HBR Assessment: What Kind of Entrepreneur Are You?

Harvard Business Review recently published an assessment based on Endeavor’s entrepreneur personality types. Successful entrepreneurs have different (often multiple) personality profiles – each with its own strengths and weaknesses – so take this assessment to identify which one you fit:

Assessment: Identify Your Entrepreneurial Personality Type

July/August 2015 Newsletter

To view Endeavor’s July/August newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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Endeavor South Africa’s Excelerator Program, An Initiative to Support Early Stage Entrepreneurs, Graduates Its First Class

Endeavor South Africa, in association with the Johannesburg Stock Exchange (JSE), demonstrated the success of its Endeavor Excelerator Program with a graduation event for participating entrepreneurs. Selected into the program in 2012, these early-stage entrepreneurs were given access to critical mentorship and investment advice that helped propel them to higher growth.

The Excelerator Program was born out of a goal to support earlier-stage black entrepreneurs as they push their businesses to the next level. Endeavor SA hoped to replicate the success achieved globally with the Endeavor model to support entrepreneurs who have not yet reached the high-growth phase of the typical Endeavor Entrepreneur. The program applies Endeavor’s global best practices to help these companies with challenges to scale within a defined timeframe. In turn, they have an opportunity to become prominent role models in South Africa’s entrepreneurial ecosystem and potential candidates for the Endeavor pipeline.

“We believe that developing high-impact entrepreneurs is the best way to promote an economy in South Africa that is sustainable and creates jobs,” says Catherine Townshend, MD of Endeavor SA . Over the course of two years, the participants were provided with a business road map, an advisory board, legal advice, and access to investment advice. The graduates of the program have shown significant growth in their businesses and employment numbers since joining.

Mohlakoana Mokoena of Drift Brands, Ashley and Tania Mulligan of Kushesh, and Tsakani Mashaba of Michael Mikiala Men were all declared Endeavor Excelerator Alumni at the graduation event. Mashaba said in a press release: “Being part of Endeavor is the best thing that entrepreneurs can do because it sharpens your business acumen. You also get to meet other entrepreneurs, so you do not feel alone.”

JSE host and sponsor Donna Oosthuyse welcomed all the guests while Catherine Townshend and Clive Butkow, an Endeavor Mentor, provided a look at the determination and effort the honorees put into the program. Endeavor SA  also helped to formally open the exchange for the day.  Citi, an Endeavor Global sponsor, provided support for the office and program as well.

Read more about the news in VentureBurn and by clicking here. Watch a video of the event at JSE below.

Nevzat Aydin, Co-Founder of Turkey’s Yemeksepeti, Gives Back to Employees with $27 Million in Bonuses

Yemeksepeti, Turkey’s largest food delivery service, made headlines after CEO and Endeavor Entrepreneur Nevzat Aydin paid out $27 million in bonuses to the firm’s employees. This was following the company’s record acquisition by Delivery Hero in early 2015. The news demonstrates the power of entrepreneurs who build high-impact businesses, inspire others, and give back to the ecosystem.

The company’s $589 million acquisition marked the biggest deal of its kind to date for a Turkish tech firm. Founded by entrepreneurs Nevzat Aydın, Melih Ödemiş and Cem Nufusi 15 years ago, the company now claims 370 employees and deliveries of over 3 million meals per month.

In his decision to share bonuses with 114 members of his staff, Nevzat remarked that their success “did not happen overnight” and that “many people participated in this journey with their hard work and talent.” The bonuses gifted to employees were determined based on performance, tenure at the firm, and future potential with the company. On average the bonuses were worth $237,000, roughly 150 times a typical employee’s monthly pay. Many of the recipients remarked on the life-changing quality of the amount.

“I believe in teamwork and I believe success is much more enjoyable and glorious when shared with the rest of the team,” Nevzat further commented in an interview with CNN Money.

Nevzat will continue his work with Yemeksepeti as CEO, overseeing operations in Turkey as well as the UAE, Saudi Arabia, Lebanon, Oman, Qatar, and Jordan, and will also join the executive board of Delivery Hero.

Selected into the Endeavor network in 2007, Yemeksepeti’s founders have received strategic guidance from Endeavor mentors as well as introductions to key investors, having attended and participated in a number of Endeavor events around the world. Endeavor Catalyst participated in Yemeksepeti’s 2012 $44 million funding round led by General Atlantic. Its acquisition would mark Catalyst’s second successful exit. As of 2015, Nevzat has also joined the board of Endeavor Turkey, becoming the third entrepreneur to do so locally.

Read more about the high-impact news in top media outlets including CNN Money, TIME and Turkey’s Hürriyet Daily News.

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Spain’s Shazura Profiled in Bloomberg; Receives Backing from Key Members of the Endeavor Network

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Sira Perez de la Coba, founder of Shazura (formerly Shot & Shop), was featured in Bloomberg Business for the company’s cutting-edge work in the image recognition space. Sira’s venture has received backing from key board members in the Endeavor network, and plans to expand to Silicon Valley with this support.

Founded in 2011, Shazura’s technology compares millions of photos and videos with no previous text tagging in order to identify images of people, places, or items, in order to create a searchable database. The entrepreneur has raised $1.1 million from investors, and expects to soon set up an office in Silicon Valley where she hopes to refine the technology. Investors include Venezuelan media tycoon Gustavo Cisneros and his daughter Adriana Cisneros, who co-chairs the Board of Directors of Endeavor Miami. Endeavor Global Board Chairman Edgar Bronfman, Jr. and Endeavor Jordan Board Member Walid Tahabsem are also backing the company. Perez de la Coba told Bloomberg that she is a “totally visual person” and that her “mind works with images”, which has led her to the goal of “doing for photos what Google did to search.”

“I saw an opportunity of a very advanced and solid image-recognition technology that will rock and change the way we have been using the Internet,” Walid said of his decision to invest.

The thousandth entrepreneur to be selected into the network in 2014, Sira has received advisory services from top Endeavor mentors, including fellow Endeavor Spain Entrepreneur Ignasi Vilajosana, founder of Worldsensing. She has also received guidance in fundraising following a recent bridge round.

Read the full coverage by clicking here.

Endeavor Greece Releases Report on the Impact of Capital Controls; Mentioned in Bloomberg, WSJ and The Huffington Post

Following a tumultuous year of political and economic uncertainty, Greece’s planned bailout by the European Union is ushering in a new reality for many entrepreneurs and growing companies doing business in the country. Endeavor Greece released a report that includes a survey of 300 companies and analyzes the impact of capital controls on the country’s entrepreneurs. According to the findings, more than half of the companies reported experiencing a significant effect on their businesses as a result of the government limitations on cross-border transactions, preventing many from accessing foreign services and infrastructure.

Significant impediments were also created by the cap imposed on daily cash withdrawals but to a smaller scale. Due to the capital controls, 69% of the sample companies have suffered a significant drop in turnover, while 18% report a drop in turnover larger than 50%. Only 4% of the sample companies reported an increase in their turnover and 27% reported no impact on sales. The businesses have taken drastic measures to mitigate the risks in their operations caused by the reduced bank operations. A large number has postponed payments to suppliers (45%) and in fewer cases they delay payments of salaries. Many companies (46%) use their current accounts opened with foreign banks to settle their trade transactions. Few companies (15%) performed sales in cash only, while 11% of the companies had to decrease or suspend production due to raw material shortages.

A large part of the sample companies are anticipating a possible “haircut” applied on Greek deposits and, hence, they have proceeded with settlement of all outstanding payments to suppliers (40%) and provided advance payments of salaries (46%), in order to reduce their cash positions. Fewer respondents report salary cuts and personnel layoffs as measures taken to address their liquidity constraints and approximately 1/3 of the sample companies has cut non-payroll expenses, such as marketing. Lastly, 23% of the sample Greek companies plan to transfer their headquarters abroad for security, cash flow and stability reasons.

Those surveyed agreed that the government’s short-term priorities should be to lift capital controls and increase access to liquidity for businesses and households. The long run efforts should include cracking down on tax evasion, and reforming the pension system and labor market. In an interview with the Wall Street Journal, Endeavor Greece Managing Director Haris Makryniotis said, “The majority of the companies are in bootstrapping mode, struggling to protect operations and working capital. It is critical to keep going even with losses to reserve the right to play when the economy stabilizes or rebounds.”

Philipp Brinkmann, a chief executive of Travelplanet24 and Endeavor Entrepreneur, says he paid for another company’s Facebook advertisement, while Qrator, a social-networking platform for creative professionals that raised $830,000 from investors in December, could not pay the bills to keep its servers running. It is a tough situation for SMEs, which represent the bulk of the Greek economy. In an interview with Bloomberg, Haris went on to say that the companies are unable to produce, for lack of raw materials; sell, for lack of demand; and finance because the banks have limited services. He explained it is easier for large companies to prepare and make changes to their models in order to avoid the brunt of austerity measures, but SMEs are in the most vulnerable situation. The need for job creation and employment opportunities are at a critical level, as outlined by The Huffington Post in a piece that cites Endeavor Greece research. Haris also noted that it is time for new companies to step up, but understands that the majority of the young generation has left the country. He advised small businesses to come together to create a voice loud enough to be heard.

Learn more about the research by clicking here and view an infographic summary below.

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South Africa’s Taste Holdings Forms Exclusive Partnership with Starbucks

 

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Starbucks’ Kris Engskov and Taste Holdings’ Carlo Gonzaga

Starbucks Coffee Company recently announced an exclusive licensed partnership with South Africa’s Taste Holdings, founded by Endeavor Entrepreneur Carlo Gonzaga, to support the expansion of the coffee chain in South Africa. Taste Holdings has grown to become a leading management group and licensor of food and retail brands in the region, specializing in Quick Service Restaurants and luxury goods. With Taste’s help, Starbucks will open its first full-format stores in sub-Saharan Africa next year.

Taste’s vertically integrated food division has license agreements with several large global chains, including Domino’s Pizza and Scooter’s Pizza. The group owns retail outlets and then distributes products from its own distribution centers using its fleet of specialized vehicles. In a similar vein, Taste Holdings also has a vertically integrated luxury goods division that includes jewelry and watch brands like NWJ and Arthur Kaplan. With this recent partnership, Taste will support Starbucks as the global retailer expands in the region. The first Starbucks store is set to open in Johannesburg in early 2016, with more locations to follow. The stores will be designed and built in collaboration between both companies, and will serve the entire range of Starbucks food and beverages, including ethically-sourced Arabica coffee.

The partnership gives Taste the exclusive rights to develop Starbucks retail outlets in South Africa, operating and owning the stores directly. Furthermore, the agreement will directly support job creation opportunities and help to expand Taste’s Changing Lanes program, which helps predominantly unemployed youth from the community.

Kris Engskov, president of Starbucks Europe, the Middle East and Africa said, “Working with Taste, our partner, we’re going to deliver a great Starbucks experience. The coffee market here is vibrant and growing fast – we want to be part of that growth, bringing the passion and energy of this remarkable country into the design of our first store and our first barista team. We can’t wait to get started.”

Carlo agreed, saying the companies had “similar core values, including a commitment to localization and uplifting both direct and indirect partners.”

Since joining Endeavor in 2007, Carlo has become an entrepreneur success story, serving as a mentor, ISP panelist and South Africa Board Member, helping to inspire future generations of entrepreneurs in his region.

Learn more about the news by clicking here.

UAE’S Fetchr Raises $11 Million Series A Round With Participation From Endeavor Catalyst

The Dubai-based Fetchr, co-founded by Endeavor Entrepreneur Idriss Al Rifai, raised $11 million in a Series A round of funding led by New Enterprise Associates (NEA). The app helps local merchants and global brands build, launch and grow profitable e-commerce businesses with an easy-to-use proprietary shipping and logistics solution. This investment marks the largest U.S. Series A investment in a Middle Eastern venture to date.

Fetchr was founded with the aim of taking the hassle and inconvenience out of package delivery. In emerging regions of the world where addresses are inconsistent and often unreliable, there is a major challenge for deliveries. This challenge prevents consumers from ordering items online, businesses from growing their revenue via e-commerce, and people from sending packages to each other. Organizing pickups and deliveries still requires multiple phone calls and shipping businesses are still relying on paper and pen.

Fetchr uses proprietary technology to schedule package pick-up and delivery using mobile phone GPS coordinates as the address. While e-commerce is growing at explosive rates around the world, it will never reach its full potential until the “no street address” problem is cracked. Fetchr overcomes these logistical hurdles by delivering packages using mobile phones as points of contact.  This groundbreaking shipping and logistics solution helps local merchants and global brands build, launch, and grow profitable e-commerce businesses. Fetchr is significantly faster than competitors, with 97 percent of packages delivered same day or overnight, and a return process that picks up within 30 minutes. Fetchr’s system connects the dots between customer, package, driver, and sender to create an overall seamless experience.

This Series A investment will enable Fetchr to launch the mobile application of its service in the Appstore and Google Play, as well as fuel ongoing product development.

“Consumers use their phones to shop for just about everything,” said Idriss Al Rifai. “With our app, you can now use your phone to ship anything, anywhere. We aim to change the behavior in which people send and receive packages. We are thrilled that NEA shares our vision for overcoming the major logistical challenges that exist for deliveries in emerging markets, as well as ushering in a new era for shipping and ecommerce. This investment is a big step forward for the Arab startup community.”

Since joining the Endeavor network in 2015, Fetchr’s founding team have been active members of the network, receiving custom advisory services from a board of Endeavor mentors. In addition, Endeavor has connected the team with other entrepreneurs and a number of investors who will help them continue to grow their business model in this next phase.

Read more about the investment news in the Wall Street Journal.

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities.

Endeavor Colombia Brings High-Impact Entrepreneurship to Barranquilla and Medellín with Regional Expansion

Endeavor Colombia is announcing the launch of its first two regional operations in Colombia. The offices will be located in Medellín, Colombia’s second largest city and the host of a 2016 Endeavor International Selection Panel, and in Barranquilla, the country’s main Caribbean city. Spearheaded by Endeavor Colombia’s Board of Directors and national and local institutions, this expansion will help the Bogotá office continue to support and serve the best high-impact entrepreneurs in the region.

The Medellín operation will act as a further extension of the Entrepreneur Selection and Growth (ESG) team, with the goal of promoting scale-up entrepreneurship by increasing the selection of candidates from the region. The office is working in conjunction with RutaN, the foremost entrepreneurship and innovation-focused organization in Medellín. RutaN is supporting the offices’s operations under the management of María Isabel Uribe.

In Barranquilla, the operation is going forward in alliance with the local chamber of commerce and iNNpulsa, a government program that supports high-impact entrepreneurship in Colombia. The first step of the operation will involve selecting a group of entrepreneurs who are in an earlier stage of development than typical Endeavor Entrepreneur candidates. The purpose of this selection is to prepare potential candidates and nominees at a smaller regional level for the national selection process. This accelerated program will be offered to eight businesses that show high potential and will see them through a year of mentoring, interviews and workshops during which they will strengthen their pitches for regional panels. They will also be exposed to several important networking opportunities. Juan Carlos Peña will be heading the efforts in Barranquilla.

The Barranquilla operation was launched on June 11th, 2015 and the Medellín operation will launch on July 29th, 2015.

Learn more about Endeavor Colombia by clicking here.

 

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Medellín, Colombia

 

 

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Barranquilla, Colombia

 

Endeavor Argentina’s 2015 Experiencia Brings Together 2,000+ Participants to Celebrate High-Impact Entrepreneurship

Endeavor Argentina hosted its 2015 Endeavor Experiencia this June. The event, which took place in Buenos Aires, was designed to promote networking between entrepreneurs and potential investors as well as celebrate the work of Endeavor in the region. It brought together over 2,000 participants from eight provinces with the goal of inspiring and encouraging Argentina’s entrepreneurship movement.

Throughout the day-long event, participants attended a series of workshops, lectures, and roundtable discussions led by Endeavor Entrepreneurs, business leaders and top members of the regional network. More than 2,000 external participants also connected to the event through digital streaming. In total, more than 200 reported connections were made between entrepreneurs and potential investors in attendance.

Notable Endeavor Entrepreneurs who spoke include Marcos Galperin (Co-Founder of MercadoLibre), Guibert Englebienne and Martin Migoya (Co-Founders of Globant), Sally Buberman (Co-Founder of Wormhole IT), and Luciano Nicora (Founder of VN BPO).

The event garnered significant press and social media attention. It was featured in six national newspapers and garnered more than 2,500 tweets. According to an exit survey, 96% of the attendees would go to another event and 98% considered it an extremely positive experience.

Watch the recap video below and learn more about the event by clicking here.

Endeavor Jordan Hosts Second Annual “Catalyzing Conversations” Event with Top Members of the Global Network

Endeavor Jordan hosted the second annual ‘Catalyzing Conversations’ event in collaboration with the 59th Endeavor International Selection Panel in Amman. ‘Catalyzing Conversations’ is a multi-tiered event featuring a series of interactive and motivational discussions with business leaders, entrepreneurs and investors from Endeavor’s regional and global network.

The day-long event featured panel discussions conducted by entrepreneurs, investors and industry experts from across the U.S., Europe and the Middle East and North Africa (MENA). Notable topics and speakers included:

– ‘Getting the Most from the Creative Economy’ hosted by Endeavor Global Chairman Edgar Bronfman Jr., Endeavor Jordan Chairman Ali Al-Husry and Endeavor Greece Vice Chairman Mareva Grabowski;

– ‘Mind the Talent Gap’ hosted by Endeavor mentor Sal Giambanco of Omidyar Network;

– ‘Why Culture Matters’ with Endeavor Jordan Entrepreneur Amjad Aryan;

– ‘Multiplying Impact: From Entrepreneur to Investor’ with Endeavor Global Board Member Fadi Ghandour, Endeavor Lebanon Entrepreneur Herve Cuviliez, and Endeavor Global Board Member Michael Ahearn.

“At Endeavor Jordan, we are committed to supporting and advancing high-impact entrepreneurship across Jordan. As such, we continuously strive to organize value-added events that provide our ecosystem with the opportunity to exchange knowledge and experiences with some of the world’s most prominent industry innovators and game-changers, and we believe that insightful events such as ‘Catalyzing Conversations’ are a great way to do so,” said Rasha Manna, Managing Director of Endeavor Jordan. “I would also like to express our gratitude towards Bank al Etihad, Capital Bank, KAFD, Umniah and USAID-JCP for their invaluable support, which has been instrumental to the event’s success.”

The event was supported by Bank al Etihad, Capital Bank, King Abdullah II Fund for Development (KAFD), Umniah and USAID’s Jordan Competitiveness Program (JCP).

Learn more about the event by clicking here, read press coverage by clicking here and see more event photos here.

 

Minha Vida Acquires TecnoNutri; Creates Dominant Player in Brazil’s Healthy Eating Market

Brazil’s Minha Vida Group, which manages a medical/health care website of the same name and a popular online diet program called Dieta e Saude, took a major step forward in its growth this week with the announcement of its acquisition of TecnoNutri, an online application focused on healthy eating.  The company can now claim 8 million single downloads each month for its two online diet and healthy eating applications and hopes to triple users of TecnoNutri’s application within the next five years.  By their own count, the two programs have helped Brazilians shed over 5 million kilos through a combination of nutrition guidance (via a point system) and exercise.

“The pursuit of a better quality of life has been increasing, and this is directly connected with diet, which is one of Minha Vida’s purposes, ” said Minha Vida CEO and Endeavor Entrepreneur Daniel Wjuniski. “The idea [behind the acquisition] is to consolidate the group even more as a reference and our services as a helping hand. We have an important purpose alignment and we are very excited to be able to strengthen this awareness about a balanced diet with the TecnoNutri team.”

In Brazil, the healthy food market has never been busier, according to a report recently published by the consultancy Euromonitor.  The company indicates that the sector’s sales have doubled in the past five years, reaching 98%. At the same time, obesity is also increasing in large strides due to industrialization and poor diet habits – 60 million Brazilians are overweight and 22 million are obese, according to a study published in the US in the past year.

