Sabancı University Integrated Manufacturing Technologies Research and Application Center (SU-IMC) researcher Burcu Saner Okan was an invited speaker in Graphene Week 2017, held as part of the Graphene Flagship Project in Athens between October 25 and 29, 2017. Being the largest graphene convention in Europe, Graphene Week 2017 included 30 invited speakers and 400 poster presentations aimed at an audience of over 700 people. 

 Speaking in the Innovation Forum, Burcu Saner Okan discussed a joint project between Nanografen, a Sabancı University startup, and Farplas A.Ş. that is slated for mass production in 2018 under the subject “graphene commercialization”. The project involves the recovery of graphene from waste tires and its integration in automotive plastics for lighter and more resilient parts.

Also featured in Graphene Week 2017 was a graphene-reinforced clarinet, whose nanomaterials were made by Nanografen, and production and sales undertaken by Akıneri Musical Instruments. 

Contributing to the efforts for the commercialization of graphene are Faculty of Engineering and Natural Sciences Dean and Nanografen Founding Partner Professor Yusuf Menceloğlu and SU-IMC Researcher Dr. Jamal Seyyed Monfared Zanjani. 

IICEC 8th INTERNATIONAL ENERGY AND CLIMATE FORUM

GLOBAL ENERGY INVESTMENTS: WHAT'S NEXT?

SABANCI UNIVERSITY FOUNDING BOARD OF TRUSTEES CHAIR GÜLER SABANCI: 

"WE CANNOT ACHIEVE CONSISTENT GROWTH UNLESS WE DEVELOP SUSTAINABLE ENERGY SOLUTIONS" 

"SECURITY OF SUPPLY AND SUSTAINABILITY MUST BEAR EQUAL WEIGHT" 

"POSITIVE STEPS MUST CONTINUE TO ENSURE PREDICTABILITY, COMPETITIVENESS AND EFFICIENCY IN THE ENERGY MARKET" 

"WE NEED TO BUILD A PRICING MECHANISM THAT IS BASED ON DYNAMICS SUCH AS SUPPLY, DEMAND, COST, EFFICIENCY, AND TECHNOLOGY" 

"THE ENERGY SECTOR NEEDS NEW TECHNOLOGIES AND INNOVATIVE MODELS FOR SUSTAINABILITY"

MINISTER OF ENERGY AND NATURAL RESOURCES BERAT ALBAYRAK: 

"THE DEMAND FOR ENERGY IS RAPIDLY SHIFTING FROM THE WEST TO THE EAST DUE TO ECONOMIC GROWTH"

 INTERNATIONAL ENERGY AGENCY (IEA) EXECUTIVE DIRECTOR AND SABANCI UNIVERSITY ISTANBUL INTERNATIONAL CENTER FOR ENERGY AND CLIMATE HONORARY CHAIR DR. FATİH BİROL: 

"1.7 TRILLION US DOLLARS WERE INVESTED IN ENERGY WORLDWIDE IN 2016" 

SABANCI UNIVERSITY IICEC DIRECTOR PROF. CARMINE DIFIGLIO: 

"SUCCESSFUL CLEAN ENERGY TECHNOLOGIES WILL BE COMPETITIVE IN THE ENERGY MARKET"

The 8th International Energy and Climate Forum by the Sabancı University Istanbul International Center for Energy and Climate was held on Friday, October 13, 2017 under the theme "Global Energy Investments: What's Next?".

Delivering introductory remarks of the Forum, Sabancı University Founding Board of Trustees Chair Güler Sabancı gave global messages to the energy sector. Sabancı expressed her pleasure in the host of the Forum, IICEC, having been recognized as a global center with its motto “Where global energy connects", continuing:

“As you all know very well, the energy sector is the backbone of economic growth and technological development; it is vital for ensuring the sustainability of societies. Energy is one of the most strategic sectors worldwide due to its connection with global commodities, the majority of industries, geopolitics, and the everyday needs of societies. We cannot achieve consistent growth and welfare for societies unless we develop sustainable energy solutions." 

