor's on-site visit to the organization.
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In Phase 2, the project budget determined during the panel evaluation of the business plan that qualifies for the Seal of Excellence will be transferred to the organization as an investment of up to a 5% share from the TÜBİTAK BiGG Fund, which operates under Venture Capital Investment Funds in accordance with the Capital Markets Board regulations or within the scope of the Türkiye Development Fund and its sub-funds established under the Law No. 7147 dated 11/10/2018 regarding the Türkiye Development and Investment Bank. The share percentage will be specified in the calls issued. For the 2023-1 BiGG Investment call, it will be transferred to the organization as an investment in exchange for a 3% share.