Wjuniski and Minha Vida co-founder Fernando Ortenblad established the company in 2004 and were selected as Endeavor Entrepreneurs in 2009.  The company became the first Brazilian investment for Endeavor Catalyst, Endeavor’s unique co-funding vehicle, in March 2012.

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Egypt’s The Bakery Shop Forms Partnership with The Four Fat Ladies Bakery Following Majority Acquisition

Cairo-based Native Markets Limited, the holding company for The Bakery Shop brand, recently acquired a majority stake in The Four Fat Ladies, an Egyptian bakery which specializes in traditional American desserts. Endeavor Entrepreneurs Tarek El Nazer, Sameh El Sadat, and Basel Mashhour started NML in 2008 and has grown the company to own and operate over 23 retail stores in Cairo and Alexandria.

Native Markets was founded with the vision of building a high-end retail bakery chain in Egypt under the brand name The Bakery Shop.  In addition to retail stores, the company provides catering and B2B bread supplies to third party players in the Egyptian market. This partnership with TFFL is the latest milestone in NML’s growth strategy, which will add the award-winning brand to its portfolio, leverage the current infrastructure to support its scalability, and simultaneously develop both brands. The addition of TFFL to NML’s portfolio will take the group to the next level of customer experience enhancement.

Sameh El-Sadat, Co-Founding Partner and Chief Investment Officer at NML, commented on the partnership saying: “The Four Fat Ladies provides us with a new roll out strategy, in addition to the dessert know-how needed to complement the existing platform. The entrepreneurial experience garnered by TFFL’s founders allows them to lead a successful brand that would spearhead the desserts scene alongside TBS locally as well as regionally. Our decision to acquire TFFL and support its growth underscores our direction to expand on the success story of TBS by partnering up with promising brands and dedicated teams.”

Serving a full range of items from baguettes to pastries, TBS has experienced rapid growth since its founding and, after selection as Endeavor Entrepreneurs in 2011, began developing expansion plans to open more locations and bring its products to other regions. Endeavor has helped the entrepreneurs arrange a local advisory board of mentors as well as connect them with leading consulting firms to help refine and expand their business model.

Save the Date: 2015 Endeavor Gala Honoring Diane von Furstenberg

2015 Endeavor Gala – Friday, November 6th

Join over 500 entrepreneurs, business leaders and Endeavor network members in the heart of Manhattan for the 2015 Endeavor Gala, honoring fashion designer and visionary Diane von Furstenberg. The Gala celebrates the Endeavor network’s leadership of the high-impact entrepreneurship movement. As outstanding role models and job creators, Endeavor Entrepreneurs are transforming economies in 50 cities in 23 countries around the world. With all proceeds supporting these efforts, the Gala helps catalyze the “unstoppable” force for change that is the Endeavor effect.

To become a sponsor, purchase tickets or tables, or make a donation, contact Alana Chin at gala@endeavor.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online by clicking here.

Gala Save the Date

Brazil’s Sieve, An Intelligent Pricing Platform, Acquired By Leading Online Retailer B2W Digital

Based in Rio De Janeiro, Sieve was founded by Endeavor Entrepreneurs Luís Vabo Jr., Felipe Salvini and Andre Massa as an innovative price and data intelligence tool for retailers and brands. The company was recently acquired by B2W Digital, a leading online retail company in Latin America, for an estimated $42 million.

 B2W Digital is the owner of Latin America-focused e-commerce brands Americanas.com and Submarino, which have operations in Brazil, Argentina, Chile and Mexico. According to a statement on the acquisition, the deal price is R$88.6 million with an additional US$13.8 million, bringing the total to an estimated US$42 million.

Founded in 2010 with offices in Rio de Janeiro and São Paulo, Sieve operates in the segment of price intelligence, data monitoring and dynamic pricing for e-commerce retailers. Sieve was formerly owned by Usina Internet Group, controlled by Arpex, and claims major clients like Electrolux and Lenovo which use the company’s technology to monitor its offerings on its e-commerce sites. In addition, networks like Bahias Houses and Ricardo Eletro also use the intelligence solutions Sieve offers to collect data on its customers. Many of B2W’s virtual stores, including Submarino, Shoptime, SouBarato and Americanas.com, already use the company’s solutions, making the acquisition a natural course as it cements its position as one of Latin America’s largest online retailers.

Since Sieve joined the Endeavor network in 2013, the entrepreneurs have received guidance from a local board of advisors as well as customized mentorship from global business leaders.

Read more about the news by clicking here.

Endeavor Uruguay Hosts Annual MEGA Experiencia, The Largest Entrepreneurship Event in the Country

EndeavorUruguayOn June 10th, Endeavor Uruguay held its annual MEGA Experiencia Endeavor event, the country’s largest gathering for entrepreneurs and stakeholders. With over 1,400 participants, 50 mentors, 40 organizations and 15 speakers represented, the event brought together some of the best and brightest from across Uruguay’s ecosystem in order to inspire, connect and share knowledge about entrepreneurship.

To mark Endeavor’s 15th anniversary in the country, a full schedule was arranged of simultaneous events relating to social entrepreneurship, raising capital, and intrapreneurship. The MEGA Experiencia featured talks by keynote speakers who shared their entrepreneurial journeys, including their successes and failures. Guests were invited to watch the final selection round of the entrepreneurial contest held by Rexona Clinical in partnership with Endeavor. Attendees also listened to several round-table discussions during which they learned about various startup topics and were encouraged to pose their questions to experts in the field.

In order to open Endeavor Uruguay’s network of over 100 mentors to the rest of the entrepreneurial community, Endeavor organized CONNECT, a segment designed for entrepreneurs to receive hands-on advising from the most recognized experts in their area of interest. Over 50 Endeavor mentors participated during the Experiencia with various proposals for entrepreneurs with both ideas and businesses in motion.

The event garnered over 50 mentions in the press and #MEGA2015 was a trending topic on both Facebook and Twitter with over 30,000 social mentions.

Watch a video recap of the event below or learn more by clicking here.

Mexico’s kubo.financerio Becomes First Regulated Peer-to-Peer Lending Platform in the Country

The Mexico City-based kubo.financiero, founded by Endeavor Entrepreneur Vicente Fenoll, recently received authorization from The National Banking Commission of Mexico (CNBV) to become the first regulated peer-to-peer (P2P) lending platform in the country. Kubo.financiero is a microfinance institution that provides accessible and affordable loans to borrowers in Mexico that can be used for everything from education to working capital.

With proprietary algorithms, kubo identifies a wide range of credit risk profiles to properly screen borrowers with a proven track record of credit worthiness. For each profile, interested investors can find detailed information that will help them make smart decisions while constructing their loan portfolio. Kubo provides search tools for better browsing and filtering of projects across wide-ranging alternatives. This encourages investors to spread their capital across many projects and diversify their risk. Each person can minimally open their account with 10,000 pesos MXN and they can fund any project with a minimum allocation of 100 pesos MXN each. Kubo’s business model introduces opportunities both for borrowers and for retail-investors by leveraging technology and data-driven selection processes, enabling them to offer much lower interest rates compared to other consumer and microfinance loans. This authorization news is a significant step for the company as it brings transparency, clarity in operating procedures, and legal certainty to its the investors.

“Kubo’s business model is designed to bring people together around an intelligent use of financial services,” said Vicente, kubo’s current CEO. Since its founding in 2012, kubo has given out 2,200 loans that represent $46 million pesos MXN. These numbers of loans were originated by processing over 18,000 credit applications.

Vicente joined Endeavor as an entrepreneur in 2004 as the founder of Fincomun before he went on to start kubo. With kubo, Vicente and his team have been active members of the network, participating in Endeavor Investor Network events, working with expert mentors, receiving support from the EY Vantage and eMBA programs, and giving back to Endeavor Mexico.

Read more about the news by clicking here.

Endeavor Brazil’s Entrepreneurial City Index Ranks Quality of Entrepreneurship Across the Country

endeavorbrasilEndeavor Brazil, with support from Bain & Company, published an Entrepreneurial City Index of Brazilian capitals in an attempt to understand the country’s entrepreneurial ecosystem, as well as draft local policies to encourage high-impact entrepreneurship.  The results will serve as an assessment tool for public managers and support organizations interested in economic impact in the cities, and for entrepreneurs to make more informed decisions when choosing where to start their businesses.

The creation of a positive environment for entrepreneurial activity is a concern for countries with a range of economic development; entrepreneurs play a significant role in such productivity and are agents of generating wealth. Policies aimed at generating entrepreneurship, thus, are important to a country’s economic well being.

Starting a new business in Brazil requires a huge amount of effort. Entrepreneurs face daunting obstacles daily, be it finding new customers, managing budgets, or simply building a qualified team. Endeavor developed a unique framework for assessing the business environment in Brazil’s regions. To build this framework a set of economic, institutional and social indicators from all 14 cities were organized and collected.

The study’s framework focuses on seven determinants that form the ranking themes. These include: Regulatory Environment, Infrastructure, Market Conditions, Access to Capital, Innovation, Human Capital, and Culture.

Regulatory environment deals with permits, inspections, and labor laws, particularly on the length of proceedings and the cost of taxes measured by the effective taxation of small and medium ventures.
Infrastructure focuses on two main groups: long distance transportation and urban conditions. Sao Paolo took first place in Market Conditions, the next determinant.
Market Conditions concern economic development and potential clients.
Access to Capital is another very important determinant for an entrepreneurial city. The two main categories for determining access to capital are available capital via debt and access to venture capital. For a new company, it is often difficult to think about investing in the future when the present is uncertain, so access to investors and venture capitalists can make or break a start-up.
Innovation focuses on investment intensity and generating innovation potential.
Human Capital  deals with the availability of skilled and basic labor.
Culture plays a large role in the success of entrepreneurial ventures in Brazil. A society’s vision of and attitude towards entrepreneurship is a noteworthy factor in whether or not entrepreneurs will be successful in a determined city.

After a thorough analysis of the results, Florianópolis, an island region in the South East of the country, came in first place. Thirty years ago the city could not have imagined its current success, but hard work and the alignment between economy, government and society, made this island a hub for entrepreneurial growth. This data will allow regional governments to better understand their position in the entrepreneurial spectrum, and allow them to grow and develop into their own successful entrepreneurial sites.

Read the report below and download it by clicking here.

June 2015 Newsletter

june newsletterTo view Endeavor’s June newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Greece’s Green Cola Receives a Twenty-Five Percent Equity Stake Investment

Yiannis Chitos, Chairman of Chitos S.A., a leading Greek beverage manufacturer, has acquired a 25% equity stake in Green Cola, founded by Endeavor Entrepreneur Periklis Venieris. Green Cola has become one of the fastest growing consumer goods brands in Greece. The company has already successfully positioned itself in the Greek market and has grown its presence to Israel, Cyprus, Serbia, Romania, Bulgaria, Belgium and Australia.

Green Cola introduced a cola-type product in 2012 that offers natural ingredients and fewer calories without sacrificing the taste of traditional soft drinks. The company now operates in the beverage industry through its subsidiary EPAP, maintaining a legacy that spans over half a century in the production and bottling of soft drinks. In 2013, the company launched a larger array of low-calorie and high-quality products. EPAP currently owns exclusive production and use rights of Green Cola products for Greece and 12 other international markets.

Chitos S.A. and Green Cola signed and drafted a five-year business plan which will allow them to expand Green Cola’s presence and activities into national and international markets. Green Cola will form a new board with Yiannis Hitos serving as executive chairman. Hitos’ company Chitos S.A. is one of the most successful Greek companies in the field of bottled water. They have a registered office in the Ioannina region and has steadily evolved into a dynamic brand which significantly contributes to the Greek economy.

Since his selection by Endeavor in 2014, Periklis has received introductions to investors and strategic mentors. Read more about the news by clicking here.

Endeavor Marks Third Expansion in Europe with Launch in Bulgaria

 

Sofia, Bulgaria – June 1, 2015 – With the launch of an office in Bulgaria, Endeavor now has a presence in three European countries. With the support of some of Bulgaria’s top business leaders, Endeavor will focus on fostering the entrepreneurs with the most potential to create jobs and transform the regional economy. Endeavor first expanded in Europe in 2012 with Endeavor Greece followed by the launch of Endeavor Spain in 2014.

Bulgaria has come a long way from its turbulent political and economic transition in the 1990s to becoming a member of the European Union in 2007. With average annual economic growth reaching 4% over the past decade, Bulgaria needs to build on the its achievements and continue to stimulate employment, business and investment growth. According to conclusions from the Global Entrepreneurship Index, Bulgaria is in need of institutional progress in the ecosystem that will result in more high-quality and innovative ventures that can continue to propel its development. Slowing recovery from the 2008 economic crisis demonstrates that there are still many challenges to the quality of entrepreneurship in the country, but the general population has a better than average attitude towards entrepreneurial activity when compared to the rest of the EU.

High-impact entrepreneurs have the potential to transform Bulgaria into a hub of innovation and entrepreneurship, which will create role models and inspirational stories for future generations to follow. Given access to the right mix of mentors, business networks, capital and strategic advice, Endeavor Entrepreneurs around the world have successfully attracted top talent and investment to the regions that need it the most.  With a favorable environment for entrepreneurial growth, Bulgaria has the necessary infrastructure to build a support network for businesses that can move the needle of the economy.

“We are thrilled to continue our growth in Europe with this expansion in Bulgaria, which will continue the amazing work that Endeavor has already done in Greece and Spain,” said Endeavor co-founder and CEO Linda Rottenberg. “Great talent and ideas exist in every region of the world and Endeavor will help showcase Bulgaria’s top entrepreneurs on a global stage.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success. In the past 17 years Endeavor has selected over a thousand entrepreneurs from 22 countries around the world in North America, Latin America, Africa, Europe, the Middle East and Southeast Asia. In 2013, these entrepreneurs generated $6.8BN in revenue and created 400,000 jobs.

All of Endeavor’s global affiliates are spearheaded by a local board of business leaders and entrepreneurs. The Endeavor Bulgaria founding board include: Nedelcho Spasov, Co-Founder of Easy Asset Management; Christo Iliev, Founder & Executive Chairman of AG Capital; Lyubomir Minchev, Founder & CEO of Telelink; Atanas Simeonov, CEO of S Group; Vassil Terziev, Chief Innovation Officer of Progress Software; and Ivo Evgeniev, Co-Founder of Rosslyn Capital Partners.

“The Board of Endeavor Bulgaria looks forward to mentoring and supporting the best entrepreneurs across the country,” said Board Chairman Ivo Evgeniev. “We are at the start of making a significant and lasting impact on the entrepreneurial ecosystem in Bulgaria.”

Angel Kelchev will serve as Managing Director to oversee the successful launch of Endeavor Bulgaria. Angel has over eight years of M&A experience both in the U.S. and in Bulgaria. He has previously advised U.S. companies from a variety of sectors in the technology space, as well as various Bulgarian companies across sectors (e.g., telecom, FMCG, retail, agriculture, etc.). As MD, he will lead the day-to-day operations of the office in Sofia and will be involved in screening local entrepreneurs for selection into the network.

20 Entrepreneurs from 15 Companies Selected into the Endeavor Network at 59th International Selection Panel in Amman

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Amman, Jordan – June 12, 2015 – Twenty high-impact entrepreneurs representing 15 companies and 10 countries were welcomed into the Endeavor network after the 59th Endeavor International Selection Panel (ISP).

Endeavor now supports 1,102 High-Impact Entrepreneurs from 694 companies across the 23 markets where it operates. This newest group of entrepreneurs was chosen at a panel held from June 9-11 in Amman, Jordan.

The conclusion of an intensive multi-step selection process that is the foundation of Endeavor’s model, the ISP brought together top business and industry leaders from the Middle East and all around the world. These panelists spent a day interviewing entrepreneur candidates to learn more about their businesses and identify those with the most potential for high-impact growth. They then deliberated on whether or not the candidates should become part of the Endeavor network and help lead the entrepreneurship movement in their countries.

“It was great to see so many top members of the Endeavor network come together in Amman, not only for the ISP but also for the Catalyzing Conversations investor event,” said Endeavor co-founder and CEO Linda Rottenberg. “I am proud of the team of Endeavor Jordan for leading the country’s high-impact entrepreneurship movement over the past six years.”

After their selection into the network, Endeavor Entrepreneurs are given access to world-class services and programs, including introductions to local and international mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Since 1997, Endeavor Entrepreneurs have created hundreds of thousands of jobs and built sustainable and transformative growth models in their home countries. In turn, they become crucial role models for future generations of entrepreneurs.

Endeavor will be hosting three more International Selection Panels in 2015. Locations will be in San Francisco Bay Area, CA; Marrakech, Morocco; and Mexico City, Mexico

Brief descriptions of the newly selected entrepreneurs and their companies follow.

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Panelists interviewing entrepreneur candidates

EGYPT

Entrepreneurs: Mai Medhat & Nihal Fares
Company: Eventtus
Eventtus provides event organizers with all-in-one platform to consolidate efforts for event planning, marketing, and ticket sales, while engaging attendees before, during, and after events. Through the Eventtus-branded mobile app, organizers sell tickets and provide a tool for attendees to plan their agenda, network with other participants, and collaborate through interactive forums, surveys, and polls. Eventtus collects data about user engagements and responses, which organizers leverage to measure ROI and improve future events. Eventtus has helped 700 organizers host 6,000 events, including Step Conference Dubai, RiseUp Summit Egypt, Startup Weekend in 5 cities, TEDx events, and conferences for Vodafone, Nokia, and Mercycorps.

INDONESIA

Entrepreneur: Odi Anindito
Company: Coffee Toffee
Indonesia annually produces more than 720 million kilograms of coffee, making it the world’s third largest producer. Yet, Indonesia does not even crack the top 60 in terms of coffee consumption per capita according to a 2014 Euromonitor report. That will soon change; with domestic consumption expected to reach 400,000 tons in 2016, a 33% increase from 2014. To sate their caffeine need, Indonesians head to Coffee Toffee, Indonesia’s largest domestic coffee company.

JORDAN

Entrepreneurs: Mohammad Al-Shaker & Yousef Wadi
Company: ArabiaWeather Inc.
ArabiaWeather Inc. is the MENA region’s first devoted Arabic weather multiplatform (web, video, social media). ArabiaWeather collects raw data from regional satellites to generate hyper-local, real-time weather forecasts based on proprietary algorithms, distributed through its B2C and B2B channels. The B2C channel features 5-day hourly to 14 day extended weather forecasts in Arabic for 5000+ locations in 22 countries with revenue driven by platform advertising. In 2014, ArabiaWeather.com had 20 million unique visitors (15% of internet users in the region.) The B2B offerings involve customized weather services and solutions—such as advanced early weather warning systems for airlines– that help businesses (i.e. media, aviation, agriculture, construction, and oil and gas sectors) save time and money and protect property.

Entrepreneur: Penelope Shihab
Company: MonoJO
Description: : MonoJO is a biotechnology company that researches the benefits of the Middle East’s untapped resources—ultimately creating products for a variety of industries, ranging from cosmetics to pharmaceuticals. Founder and CEO Penelope Shibab has led the company to commercialize its first line of products, Skinue, an anti-acne product line made with camel’s milk that is based off of ten years of R&D. By 2017, the company plans to launch a Gastritis cure using camel milk and a biosensor used to measure diabetes. MonoJO has crucially secured a mutual collaboration agreement with the University of Cambridge and is backed by Dr.Samih Darwazah, the founder of MENA’s largest pharmaceutical company.

Entrepreneur: Ibrahim Safadi
Company:Luminus Education
Description: Luminus Education is an umbrella educational company that has six different brick-and-mortar subsidiaries in Jordan, Iraq, UAE and the UK aimed at fostering better vocational, technical and soft skills amongst the Arab youth. Luminus has successfully graduated more than 30,000 students from across 23 countries and employs more than 560 professionals from around the world. Driven by the critical and growing issue of MENA unemployment, Luminus is looking to further expand its operations across the region with the aim of becoming the Middle East’s leading vocational and technical education institution for employment.