More than 90% of global energy investments is private 

Reminding the audience that the private sector finances more than 90% of energy investments worldwide, Güler Sabancı said: 

"The keyword here is 'optimization'. The energy sector needs to be optimized around strategic priorities, financial restrictions, diversified energy market models, and the most advanced energy technologies available. When doing so, security of energy supply, competitiveness, economic efficiency, and social and environmental sustainability must bear equal weight." 

Saying that the Ministry of Energy strategy on local and renewable energy resources for better diversity in the distribution network, and their critical steps in extending the security and flexibility of natural gas supply were critical for the industry, Güler Sabancı continued: 

"Expanding the use of local and renewable energy resources improves security of supply while making a great contribution to reducing the current deficit. Initiatives for the efficient use of Turkey's current installed capacity and the modernized use of domestic lignite sources are also important for security of supply. Recent steps like FSRU and storage investments were appropriately timed to improve the security and flexibility of natural gas supply, which is a key component in security of supply for electricity. To take these precious developments further, we expect the liberalization of the natural gas market, predictable pricing for natural gas, and more choice in pricing due to global and regional developments in LNG. We are strongly behind Turkey's vision to expand the role it plays in regional natural gas dynamics." 

90 billion invested in 15 years 

Explaining that the Turkish energy sector attracted 90 billion dollars in investments and achieved a remarkable growth rate in the last 15 years as a result of competitive energy policies as well as efficiency, transparency, and the private sector's confidence in the current and projected future competitiveness of the market, Güler Sabancı continued: 

"We need to develop a predictable, competitive and future-oriented energy market to ensure financial sustainability and the thriving of this strategic industry to contribute to sustainable growth in Turkey. We must continue to take steps toward improving the predictability, competitiveness and efficiency of our energy market that will serve the interests of energy customers and the economy at large." 

Güler Sabancı recommended the following: “We need to build a pricing mechanism that is based on dynamics such as supply, demand, cost, efficiency, and technology.  We need to terminate regulated energy tariffs to this end. This will ensure both competition and better utilization of the energy efficiency potential in Turkey." 

Güler Sabancı argued that the focus of energy issues must not be narrowed down to supply only, continuing: 

“Ultimately, energy efficiency will only benefit us if we have functional and competitive energy markets, and no subsidies or unsound price limitations.  Future-oriented trends like new technologies and innovative business models may bring considerable efficiency and sustainability benefits to Turkey. These solutions may contribute to a more secure, efficient and competitive energy future. We can orchestrate our efforts and cooperation towards better utilization of our potential." 

Minister of Energy and Natural Resources Berat Albayrak 

Minister of Energy and Natural Resources Berat Albayrak said that the global demand for energy would double by 2050, and steps taken towards meeting this demand led to comprehensive shifts in energy balances recently. Minister Albayrak continued: 

"New technologies, persistent innovation and the emergence of new energy resources as a result of access to fields that used to be beyond reach enabled some countries that had been net importers of energy become exporters.

The demand for energy is rapidly shifting from the West to the East due to economic growth. The growth targets set and achieved by China, India, and economies in the Middle East and Southeast Asia, and the diversification they sought in order to achieve their development targets and provide for the needs of their growing industries bear weight in the energy market." 

Minister Albayrak stated that affordable energy was critical to sustainable growth in countries heavily dependent on imported energy, like Turkey, and continued: 

“Since 2002, the Turkish economy has grown by 6% almost every year. Naturally, the growth in the economy brought growth in the need for energy as well. The medium- and long-term energy projections for Turkey are set to ensure security of supply while mitigating our carbon footprint at meaningful levels. In 2016, renewable energy resources accounted for 55% of the new additions to Turkey's installed capacity. A further 64% of the power plants commissioned in the first 8 months of this year were also based on renewables. Turkey was 7th in the world and 3rd in Europe in terms of commissioned wind energy capacity in 2016."

