Elginkan Foundation was the main sponsor of New Ideas New Businesses Entrepreneurship Contest in 2007 as well as in 2005 and 2006, which is organized by the Middle East Technical University and was successfully held in 2005 for the first time.

Third" New Ideas New Businesses" Entrepreneurship contest was concluded with the final ceremony held in November 17 2007. JEOTİM Group became the champion among four teams that made to the finals. This group is composed of Aslı İlbay, senior in METU Department of Geology Engineering, and Mehmet Erdem Hamamcı, junior again in METU Department of Geology Engineering. The team won this award by performing mathematical modelling (PETÇED) through 3B technology of chromatographic analysis data of samples taken by "AEB" and "AET" type apparatus, which they have designed in order to take samples in gaseous and solid state from floor for detection of hydrocarbon richness or contamination anomalies in geochemistry based energy raw material search and environmental impact assessment (EIA) works. Elginkan Foundation will provide support valued at 50.000 TL to be paid gradually to the award winning team in order for them to commence production. Team Name Project Name Slogan JeoTim PetÇed Hawks see the ground, JeoTim sees the underground the best Company Name: In incorporation process. This group received 50.000 TL First Prize in YFY 2007.  Among team members, Aslı İlbay is senior in METU Geology Engineering, and M. Erdem Hamamcı is junior in METU Geology Engineering.  In short, PetÇed is a project that will provide search based service to Environmental and Oil sectors.  Among devices, which were developed within the scope of the project and patent applications of which were made, one device can take solid phase samples, while the other can take samples in gaseous phase.  With the device which we designed to take samples in solid phase, sediment sample can be taken up to 1.5 meters depth from ground.  The samples taken with this device, which we will use for detection of heavy metal contamination, are first subjected to laboratory analyses.  Analysis results obtained are supported with one of 3B commercial software and detailed and 3D contamination anomaly map of the area worked on is created.  Consequently, all data are assessed, and detailed environmental impact assessment (EIA) report of the area worked on is prepared.  With the other device which we designed to take samples in gaseous phase, samples can be taken up to 1.5 meters depth from ground.  This depth is sufficient for geochemistry works performed from surface and is quite above the world average.  Samples obtained are subjected to laboratory analyses according to the purpose of the research conducted.
 For example, while samples to be taken within oil search works are subjected to analysis in terms of hydrocarbon existence, data to be obtained will be supported by one of 3B commercial software; anomaly maps created will be combined with all geological data and detailed geochemistry report of the area will be submitted to the institution demanding for service.  In leakage detection works of natural gas and oil transportation lines and underground storage facilities, samples to be taken from target areas are subjected to tests for detection of whether normal leakage values are exceeded.  JeoTim is a R&D based company and has adopted producing its own hardware with an innovative perspective and exceeding current technologies rather than using ready technologies as principle.