LEBANON

Entrepreneur: Antoine Saab
Company: Energy24
Energy24, with its energy storage solutions (ESS), is charging Lebanon with ESS-ault and battery. Lebanon’s booming population growth overburdens its aging power grid, which is unable to match growing demand. The government’s provision of 1,900 megawatts annually matches only 60% of the country’s electricity needs, resulting in power outages of two to 12 hours daily. Energy24 augments the shortcomings of Lebanon’s formal electricity provider by offering energy storage solutions that stock energy while the power is on, and release it to for consumption during power outages. Energy24’s batteries provide savings of 60% on energy bills, and access to uninterrupted power for up to 72 hours.

Entrepreneurs: Rima Koteich El Husseini & Rana Koteich Najjar
Company: Blessing
Blessing is a chocolate, sweets, and gifts company based in Beirut, Lebanon. The company offers ready-made and customized products for special occasions, including weddings, christenings, corporate events, and holidays. The company has six branches, partnership agreements, and franchise stores across Lebanon, Bahrain, the Kingdom of Saudi Arabia (KSA), and United Arab Emirates (UAE). In the next five years, the entrepreneurs plan to aggressively expand in the region by opening a flagship store in downtown Beirut, new partnership and franchise stores in KSA, UAE, Morocco, Kuwait, and Oman, and an online store. The sisters are working closely with Francorp, a franchise consulting company, to manage and finalize all franchise processes.

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Panelists in a deliberation moderated by Endeavor CEO Linda Rottenberg

MEXICO

Entrepreneur: Manuel Wiechers Banuet
Company: Ilumexico
Ilumexico is a Mexican social enterprise that provides energy access via solar to rural populations. In Latin America, there are over 30 million people without electricity. In Mexico, there are three million – 600,000 households that you candles and fire for light. Ilumexico provides solar energy household systems through four steps in the value chain: 1) Technology – solar transfer products, electronic circuits, 2) Distribution – distribution network through rural branches and local technicians, 3) Financing – provide users with different financing plans according to their needs (the majority cannot buy the equipment upfront), 4) Community Programs – develop community programs specifically targeting organizations that would use the product, financial education, environmental awareness.

MIAMI

Entrepreneurs: Juha & Johanna Mikkola
Company: Wyncode Academy
Wyncode Academy, Florida’s first independent coding boot camp, aims to address the need in state’s growing tech ecosystem for developer talent. The Academy’s course offerings center on a full-time, nine-week web development course that prepares students to step into junior full stack web development jobs upon graduation. The dynamic curriculum is tailored to meet the needs of Wyncode’s 100+ local hiring partners who include South Florida’s top recruiter of developers (CareCloud) and Endeavor entrepreneurs and candidates. Wyncode has graduated 68 students from its Miami location since the inaugural cohort in May 2014. Wycnode’s second location in Ft. Lauderdale launched with its first cohort in April 2015. Success is defined by job matches: 92% of graduates are employed within three months, 86% in the Miami-FTL-West Palm Beach MSA.

MOROCCO

Entrepreneur: Kamal Reggad
Company: Menaclick
Menaclick is an ecommerce holding company composed of three award-winning sites: Hmizate.ma, Hmall.ma, and Vayago.com. Hmizate.ma is a portal for daily deals with an emphasis on travel but with vouchers for anything from live events to consumer tech. Hmall.ma is an online B2C marketplace with a mission to connect thousands of vendors with million of consumers. Vayago.com is a global hotel booking engine through which consumers can compare prices and make reservations at hotels around the world. Vayago is the first and so far only website in Morocco to facilitate foreign transactions online using locally-issued cred cards, making it the best option for Moroccans to make international travel plans.

SOUTH AFRICA

Entrepreneur: Gys Kappers
Company: Wyzetalk
When companies employ hundreds, even thousands of workers, getting everyone on the page can be difficult task. Establishing clear channels for communication and collaboration from the C-level executives to entry-level workers is a Herculean task. Wyzetalk breaks down these silos, through its mobile-based business communication platform that allows enterprises to drive effective collaboration and innovation. Users can broadcast announcements, deploy surveys, upload files, among other tools. CNN listed Wyzetalk as one of the top 10 African Startups that rocked 2014 and Gys intends to keep up the momentum to become the premier collaboration platform in Africa.

TURKEY

Entrepreneur: Ahmet Bilgin & Koray Bahar
Company: Fit Solutions
FIT Solutions is taking paper out of the picture. A wave of digitization has engulfed the world of B2C transactions: from Amazon to the Apple Store, buying online is now the status quo. Meanwhile, the B2B world remains stuck inside a time capsule, with businesses still conducting transactions through sales reps, paper invoices, and fax machines. Regardless of the fact that the B2B ecommerce market is widely predicted to be at least 10 times greater than the B2C ecommerce market (up to US$1.5 trillion globally, by some predictions), few companies have dared to tackle the challenge of digitizing business-to-business dealings – until now. FIT Solutions moves invoice and ledger procedures from paper to digital, allowing companies to transition their B2B transactions online.

Entrepreneur: Güçlü Gökozan
Company: BuldumBuldum.com
Turkish for Eureka Eureka!, Buldum Buldum describes a consumer’s feeling upon discovering the abundant means to create unique merchandise on BuldumBuldum.com. Through the ecommerce site through, individuals and small business owners can design and procure affordable, customized gifts and professional marketing materials with no minimum requirement. The newly launched BuldumBuldum.com marketplace is a forum for artists, celebrities, and trademarked brands to open their own shops and sell exclusive designs. Through exclusive licensing agreements, BuldumBuldum will be the only online marketplace selling major trademarked brands such as Disney, Marvel, and Warner Bros. Poised for exponential growth, BuldumBuldum has Endeavor’s name written all over it.

UAE

Entrepreneur: Aly Rahimtoola
Company: Harmony Cosmetics
Harmony Cosmetics is an all-natural, carcinogen-free UAE-grown beauty company that aims to fill a market gap with its brand Essentials. The brand uses ancient Ayurvedic recipes and Himalayan ingredients to offer its clients high quality, yet affordable, all-natural beauty products. Essentials is currently ranked 8th out of 63 brands sold in Boots UAE (the top 7 owned by global conglomerates). As the only PETA approved beauty product in MENA, Essentials is differentiating itself from conglomerate brands as a boutique brand that is in tune with consumer concerns.

Entrepreneur: Riath Hamed
Company: Balqees Honey
Yemeni honey is one of the purest, most exclusive natural elixirs in the world: extracted from natural desert oases, it is made by bees that feed off medicinal plants and flowers, and have never been exposed to pesticides or preservatives. The result is a full-bodied, thick honey with a rich flavor palate and unique nutritional and medicinal properties. Honey of this caliber is nearly impossible to buy at your typical supermarket. Balqees increases accessibility to the world’s most exclusive honey by supplying, packaging, and distributing it across the Gulf. Through its 13 retail kiosks, Balqees is bringing a buzz-worthy product to the Gulf States, which imported US$1.6 billion in honey in 2014 alone. It plans to diversify its product offering and expand its network of kiosks in high-end malls to penetrate the luxury hospitality sector in the Gulf.

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Endeavor CEO Linda Rottenberg addressing ISP participants

South Africa’s DJ Kumbula, Co-founder of InnoVent, Profiled By National Newspaper Business Day

innoventDJ Kumbula, founder of InnoVent, was profiled in  national South African newspaper Business Day Live for his work in promoting sustainability and recycling in the tech industry. Kumbula co-founded InnoVent in 2003 with fellow Endeavor Entrepreneur Zakhe Khuzwayo with the aim of creating a technology rental agency that promotes efficiency and sustainability.

InnoVent, with over two billion Rand in assets under its management, uses the model of a traditional rental system but focuses on technology, with assets such as laptops, desktops and servers. The renting period for these products averages about three years, after which they are returned to InnoVent. Kumbula’s second venture, Qrent, was born from these returns. Qrent refurbishes the returned computers and rents them for short amounts of time to large regional clients like the Independent Electoral Commission and Statistics SA.

The profile discusses Qrent’s recent partnership with Discovery, a company they had approached four years earlier with a set of three-year-old Dell computers. According to Qrent’s analysis, Discovery saved nearly 50% on technology over four years, serving as just one example of how the company’s model can help similar clients achieve both sustainability and cost savings. Kumbula has begun expanding into the African continent, focusing on Zimbabwe, Zambia, and Tanzania, with over 100 InnoVent and Qrent employees currently located across the four countries. With a recent seed investment from a regional bank, Kumbula and his team plan to diversify their rental portfolio and eye international expansion opportunities as they take the company to scale.

Selected into  Endeavor in 2009, the entrepreneurs have received mentorship from a local advisory board of business leaders as well as support from Endeavor’s international mentors. Endeavor has also connected the team to potential entrepreneurs and consultants from global Fortune 500 companies.

Read all of the BDLive coverage by clicking here.

Argentina's Susana Balbo, Founder of Dominio del Plata, Recognized as “Woman of the Year” by The Drinks Business

Endeavor Entrepreneur Susana Balbo, founder of Argentina winery Dominio Del Plata, was recently name “Woman of the Year” by The Drinks Business, a leading drinks-focused trade publication. In its 12th annual Awards ceremony, Balbo – Argentina’s first female winemaker – was recognized as a top performer in the international drinks industry by a panel of business professionals from across the sector.

The Awards are given across four categories that honor everything from marketing to supply chains. Balbo was recognized for defying the societal norms of her time and becoming a high-impact entrepreneur who has gone on to influence the Argentine ecosystem. After earning her license in 1981, and graduating at the top of her class, Susana became the first woman to achieve this feat in Argentina. Her dream, which she soon achieved, was to open her own bodega and manage her own wine label. Over three decades, Susana has become a valuable consultant for national and international bodegas. She was elected as President of Wines of Argentina (WOFA) on three occasions. Dominio del Plata, which is located in the Mendoza wine region, is an innovator in its industry. Through a unique environmentally-friendly model, the winery uses water recycling and reduced packaging weight to decrease its environmental impact.

“This recognition has been for me the culmination of hard work and creativity used to fulfill my passion… making wines,” said Susana in reference to the honor.

Since her selection by Endeavor in 2003, Susana and her team have been active members of the network. She has attended a number of industry tours and Entrepreneur Summits both on a global and local level. Dominio has also benefited from consultants provided through Endeavor’s talent and education programs.

Read more about the news by clicking here.

Endeavor Mexico Maps the Multiplier Effect of Mexico City's Tech Sector

endeavormexicoEndeavor Mexico released a report on the “Multiplier Effect” of tech entrepreneurs in Mexico City, mapping the connections between entrepreneurs and influencers who are shaping and influencing the local ecosystem. A key component of  Endeavor’s model, this multiplier effect demonstrates the power of entrepreneurs to mentor, invest and inspire future generations.

The map of Mexico City focuses on a few key connections –  the ability of successful entrepreneurs to multiply their impact through the pillars of inspiration, investment and mentorship. The study consists of six parts: an introduction, analysis of results, findings, case studies, in-depth interviews and conclusions.

The map found that in the early 1990s, there were isolated entrepreneurial efforts in the field of IT, some of which would scale up and become big players in the sector. Many of these early entrepreneurs, partners and founders would go on to launch second and third ventures. Beginning in 2003, Mexico City begins to form a robust ecosystem through the impact of entrepreneurs who were beginning to mentor and invest in other startups in their network. By 2014, the ecosystem reaches a peak. However, only 14% of these connections were investment-based, demonstrating a key challenge that still needs to be addressed in the ecosystem.

Learn more about the findings and read the full study in Spanish by clicking hereor download a PDF version here.

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Turkey's Iyzico Raises Series B Round of Funding with Participation from Endeavor Catalyst

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The Istanbul-based Iyzico, founded by Endeavor Entrepreneurs Barbaros Özbugutu and Tahsin Isınraised a  $6.2 million Series B round of funding led by IFC, 212 and Speedinvest, with participation from Endeavor Catalyst.  The payments company provides a platform to let e-commerce sites and other apps easily and efficiently accept online payments.

Iyzico offers its clients over 22 different payment options and features like recurring payments, bin control, one click payments, installment payments, bank transfers and marketplace solutions. Since it was founded in 2012, the company has raised $9.4 million in funding. Iyzico will use the new capital to expand its research and development team and scale its payment technology around the world. Specifically, the company is planning to expand beyond Turkey and target the Middle East, aiming to become the leading payments platform of its kind in the region. Without major competitors in Turkey, Iyzico is poised to dominate the local sector.

“Our goal is to become the Stripe of the region,” said CEO Barbaros Ozbugutu in a statement. “It is particularly exciting to work with the IFC – a body with tremendous knowledge and experience in financial tech sector worldwide. Having become the leading payment solution for online businesses and enterprises in Turkey, Iyzico is enthusiastic to take its technology global.”

Since their selection in 2014, Iyzico’s team has already proven their high-impact potential, acquiring analytics firm MyPat.co and receiving tailored mentorship from local and global business leaders as well as other Endeavor Entrepreneurs.

Read more about the news in TechCrunch and Turkey’s Hurriyet Daily News.

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities.

Learn more about Endeavor Catalyst by clicking here.

iyzico

Barbaros Özbugutu and Tahsin Isın with Endeavor Turkey staff

EY World Entrepreneur of the Year Event Gathers Network Members in Monaco

ey_logo_detail copyEY’s World Entrepreneur of the Year event in Monaco brought together over 50 members of the Endeavor network including entrepreneurs, board members, staff and mentors. Saudi Arabia’s Lateefa Alwaalan, Chile’s Rolando Carmona and Colombia’s Nicolas Loaiza Galeano and Gigliola Aycardi Batista were also named 2015 EY Entrepreneurs of the Year in in their respective countries.

EY, an Endeavor global partner, has been hosting the EOY Program for over two decades, expanding it to more than 50 countries with awards presented annually to over 900 of the world’s most successful and innovative entrepreneurs. The three day WEOY event brought together Endeavor’s network in an organization specific gathering to celebrate the success of entrepreneurship in so many diverse and varied markets.

The entrepreneurs will join winners from over 50 countries at the World Entrepreneur Of The Year event in Monte Carlo in June 2015. The judging process was based on numerous criteria that included entrepreneurial spirit, financial performance, strategic direction, social impact and influence. The program celebrates the success of entrepreneurs who build and lead successful, growing and dynamic businesses. EOY has been running for 28 years by EY in 145 cities across 60 countries. The Awards recognize outstanding entrepreneurs for their vision, innovation, courage, and leadership in building and growing successful businesses.

Selected into the network in 2014, Lateefa founded Yatooq in 2011 with the vision of bringing curated Arabic coffee to the world. Since her selection, she has participated in key network events including the 2015 Endeavor Entrepreneur Retreat. She has also made a number of connections with industry experts and potential investors since joining the network. She was chosen from a group of 11 finalists from 10 companies by an independent panel of judges at the EOY event, which was held under the patronage of HE Dr. Tawfiq Al Rabiah, Minister of Commerce and Industry. 

Based in Bogotá, Nicolas and Gigliola envisioned BodyTech as more than just a gym – the health club has grown to offer multiple solutions in the medical arena as well. Now with locations spanning major metropolitan areas including Bogota, Medellin and Cartagena, Bodytech also maintains locations in Chile and Peru with plans to expand across the region. With access to the right resources, Nicolas and Gigliola are a testament to the high-impact potential of emerging market entrepreneurs and have been active members of the Endeavor network since their selection in 2007.  The pair was also honored as EOY winners in Colombia in 2014.

Founded in 1990, Drillco is the leading Chilean designer and manufacturer of many high-quality mining products and tools, including drilling hammers and accessories that service the mining, natural resource excavation, quarry, civil works and water industries. Since joining the Endeavor network in 2003,  Rolando has served as both a panelist and mentor for the Endeavor network, giving back to the local ecosystem by supporting the next generation of Endeavor Entrepreneurs. Drillco has also benefited from a number of network connections with business leaders and other entrepreneur companies, as well as Endeavor talent initiatives including the eMBA, G-Lab and EY Vantage programs.

Learn more about the 2015 EoY winners by clicking here.

Endeavor UAE Networking Event Brings Together 100+ Network Members and Business Leaders

UAE-colorEndeavor UAE hosted a networking event this month in Dubai that convened network members, mentors and entrepreneurs from around the world for a night of connections, knowledge-sharing and discussion. Over a hundred people – including regional business leaders and potential mentors – participated.

Entrepreneurs from four countries as well as the UAE were in attendance, demonstrating the global impact of the event. This included Egypt’s Ahmed Ragab (Baraka Optics); Greece’s George Frangakis (Think Digital Group); Jordan’s Charif Mzayek (Alissar), Jalil Allabadi (Altibbi.com) and Mohammad Asfour (Kharabeesh); Spain’s Francesc Domingo (World Sensing); UAE’s Derv Rao and Ravi Bhusari (DuPlays), Sassan Dieter Khatib-Shahidi (GIT), Idriss Rifai (Fetchr), Mona Ataya (Mumzworld.com), Shahriar Khodjasteh (DDE) and Wadih Haddad (The Box). From Endeavor UAE’s local network, 12 mentors also attended. The night was sponsored by MAF Trust, whose CEO is Endeavor UAE Board Member Souheil Hajjar.


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The crowd during the event


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Endeavor UAE Managing Director Noor Shawwa


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Mentors networking with guests


May 2015 Newsletter

may newsletterTo view Endeavor’s May newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Insight Releases Southeast Michigan Scaleup Assessment

endeavor_insightWith the launch of its affiliate in Detroit, Endeavor has doubled down on scaleup entrepreneurs throughout the U.S. As part of this commitment, Endeavor Insight is launching the second in a two-part series of reports focused on the region’s scaleup entrepreneurship ecosystem.
 
The first report, released in February, identified a region-wide scaleup gap. Between 2007 and 2012, the number of Southeast Michigan scaleups, those firms growing at 20% or more per year, has decline by more than 50%. The correlation between this growing gap and the region’s elevated unemployment rate is more than a coincidence. Instead, these companies are important engines of Southeast Michigan’s economic growth, creating 94 jobs on average between 2009 and 2012. In comparison, startups created just two jobs per company, on average, in that time period.
 
As part of the second report, Endeavor Insight has explored some of the drivers and barriers to the success of Southeast Michigan’s scaleup firms. To better understand the opportunities for a scaleup-led renaissance, we spoke with over 50 Southeast Michigan scaleup entrepreneurs. What they told us about the strengths and weaknesses of the region was quite surprising.
 
Four out of five of the Southeast Michigan entrepreneurs we spoke with noted that the region has excellent quality of life and a wealth of potential customers. Over two-thirds have been able to grow their businesses because of great access to talent, both technical (from the region’s world-class universities) and managerial (from its Fortune 500 companies).
 
On the flip side, several challenges constrain these regional scaleup firms. Over half of Southeast Michigan entrepreneurs lack adequate access to finance. A majority of these entrepreneurs are also missing great mentors who can help take their businesses to the next level. Most of these companies, despite being successful, haven’t generated many employee spinouts–companies started by former employees of a scaleup entrepreneur.
 
As part of its launch, Endeavor Detroit is working to fill many of these gaps, and is encouraging local leaders to focus on the potential that scaleup companies have for generating lasting growth throughout Southeast Michigan. Read and download the report by clicking here.

 

 

Endeavor Investor Network Convenes Over 120 Entrepreneurs and Investors in NYC

Investor network LogoOn May 5th, the Endeavor Investor Network convened growth market leaders in New York City for a day of networking and learning. The invitation-only event gathered over 120 participants including Endeavor Entrepreneurs and leading investors from 22 markets.

The theme of this gathering was “Growth Market Unicorns, Narwhals and other rare Entrepreneurial Creatures: A guide to building million (and billion) dollar companies in markets you might not expect.” The aim of the event was to demonstrate that amazing companies can come from anywhere by showcasing entrepreneurial success stories from emerging markets.

The day started off with an entrepreneur-only session led by seasoned venture investor Scott Booth (Eastern Advisors), who discussed the “10 Things all Entrepreneurs Should Know About the Fundraising Process.”