IEA Executive Director and Sabancı University IICEC Honorary Chair Fatih Birol 

International Energy Agency Executive Director and Sabancı University IICEC Honorary Chair Dr. Fatih Birol pointed out that the global investment in energy was 1.7 trillion dollars in 2016, continuing: 

“Global energy investments were lower in 2016 compared to the previous year. There is significant decrease in the oil and gas sectors as well. For the first time in history, investments in electricity exceed those in oil and gas. In other words, electricity is more attractive than oil and gas. Large investors are, of course, US and Europe. However, the leading investment target is China.  The United States had remarkable success in the production of shale oil, and production is likely to increase. The production of shale oil in the US alone is on par with oil production in Iraq. Shale oil becomes a major player in the global oil market.”

Sabancı University IICEC Director Prof. Carmine Difiglio 

Also speaking in the forum, Sabancı University IICEC Director Prof. Carmine Difiglio said that global investments needed to meet the rising global demand, cause less emissions, and provide a return in the ever more competitive global energy market, and continued: 

“National policies must also take into consideration security of supply achieved through use of own resources and diversification of imported energies. One of the best local energy sources available is renewable energy. This is especially true for countries without fossil fuel reserves. Another significant resource is energy efficiency, which we are not used to thinking as a source of supply. However, energy efficiency may become our best resource as it does not require us to build power plants or import oil. There are plenty of opportunities to further encourage energy efficiency.” 

The priority in the energy sector is security of supply and availability of sustainable energy 

Two panels held during the forum discussed "Global Energy Policies" and "Technological Future of Energy." Speakers in the "Global Energy Policies" panel were Christian Berger, Ambassador of the European Union to Turkey; Prof. Jason Bordoff, Founding Director, Center on Global Energy Policy, Columbia University; Ladislas Paszkiewicz, Senior VP Strategy & Climate, TOTAL; Dev Sanyal, Executive Vice President of Regions and Chief Executive of Alternative Energy, BP; and Dr. Vitaliy Yermakov, Head of Center for Energy Policy Research, Energy Institute of Higher School of Economics, Russia. The moderator of the panel was International Energy Agency Executive Director and IICEC Honorary Chair Dr. Fatih Birol.

Ambassador Christian Berger noted that security of supply and availability of sustainable energy were key priorities for the EU, emphasizing the importance of renewable energy resources and the need to reduce the consumption of fossil fuels. Berger also said that they would achieve their greenhouse gas emission reduction targets by 2020. Renewable energy would have a share of 27% in global energy by 2030 compared to only 8% in 2005, said Berger. 

Prof. Jason Bordoff, Founding Director, Center on Global Energy Policy, Columbia University, said that the energy market was prone to undergo great changes in the next decade. Bordoff explained that regulation in energy was not an easy process, and stated that while coal was in categorical decline, reductions in fuel economy standards and subsidies for coal gained importance. Ladislas Paszkiewicz, Senior VP Strategy & Climate, TOTAL, said, “TOTAL’s main purpose is to make affordable, sustainable and clean energy available to as many people as possible."

Technology reduces the cost of solar energy 

Also speaking in the panel was Dev Sanyal, Executive Vice President of Regions and Chief Executive of Alternative Energy, BP, who said that energy continued to be a vital part of economic welfare. Sanyal said that security of supply and affordability were as important as sustainability, predicting that 70% of the world's population would be living in urban areas by 2050. Sanyal also said that technologies accounted for 99% of the reduction in the cost of solar energy over the last 40 years. 

Dr. Vitaliy Yermakov, Head of Center for Energy Policy Research, Energy Institute of Higher School of Economics, Russia, said that the reserves, production and export of natural gas in Russia were significant. Explaining that gas revenues was a major input to the federal budget, Yermakov continued that Russia had begun to take steps towards reducing hydrocarbon dependency due to oil and gas prices. Discussing US sanctions on Russia, Yermakov remarked that this had compelled them to focus on Asian countries, agreements with India and China being examples.

Technological Future of Energy 

The "Technological Future of Energy" panel was moderated by IICEC Director Prof. Carmine Difiglio, while speakers were Luay Al-Khatteeb, Executive Director, Iraq Energy Institute; Dr. Tareq Emtairah, Director of the Energy Department, United Nations Industrial Development Organization; Hans Jørgen Koch, CEO, Nordic Energy Research; Paddy Padmanathan, President and CEO, ACWA Power; and Dr. Hans-Holger Rogner, Senior Scientist, International Institute for Applied Systems Analysis (IIASA). 

