Akbank Venture Building Program: Akbank+ Qorus-Infosys Finacle Banking Innovation Awards 2024- Nominated

As one of the largest banks in Turkey, Akbank transformed its intrapreneurship program radically two years ago to strengthen the innovation culture within the bank and encourage Akbank employees to become innovators. Designed with this purpose, Akbank+ is the first full-time intrapreneurship and spin-off program in Turkey. Program is unique for innovation ecosystem in Turkey for enabling employees to develop their own business ideas full-time while keeping all of their employee benefits.

The inspiration behind Akbank+ Program has been addressing intrapreneur challenges as well as initiating a cultural transformation at 76-year-old Akbank. Akbank+ Program has been designed and is being executed by Akbank LAB, Akbank’s Innovation Center. Even though Akbank LAB initiatives succeeded to transform Akbank’s traditional brand image in the market, Akbank employees lacked the motivation to innovate. Aligned with this vision, Akbank+ Program allows Akbank employees to develop on their own ventures, receive trainings, have real-world application and eventually, gain investment from Akbank.

Akbank offers end-to-end complete support to all Akbank employees with an entrepreneur mindset regardless of their background and previous experience. In addition, no external startups or entrepreneurs are included in program to avoid any unfair conditions that may arise from startup maturity difference as well as to prioritize resources for the development of intrapreneurs.

Akbank+ Program is conducted in collaboration with the Human Resources department. HR enables employees to keep all their employee benefits throughout the program, provides them with relevant technical equipment and re-arranges organizational chart to manage organizational roles & responsibilities. Throughout the program, no participants have to manage any workflow process related to their previous job positions, which facilitate them to focus more on their business ventures.

Here are key outcomes from the program: • In its first term, two spin-offs, which received a generous 500K USD each, pursue their businesses to transform the market. The first company is Voltla, an app, which allows users to see all the EV charging stations from one screen, provide routes to the stations and enables payment. By the end of first year, Voltla is currently being used by almost 50% of all Turkish electric car users. The second spin-off company is Waste Log, which digitalizes the waste management systems for companies to make it easier to track. Individual users are also able to log their oil, electronic and battery waste to be picked up. As the first term alumni of the Akbank+ program, Voltla and Waste Log create social and environmental impact as well as powering the Turkish start-up ecosystem.

• In its second term, an additional 400K USD investment is underway for another spin-off. This recent investment decision has not been announced yet.

• 24 employees have been or 3 employees soon-to-be assigned the “Innovation Ambassador” title to work closely with Innovation Centre for developing new innovative products at Akbank. Akbank+ Program led to an increase in the number of ambassadors who are familiar with innovation methodologies. Previously, Akbank LAB had the challenge of collaborating with other business units to ideate innovation projects.

• 3 employees specified that Program aided them discover their talents and passions. They were offered new job positions within the Bank, aligned with their new career objectives.