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Endeavor Entrepreneur Martin Migoya leading a session

This was followed by a series of TED-style talks by all-star founders Mark Chang (Jobstreet, Founder & CEO), Martin Migoya (Globant, Co-founder), and Arda Kutsal (Webrazzi, Founder & CEO). All three speakers shared their inspiring stories of building million (and billion) dollar companies in Southeast Asia, Latin America and Turkey, respectively.

“This is our largest Endeavor Investor Network gathering ever,” noted Beth Robertson, the manager of the Investor Network program based in Endeavor’s San Francisco office. “The demand from top-tier venture capital and growth equity firms shows a real interest in these markets from some of the world’s best investors.”

Following lunch at the Bryant Park Grill, over 500 formal speed-networking connections were made during two hours of one-on-one conversations between Endeavor companies and investors. Participating investors included General Atlantic, GE Ventures, Riverwood Capital, The Abraaj Group, Warburg Pincus, Stripes Group, IFC and Bessemer Venture Partners, among others.

During the closing cocktail, attendees heard from three entrepreneurs who are poised to become industry leaders and role models, including Sina Afra (Markafoni, Co-founder), Niki Luhur (Kartuku, Founder & CEO), and Paulo Antunes Veras (99 Taxis, Founder & CEO).

The event was a great success and left participants feeling inspired and optimistic about the tremendous opportunity present in emerging markets.

View the event booklet here for a full agenda and list of participants. To learn more about upcoming Investor Network events, click here.

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Investor Network participants

2015 Endeavor Entrepreneur Retreat Brings Together Nearly 300 Members of the Network

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The invitation-only 2015 Endeavor Entrepreneur Retreat took place from Wednesday, May 6th – Friday, May 8th in Westchester County, New York. The Retreat offered an emphasis on peer-to-peer learning as well as a mixture of keynote speakers, site visits to Fortune 500 companies, industry breakouts, and intensive workshops focused on business development topics geared towards Endeavor Entrepreneurs. Nearly 300 members of the network convened for the event to celebrate the power of high-impact entrepreneurship.

Pre-Retreat Visits

On May 5th and 6th, a series of pre-Retreat visits allowed select groups of entrepreneurs to visit and learn from executives at major corporations, including IBM’s World of Watson, Barclays, Google, PepsiCo and EY. The topics of focus ranged from talent management to product design to transaction readiness, giving participating entrepreneurs an in-depth look at strategies for corporate innovation and growth.

 

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The mainstage during Daniel Lubetzky’s fireside chat

 

Keynotes

The Retreat featured a number of world-renowned executives, entrepreneurs and thought leaders who took the main stage in keynotes, panel discussions and fireside chats.

On day one, American Express CEO Kenneth I. Chenault was interviewed by Endeavor co-founder Linda Rottenberg about leadership and the future of the payments industry, discussing how his career path took him from the consulting world to the top of the Fortune 500. In the chat, Chenault addressed how he proved himself to be a “skunk”, or intrapreneur, at American Express by turning the century-old institution into a modern, democratic and digitally-competitive brand. Best-selling author and entrepreneur Seth Godin then took the stage to address rule-breaking in the marketing world and explore strategies for approaching advertising that could authentically engage consumers. Drawing from theories put forth in his 18 best-selling books, Godin prodded entrepreneurs in the audience to think outside of the box when approaching client and consumer engagement.

Day two brought Unilever VP of Global Media Innovation & Ventures Babs Rangaiah to discuss how he manages marketing and media activities for the company’s portfolio of CPG products sold across 190 countries. Addressing the concept of a #BrighterFuture for marketing, he discussed case studies of Unilever campaigns and how his team works to disrupt the advertising space. In a subsequent fireside chat, General Assembly co-founder Brad Hargreaves sat down with Open English’s John McIntire to discuss the future of the workforce, particularly in emerging markets where access to skills training and education are limited. The pair explored the possibilities for alternative education platforms to empower people all around the world with actionable skill sets.

 

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Vinny, Martin and Leila during their entrepreneur panel

An afternoon panel brought together top Endeavor Entrepreneurs to share their high-impact stories and discuss the importance of multiplying their impact. South Africa’s Vinny Lingham (Gyft), Argentina’s Martin Migoya (Globant) and Brazil’s Leila Velez (Beleza Natural) were interviewed by Endeavor President Fernando Fabre about their experience as entrepreneurs, the impact of joining the Endeavor network, and what it means for them to give back to their communities. The next panel brought representatives from key corporate partners including AXA, SAP, Facebook and P&G in a discussion about global corporate development and growth, which was moderated by Endeavor Entrepreneur Mariano Suárez Battán (Mural.ly).

The final day started off with a fireside with Gilt Groupe’s Kevin Ryan and Endeavor Global Board Member Nick Beim. The chat revolved around investments and how the pair discerns the potential in entrepreneurs that they place their bets on. They also addressed failure and what happens when investments go south. Following them was New York Times reporter and Pulitzer Prize winner Charles Duhigg, who drew on themes from his best-selling book The Power of Habit to explain how business leaders can shake up their routines and instill innovation in both work and life. He also delved into case studies of big brands and how they target and leverage consumer habits. The final keynote of the day brought Endeavor Global Board Chairman Edgar Bronfman Jr. and KIND Snacks founder Daniel Lubetzky to the stage to talk candidly about why social impact and community give-back is important. Lubetzky provided anecdotes from his personal family history and heritage to explain why he was inspired to build a socially-conscious brand to inspire future generations.

Breakout Sessions, Workshops and Roundtables

By attending smaller workshops and “hot topics” sessions, attendees benefited from personalized coaching and advice – in a sense, small “team meetings” – with some of the best entrepreneurial minds in the Endeavor network.

The Retreat kicked off with a number of industry breakouts that served as “ice breaker” networking sessions, which divided participating entrepreneurs by their company’s industries in a meet-and-greet format. The entrepreneur-led roundtables on the second day were helmed by a number of Endeavor Entrepreneurs from around the world, who moderated group discussions touching on topics that included social media, talent management, employee culture, leadership and more. The final day’s workshops were lead by Endeavor mentors who provided a high-level perspectives and furthered conversations about talent, branding, innovation and much more.

 

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Endeavor Entrepreneur Sally Buberman leading a roundtable

 

Endeavor Awards

The Retreat closed with an awards ceremony – with awards sponsored by EY, Barclays and Omidyar Network – that honored the most high-impact entrepreneurs and companies in the network. Read more about the Awards by clicking here.

Social Media Highlights

The offline conversations also went online with the hashtags #EndeavorRetreat and #EE2EE, as entrepreneurs shared their thoughts and connections via social media. Over 700 tweets engaging users from nearly 10 countries used the hashtags over the three-day event. Take a look at some of the highlights below.

Endeavor Expands to Third U.S. City with Launch in Louisville, KY

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Louisville, KY – May 12, 2015 – Endeavor is expanding its U.S. presence with the launch of an office in Louisville, KY that will support high-impact entrepreneurs in the greater Louisville and Southern Indiana region. With the support of key business leaders and entrepreneurs, Endeavor Louisville will help multiply the impact of the region’s most promising companies. As Endeavor’s third expansion in the U.S. following offices in Miami and Detroit, the office will leverage the region’s entrepreneurial spirit to drive job creation, wealth creation, sustained economic growth, and a culture of giving back.

Endeavor is an 18-year-old, nonprofit organization that is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. In 2015, Endeavor was awarded the Henry R. Kravis Prize in Nonprofit Leadership for helping support entrepreneurs whose companies have generated nearly 400,000 jobs in economies around the world. Founded in 1997 by Linda Rottenberg and Peter Kellner, Endeavor has helped over a thousand of these entrepreneurs build more than 600 companies across 23 markets, which have generated combined revenues of nearly $7 billion in 2013.

Endeavor Co-Founder Peter Kellner will serve on the Endeavor Louisville board, which will be chaired by Humana Co-Founder David A. Jones, Sr.

The remaining board members are:
– Ryan Bridgeman, President of RJE LLC
– Henry “Hank” Dudgeon, III, Co-Founder of Rubicon Global
– Sandra Frazier, CEO & Managing Member of Tandem Public Relations
– Dan Jones, Founder and CEO of 21st Century Parks
– Kent Lanum, President and CEO of Paul Ogle Foundation
– John Schnatter, Founder and CEO of Papa John’s International
– Kent Taylor, Founder and CEO of Texas Roadhouse

Endeavor Louisville has received and gratefully acknowledges significant funding from the Paul Ogle Foundation, the James Graham Brown Foundation, the Blue Sky Network, and The Gheens Foundation. Endeavor Louisville will work to identify high-impact entrepreneurs in the region and provide them access to a global network of markets, industry leaders, investors, and talent, helping to expand their ventures into enterprises that can propel the local economy.

Mr. Jackson Andrews, formerly a partner and managing director at Spouting Rock Financial Partners, has been named Managing Director of Endeavor Louisville to oversee its successful launch and to identify promising entrepreneur candidates.

For entrepreneurs interested in learning more about Endeavor in Louisville, please contact louisville@endeavor.org. For more information visit EndeavorLouisville.org and Endeavor.org.

Contact

Jackson Andrews
Managing Director, Endeavor Louisville
jackson.andrews@endeavor.org

Joanna Harries
Vice President, U.S. and Canada
joanna.harries@endeavor.org

2015 Endeavor Entrepreneur Awards

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During the 2015 Endeavor Entrepreneur Retreat, a closing ceremony honored entrepreneurs in the network that have made a substantial impact on Endeavor and in their own communities. The following are a list of awards and honorees.

– The Ecosystem Impact Award was given to Turkey’s Nevzat Aydın and Melih Ödemiş (Yemeksepeti) for having the greatest impact on their local entrepreneurship ecosystem by building a scalable and sustainable enterprise. Their food delivery platform was acquired for a record $589 million this year.

– The Reinvestment Award was given to Lebanon’s Herve Cuviliez (Diwanee/Leap Ventures) for making the largest reinvestment in the local community through his media company and MENA-focused venture fund.

– The Barclays Direct Social Impact Award went to Jordan’s Amin Amin (ASK for Human Capacity Building) for having a direct influence in improving the lives of people in the MENA region through his education platform.

– The EY Scaleup Award was given to Brazil’s Mario Chady and Eduardo Ourivio (Grupo Trigo) for employing the most people and earning the most revenue in 2014 through their chain of fast food restaurants.

– The Omidyar Network-Endeavor High-Impact Company of 2015  Award was given to Argentina’s Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran (Globant) for having the greatest impact across job growth, revenue growth, ecosystem growth and entrepreneur give-back. Their technology company went public on the NYSE in 2014.

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Globant accepting their Award with Endeavor Argentina network members

Endeavor Announces Partnership with AXA to Provide Support and Mentorship for Entrepreneurs

axa-group_416x416AXA and Endeavor are announcing a strategic partnership to support Endeavor’s network of over a thousand entrepreneurs in growth markets around the world. This partnership will help Endeavor as it continues to select and mentor high-impact entrepreneurs and foster long-term, sustainable growth in emerging and growing economies worldwide.

This strategic partnership covers a broad field of activities:
– AXA will directly sponsor selected networking events hosted by Endeavor,
– AXA will be introduced to scale-up businesses by Endeavor,
– Through the AXA Hearts in Action program, the Group’s executives will volunteer to mentor entrepreneurs from emerging economies.

“I am very pleased to have Endeavor as an exclusive partner to AXA especially since I think our respective missions are highly complementary. AXA exists to protect people against risks and has a responsibility to help build a safer and stronger global society. Endeavor’s mission is to lead high-impact entrepreneurship in emerging and growth economies which protects people from unemployment and directly helps build economies. This partnership will enable both organizations to help each other to achieve these objectives,” said Frédéric Tardy, Chief Marketing and Distribution Officer of the AXA Group.

“I feel this is the start of something special. AXA’s multi-year commitment across different departments to Endeavor will help us achieve our goals together more efficiently. I am very much looking forward to welcoming AXA to the Endeavor network and to bringing the benefits of this partnership with a large global financial services company like AXA to our network members,” added Fernando Fabre, President of Endeavor.

Endeavor has a long history of successfully bringing scale-up entrepreneurs from emerging and growth economies together with interested investors. Through its wide global network, Endeavor companies have raised over $532m of equity capital and have contributed to the creation of over 400,000 high-quality jobs in emerging economies.

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AXA CMO Frédéric Tardy and Endeavor President Fernando Fabre

Turkey’s Yemeksepeti Acquired By Delivery Hero for $589 Million; Marks Largest Deal in the Food-Ordering Sector

Turkey’s Yemeksepeti, a leading Turkish food ordering website founded by Endeavor Entrepreneurs Nevzat Aydın, Melih Ödemiş and Cem Nufusi, has announced that it has been acquired by Delivery Hero in a $589 million deal. This landmark deal marks the largest-ever acquisition in the food-ordering sector and the largest Internet-related deal in Turkey.

This is the first entry into Turkey for Delivery Hero, a billion-dollar takeout food service based in Berlin that continues to scale up its business worldwide. It previously acquired Endeavor Entrepreneur company PedidosYa, a Uruguay-based ordering platform serving Latin America and founded by Endeavor Entrepreneurs Ariel Burschtin, Álvaro García, and Ruben Sosenke. The cash and shares deal made with Yemeksepeti will also see investor General Atlantic becoming a shareholder in Delivery Hero. 

Delivery Hero made headlines earlier this year when Rocket Internet — another Berlin-based e-commerce company — invested $586 million in the company, which then let it to pick up nine smaller food-ordering startups to consolidate its position as an industry leader. Delivery Hero itself has raised $1.3 billion to date.

Selected by Endeavor in 2007, Yemeksepeti’s founders have received strategic guidance from Endeavor mentors as well as introductions to key investors, having attended and participated in a number of Endeavor events around the world. Endeavor Catalyst participated in Yemeksepeti’s 2012 $44 million funding round led by General Atlantic. As of 2015, Nevzat has also joined the board of Endeavor Turkey, becoming the third entrepreneur to do so locally.

As part of the deal, Yemeksepeti’s management team will stay in place.

“We are very proud to have built a company that has changed the way people think and order food in Turkey,” Nevzat said in a statement. “During our 15-year history we have had many approaches from global and local investors however we were waiting for the right time and the right partner. Today, I am delighted to team up with a company whose global ambitions, corporate culture and way of doing business are so aligned with ours. “

Read more about the news in top media outlets including The Wall Street Journal, TechCrunch, and Turkey’s Hürriyet Daily News.

Greece's HotelBrain Receives €3 Million Investment to Support Development and Growth Plans

hotelbrainHotelBrain, the Greek hotel management company founded by Endeavor Entrepreneur Panos Paleologos, recently reached an agreement with the investment fund SouthBridge Europe. The Luxembourg-based fund will invest €3 million to support the development of HotelBrain’s expansion and sustainability plans.

Founded in 2009 on the island of Santorini, HotelBrain currently manages over 110 hotels at top tourist destinations across Greece, Lebanon, Cyprus and Turkey. Named the “Leading Hotel Management Company” at the World Travel Awards last year, the company is close to reaching an agreement about managing two more hotels in Serbia. With the backing of a major institutional investor, the management of HotelBrain plans to proceed with the implementation of new development projects to strengthen its presence in international markets.

SouthBridge Europe is an independent investment management firm supporting dynamic companies and offering them growth capital. Founded in 2014, it is backed by prime private and institutional investors such as the European Investment Fund (EIF) and has €40m in committed capital to make long-term investments. This deal represents SouthBridge Europe’s first investment in Greece.

George Mavridis, SouthBridge Europe’s financial advisor announced, “The deal is a testament of the international investment community’s confidence in the company’s potential, and we hope in the process to move to other investments in Greece via HotelBrain.”

Panos added, “HotelBrain’s agreement with an institutional investor of international validity, confirms our belief that tourism is one of the most developed fields of Greek entrepreneurship and can provide know-how which can be exported.”

Selected into the Endeavor network in 2013, HotelBrain aims to contribute to the improvement of the local tourism industry, setting hotel operating and quality standards for the whole region. Though it started by managing its own leased properties, HotelBrain now offers industry expertise and professional management services to luxury boutique hotels, allowing owners to retain full control of their assets while improving guest experience and boosting revenue by 20% on average. Beyond providing consulting services, the company has built an ecosystem of entrepreneurship, creating a community of hospitality insiders and training the next generation of hotel management talent.

Read more about the news by clicking here.

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Panos Paleologos speaking to reporters in Athens

eMerge Americas Event in Miami Spotlights Stories of Endeavor Entrepreneurs

emerge-550x400During the first week of May, eMerge Americas brought a number of global thought leaders to Miami, FL to discuss how technology and innovation are disrupting industries. The conference serves as a platform to connect entrepreneurs, cutting-edge ideas, and industry leaders and investors across North America, Europe, and Latin America. This year’s event featured a number of entrepreneurs in the network as well as a panel hosted by Endeavor Miami

The five day event consisted of a number of networking and tech-focused competitions, workshops and keynotes, including a hackathon, startup showcase, women-focused summit, and more.

Highlights from the Endeavor network during the week include:

– Endeavor Miami Managing Director Laura Maydon joining a panel about game changing women and exploring the ways in which female entrepreneurs and leaders are transforming the landscape of technology.

– Endeavor Entrepreneur Michael McCord, founder of education platform LearnerNation, discussing strategies for motivating the millennial workforce with a particular focus on on-boarding and training young employees.

– An Endeavor panel featuring Endeavor Entrepreneurs Anabel Perez (Miami’s Novopayment), Sebastián Valin Acuña (Chile’s ComparaOnline) and Emiliano Kargieman (Argentina’s Satellogic) moderated by Endeavor Miami Board Co-Chair Adriana Cisneros, which highlighted high-impact entrepreneurship and the power of the Endeavor network.

– An interview with Endeavor Entrepreneur and Globant CEO Martin Migoya, who addressed taking his company public, strategies for scaling up, and the impact of Endeavor globally.

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Entrepreneurs during the Endeavor panel at eMerge

Egypt's Hassab Labs Partners with Morocco's SAHAM Group to Develop Healthcare Services Across Africa

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The Alexandria-based Hassab Diagnostic Labs, co-founded by Endeavor Entrepreneurs Mohamed Azab and Amina Hassab, recently formed a partnership with the SAHAM Group, founded by Endeavor Morocco Board Chairman Moulay Hafid Elalamy. The two companies will leverage the partnership to continue supporting and developing healthcare services across Egypt and Africa.

Saham Sante, a subsidiary of the SAHAM Group, aims to improve the healthcare infrastructure in the region by developing an African healthcare services network in line with international standards. With this objective in mind, the Group formed a strategic partnership with Hassab Labs – Egypt’s leading diagnostic services provider whose mission is to deliver exceptional diagnostic services using top quality standards, state of the art technology and medical expertise.

Established in Casablanca, SAHAM Group’s activities span 24 African and Middle Eastern countries and employ more than 6,000 individuals. This pan-African ambition has translated into a desire to encourage regional partnerships, hence becoming the majority stakeholder of Hassab Labs and contributing to the development of a rapidly growing market. Hassab Labs currently operates 30 Labs in Egypt and, through their partnership with SAHAM, aimd to expand to Morocco and three other countries in the region by the end of 2015. The company’s vision to facilitate access to international healthcare and diagnostic solutions for underserved populations will be propelled through this partnership, positioning Hassab among the top three laboratories in Africa in terms of reach and quality of service.

“SAHAM Group and Hassab Labs share commonalities in their values of integrity, ethics and social responsibility. We are committed to raising the level of Healthcare in our part of the world all while fostering an internal spirit of entrepreneurship and innovation,” said Mohamed Azab, CEO of Hassab Labs. “Being a part of the Endeavor Network established immediate trust between the two parties and expedited the conclusion of this deal, we are very happy to partner with the SAHAM Group. Our vision is much bolder now, and are very excited for what the future holds for Hassab Labs.”

Since their selection into the Endeavor network in 2012, the Hassab Labs team has benefited from customized mentorship and advisory services provided by Endeavor’s global network. The mentors have helped the entrepreneurs develop everything from HR models to operational best practices. In return, they have given back locally to Endeavor Egypt and Mohamed now serves on the Board of Endeavor Egypt.