Luay Al-Khatteeb, Executive Director, Iraq Energy Institute, said that the demand for oil would continue into the foreseeable future, and noted the importance of diversity in the energy sector. He linked the rise of the US to prominence in production to developments in technology and renewable resources.

Dr. Tareq Emtairah, Director of the Energy Department, United Nations Industrial Development Organization, emphasized the importance of energy for industrial development, and said that clean energy was the backbone of development in underdeveloped countries. Reminding the great need for energy in the agricultural sector, Emtairah said, "The private sector takes aversion to certain risks due to economic reasons. As a development organization, we reach out to these markets and make technology meaningful within a certain context."

Hans Jørgen Koch, CEO, Nordic Energy Research, discussed the advanced research in insulation in the cold climate of Nordic countries. Koch said, “We need to increase energy efficiency in buildilngs by a factor of three if we are to achieve our targets. We need carbon scrubbing and storage technologies." 

Also speaking in the panel, Paddy Padmanathan, President and CEO, ACWA Power, emphasized the impact of technology on the energy industry, while Dr. Hans-Holger Rogner, Senior Scientist, International Institute for Applied Systems Analysis (IIASA), said that industrialized nations played an operational role in the nuclear energy sector. 

The Sabancı University Alumni Association hosted the "Inspiring Leaders Conference" as part of the Sabancı University International Board of Overseers meeting. Featuring The Coca-Cola Company President Muhtar Kent as speaker, the conference took place on Friday, October 6 at Sabancı University Sakıp Sabancı Museum the Seed.

Introductory remarks were made by Sabancı University Alumni Association President Zeynep Bahar and Sabancı University President Ayşe Kadıoğlu.

Muhtar Kent discussed the ways Coca-Cola shapes its business, the changing role of the private sector, and his advice for the youth.

Muhtar Kent said that the macro trends which shape The Coca-Cola Company’s business are trends that influence the roles of companies and empower consumers. Explaining the power held by consumers today, Kent said that the middle class would grow by another 500 million individuals by 2020.

Referring to urbanization as the driver of civilization and corruption, Kent said "One must understand cities really well, and design their architecture accordingly."

Saying that Generation Y was more concentrated in developing countries, Kent advised against generalizing the attributes of that generation.

Kent argued that consumers and employees were worried about the state of the world, and that they expected corporations show some sensitivity regarding the world's problems. Kent said that sustainability efforts were essential to the business of The Coca-Cola Company, where they took an active part in creating sustainable value.

Muhtar Kent spoke of The Coca-Cola Company’s 3W (women, water, well-being) project in resource efficiency and sustainability, discussing their micro-credit and entrepreneurship initiatives for women. Muhtar Kent said, “When societies are strong, our businesses become stronger. And societies become strong when women are involved in business."

Kent also discussed the subject of water, saying "Water is one of the most ill-treated resources in the world. As one of the world's largest water consumers, we resolved to give the water we took back to the earth by 2020. We reached our target 5 years ago."

Muhtar Kent remarked on the increase of income parity, saying that companies acted as a bridge and that growth algebra needed to be considered.

Muhtar Kent’s advice to the youth

Muhtar Kent's speech ended with his advice to the youth. Kent said, “Do not underestimate the importance of education. Appreciate the value of the education you have.  Be flexible in human relations. Nothing in the world goes in a straight line: there will be ups and downs. Don't eat alone. Work on the friendships you have acquired during university.  Find your passion. Find whatever it is that will make you feel determined to get out of bed every morning. If you find your passion, you will love the job you do. To grow is to learn. Everyone needs to grow on a personal level. Countries and companies also need growth. Every business has a fulcrum, a point of leverage. Find it, and focus your efforts on it."

Özge Akbulut of the Sabancı University Faculty of Engineering and Natural Sciences calls everyone to take responsibility for themselves with her social responsibility project #iamresponsible.