Endeavor Holds Inagural Endeavor Investor Summit – Southern Cone in Buenos Aires

Investor network LogoThe Endeavor Investor NetworkEndeavor Argentina and Endeavor Uruguay collaborated on the first Endeavor Investor Summit – Southern Cone event in April, gathering a network of high-impact entrepreneurs and investors from across Latin America. Thirty investors from seventeen funds and six countries attended the day-long event in Buenos Aires.

Kicking off with an investor roundtable and session on raising capital, the event also consisted of speed-networking sessions between entrepreneur companies and equity partners, culminating in a networking cocktail reception. Thirty entrepreneurs from Endeavor’s network across Argentina, Chile, Peru and Uruguay attended in order to meet with investors representing Argentina, Brazil, Chile, Uruguay, the U.S. and Hong Kong.

 

The morning began with a panel which examined the regional economy and opportunities for investment across Latin America, with a particular focus on raising capital and empower entrepreneurs. The main activity of the day consisted of a speed-networking session in which 45 one-on-one meetings were held between investors and entrepreneurs. Each investor sat with 11 companies, while each entrepreneur had the chance to speak with nearly 10 funds in sessions lasting around 10 minutes.

The Investor Summits are events organized by Endeavor around the world that seeks to support entrepreneurs in the fundraising stage by providing unparalleled access to global investors. It is hosted five times a year across Latin America, Asia and North America.

Learn more about the Southern Cone event by clicking here. See photos from the event by clicking here.

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Endeavor staff, entrepreneurs and network members at the Investor Summit

Kravis Prize Awards Ceremony Honoring Endeavor Features CEO Linda Rottenberg and Endeavor Entrepreneurs

Kravis-Prize-logoOn April 23, Claremont McKenna College hosted the tenth annual Kravis Prize Award Ceremony, honoring Endeavor and acknowledging the organization’s impact on the state of entrepreneurship worldwide. Endeavor CEO and co-founder Linda Rottenberg shared insights on Endeavor’s work over the past 17 years and select Endeavor Entrepreneurs participated in a panel discussing their entrepreneurial journeys.

Held on the campus of Claremont McKenna College, the ceremony marked the tenth year of the Henry R. Kravis Prize in Nonprofit Leadership, but also celebrated the 20th anniversary of the Kravis Leadership Institute, one of CMC’s eleven research institutes. The Kravis Prize dinner, attended by members of the student body, faculty, staff, and Board of Trustees, along with past Kravis Prize winners, was a celebration of the impact of the Prize, the Leadership Institute and Endeavor.

The night also featured remarks by Claremont McKenna College President Hiram Chodosh and Chair of the Selection Committee Marie-Josee Kravis, who introduced Endeavor as the 2015 recipient. Mrs. Kravis spoke about the evolution of the Kravis Prize and how the award has touched the lives of 700 million people across the globe. Her speech mentioned the importance of empowering communities through healthcare, education, sports, and mentorship.

Linda Rottenberg remarked on the large impact Endeavor has had and on the importance of being recognized by the Kravis Prize. Rottenberg’s speech highlighted the story of Endeavor Entrepreneur Leila Velez, who came to Endeavor with a dream of beginning a haircare business ten years ago. Today, her company Beleza Natural operates 26 salons and employs over 1,000 people. Rottenberg also addressed the importance of entrepreneurship in inspiring economic and social growth, and how Endeavor has managed to find and support over a thousand high-impact entrepreneurs across the 23 markets where it operates.

Endeavor Entrepreneurs Zafer Younis, co-founder of Jordan’s The Online Project, and Alex Torrenegra and Tania Zapata, founders of Colombia’s Bunny Inc., also participated in a session celebrating high-impact entrepreneurship, sharing insights on what it takes to launch a enterprise and the value of collaboration. The session cited examples from Endeavor’s network and the role the organization plays as a catalyzer and curator of a global community of entrepreneurs.

The evening celebration ended with closing remarks by Henry R. Kravis ’67. Mr. Kravis not only spoke about Endeavor, but also about all the previous recipients of the award. He stressed the importance of metrics in measuring the impact the organization has on the community it supports.

Learn more about the event and honor by clicking here.

 

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Linda Rottenberg with Henry R. Kravis and Marie-Josée Kravis © 2015 Claremont McKenna College. Photo by William Vasta.

 

Endeavor Entrepreneurs Spotlight Youth Employment at EY Strategic Growth Forum in Rome

ey_logo_detail copyAt EY‘s first pan-Mediterranean Strategic Growth Forum in Rome, nearly 600 business executives, government leaders and entrepreneurs from across the globe came together to discuss the region’s business and investment potential. The two-day event included panel discussions with Endeavor Entrepreneurs Mostafa Abdel Moneim and Emrah Kaya, who highlighted the importance of job creation and youth employment to the region’s economy.

EY, an Endeavor global partner, hosts SGFs annually in key markets around the world. The Mediterranean forum had an inspirational line-up of speakers — from Maria Elena Boschi, Italian Minister of Constitutional Reforms and Relations with Parliament; to Steve Stathis Tzikakis, Senior Vice President and General Manager for SAP South Europe, Middle East & Africa; to José Manuel Barroso, President of the European Commission.

During the event, keynote speakers, workshops and panels highlighted various challenges and opportunities for the region. Mostafa, CEO of Egypt’s Al Sagheer Group, and Emrah, co-founder of Turkey’s Youtholding, participated in a plenary session that put a spotlight on tackling the region’s high youth unemployment rate, which currently hovers over 30 percent. Leveraging the power of entrepreneurship could be key to creating job opportunities for the region’s youth, which will ultimately be the biggest driver of economic and social growth.

Selected into the network in 2014, Mohamed Abdel Moneem founded Egypt’s Al Sagheer Group to jump-start Egypt’s beauty services industry. Operating beauty services centers in Egypt, Dubai, UAE, Qatar and beyond, the centers provide an expansive offering of treatments for hair and beauty across demographics and ages. Al Sagheer Group also imports beauty products from premium brands like Guarani, Chanel, and Dior and sells directly to customers in its in-salon boutiques and also distributes them to other salons, pharmacies, and specialty boutiques in Egypt.

Selected into the network in 2010, Emrah and his co-founder Aslı Caner have built multiple industry-leading companies and implemented hundreds of customized, creative projects targeted at Turkey’s under-30 demographic – a market that makes up over 50% of the country’s population. Youtholding now oversees various youth-specialized agencies, including The Uniclub (PR and marketing), Egitism (skills training and campus recruiting), and Youth Media (digital marketing and market research). The businesses have catered to multinationals like Unilever, Coca-Cola, and Apple, empowering better brand connections with millennials.

Learn more about EY’s SGFs by clicking here.

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The youth employment panel at the Forum

Egypt's TA Telecom Wins Red Herring Top 100 Europe Award Recognizing Technology Innovation

tatelecomEgypt’s TA Telecom, founded by entrepreneur Amr Shady, was honored with the Red Herring Top 100 Award, which acknowledges startups, scaleups and entrepreneurs that are transforming industries. Competing with hundreds of innovative companies, TA Telecom is the only African-headquartered tech company to be honored this year for its work.

Red Herring is a global media company which unites top technology innovators, venture investors and stakeholders through an innovation magazine, an online daily technology news service, technology newsletters and major events for leaders around the globe. Award winners are selected based on their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. The Red Herring editorial team selects and evaluates companies on 20 main quantitative and qualitative criteria including disruptive impact, market footprint, financial performance, technology innovation, social value, and more.

“This award is a validation of our success, and the judges’ trust in our vision, potential and capabilities,” Amr said. “African companies are carving out their success on the global tech scene.”

Selected by Endeavor in 2011, TA started as a value-added services (VAS) mobile solutions provider that delivers time- and location-specific content to subscribers. With operations across the Middle East and Africa, TA’s services range from demographically-targeted SMS advertising to custom content delivery platforms. Servicing over 10 million subscribers, TA is also working towards international growth with an expansion into South Africa supported by Endeavor. Since joining the network, Amr has been an active promoter of the organization’s work, serving as a mentor and board member for Endeavor Egypt. As a panelist at International Selection Panels, he has also played a key role in selecting new generations of entrepreneurs in the pipeline.

Learn more about the news on TA Telecom’s site by clicking here.

31 Entrepreneurs from 9 Countries Join the Endeavor Network at 58th Selection Panel in Santiago

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Santiago, Chile – April 22, 2015 – During the 58th Endeavor International Selection Panel (ISP) , 31 high-impact entrepreneurs representing 18 companies and 9 countries were welcomed into the Endeavor network.

Endeavor now supports 1,082 High-Impact Entrepreneurs from 684 companies across the 23 markets where it operates. This newest group of entrepreneurs was chosen at a panel held from April 20–22 in Santiago, Chile – also the site of Endeavor’s first-ever selection panel in 1998.

The conclusion of an intensive multi-step selection process that is the foundation of Endeavor’s model, the ISP brought together top business and industry leaders from Latin America and all around the world. These panelists spent a day interviewing entrepreneur candidates to learn more about their businesses and identify those with the most potential for high-impact growth. They then deliberated on whether or not the candidates should become part of the Endeavor network and help lead the entrepreneurship movement in their countries.

“With candidates representing industries ranging from education to transportation to e-commerce, this panel really demonstrated the wealth of entrepreneurial talent all around the world,” said Endeavor co-founder and CEO Linda Rottenberg. “Congratulations go to the Endeavor Chile team and board, particularly Board Chair Salvador Said, for bringing together so many promising entrepreneurs and notable business leaders in Santiago this week.”

After their selection into the network, Endeavor Entrepreneurs are given access to world-class services and programs, including introductions to local and international mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Since 1997, Endeavor Entrepreneurs have created hundreds of thousands of jobs and built sustainable and transformative growth models in their home countries. In turn, they become crucial role models for future generations of entrepreneurs.

Endeavor will be hosting four more International Selection Panels in 2015. Locations will be in Amman, Jordan; San Francisco Bay Area, CA; Marrakech, Morocco; and Mexico City, Mexico

Brief descriptions of the newly selected entrepreneurs and their companies follow.

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Endeavor staff members at Las Majadas Casona de Campo for deliberations

ARGENTINA

Entrepreneurs: Federico Malek & Alan Kraus
Company: Avenida!

Avenida is a one-stop-shop e-retailer that offers its customers a vast selection of brand-name products at affordable prices, with flexibility in payment and delivery. It has already raised over US$20M in capital from international VCs like Tiger Global and Naspers along with an initial seed funding from Quasar Ventures (founded by Endeavor Entrepreneur Santiago Bilinkis). Avenida’s integrated logistics allows it to have a delivery time of 48 hours compared to the typical six days of the local post. Avenida plans to have its own delivery fleet to be the first ecommerce site to offer same day delivery in Argentina—and in doing so, reach 70% of its addressable market within 24 hours.

Entrepreneurs: Linus Spatz, Dan Kaplan & Jorge Villalonga
Company: Inmunova

Nowadays, vaccines combine two types of proteins. One is naturally neutral, while the other comes from the disease. When combined, they generate antibodies, the proteins necessary to fight the target disease. Typically, these neutral proteins are only compatible with certain types of germs – only cancer germs, for example. Inmunova’s patented IMC platform uses a specialized protein that is compatible with any germ, allowing it to serve as the base for numerous vaccines. With two products in the final stages of testing (one to prevent a fatal bovine disease and another to prevent HUS, the leading casue of pediatric kidney failure), Inmunova stands to become a big shot in the the Argentine biotech scene.

Entrepreneur: Ernesto Cambursano
Company: DataFactory

For any media company covering a sports event, displaying the right stats immediately and sleekly is always the goal. But with dozens of games across numerous leagues across every night, collecting, sorting, and presenting sports events cost valuable time and money. DataFactory’s (DF) platform aggregates data from over 30,000 live events each year and displays it in esthetic, customizable visualizations. Already counting ESPN, Yahoo! and Fox Sports as clients, DataFactory plans on developing more product offerings in its unique market.

BRAZIL

Entrepreneurs: Cristiano Melles, Luiz Marsaioli & Rafael Valdivia
Company: Sociedade Grand Vivant

Sociedade Grand Vivant is a holding company that is comprised of Pobre Juan restaurants, the traditional Argentine steakhouse chain, and a secondary B2B beef distribution business. Pobre Juan serves high quality Argentine steaks with cutting-edge global recipes, inside restaurants where contemporary Latin American design and top-notch customer service combine to produce an exclusive yet welcoming dining experience. Pobre Juan’s 11 restaurants also maintain a consistent ”hometown” ambiance through live local jazz music, while boasting an expansive wine collection curated by the winner of Brazil’s national sommelier competition. Prime Cater is Pobre Juan’s beef distributor that portions and cuts the beef not only for all of Pobre Juan’s restaurants but also for three direct competitors and 20 other independent restaurants groups. The vertical integration allows Pobre Juan to source the best meat available – from Uruguay, Argentina, Brazil and Australia – portioned to perfection with 15% better margins compared to a traditional beef distribution relationship. The Pobre Juan restaurants have been awarded Best Steakhouse awards and global gastronomic prizes from a number of publications for nine of its locations.

Entrepreneurs: Francisco Salles & Renato Saraiva
Company: CERS

CERS offers online exam prep courses taught by Brazil’s top teachers. Its platform includes prep for the OAB, the Brazilian equivalent of the American Bar exam. It also offers courses for civil servant examinations that are requisite for professionals to enter government-affiliated occupations, and legal career courses that help aspiring lawyers progress in their careers. By virtue of its revenue-sharing model that provides teachers with 30-50% of the income generated from the courses they teach, CERS attracts the highest quality teachers to its platform. These teachers are financially incentivized to promote their own courses on the platform through their robust social networks.

CHILE

Entrepreneurs: Pablo Guzmán, Jovino Novoa & Sergio Guzmán
Company: Sano Seafood

Sano Seafoods is in tune with its clients’ needs. In order to quickly cook perfect entrees for each customer, restaurant chefs need uniform protein portions that are consistent in shape, size, and thickness. Ensuring this consistency, adds costs such as longer prep time and additional waste to the cooking process. Enter Sano Seafoods, a secondary seafood processor that provides value-added premium seafood products to the retail and foodservice sectors. Sano Seafoods sells uniform fish fillets to the United States and Europe, bellies to Vietnam, collars and tails to Japan, and skin and bones to fish food producers, to give every client what they want, and waste no part of the fish in the process. Sano Seafoods also processes around ten additional types of seafood in order to offer clients a one-stop-shop for all of their seafood needs.

Entrepreneurs: Hernan Restini & Gonzalo Restini
Company: FMA

Inside Chile’s illustrious copper mines, FMA is striking gold. In a US$86 billion global market for mining equipment, most machinery is mass-produced; few manufacturers create products tailored for specific challenges. These challenges arise because of the diversity of terrain and equipment inherent within mines, no two of which are alike. Mines currently rely on manual labor and poor mechanization to accomplish tasks such as changing the tires of giant dump trucks or winding the heavy electric gables of large drillers. Without proper tools, these tasks are not only inefficient but also unsafe for workers. First-Class Mining Attachments (FMA) designs and manufactures semi-customized equipment to address clients’ task-specific needs. From the Andean mountains of Peru to the desert plains of Mauritania, FMA’s clients operate in 25 countries across five continents. The company is on the brink of a major international expansion campaign to conquer the lion’s share of North American and Asian-Pacific markets.

COLOMBIA

Entrepreneurs: Juan Felipe Arbeláez & Pablo Arbeláez
Company: Vive Agro

Previously, restaurants and caterers sourced produce from farmers markets. Ripe with inefficiencies – a string of middlemen sell to other middlemen before reaching the end user – these markets force farmers to underprice their vegetables and fruits while giving restaurants little transparency over the food they use. It also required restaurants to spend valuable time and resources preparing and storing the vegetables. Vive Agro offers clients washed, cut, and ready-to-use vegetables, helping restaurants reduce their costs substantially. Meanwhile, the farmers who work Vive Agro obtain better prices on their produce and receive agricultural best practice from Vive Agro’s agronomists.

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Voting during panel deliberations

MEXICO

Entrepreneurs: Adalberto Flores & Leonardo de la Cerda
Company: Kueski

Accessing affordable capital is a longstanding problem in Mexico as a large portion of the population – the young in particular – do not qualify for a wide range of financial services – like loans, and credit cards – because of low or nonexistent credit scores. In practice, this situation means that people have high-friction alternatives to banks, such as offline pawnshop lenders, who can be slow to deliver funds. Kueski, an online micro-lending platform, applies big data and advanced analytics to approve micro-loans for Mexico’s financially underserved population within 35 minutes of customers placing their request. Fast, transparent, and available 24/7, Kueski is the most convenient lending platform for those who need an immediate loan.

Entrepreneurs: Andres Sucre, Sebastian Gomez & Adrian Cuadros
Company: Reserbus

To purchase a bus ticket in Mexico, 550 million bus passengers a year go to the station or a physical store, wasting hours of their time. At the same time, bus operators lose customer visibility and incur extra costs from maintaining physical sales locations. Reserbus solves these problems by connecting bus operators with customers through an integrated booking platform. Reserbus aggregates over 9,000 routes, and 650 destinations through 26 bus operators.

Entrepreneur: Francisco Cordero
Company: Laudex

Dinero drives diplomas. In Mexico, higher education is reserved for the privileged few, rather than the qualified masses. Only 2% of qualified applicants can afford to attend a private university, in contrast to 60% in countries such as Chile and Brazil. Laudex’s goal is to provide all Mexican students with the financial resources they need to achieve a higher education. A cohort of college-age students equal to the population of Switzerland (seven million) does not attend university in Mexico, largely due to the high cost of enrollment. Laudex continues to build alliances with Mexico’s largest private universities, it will expand its national presence.

PERU

Entrepreneur: Nicolas Droguett
Company: SeguroSimple

With SeguroSimple, five minutes could save you a lifetime of paperwork on your car insurance. The process of buying an auto insurance policy is riddled with inefficiencies for consumers: from the tedious nature of meeting with sales representatives, to the time-consuming process of sifting through tall piles of policy information. By moving the insurance industry online, developed countries now boast 50-60% online purchases of policies. Peru, in contrast, still relies entirely on offline brokers. SeguroSimple is Peru’s first digital insurance broker. The company plans to scale its business in Peru, expand regionally, and grow into new product verticals such as health and life insurance.

SOUTH AFRICA

Entrepreneur: Kirsty Chadwick
Company: The Training Room Online

Corporate training seems more like corporate torture for most employees. The global corporate training industry is notorious for its antiquated reliance on lackluster lectures and never-ending PowerPoint presentations. Existing systems are inefficient with high auxiliary costs like facilitator fees, travel, and lost employee work days, on top of the general cost of content development and upkeep. These systems also lack the multifaceted educational approach needed to effectively train today’s increasingly tech-savvy workforce. Enter The Training Room Online (TTRO), a digital learning design and development company that transforms clients’ employee training content into blended learning resources. TTRO’s strong team uses various design strategies, including animation, mobile, and video, to produce high-quality customized learning solutions that are more convenient, stimulating, and interactive than traditional offline solutions.

SPAIN

Entrepreneur: Philippe Gelis
Company: Kantox

While large businesses receive preferred foreign exchange (FX) rates from banks, most SMEs are stuck paying exorbitant fees in order to do business outside of their home market. Kantox is the first peer-to-peer (P2P) foreign exchange market that connects SMEs and Mid-Caps to each other to offer equitable trade rates. While using Kantox’s platform, the majority of clients save more than 80% than if they used a bank. This is largely because Kantox offers transparency with the live market trade rates and its clear 0.09 -0.29% commission fee, compared to banks’ typical 3.0% fee.

Entrepreneur: Daniel González de Vega
Company: Smartick

Smartick is improving mathematics learning with just one click. Malaga-born learning company Smartick channeled its inner child and ventured to make math learning fun and more effective for children, ages four to fourteen. The company built an online, adaptive platform that teaches mathematics skills. The methodology consists of daily, 15-minute working sessions in mathematics, comprehensive reading, and some cognitive domains (e.g. memory, attention, reasoning, and mental flexibility). Students work on modules that adapt in real-time to the child’s individual level and performance. Since the product launched commercially in 2011, more than 10,000 students from 35+ countries have benefited from Smartick’s highly effective approach to teaching mathematics.

Entrepreneur: Juan de Antonio
Company: Cabify

Hailing a taxi the old way in Spain and Latin America is often inefficient and difficult. Across Latin America in particular, taxis are unreliable and unsafe while black cars are expensive. Meanwhile, drivers face fluctuating salaries, depending on an unpredictable stream of passengers. With Cabify, a mobile app that connects users with drivers, users can book a car in advance, know the journey’s price ahead of time, and enjoy a quality experience. Operating in Spain, Chile, Peru and Mexico, Cabify aims to push the pedal to the metal and expand rapidly in the region over the coming years.

UAE

Entrepreneur: Sassan Khatib-Shahidi
Company: German Imaging Technologies (GIT)

GIT is leaving its imprint on businesses in MENA. As a result of the steep cost of print toner, companies save up to 50% per order by purchasing remanufactured products in lieu of Original Equipment Manufacturer (OEM) cartridges. German Imaging Technologies (GIT) is the market leader in producing remanufactured toner cartridges in MENA and has been the largest supplier in the UAE since 2007. The company sells toners that are 20-30% less expensive than OEM toners, do not compromise on quality, and have a reduced environmental impact. GIT has over 1600 corporate customers in the UAE and exports to 18 countries in the MENA region, an estimated US$1.3 billion toner market. The company is a full-service provider of printing solutions for businesses, offering renting, leasing, and sales of printer equipment as well as maintenance services. In 2011 and 2012 GIT was named one of the top 50 companies in the industry globally and an Arabia 500 Fast Growth Company.

Entrepreneur: Wadih Haddad
Company: The Box

In Dubai, a city built around luxury, extra closet space comes at a premium. Although Dubai is known for its modern skyscrapers, magnificent architectural buildings, opulent hotels, and shopping malls, real estate in the Emirate comes with a whopping price tag. As a result, the majority of residents struggle with space constraints. Until The Box built its first self-storage facility in 2008, there were few options for self or bulk storage. Founded during the heart of the financial crisis, The Box has grown to 25 facilities and 250,000 square feet within the UAE, operates facilities in Lebanon and Qatar, and has partnerships in Canada. The company plans to increase its footprint across multiple cities in MENA through opening new locations, constructing joint venture facilities, and management contracts with competitor companies leading to acquisitions.

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Entrepreneurs at Makerspace during Candidates’ Day

Endeavor Insight Report on Kenya's "Critical 5 Percent" Highlights the Importance of Scaleup Firms

endeavor_insightEndeavor Insight’s “The Critical 5 Percent” report, released with support from SAP, examines the contributions of scaleup companies towards job creation and economic growth in Kenya. The report is part of a series conducted by Endeavor Insight that focuses on scaleup ecosystems worldwide and their significance in transforming emerging  and growth markets.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual growth, are becoming a critical component of economic and social development in Kenya. The report found that Kenya needs to create more than 3.9 million new jobs for young people by 2020. Over 1.5 million people are currently unemployed in Kenya, and over a third of them are young people between the ages of 15 and 24. Kenya’s workforce is projected to grow by 3.4 million people by 2020, due primarily to new young adults entering the job market. High-growth entrepreneurs have the potential to be major job engines in the country. According to the findings, scaleup entrepreneurs represent only five percent of Kenyan firms, but created over 70 percent of the total new jobs.

With the demand for new jobs continuing to climb, high-impact companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. As the largest job creators in emerging economies like Kenya, scaleups need access to the sort of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the region.

“Despite recent political challenges, Kenya continues to experience strong growth, due to its broad-based economy, strategic location and above all, its youthful population. But without creating more jobs for its young people, Kenya will have challenges living up to its potential,” commented Pfungwa Serima, CEO SAP Africa. “Small businesses can significantly help to reduce youth unemployment in this important market. As this announcement underscores, SAP is committed to finding innovative ways to solve critical social and business issues in Africa and provide today’s young people – and tomorrow’s leaders — with access to the tools they need to succeed in the digital and networked economy.”

Read the full report below and learn more about SAP’s efforts to drive innovation in the region by clicking here. The report also received coverage in national Kenyan newspaper The Standard.

Mexico's salaUno and Chile's TriCiclos Named Schwab Foundation Social Entrepreneurs of 2015

schwab foundationThe  Schwab Foundation Social Entrepreneur of the Year Awards is an annual list of the top innovators driving global, regional and industry agendas to improve the state of their communities. The 2015 list of 31 entrepreneurs includes Endeavor Entrepreneurs Javier Okhuysen and Carlos Orellana, co-founders of salaUno, and Gonzalo Muñoz, co-founder of TriCiclos. This honor demonstrates the impact of Endeavor Entrepreneurs in the social sector and the increasing global recognition of entrepreneurs working to transform under-served communities.

Javier Okhuysen and Carlos Orellana founded the Mexico-based salaUno to help prevent avoidable blindness in Mexico through its private vision centers and clinics. Taking advantage of economies of scale, innovative surgical techniques, and a vertically-integrated supply chain, salaUno provides high quality, low-cost cataract surgery and eye care services to low-income Mexicans. Within a year of launching, salaUno successfully opened a clinic in Mexico City and completed more than 2,100 cataract surgeries. Selected into the network in 2012, the entrepreneurs have received a range of mentoring and advisory services through Endeavor, enabling them to grow the business on a national scale.

By providing Clean Points (CPs) – recycling stations where individuals can deposit recyclable consumer materials – and managing waste management logistics efficiently, Chile’s TriCiclos is one of the most reputable post-consumer recycling companies in the region and one of the few capable of tracking and monetizing compliance. CPs – 40-foot metal containers capable of receiving, processing and compacting up to 25 different types of materials – are placed in companies’ parking lots or municipal areas. They are forty times cheaper and 20% more efficient than other recycling platforms in Chile because of the sophisticated pre-processor unit. Notably, TriCiclos is the only company in Latin America that is classified as a “B-Corp” and can certify that over 90% of materials put into its social clean points will actually be recycled. Since his selection in 2014, co-founder and CEO Gonzalo Muñoz has received local mentoring services to help him develop and refine his business model.

Other Endeavor Entrepreneurs who have been honored by the Foundation in past years include Javier Lozano of Mexico’s Clinicas del Azucar, Patrick Struebi of Mexico’s Fairtrasa, Mois Cherem of Mexico’s ENOVA, Felipe Vergara of Colombia’s Lumni, and Bedriye Hülya of Turkey’s B-Fit. View the full list of 2015 Awardees by clicking here.

Entrepreneurship Ecosystem Insights Newsletter – April 2015

The April 2015 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Miami's Kairos Acquires Emotion Analysis Firm IMRSV, Expands Product Offerings

Kairos_logo (1)The Miami-based facial recognition software company Kairos, founded by Endeavor Entrepreneur Brian Brackeen, announced that it has acquired the emotion analysis company IMRSV for $2.7 million. A New York-based startup, IMRSV will be folded into Kairos’ business structure and support the company’s efforts to expand its offerings.

Founded in 2010,  IMRSV’s software allowed creators to measure accurately how people respond when they look at products, watch movies and ads on their phone, tablet or TV. Using computer vision for real-world, real-time data analysis, IMRSV’s Cara product turns any webcam into an intelligent sensor enabling new methods of interacting with objects and real world spaces. With this acquisition, Kairos – a former client of IMRSV – becomes the only facial biometrics company in the world offering both facial recognition and emotion analysis tools for developers.

Founded in 2012, Kairos’ facial recognition API captures the depths and contours of a 2D facial image through 85 points of interest and renders the image as a 3D model to ensure 99% identification accuracy. The system delivers fraud management and work automation solutions to clients through facial recognition, one-to-many identification, anti-spoofing, mood detection, gender analysis, security and compliance, mobile authentication and more. Brian was selected into the network in 2014 and has since received custom advisory services from Endeavor as well as introductions to top investors through the Endeavor Investor Network.

“Now we’ll have one API and code base to work with,” Brackeen said of the acquisition. “But more importantly, the larger sciences of computer vision and machine learning build on each other. This allows the improvement of both our facial recognition and emotion analysis because the synergies between the two are very strong.”

Another reason for the acquisition was the company’s developer focus. As part of the announcement, the company has also introduced new APIs and an SDK for facial recognition, emotion analysis and crowd analytics. Being able to combine emotion analysis and facial recognition means there are fewer APIs for developers to deal with, allowing them to incorporate Kairos’ technology more quickly.

Learn more about the news in Forbes or on Kairos’ blog.

April 2015 Newsletter

aprilnewsTo view Endeavor’s April newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Staff Convene at the 2015 Global Entrepreneurship Congress in Milan

newsletterbanner.news postAt the 2015 Global Entrepreneurship Congress in Milan, Endeavor staff members from Argentina, Brazil, Chile, Colombia, Mexico, Turkey, Uruguay, and the U.S. were present. Held from March 16th – 19th, the annual Congress convenes industry leaders, top entrepreneurs, executives and policymakers in one of the largest entrepreneurship-focused gatherings of the year.

The main planning event for Global Entrepreneurship Network, an Endeavor partner, this year’s GEC was also co-hosted by the Milan-based META Group and the Kauffman Foundation. With 4,000 participants from more than 150 countries, the four days highlighted themes ranging from scaling businesses to building urban ecosystems and featured an agenda of dozens of events. Taking the form of pitch competitions, keynotes speeches and panel discussions, these events brought a focus to all aspects of the entrepreneurship spectrum. Notable speakers this year included Maria Contreras-Sweet (Administrator of the United States Small Business Administration), Oscar Farinetti (Co-founder of Eataly), Felipe Hoffa (Developer Advocate at Google), and Andrea Illy (CEO of illyCaffe).

From the Endeavor network, select staff members also had the opportunity to speak during the Congress, demonstrating the organization’s growing role in the global entrepreneurship landscape. Endeavor has been an active supporter of the GEC since it launched in 2009, co-hosting the 2013 GEC in Rio de Janeiro which also featured staff, mentors and entrepreneurs. To learn more about this year’s conference, including summaries of the events and video highlights, click here.

See below for photo highlights of the Congress.

Endeavor Entrepreneurs and Mentors Participate in the 2015 SXSW Interactive Festival

sxswlogoEndeavor Entrepreneurs and top members of the network attended the annual SXSW Festival, a premiere event focused on innovation, cutting-edge technology and design. In its 22nd year, the festival has become a leading incubator of entrepreneurship and creativity, featuring panels, presentations and showcases from global brands and startups. The festival has become a regular event for members of the Endeavor network to gather and meet.

Endeavor organized gatherings at a variety of events throughout the week, with a focus on themes ranging from startup acceleration to biotechnology to international investments. In addition, a number of social events allowed the entrepreneurs to network in informal settings while meeting other attendees of the festival. Endeavor Catalyst Managing Director Allen Taylor participated in his own session themed around trends in Brazil’s investment landscape. Other notable mentor highlights included sessions with:

Steve Case, co-founder of AOL and Chairman of the Case Foundation and Revolution, who shared his thoughts on the importance of partnerships and other keys to business growth and success. He also addressed his experiences building AOL and the industry he helped craft in the early days of the Internet, highlighting the sectors where web-enabled products and services can have a substantial impact.

Jean Case, the current CEO of the Case Foundation, discussed philanthropy and debated the impact of charitable investing with the entrepreneurs. She also addressed the power of entrepreneurship and its unique importance to economic stability in regions of conflict and revolution.

Adam Dell, venture capitalist and brother of Michael Dell, talked with the entrepreneurs about his thematic approach to investment, providing insight on future trends in the VC world.

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Steve Case with entrepreneurs and staff members

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Endeavor VP Allen Taylor in a panel discussion

Endeavor Awarded the 2015 Henry R. Kravis Prize in Nonprofit Leadership

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In recognition of Endeavor’s work providing support and mentorship to over a thousand high-impact entrepreneurs in more than 20 markets around the world, the organization has been named the recipient of the 10th Annual Henry R. Kravis Prize in Nonprofit Leadership. The Kravis Prize is among the world’s most prestigious awards for nonprofit leadership, akin to a Nobel geared specifically to this sector.

Endeavor will receive the Kravis Prize and $250,000 award on April 23, 2015 at Claremont McKenna College as part of a special celebration of the Prize’s 10th Anniversary and of the 20th Anniversary of the College’s Kravis Leadership Institute. The ceremony celebrates the accomplishments of best-in-class nonprofits and enables winners to share their best practices with others.

“Endeavor exemplifies the Prize’s philosophy about entrepreneurship, social good, and venture philanthropy. Endeavor’s leadership has had a profound impact on everyday people,” said Marie-Josée Kravis, an economist who is chair of the Kravis Prize Selection Committee. “We are grateful for its remarkable work to change lives all over the world, creating invaluable jobs and resources.”

“Endeavor is a perfect example of a nonprofit that has significant influence on the ground and great success creating a sustainable ecosystem for future impact,” said Henry R. Kravis, an alumnus and trustee of the College who is co-founder of Kohlberg Kravis Roberts & Co. L.P., and founder of the Kravis Prize. “We applaud Endeavor’s impressive accomplishments developing high-impact companies and entrepreneurs, and work to transform the economic landscapes of underdeveloped countries.”

Established in 2006, The Henry R. Kravis Prize in Nonprofit Leadership conducts a rigorous due diligence and selection process to choose an annual recipient. The Prize impacts the nonprofit sector overall by lauding strong performances and sharing recipients’ best practices with others. The Prize is administered by Claremont McKenna College.

Founded in 1997 by Linda Rottenberg and Peter Kellner, Endeavor has helped over 1,000 entrepreneurs build more than 600 companies in 22 countries. Endeavor Entrepreneurs have collectively created more than 400,000 jobs, generating close to $7 billionin revenue.

The organization’s mission is to lead the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. Endeavor helps them overcome barriers to growth by providing the key ingredients to success: mentorship; networks; strategic advice; talent; skills; access to smart capital; and inspiration from the world’s top financial institutions and consulting firms. Guided by Endeavor, these entrepreneurs generate sustainable economic growth and jobs, become self-made role models, and help nurture a culture of entrepreneurship which spurs investment and encourages people to think big. The entrepreneurs in return are required to help other local companies grow by reinvesting in their community, becoming mentors and donating their time and resources.

“We’re honored and grateful to receive the Kravis Prize,” said Endeavor co-founder and CEO Linda Rottenberg. “This is a testament to the amazing work of our board members, staff and mentors in 22 countries who have helped thousands of entrepreneurs to think big, achieve their dreams, and pay it forward in their communities.”

The Endeavor model of creating an entrepreneurial ecosystem that generates jobs and encourages social change is embedded in Claremont McKenna College’s DNA, and embodied by the Kravis Leadership Institute (KLI). Students in the academic center learn about leadership development through the lens of social entrepreneurship and are provided with unique opportunities to develop as outstanding real world leaders in the public, private, and social sectors.

“As the host of the Kravis Prize, as the hub of emerging Kravis Prize network of leaders in global social innovation, and as an Ashoka U Changemaker Campus, we are thrilled to welcome Endeavor to the Claremont McKenna College family,” said CMC President Hiram Chodosh.

“We are extremely grateful to Henry and Marie-Josée for the opportunity to support the Kravis Prize winners in this vitally important global social innovation movement, and Endeavor is an inspiring exemplar for our leading CMC social innovators.”

Read the press release of the announcement by clicking here. Learn more about the Kravis Prize and the Kravis Leadership Institute at Claremont McKenna College by clicking here.

Endeavor Named Most Impactful Company in Latin America by LATAM Founders Network

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The LATAM Founders Network (LFN), a network for CEOs, partners and founders focused on the investment and technology space in Latin America, recently named Endeavor as the “Most Impactful” organization in the region. With a membership of more than 550 vetted leaders, the LFN Awards recipients were nominated and chosen by top entrepreneurs and founders working in and around Latin America.

LFN’s Second Annual Awards Gala was held in Sao Paulo, Brazil and brought together more than 200 leaders of the investment and technology sector to acknowledge and honor the companies that are true game changers in the region. The Gala provided the ultimate opportunity for effective networking with top CEO’s, founders, investors and media both in the region and abroad.

Endeavor Entrepreneur Martin Umaran, co-founder of Argentina’s Globant, presented the opening address and shared the inspiration behind the company’s mission and culture of 3,000+ employees worldwide. Last year, Globant became one  of the first Latin American technology companies to be listed on the New York Stock Exchange. Endeavor was subsequently recognized as the organization that has made the most impact in the region, with country offices in seven Latin American countries leading the movement for high-impact entrepreneurship. Having selected and supported over 500 entrepreneurs from the region who have gone on to build innovative companies and mentor future founders, Endeavor has transformed the idea of entrepreneurship in many of these markets.

Previous winners of the LFN Awards have seen continued success,  with many of the entrepreneurs raising significant additional rounds of funding and expanding their businesses into other key regions and countries. In addition to Endeavor’s recognition, Endeavor Entrepreneur company Kaszek Ventures (founded by Hernán Kazah and Nicolas Szekasy) was selected as the “Best Investor” in the region. The Brazil-based Printi, a promotional printing company founded by Endeavor Entrepreneur Florian Hagenbuch, won in the “Best B2B Business” category, with Florian also winning “Entrepreneur of the Year”.

Read more about the awards and nominees this year by clicking here.

PreMoney Miami Conference Focused on Venture Capital Features Members of Endeavor Network

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The PreMoney Miami Conference, produced by 500 Startups, highlighted various aspects of the venture capital space in a full day of keynotes, panels and in-depth discussions. More than 200 accredited and active investors and LPs participated in the event, which also featured talks from Endeavor VP Allen Taylor, Endeavor Miami Managing Director Laura Maydon, network members Dave McClure (500 Startups) and Andres Moreno (OpenEnglish), and many more.

The event highlighted new platforms, models and strategies for early stage funding, covering the most disruptive strategies, models, and technologies for the future of venture capital. Featuring the world’s most forward-thinking investors, PreMoney aimed to provide attendees with insights and tactics for building successful, scalable venture portfolios that are as innovative as the companies they finance.

Highlights included Endeavor VP and Endeavor Catalyst Managing Director Allen Taylor’s keynote exploring methods for building successful ecosystems in the emerging markets that need it most. Watch his full session below.

To learn more about the conference, click here.

 

TechCrunch Examines the Power of Mentorship with Research from Endeavor Insight

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Endeavor Insight Director Rhett Morris recently authored an article for TechCrunch focused on research conducted on New York City’s tech ecosystem. An key conclusion drawn from the research highlighted the crucial importance of mentorship and guidance on the city’s entrepreneurial scene. With New York City’s tech sector positioned as one of the largest in the world, the findings provide insight on how similar models of mentorship can be fostered in other cities and regions.

The article discusses the importance  off recruiting a network of mentors that can provide advice and guidance during the critical stages of an entrepreneur’s growth. As important as financial capital in many respects, having a strong network can increase a company’s odds of success more than almost anything else. Endeavor Insight surveyed thousands of tech businesses in the city – creating the world’s largest database of a single entrepreneurship community – and found that entrepreneurs leading some of the area’s top startups had strong personal connections to the founders of other successful companies. One of the most powerful connections identified in the analysis was that of mentoring relationships. As the chart below illustrates, 33 percent of founders who are mentored by successful entrepreneurs went on to become top performers – over three times better than the performance of other NYC-based tech companies.

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To date, Endeavor has supported more than 1,000 entrepreneurs at fast-growing companies in over 20 countries. In addition to Endeavor’s work connecting these founders to investors and training programs, the organizations has cultivated thousands of mentoring relationships between founders and experienced entrepreneurs and executives. These mentors have helped companies in the Endeavor network reach average growth rates of over 60 percent per year. A number of these firms have gone public or sold for figures well above $100 million.