The debut product of Surgitate, a company founded by Özge Akbulut in November 2014 to produce replicas of tissues and organs that give realistic responses to manipulation, is the replica of a breast. It was chosen because 1 in 8 women suffers from breast cancer at some point in her life, and returning to their lives before cancer depends on the medical and plastic success of their surgery. Surgitate’s replica allows surgeons worldwide to study the best way for performing onco-plastic surgery on a realistic sample.

Surgitate started a new breast cancer awareness project as well: #iamresponsible. Breast cancer is the most widespread type of cancer in women, accounting for 20 to 25% of total cancer cases, and is the second largest cause of cancer losses. However, early diagnosis helps to increase survival rates. The product designed by Surgitate is a poster that illustrates how women can perform self-examinations and encourages them to see a doctor, and a breast replica that they can touch and feel the lumps inside. The goal behind the campaign is to remind all women to do self-examinations and prevent more serious issues. Surgitate recommends hanging this poster in women's restrooms in factories and offices. This shows that the company cares for the health of its employees, and makes it one of the "Surgitate Aware Companies" that are listed on the website and in all project communications.

Sabancı University Materials Science and Nanoengineering 2004 graduate and member of the Faculty of Engineering and Natural Sciences Özge Akbulut has been interviewed about her company Surgitate and the #takeresponsibility project for Breast Cancer Awareness Month.  Click on the links below for the interviews (in Turkish):

Interview by Ayşe Arman on October 12, 2017

Vogue October 2017

Harper’s Bazaar October 2017

You can help the #iamresponsible campaign by sharing Sabancı University's Instagram posts.

Remember: early diagnosis saves lives!

THE LEADERS OF THE WORLD'S ENERGY SECTOR MEET IN ISTANBUL 

The 8th International Energy and Climate Forum by the Sabancı University Istanbul International Center for Energy and Climate will be held on Friday, October 13, 2017. The annual gathering of the energy industry will discuss the future of global energy investments. 

The 8th International Energy and Climate Forum by the Sabancı University Istanbul International Center for Energy and Climate will be held on Friday, October 13, 2017. Bringing together governments, the energy industry, and academics together in Istanbul for eight years, this edition of the International Energy and Climate Forum will discuss the future of global energy investments. 

The Sabancı University IICEC 8th International Energy and Climate Forum will be hosted by Sabancı University Founding Board of Trustees Chair Güler Sabancı, Sabancı University IICEC Director Prof. Carmine Difiglio, and IICEC Honorary Chairman and International Energy Agency (IEA) Executive Director Dr. Fatih Birol. Introductory remarks will be delivered by Turkish Minister of Energy and Natural Resources Berat Albayrak, and also attending the Forum will be Minister of Environment of Poland, Jan Szyszko, and Minister of Foreign Trade and Economy of Bosnia-Herzegovina, Mirko Sarovic.

 Keeping up with the tradition, the 8th IICEC International Energy and Climate Forum will be a gathering of high-level public officials, executives of the leading international energy companies, and representatives from some of the best universities, policy centers and think-tanks around the world. Panelists and participants will discuss the future of sustainable and safe energy, and explore possibilities for new solutions. 

Founded in 2010, Sabancı University IICEC is a future-oriented and independent policy and research center that focuses on objective, high-quality economic and political studies on energy and the climate. The work of IICEC will help to develop solutions for the future of sustainable energy in the region and the world. 

Sabancı University IICEC works closely with governments, industry partners, international organizations, universities, and thought and research centers around the world. IICEC seeks to inform decision-makers, industry representatives, academics and opinion leaders on fundamental energy challenges to provide for an objective analysis. IICEC provides an effective platform that brings together key players in energy and climate to foster the exchange and development of ideas. 

Date     : Friday, October 13, 2017

Time    : 09:00 – 4:30 PM

Place   : Conrad Hotel, Beşiktaş

"Family companies need to grow and open to the world if Turkey is to have a say in the global economy"

Sabancı University Founding Board of Trustees Chair Güler Sabancı:

•    Family companies are expected to account for 40% of the world's largest companies by 2025.
•    Family companies need to be long-lived and have a global brand value for consistent economic, social and cultural growth in Turkey.
•    To grow their businesses, the new generation of executives need education as well as a firm grasp on recent developments, have to continuously reinvent themselves in the face of competition, and be open to learning and training.