Read all the key takeaways in TechCrunch by clicking here.

Mentors Are The Secret Weapons Of Successful Startups

Endeavor Insight Spotlights Scaleup Ecosystems in Bangladesh and Uganda

endeavor_insightAs part of a series of reports focused on scaleup ecosystems worldwide, Endeavor Insight has analyzed the impact of scaleup companies on the economies of two emerging markets: Bangladesh and Uganda. Entitled “The Critical 5 Percent” (Bangladesh) and “The Critical 6 Percent” (Uganda), the reports highlight job creation and economic growth driven by high-impact entrepreneurs in each country. Earlier reports in the series studied the economies in Colombia, Indonesia, Jordan, Mexico and Peru.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are a critical component of economic and social development in many global economies, including Bangladesh and Uganda. The report found that these businesses represent just 5% and 6% of these countries’ total number of firms, but created 70% and 50% of net new jobs in each country, respectively. For economies like these in particular, where the labor forces are projected to grow in the millions by 2020, the demand for new jobs has never been higher. Both nations will need to create millions of new jobs in order to keep up with population growth within the next decade.

With the demand for employment opportunities continuing to climb, scaleup companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. As the largest job creators in these countries, scaleups need access to the types of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the region.

To read the full reports and learn more about the research, click below.

TechCrunch Examines the Power of Mentorship with Research from Endeavor Insight

Tech Crunch logo

Endeavor Insight Director Rhett Morris recently authored an article for TechCrunch focused on research conducted on New York City’s tech ecosystem. A key conclusion drawn from the research focuses on the importance of mentorship and guidance to the city’s entrepreneurial scene. With New York City’s tech sector positioned as one of the largest in the world, the findings provide a look at how similar models of mentorship can be fostered in other cities and regions.

The article discusses the importance  off recruiting a network of mentors that can provide advice and guidance during the critical stages of an entrepreneur’s growth. As important as financial capital in many respects, having a strong network can increase a company’s odds of success more than almost anything else. Endeavor Insight surveyed thousands of tech businesses in the city – creating the world’s largest database of a single entrepreneurship community – and found that entrepreneurs leading some of the area’s top startups had strong personal connections to the founders of other successful companies. One of the most powerful connections identified in the analysis was that of mentoring relationships. As the chart below illustrates, 33 percent of founders who are mentored by successful entrepreneurs went on to become top performers – over three times better than the performance of other NYC-based tech companies.

nyc-charts-01
To date, Endeavor has supported more than 1,000 entrepreneurs at fast-growing companies in over 20 countries. In addition to Endeavor’s work connecting these founders to investors and training programs, the organizations has cultivated thousands of mentoring relationships between founders and experienced entrepreneurs and executives. These mentors have helped companies in the Endeavor network reach average growth rates of over 60 percent per year. A number of these firms have gone public or sold for figures well above $100 million.

Read all the key takeaways in TechCrunch by clicking here.

Mentors Are The Secret Weapons Of Successful Startups

Mexico's Yogome Announces R&D Partnership with Yale University to Explore Educational Gaming

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yogomeYogome, the leading developer of highly engaging, educational mobile games for children in elementary school, has announced a two-year, research and development partnership with the play2PREVENT (p2P) Lab at Yale University, a video game and mobile game research initiative. Yale’s p2P Lab builds collaborations with researchers, educators, and game developers to create and rigorously test innovative, effective, and targeted game interventions focused on behavior change and education for youth.

Researchers in the p2P Lab will work with Yogome, co-founded by Endeavor Entrepreneur Manolo Diaz, to assess and further develop math and other subject games, including science, programming, and sustainability. The partnership also entails a randomized controlled trial with children aged 5-11, parent focus groups, and data analysis intended to optimize and measure the educational efficacy of the mobile games.

“We are very excited to be partnering with Yogome,” said Dr. Lynn Fiellin, founder and director of the p2P Lab and associate professor of medicine at Yale School of Medicine. “Not only do we want to measure their learning impact, we also want to explore if children’s attitudes towards learning are positively affected when combined with appropriate engaging content.”

“Partnering with one of the world’s leading researchuniversities, and especially with Dr. Fiellin and her team, is an amazing opportunity for us,” said Manolo Diaz, Yogome’s co-founder and CEO. “Whereas many game developers claim to be educational, we will have the scientific resources to validate the impact of playing our games, which we believe is what parents want to see.”

Yogome’s mobile games, which have been downloaded over 10 million times in 150 countries, are played by over half a million children every day. The games are based on the Common Core framework and adhere strictly to child privacy standards.

Since joining Endeavor in 2013, Manolo has been an active member  of the network, receiving key introductions to investors through the Endeavor Investor Network and tailored mentorship services from local and global business leaders.

For more details about the play2PREVENT Lab and Yogome, visit play2PREVENT.org and Yogome.com. Read additional coverage of the announcement in The New York Times’ Bits Blog.

Endeavor Egypt Partners with the 2015 Egypt Economic Development Conference; Spotlights High-Impact Entrepreneurship

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During the Egypt Economic Development Conference (EEDC), top influencers in Egypt’s entrepreneurship scene demonstrated their commitment to supporting the local ecosystem and the growth of SMEs. This year, Endeavor Egypt served as a Knowledge Partner in the conference, hosting a session focused on high-impact entrepreneurship and featuring the stories of Endeavor Entrepreneurs.

The session, titled “High-Growth Entrepreneurship: Egyptian Women and Men Building Enterprises”, brought together some of Egypt’s leading entrepreneurs and various stakeholders in the country’s growing entrepreneurship ecosystem, with the goal of informing the audience and identifying opportunities for growth. The conference as a whole aimed to showcase Egypt as an attractive market for institutional investment and economic development initiatives.

Opening remarks were given by Naguib Sawiris, one of Egypt’s leading entrepreneurs and founder of Orascom Telecom Holding, who commented on the burgeoning talent pool and investment potential that’s ushering the country into a new area of growth. The conference’s main objectives were divided into three segments: Inform, Inspire and Activate. The high-growth entrepreneurship session represented the government entities and organizations that support and fund entrepreneurs at different stages, including: Hossam Allam; Founder of Cairo Angels, Hany Al Sonbaty; Partner at Sawari Ventures, Mohamed Osman; CEO Sofico, Ayman Ismail; CEO DMG & Chairman of Endeavor Egypt and Hussein El Gueretly; CEO Information Technology Industy Development Agency. Endeavor Entrepreneurs that were highlighted include Mohamed Azab, CEO of Hassab Labs, and Sherief Kasseba, CEO of Nile Valley Growers.

The session concluded with the launch of the Cairo Tech Map, developed with Endeavor Insight, further validating the presence of a collaborative ecosystem in Egypt. This was followed by an announcement from The World Bank in cooperation with the Social Fund for Development introducing a $120 million Venture Capital Program to overcome the key challenges faced by under-served Egyptian start-ups. This will by accomplished by providing sustainable access to capital and realizing long-term capital appreciation by providing debt and equity investments in venture capital companies, incubators and directly to startups. The fund offers up to $10 million of co-financing capital to each individual investment, provided by the World Bank to the SFD to develop and catalyze a nationwide entrepreneurial ecosystem in Egypt.

“Endeavor believes that one of the main drivers of true economic growth and prosperity lies in the hands of ambitious and driven entrepreneurs, and we believe that it was absolutely right that the EEDC provided a platform to highlight the success and opportunities of the growing entrepreneurship ecosystem in Egypt,” said Heba Gamal, Managing Director of Endeavor Egypt. “Given the right amount of support and freedom, entrepreneurs can build thriving companies which can have a measurable impact on the local economy. We now have an ecosystem that has boomed over the past five years and we are ready to extend an open invitation to investors, multinationals and individuals to come to Cairo – the entrepreneurship hub of the Middle East.”

Read more about the event by clicking here.

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The EEDC team

Greece's Tripsta Announces Merger with Airtickets to Form Country's Largest E-Commerce Company

tripstaThe Athens-based Tripsta, founded by Endeavor Entrepreneur Philipp Brinkmann, has announced a merger with competing online travel agency airtickets ®. The news marks a milestone for Europe’s OTA industry as the newly united company becomes the largest OTA in South Eastern Europe and is among Europe’s top five. The status of the new company is also significant for Greece, as it becomes the largest e-commerce company in the country.

Driven by an increasingly fragmented European OTA market, the merger looks to consolidate the technology and customer base of these two major businesses, presenting an even more sophisticated and wide-reaching transportation offer. With both companies in recording over 4 million total web visits, bookings exceeding 168K and 206K tickets sold, it is forecast that the new joint company will command sales in excess of 500 million Euros. The merger will also enable both Tripsta and airtickets to extend their current customer portfolios in a number of new European markets. As part of the merger, both Tripsta and airtickets will continue to operate under their existing company brands with new CEO Philipp Brinkman and airtickets  Board President Dimitris Kontogeorgos, providing a solid value proposition and a management team to ensure continued growth. The combined companies will have offices in Greece, Russia, Romania, Poland, Turkey and Brazil.

“We are both hugely excited about this new chapter for our businesses, and the opportunity to perform on a larger global stage. At Tripsta our strategy continues to be offering customers the most innovative and convenient travel solutions and the merger will strengthen our ability to do this,” said Philipp Brinkmann, CEO of Tripsta. “The European OTA market is very fragmented and, as such, consolidation is a key driver for our future success. Therefore, we will see more of these activities in the market in the future.”

Dimitris Kontogeorgos, President of airtickets, added: “The commercial synergies between both our businesses made a clear argument for a merger. We will be far stronger together and it will mean we can make wider and deeper investments in important technologies for customers.”

Selected into the Endeavor network in 2015, Tripsta is an innovative online travel agency currently operating in more than 40 countries. Launched in 2005 as Travelplanet24, the Greek branch of Tripsta, Endeavor Entrepreneur Philipp Brinkman and co-founder Kristof Keim decided to develop an online booking system and web applications to serve the niche Greek online travel market. In the beginning of 2010, Travelplanet24 strategically decided to enter new European markets under the brand name Tripsta.

Read more about the news by clicking here.

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Dimitris and Philipp celebrating the merger

UAE's The Qode, A Luxury Brand Management Agency, Highlighted in Entrepreneur Middle East Magazine

The-Qode-to-Represent-1915-by-SeddiqiEndeavor Entrepreneurs Dipesh Depala and Ayman Fakoussa, co-founders of The Qode, were featured in Entrepreneur Middle East magazine as part of a profile on luxury marketing and leadership in the region. The entrepreneurs’ company is a brand management and public relations firm which utilizes a keen understanding of the MENA market to help both local and international brands engage the region’s luxury consumers.

Selected at the 57th International Selection Panel in Singapore, The Qode works to delve deep into the brand ethos of their clients to help them maximize market potential and achieve goals. Since its beginnings in 2010, the company has provided end-to-end services to the brands in its portfolio, including tailored event planning, diverse publishing channels, and exclusive VIP guest-lists. With the MENA region’s US$6.7B luxury retail market projected to grow annually between 10% and 15%, The Qode has already secured work with noteworthy brands including Sephora, Louis Vuitton, Christian Dior, and Chanel. The company is also looking to expand its footprint geographically to the UK, US, and Asia to become a leading agency worldwide.

In the magazine, the co-founders lay out their views on engaging influencers and consumers in the luxury market in order to maximize brand awareness. Read the full article in Entrepreneur Middle East by clicking below.

Entrepreneurship Ecosystem Insights Newsletter – February 2015

The February 2015 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Mexico's Fairtrasa Celebrates 10th Anniversary; Featured in Huffington Post

huffpost_3lineMexico’s Fairtrasa, founded by Endeavor Entrepreneur Patrick Struebi, celebrated its founding this year with a feature in The Huffington Post recounting insights from Patrick’s experiences as a social entrepreneur. In the piece, he highlights his beginnings in 2005, when he shipped the world’s first fair-trade avocados to Europe from small-scale farmers in Mexico, igniting the idea that would form the global produce company he runs today.

At a time, when social entrepreneurship was not as wide known in Mexico,  Patrick discusses how he leveraged his business skills to help small-scale farmers transform their lives. Nowadays, as Fairtrasa has scaled around the globe and impacted thousands of farmers in many countries, social entrepreneurship is synonymous with innovation, change and goodwill. Patrick points to ten key lessons from his entrepreneurial journey, touching on everything from the importance of mentorship to the significance of giving back and supporting local communities.

Patrick left the corporate sector after almost a decade in order to start Fairtrasa, a fair trade and organic produce company based in Michoacan, Mexico. Fairtrasa works with hundreds of small farmers in Mexico and other emerging economies in Latin America to produce and distribute high-quality organic and fair trade fruits, wine, and spices in international markets at reasonable prices. The social enterprise aims to help small farmers out of poverty while opening the global market to local goods, equipping its network with financial capital, training programs and technical support. Since his selection at the 39th ISP in 2011, Patrick has received custom advisory from Endeavor’s mentor network while also regularly participating in leadership and fundraising events.

Read Patrick’s full piece in The Huffington Post by clicking here.

March 2015 Newsletter

Mar2015To view Endeavor’s March newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Insight Releases "The Criticial 9 Percent" Report on Jordan’s Growing Scaleup Ecosystem

endeavor_insightEndeavor Insight‘s “The Critical 9 Percent” reportreleased with support from Omidyar Network, highlights the contributions of scaleup companies towards job creation and economic growth in the country of Jordan. This is part of a series of reports from Endeavor Insight that focus on scaleup ecosystems worldwide and their significance in transforming emerging market economies. Earlier reports in the series studied the economies in ColombiaIndonesiaMexico and  Peru.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are becoming a critical component of economic and social development in Jordan. Utilizing World Bank data, the report found that these businesses represent just 9% of the country’s total number of firms but created 53% of net new jobs in the past three years. For a nation like Jordan in particular, where the workforce is projected to grow by more than 330,000 people by 2020, the demand for new jobs has never been higher. A reported 200,000 people in Jordan are currently unemployed, a rate that is especially high among 15 to 24 year olds.

With the demand for new jobs continuing to climb, scaleup companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains and paving the way for long-term expansion. As the largest job creators in the country, scaleups need access to the sort of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the Middle East.

Endeavor launched its Endeavor Jordan affiliate in 2009. To read the full report and learn more about the research, click here.

Three Keynote Speakers Announced for the 2015 Endeavor Entrepreneur Retreat

2015 RetreatThe invite-only 2015 Endeavor Entrepreneur Retreat will take place May 6-8 in Westchester, NY. Three top-tier keynote speakers have been confirmed for the event:

Kenneth I. Chenault is Chairman and CEO of the American Express Company. He joined in 1981 as Director of Strategic Planning and served subsequently in a number of senior positions until his appointment as CEO in 2001.

Seth Godin is the author of 18 bestselling books, the creator of one of the most popular blogs in the world, and a frequent entrepreneur.

Daniel Lubetzky is a pioneering social entrepreneur and CEO and Founder of KIND Healthy Snacks and the KIND Movement. He is also founder of PeaceWorks Inc. and co-founder of Maiyet. His book, “Do the KIND Thing: Think Boundlessly, Work Purposefully, Live Passionately,” is available now for pre-sale and will be released March 31, 2015.

Participants of the Retreat will be able to hear from leading corporate figures, entrepreneurial stars of the NY tech scene, and business thought leaders from top US universities and the media. The Retreat will include industry-specific breakouts led by Endeavor Entrepreneurs and challenge/trend-focused workshops from some of Endeavor’s best Global mentors. There will also be a significant amount of networking time with  entrepreneurs and other members of Endeavor’s global community.

In addition to the Retreat, an Investor Network event will take place in NYC on Tuesday, May 5. Endeavor will also host a series of first-come, first-serve company tours on the morning of the 6th prior to the Summit to Google, IBM and other corporates in the New York Metro area.

Early bird registration rates have been extended through March 20, 2015. Register now by CLICKING HERE.

(Please note that this year’s registration price includes 2 nights accommodation in a double room at the Doral Arrowwood conference center and all meals during the conference.)

CNBC Features Endeavor Greece Research on Job Creation; Highlights the Need for Entrepreneurship

cnbcCNBC recently featured Endeavor Greece‘s Creating Jobs for Youth in Greece report, bringing focus to the need for  high-quality employment opportunities in the struggling economy.  The piece highlights the sharp decline in young college graduates in the country as many move abroad in search of better job climates. With a nearly 50% youth unemployment rate, Greece’s economy is primed for a rise in high-impact entrepreneurship that can spur job creation and usher in a new period of growth. Endeavor Entrepreneur Alexis Pantazis, co-founder of Hellas Direct, was also interviewed for the article.

The report focuses on the stagnation of value-adding sectors, the necessity of startups for initiating growth, and the promise shown by a generation of Greek youth who are more globally-minded and connected than ever before. The findings reveal that a change in the perception of entrepreneurship needs to happen, particularly among younger populations, which will only be possible if healthy role models and supportive institutions exist. Endeavor Greece Managing Director Haris Makryniotis was also featured in the article, discussing the uncertainty that has plagued the country in recent years and the role that entrepreneurship can play in improving the economic outlook.

Read the full CNBC article by clicking here and learn more about the report in the video below.

Argentina's Fën Hoteles Plans U.S. Expansion with Properties in NYC, LA and Miami

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Argentina’s  Fën Hoteles, founded by Endeavor Entrepreneurs Patricio Fuks and Alejandro Frenkel, recently announced that it is planning an expansion across the U.S.  In an agreement with  investment firm Rosental Group, the hotel management company will have 12 new properties under its management across New York City, Los Angeles and Miami.

To support this expansion, Fën will establish a new company headquarters in New York City. The company operates on a franchise model and currently oversees the Dazzler and Esplendor brands with 35 hotels in 17 cities. The series of U.S. openings is expected to begin in April with the 170-room Dazzler Brooklyn, which will be followed by additional openings in New York and Miami in the first stage. All together, 3,000 rooms are expected to be in operation in 2015.

“It’s exciting. This landing in the United States is a sign of continued expansion that began twelve years ago, from Argentina to the rest of the world,” said Patricio Fuks, CEO of Fën.

Since its founding in 2003, Fën has become one of the largest and fastest-growing hotel management and franchise businesses in Latin America. The founders were selected into the Endeavor network in 2007, and have since received custom mentoring from teams of business experts. The team has also been connected to other leaders in the hospitality industry through Endeavor, and has received support from initiatives like the eMBA Program.

 Read more in Argentine news by clicking here.


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The team of Fën Hoteles

Endeavor Indonesia Celebrates the Power of High-Impact Entrepreneurship with Scale-Up 2.0 Conference

Indonesia logoEndeavor Indonesia hosted a Scale-Up 2.0 Conference on Tuesday, February 3rd that brought together entrepreneurs and industry experts for a day-long event to address challenges to the region’s entrepreneurship ecosystem. In conjunction with an annual gala celebration and the Endeavor Investor Network trek, the events brought together nearly 500 network members, including 10 Endeavor Entrepreneurs, 18 mentors and more than 30 investors.

The Scale-Up 2.0 Conference was designed for growth-stage entrepreneurs to gather insight on the tools that could help them tackle some of the major challenges to scaling up. Participants had the opportunity to mingle with leading investors from Indonesia, Southeast Asia and Silicon Valley, who were keen to learn and collaborate with local entrepreneurs. Under the scale-up theme, the event included international and local speakers discussing comprehensive topics focused on everything from talent retention to employee culture to investment basics. Notable speakers and presenters included Chris Zook (Bain & Company); Raoul Oberman (McKinsey & Company); Peng T. Ong (Monk’s Hill Ventures); Khailee Ng (500 Startups); and Prashant Gokarn (PT Indosat Tbk).

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A panel discussion during the Scale Up Indonesia event

“This year marks the third anniversary of Endeavor in Indonesia. We are proud to be the first Endeavor office to open in Asia and be a pioneer in the space of high-impact entrepreneurship,” said Husodo Angkosubroto, Endeavor Indonesia Board Chairman. “In Indonesia, there are only a handful of entrepreneurs who have scaled up to propel exceptional growth in their companies and become role models. We need more local role models to look up to. Through mentoring and a supportive ecosystem, Endeavor allows for such scale-ups to happen.”