The Sabancı University School of Management held a conference titled "A Global Look at Family Business" at the Sabancı University Sakıp Sabancı Museum the Seed on Wednesday, October 4, 2017. Held in association with McKinsey Academy and Columbia Business School, the conference introduced a global perspective on family companies, discussed the experiences of Turkish family companies on the path to incorporation, and explored the expectations of future generations.

Introductory remarks were delivered by Sabancı University Founding Board of Trustees Chair Güler Sabancı and School of Management Dean Füsun Ülengin.

Sabancı University School of Management Dean Füsun Ülengin said that family companies were icebergs that formed the backbone of the economy beneath the surface. Ülengin noted that a particularly important question in the cross-generational sustainability of family companies was making the right choice regarding success criteria. Füsun Ülengin explained that the conference would focus on whether family companies that had a cross-generational track record of success had a long-term sustainable policy for entrepreneurship, and discover what their governance approach was, how their organizational culture that ensures the loyalty of their employees were shaped, and what methods the younger members of the families pursued in order to run the business with as much passion and responsibility as the founding generation.

“Sabancı University starts a groundbreaking university-business partnership platform geared towards family companies that comprise the backbone of the economy"

Sabancı University Founding Board of Trustees Chair Güler Sabancı began by saying that Sabancı University started a groundbreaking university-business partnership platform geared towards family companies that comprise the backbone of the economy.  She added that family companies had a special place not just in the Turkish economy, but in the global economy as a whole. Referring to a study by McKinsey, Güler Sabancı said that family companies were expected to account for 40% of the world's largest companies by 2025. Explaining that almost 95% of all businesses in Turkey were family companies, Güler Sabancı continued, “According to data by the Statistics Institute of Turkey and the Istanbul Chamber of Commerce, the average life expectancy of a family company in Turkey is 25 years. Only 30% of these companies survive to the second generation, and 12% to the third. Those which survive to the fourth generation are a meager 3%." Güler Sabancı also said that only 69 companies which were founded before the proclamation of the Republic in 1923 were still in business today.

Sabancı said, "Family companies need to be long-lived and have a global brand value for consistent economic, social and cultural growth in Turkey."

"To grow their businesses, the new generation of executives need a firm grasp on recent developments, have to continuously reinvent themselves in the face of competition, and be open to learning and training"

Saying that the second- and third-generation members of family companies around the world received education in the best schools available, Sabancı remarked that knowledge evolved and developed at the same rate as the advancement of technology.   Sabancı said that to grow their businesses, the new generation of executives needed education as well as a firm grasp on recent developments, had to continuously reinvent themselves in the face of competition, and be open to learning and training.

Güler Sabancı likened successful corporations to successful individuals, continuing, “Successful people have a number of key common points: their perspective on the world; keenness on research; focus on being constructive and solution-oriented; good planning of resources; and being open to new developments and lifelong learning. We see the same attributes in family companies that have a consistently rising graph." She said that, like successful individuals, successful companies also sought advice from experts, did research, consider different opinions, had a solution-oriented and constructive approach, and planned and used their resources effectively.

"Family companies need to grow and open to the world if Turkey is to have a say in the global economy"

Güler Sabancı said that ensuring the viability of family companies from one generation to another was critical in achieving sustainability, and argued that family companies always needed to embrace a development-focused mindset. She added that both current and prospective executives in family companies had a great duty to achieve this.

Güler Sabancı concluded by saying "Turkey needs to have family companies, and family companies need to grow and open to the world from one generation to the next if Turkey is to have a say in the global economy."

Following introductory remarks, the first panel session, titled "The European and Eurasian Perspective," was moderated by Sabancı University School of Management faculty member and Corporate Governance Forum Director Melsa Ararat with panelists Patricia Angus from Columbia Business School and Amadeo Di Lodovico, Senior Partner of McKinsey Dubai.

The second panel, moderated by Bloomberg HT News Coordinator Ali Çağatay, was titled “Family Business in Turkey”. Panelists were Leyla Alaton, Sumer Tömek Bayındır and Tayfun Bayazıt.

The moderator of the final panel on "The Expectations of Future Generations" was Arzu Maliki from Bloomberg HT, and panelists were Murat Özyeğin, Ebru Özdemir and Alp Öğücü.

Established within Sabancı University under the founding sponsorship of Akbank, the Center of Excellence in Finance (CEF) invited Professor Aswath Damodaran from the Stern School of Business at New York University. Known as the top name in company valuation worldwide, Professor Aswath Damodaran gave a seminar titled "Valuation: Art, science or magic?"

Established within Sabancı University under the founding sponsorship of Akbank to act as a bridge between the finance sector and manufacturing industry, the Center of Excellence in Finance (CEF) held a training on valuation. Professor Aswath Damodaran from the Stern School of Business at New York University gave a two-day seminar titled "Valuation: Art, science or magic?" at the Sabancı Center on September 15 and 16. Participants received a "Certificate of Attendance" from Sabancı University at the end of the seminar.

Known as the top name in company valuation worldwide, Professor Aswath Damodaran said that there were as many models for the valuation of companies and share certificates as there were valuation analysts, continuing "While the differences between these models are frequently brought to attention, common elements are largely ignored. I discussed the big picture, which needs to be considered when determining cash flows, growth rates and discount rates, and talked about calculation issues and the fundamentals of internal valuation. I used existing companies as lab experiments to bring visibility to calculation issues that may arise when performing a valuation."  Damodaran also said the following about the seminar:

"After presenting the fundamentals of valuation, we turned to unanswered questions about valuation and discussed the valuation of elements such as control, synergy and cross shares. Then we turned to the dark side of valuation - the challenges faced when performing the valuation of companies in different sectors (companies with non-financial fixed assets or financial service companies) and companies at various stages of their life cycles (small and private, young and growing, mature and evolving, turbulent and shrinking). Finally,we talked about the correct and incorrect uses of multipliers in relative valuation."

The certificate program offered by Sabancı University CEF and Akbank aimed to provide the fundamentals of different valuation methods, the restrictions of each method, and practical application of the discussed methods. The overall objective of the seminar was to help participants gain the following skills:

- Use the discounted cash flow model to valuate any company in the market (small or large, privately-held or public)

- Use valuation multipliers and comparable companies to valuate a company

- Analyze and critique the use of multipliers in valuation

- Perform valuations of "problematic" companies such as new companies or those in financial difficulty

- Calculate the impact of restructuring on company value

Sabancı University Finans Chair and CEF Founding Chairperson Professor Özgür Demirtaş expressed their pleasure to host Prof. Aswath Damodaran at CEF, continuing, "We will invite leading academics to CEF in our second year for a series of important seminars. Following a Basics of Finance training that I will deliver to professionals, other Sabancı University faculty will teach courses in the Basics of Capital Budget, Mergers and Acquisitions, and Derivate Instruments. CEF also offers training courses to high school and university students who are interested in finance."

About Prof. Aswath Damodaran:

Aswath Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern School of Business. Professor Damodaran currently teaches Corporate Finance and Equity Instruments & Markets. He earned an M.B.A. (1981) and then Ph.D. (1985), both in Finance, from the University of California, Los Angeles. His research interests include Information and Prices, Real Estate, and Valuation. He has published articles in the Journal of Financial and Quantitative Analysis, Journal of Finance, Journal of Financial Economics and Review of Financial Studies.

We will be running in the Istanbul Marathon once again this year to support our successful students who are in financial need. Join us on Sunday, November 12 to share the experience!

Early registration for the race is available at a discount and ends on September 30. Please click here to register for the marathon. 

The University will handle the group registration for the Public Walk. Please submit the following information to zyasar@sabanciuniv.edu until Friday, October 27 the latest:

Full Name

Date of Birth (D/M/Y)

E-Mail

Telephone

A free shuttle will depart from the campus on the morning of the marathon.

For shuttle and other details

Zeliha Yaşar Algül

zyasar@sabanciuniv.edu

Ext: 9353

Arts and Social Sciences faculty members Erdağ Aksel, Murat Germen and Selçuk Artut join the 12th “Contemporary Istanbul” with a number of works.

“Contemporary Istanbul”, the international contemporary arts fair that brings together artists from Turkey and the world, will take place between September 14 and 17 at the Istanbul Convention Center and Istanbul Lütfi Kırdar International Convention and Exhibition Hall in Harbiye.

Erdağ Aksel joins Contemporary Istanbul in the Galeri 44A booth with three works in various techniques: "Öyle Bir Şey3", "Crescent Disabled" and "Karşılaştırmalı Belirsizlik". Erdağ Aksel will also join the "Fifth Element" sculpture exhibition under the curatorship of Hasan Bülent Kahraman in Contemporary Istanbul.

Murat Germen will exhibit eight works in collaboration with three different galleries (ALANistanbul, Bozlu Art, Mixer). Germen has recently been working on converting photography to 3D, and his work "Cascade" on display at Contemporary Istanbul consists of photographs affixed on 648 pine blocks that are 5 x 5 cm in size, creating a topography of their own.

Selçuk Artut’s work will be on display with the Zilberman Gallery. It is titled "Segments Serie 1."

About Contemporary Istanbul

Contemporary Istanbul has been drawing the leading galleries, contemporary artists, art institutions, collectors, and art circles for 11 years. Contemporary Istanbul builds bridges between the global and Turkish contemporary art scenes.  In furtherance of its mission, Contemporary Istanbul is being held concurrently with the 15th Istanbul Biennial this year rather than in November to capitalize on the synergies between art institutions and galleries.  Held in the Istanbul Convention Center and Istanbul Lütfi Kırdar International Convention and Exhibition Hall, the fair promises many new and interesting examples to purveyors of art. 

CI plays a large part in the development of the contemporary art market in Turkey, and in addition to being an international art platform, it is a cherished value of Istanbul. The 12th edition of CI hosts a number of well-established galleries and institutions in addition to many new galleries and foreign representatives.

The theme for the 2018 edition of the annual Sakıp Sabancı International Research Awards given by Sabancı University is "Challenges To Democratic Governance And Living Together In Turkey And The World." The deadline for submissions is January 15, 2018.

The Sakıp Sabancı International Research Award involves a Jury Prize that will be awarded to an individual who has made distinguished contributions on the above-mentioned theme. In addition to the Jury Prize, Essay Awards will be given to three researchers under 45 years of age. An independent and international jury will select the Essay Award and Jury Prize awardees.

Award Theme:

More than two decades ago, Zbigniew Brzezinski alerted us to a “global turmoil,” steadily stifling the international society’s, and especially the West’s ability to respond to major global challenges. Since then, the West has been in the grip of the multiple crises of globalization, manifested by a myriad of unprecedented and effective security, economic, humanitarian and environmental challenges. While existing democracies have failed to tackle effectively the multiple crises of globalization, a wave of populist movements have begun to shape and frame politics and governance in not only Western democracies, but also in developing countries. These movements, either in government or in opposition, feed on challenges to democracy such as the democratic disconnect between economy and politics, refugee flows and the failures of multiculturalism. Essays providing path-breaking and innovative analyses on these and similar challenges to democratic governance and living together, their causes and impacts, as well as the movements which they foster and the alternative solutions which can be sought are welcome.

About the Sakıp Sabancı International Research Award:

•    All entries, which may be coauthored, must be new and original works, not published previously in any form.

•    Essays must be of the format and size of a regular academic journal article (25 to 35 pages, in double-space format, including references).

•    An abstract of 500 words embedded into the original essay and a short CV of the author(s) are required.

•    Entries must be submitted in English, in the form of a Word document to the following address: award.sabanciuniv.edu

•    Essay Awards will be given to three researchers under 45 years of age. This category includes 10,000 USD for each of the three award-winning essays selected by an independent and international jury from among submitted essays.

•    The Sakıp Sabancı International Research Award involves a Jury Prize of USD 25,000 that will be awarded to an individual who has made distinguished contributions on the above-mentioned theme. The same jury will select the Jury Prize awardee.

•    More information: award.sabanciuniv.edu