“It has been exciting to see how our young network has grown over the last few years. Endeavor Indonesia now supports 17 entrepreneurs from 15 companies in areas including F&B, retail, finance, technology, and more,” said Sati Rasuanto, Managing Director of Endeavor Indonesia. “By holding Scale-Up Indonesia, we hope to expand the companies we support and also create more awareness of Indonesian entrepreneurs.”

In addition to the Scale-Up 2.0 Conference, Endeavor held its second annual Endeavor Gala Dinner on February 3rd. The gala gathered over 280 entrepreneurs, business leaders, and other key influencers in the Indonesian entrepreneurship ecosystem. The conference was made possible through the support of BCA, Indonesia’s largest private bank.

Learn more on Endeavor Indonesia’s blog by clicking here.

Endeavor Investor Network Hosts Inaugural Investor Trek in Southeast Asia

Investor network LogoThe Endeavor Investor Network hosted its inaugural Southeast Asia Investor Trek in Jakarta and Singapore earlier this month (February 2nd-4th). The aim of the trek was to introduce global investors to the venture and entrepreneurship ecosystem of the region. The group spent three days in Jakarta and Singapore meeting with policy makers, business leaders, investors, and Endeavor companies.

The high-profile delegation was comprised of managing directors from leading global venture funds, including Amadeus Capital, DMGT International, Frontier Investments Group, GSV Asset Management, Intel Capital, Omidyar Network, Richmond Global, Rise Capital, Unitus Impact, and Wavemaker Partners, among others. Each of the event’s sessions were tailored to highlight policies favorable to investments, understand the complexities of the region, and (with its complexities in mind) establish the right relationships to navigate investment in regional companies.

In Jakarta, the delegates spent an entire day meeting some of Endeavor Indonesia’s best portfolio companies including The Goods Department, a multi-label retail store and restaurant line; Kartuku, the first company in Indonesia to successfully integrate the country’s major banks and several large retailers into a fully supported payment network; and Ruma the largest mobile payment agenda network in Indonesia.

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A site visit to entrepreneur company Kartuku

On the final day of the trek, the group traveled to Singapore for an afternoon of conversations with Southeast Asia’s venture ecosystem, including Singapore-based investors Vinnie Lauria (Golden Gate Ventures), Yinglan Tan (Sequoia Capital), Peng T. Ong (Monk’s Hill Ventures), and Garyn Ang (Temasek). Active regional offices and Endeavor Board members, including Mark Chang (Endeavor Malaysia) of Jobstreet and Gabby Lopez III (Endeavor Philippines) of ABS-CBN, also participated.

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The investor roundtable in Singapore

The event was a tremendous success and left participants interested in deepening relationships with Endeavor Entrepreneurs and Endeavor affiliate offices operating in the region.

View the event booklet here for a full agenda and list of participants. To learn more about upcoming Investor Network events, click here.

Argentina’s Jampp, A Mobile App Marketing Platform, Raises Funding with Participation from Endeavor Catalyst

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Jampp, a platform that helps mobile app advertisers acquire and engage users, has raised $7 million in a Series A round led by Highland Europe. The round of funding also included participation from Innova, NXTP Labs and Endeavor Catalyst. Founded in 2013 by entrepreneurs Martin Añazco and Diego MellerJampp enables brands to optimize in-app activity and conversions.

Jampp’s financing announcement comes during a period of rapid growth for the company. Started in Buenos Aires and London, Jampp bootstrapped its way to become one of the leading app marketing platforms and a strategic partner to more than 50 large global mobile advertisers. In 2014 alone, the company multiplied its revenues, grew the team from 8 to 40 people and opened offices in San Francisco, São Paulo and Cape Town.

“Jampp provides a unique combination of scale and ROI, as our platform learns which signals produce high converting users for each app, dynamically bids on inventory, and automatically allocates budget.” said Diego. “This means we don’t just deliver app installs to our clients, but actual in-app purchases, food delivery orders, taxi bookings, new listings or whatever our advertisers are looking to optimize. App Marketing is no longer about getting installs (over 80% of users stop using the app after 6 months) but about driving engagement and conversions.”

Jampp is able to achieve this by buying mobile media inventory via its Conversion Driven Real Time Bidding engine, which dynamically bids on inventory across 18 RTB exchanges and over 150 mobile ad networks. The company also offers advertisers the capability to do re-targeting, bringing users back to the apps and driving continuous engagement. This way, Jampp completes the full cycle of app marketing, by first bringing users to the app and then re-engaging them. The company, which has been profitable since 2013, will use the investment funds to expand operations in key markets and continue to invest in R&D. After their selection by Endeavor in 2014, Jampp’s team  has received tailored mentoring and strategic advisory services through Endeavor’s global network of business leaders.

“This news demonstrates the high-impact potential of entrepreneurs in emerging markets who continue to attract global interest and inspire future generations of founders and leaders,” said Endeavor co-founder and CEO Linda Rottenberg.

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities.

Learn more about Endeavor Catalyst by clicking here.

Greece’s Hellas Direct Raises New Round of Financing with Participation from Endeavor Catalyst

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The Greece-based Hellas Direct, a direct-to-consumer online insurance company, has announced the completion of an institutional investment round led by Third Point LLC’s affiliate, the Third Point Hellenic Recovery Fund (TPHR). TPHR joins a roster of  top investors including private equity veteran Jon Moulton and former Goldman Sachs economist Jim O’Neill. Endeavor Catalyst – Endeavor’s innovative co-investment vehicle – has also participated in the round, marking its first investment in Europe.

Hellas Direct was founded by Endeavor Entrepreneurs Emilios Markou and Alexis Pantazis, two former Goldman Sachs executives who saw an opportunity to disrupt an inefficient Greek insurance market as the country was entering recession. Hellas Direct is a long-term strategic partner of Munich Re and follows a tech-empowered, direct-to-consumer business approach similar to that adopted by insurance brands like Geico and Direct Line. This enables the company to offer better quality service at cheaper prices. Hellas Direct has experienced exponential growth during its first two years of operation, even as Greece saw a 25% reduction in GDP and a 40% drop in insurance premia. In the US$2.6 billion Greek car insurance market, Hellas Direct offers safe drivers policies at a 15-35% discount to comparable coverage options by cutting out commissions and adopting the latest web technology.

“We are delighted to have secured Third Point as a strategic investor in Hellas Direct,” said Emilios Markou. “Their global expertise in financial services and hands-on exposure in regional banking makes them an ideal partner in what we expect to be a fast consolidating insurance sector.”

“We are excited to be teaming up with two world-class institutional investors in our efforts to bring transparency and innovation to the insurance industry,” added Alexis Pantazis. “We see this as a unique opportunity to fortify our company’s balance sheet ahead of Solvency II, accelerate our organic growth, and selectively look at acquisitions across both Greece and Cyprus.”

Since joining the network in 2012, Endeavor has connected the founding pair with an advisory board of mentors and industry experts who have helped them refine their business strategy. In addition, Endeavor has introduced them to top investors and venture capitalists, enabling the team grow the company and ultimately give back to Endeavor Greece.

“We’re thrilled to welcome Hellas Direct as the first Greek investment in our Catalyst portfolio,” said Endeavor co-founder and CEO Linda Rottenberg. “These entrepreneurs are a testament to Endeavor’s willingness to support and build high-impact entrepreneurship in Greece during trying times.”

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities.

Learn more about Endeavor Catalyst by clicking here.

Endeavor Catalyst Managing Director Allen Taylor to Speak at 2015 Global Innovation Summit

GIS+W_Logo_REV (3)The Global Innovation Summit (www.innosummit.com) on February 17-19, 2015 is a conference in Silicon Valley on how to foster the growth of innovation ecosystems to drive entrepreneurship, technology, and economic impact. The event seeks to catalyze systemic, sustainable innovation across organizations, communities, and countries. Last year’s Summit brought together over 450 innovators from 50 countries, representing governments, corporations, venture capital, NGOs, startups, and academia.  The Global Innovation Summit is the centerpiece of Global Innovation Week, which features multiple events and activities throughout the region. The weeklong affair was organized by T2 Venture Creation, a Silicon Valley venture firm and ecosystem design studio.

Endeavor VP of Global Network and Endeavor Catalyst Managing Director Allen Taylor will be moderating a panel on investments in emerging ecosystems. Read a description of the panel below.

Catching Waves: Investing in Emerging Ecosystems

How can startup investing succeed in emerging ecosystems? Venture capital is already difficult in established places like Silicon Valley, but it becomes even more difficult when the ecosystem is still maturing.  Here, we’ll explore how early-stage investments are made around the world. Whether it’s microlending in Africa, venture capital in Asia and Latin America, or angel investors in urban America, investors must understand the dynamics of their ecosystems in order to succeed.  What are the common patterns to the common challenges? We’ll hear from some of the most innovative early-stage investment organizations in the world, learn what they look for, see what they see, and get a peek into ecosystems that are on the rise.

– Moderator: Allen Taylor (VP, Global Network, Endeavor Global)

– Paul Breloff (Managing Director, Accion Venture Lab)

– Jessica Loman (Director of Operations and Impact, Toniic)

– Walid Bakr (Director, The Abraaj Group)

Learn more about the Summit, including registration information, by clicking here.

February 2015 Newsletter

SingaporeNewsTo view Endeavor’s February newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Save the Date and Register for 2015 Endeavor Entrepreneur Retreat, May 6–8, 2015

2015 Retreat

Register today for the 2015 Endeavor Entrepreneur Retreat! From Wednesday, May 6 – Friday, May 8, 2015, the Endeavor network will convene in Westchester County, New York – home to Fortune 500 companies including PepsiCo and IBM- for an invitation-only conference.

The 2015 Retreat will be similar in format to Endeavor’s 2011 & 2013 Summits, but will have a greater emphasis on peer-to-peer learning. Attendees can expect top-tier keynote speakers, site visits to local companies, industry breakouts, and intensive workshops around everything from human capital to operations.

In addition to the Retreat, Investor Network event in NYC on Tuesday, May 5. Endeavor will also host a series of first-come, first-serve company tours on the morning of the 6th prior to the Summit to Google, IBM and other corporates in the New York Metro area. To sign up and learn more, click on the Retreat registration site.

Endeavor will provide transportation to Westchester from Manhattan on Wednesday morning for those attendees who sign up in advance. Transportation back to Manhattan will be provided- again on a sign-up basis- on Friday afternoon, when formal Retreat activities will end.

Register before March 1st to take advantage of Early Bird rates! Please note that this year’s registration price includes 2 nights accommodation in a double room at the Doral Arrowwood conference center and all meals during the conference.

 

Endeavor Launches Second U.S. Affiliate in Detroit, MI

Detroit, MI – February 9, 2015 – Endeavor is officially announcing the launch of its second U.S.-based affiliate in Detroit, MI. Endeavor Detroit has identified some of the region’s top business leaders and entrepreneurs to join its local board of directors. Antonio Lück has also been selected as Managing Director. As Endeavor’s second entry in the U.S. market following its 2013 launch in Miami, Endeavor Detroit will help usher in a new era of local growth and economic development driven by high-impact entrepreneurship.

The economic challenges faced by Detroit since the financial crisis of 2007-08 have made headlines across the world. With a population of about 700,000, the city has seen a sharp rise in unemployment coupled with economic decline and a dwindling talent pool. Following its landmark municipal bankruptcy filing in 2013, the city has been beleaguered by unemployment rates hovering around 14% – nearly double the national average. The region of Southeast Michigan as a whole has not fully recovered from the financial crisis either, with unemployment rates at nearly 1% above 2007 levels.

Endeavor Insight, the organization’s research team, found that Southeast Michigan suffers from a scaleup gap, with the number of high-growth firms (companies older than three years with at least 20% annual employment growth over the last three years) declining by 50% between 2007 and 2012. Scaleups, however, can be the key engines of sustainable job growth that the city needs. The average high-growth company employs 25 times as many people as the average lower-growth firm, and 76 times as many as the average startup. To return the area’s unemployment rate to 2007 levels, Southeast Michigan will need to fill the job gap by empowering entrepreneurs and ventures that have the potential to create the most high-quality employment opportunities. Learn more about Endeavor Insight’s findings on Detroit’s scaleup ecosystem by clicking here.

Now at a critical crossroads, Detroit is primed for the sort of high-impact entrepreneurship that Endeavor has successfully fostered all around the world. By providing access to a global network of industry leaders, investors and talent, Endeavor’s support can help the best entrepreneurs in the city turn their ventures into businesses that will move the local economy. Endeavor works to take the magic of networks like Silicon Valley and bring it to regions with great ideas and potential, but not necessarily the resources to help founders expand their visions. Once selected into the network, Endeavor Entrepreneurs are connected with strategic mentors and given access to an array of tools that can catapult them to success. Since its founding in 1997, Endeavor has selected and supported over a thousand entrepreneurs representing more than 650 companies in the 22 markets where it operates.

“Detroit right now is in an exciting period of reinvention and growth, driven by a rise in entrepreneurship,” said Board Chairman Cindy Pasky, Founder & CEO of Strategic Staffing Solutions. “Endeavor’s unparalleled global network will equip the city’s best entrepreneurs with the resources they need to aid with ushering in a new era for Detroit.”

“The entrepreneurial talent in Detroit and the broader region is impressive,” echoed Endeavor Co-founder and CEO Linda Rottenberg. “We’re excited to support these companies to scale, stay and multiply their impact by investing, mentoring and inspiring the next generation of local high-impact entrepreneurs.”

All Endeavor affiliates are guided by a local board of business leaders, each of whom believes that high-impact entrepreneurship can transform entire economies. The Endeavor Detroit founding board will be chaired by Cindy Pasky, Founder, President, & CEO of Strategic Staffing Solutions. She will be joined by Gerard M. Anderson, Chairman & CEO of DTE Energy; Dave Egner, Executive Director of the New Economy Initiative and President & CEO of the Hudson-Webber Foundation; Thomas Groos, Partner of City Light Capital; Nate Lowery, Co-founder & CEO of TM3 Systems; Raj Vattikuti, Founder of Altimetrik; and Steven A. White, Chairman & CEO of Detroit Renewable Energy. The launch of Endeavor Detroit was made possible by the commitment and passion of these local board members as well as the support of some of the region’s top institutions and foundations.

“The DeVos Family first met Endeavor a couple years ago and was impressed by a proven track record to catalyze entrepreneurial ecosystems around the world,” expressed Nate Lowery, Co-founder and CEO of TM3 Systems Inc, and Board Member of the Dick and Betsy DeVos Family Foundation and Endeavor Detroit. “While the family has traditionally focused much of its philanthropy in Grand Rapids, taking Michigan’s entrepreneurial ecosystem to the next level will require cooperation from both sides of the state. Our Foundation is thrilled to be a driving force behind Endeavor coming to Detroit and Michigan.”

“From grassroots to high-growth, the New Economy Initiative supports programs that enable entrepreneurs to start, innovate and scale their businesses in SE Michigan,” said David Egner, President of the New Economy Initiative and Board Member of Endeavor Detroit. “The team identified a gap that Endeavor’s model could fill to support entrepreneurs to scale.”

The board has selected Antonio Lück as Managing Director of the office, overseeing the successful launch of Endeavor Detroit. Mr. Lück was previously the Director of Business Acceleration, Entrepreneurship, Innovation and Venture Capital at the Michigan Economic Development Corporation, where he directed all of the state’s early stage financial programs and the portfolio management team. He will lead the day-to-day operations of the office in Detroit and will be involved in screening entrepreneur candidates for consideration.

For entrepreneurs interested in learning more about Endeavor in Detroit, please contact Detroit@endeavor.org.

About Endeavor

Hailed by New York Times columnist Thomas Friedman as “the best anti-poverty program of all,” Endeavor is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 40,000 entrepreneurs and selected more than a thousand individuals leading over 650 high-impact companies.

With support from Endeavor’s worldwide mentor network, these high-impact entrepreneurs:

– Have created nearly 400,000 jobs
– Generated $6.8 billion in revenues in 2013
– Inspire future generations to innovate and take risks

Headquartered in New York City, Endeavor currently operates in 22 countries throughout Europe, Latin America, Africa, Southeast Asia, the Middle East and the U.S.

Contact
Joanna Harries
Vice President, U.S. and Canada
Ph: +1-646-783-6122
joanna.harries@endeavor.org

Endeavor Insight Uncovers Scaleup Gap in Southeast Michigan

endeavor_insightCoinciding with the launch of Endeavor’s Detroit affiliate, Endeavor Insight has released a report focused on the important role scaleup firms play in growing Southeast Michigan’s economy. The report, Filling the Scaleup Gap: How high-growth companies solve unemployment in Southeast Michigan is the first of two Insight studies identifying the decline of fast-growing firms and assessing policies and programs to solve it. The report highlights several important trends affecting Southeast Michigan:

1. Southeast Michigan hasn’t recovered from the financial crisis: Southeast Michigan unemployment is nearly 1% above 2007 levels and lags unemployment rates in peer metropolitan areas (Cleveland, Pittsburgh, etc.) by nearly 2%.

2. Southeast Michigan suffers from a scaleup gap: The number of Southeast Michigan high-growth companies (companies older than three years with at least 20% annual employment growth over the last three years and at least 10 employees) has declined by 50% between 2007 and 2012. Despite adding 7,000 startups and 49,000 lower-growth companies–a 27% increase in the number of companies since 2007–the region continues to suffer from high unemployment.

3. Southeast Michigan scaleups are the engines of sustainable job-growth: The average high-growth company employs 25 times as many people as the average lower-growth firm, and 76 times as many as the average startup. High-growth firms created 94 jobs, on average, between 2007 and 2012, while startups created just two Lower-growth firms barely registered. On average, they did not create a single full-time job. Scaleups are also more durable than other types of companies. Firms with at least one high-growth period between 1990 and 2012 survived twice as long as those that never experienced high growth.

Endeavor Detroit will help close this gap by searching out, selecting, and supporting scaleup companies throughout Southeast Michigan. It will close the scaleup gap, creating new high-quality jobs for a region that helped create some of the most enduring companies of the 20th century.

Read the report below or download it by clicking here.

21 Entrepreneurs From 9 Countries Selected at the 57th Endeavor International Selection Panel in Singapore

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SingaporeFebruary 6, 2015 – Endeavor hosted its 57th International Selection Panel (ISP) in Singapore from February 4-6th, convening top international business leaders, industry experts and entrepreneurs in the Southeast Asian city. Twenty-one entrepreneurs from fifteen companies and nine countries were selected into the network  at the panel. Endeavor now supports 1,051 entrepreneurs from 666 companies across the 22 markets where it operates.

With support from Barclays and EY, the ISP is the conclusion of a rigorous multi-step selection process that is at the core of the Endeavor model. In Singapore, panelists from 10 countries interviewed entrepreneur candidates about their businesses and potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs. Some top names in venture capital, investment and entrepreneurship participated, including Edgar Bronfman Jr. (Endeavor Global Chairman and Accretive General Partner); Eugenio Lopez III (Endeavor Philippines Chairman and Chairman of ABS-CBN Corporation); Afzal Abdul Rahim (Endeavor Malaysia Chairman and CEO of TIME dotcom Berhad); and Husodo Angkosubroto (Endeavor Indonesia Chairman and Chairman of PT Gunung Sewu Kencana).

This ISP is the first panel in the region since the launch of Endeavor in the Philippines earlier this year, which marked the organization’s third affiliate in Southeast Asia.  Endeavor has maintained an office in Singapore since 2011 as a hub for its work in the region. With support from the J.P. Morgan Foundation, Endeavor is currently considering expanding its presence in the city to better select and support the region’s high-growth entrepreneurs.

“As we continue to grow our presence in Asia, bringing the Endeavor network to Singapore signifies the importance of the city as a global center of entrepreneurship and innovation,” said Endeavor co-founder and CEO Linda Rottenberg. “We hope to continue finding the region’s most high-impact, high-growth businesses and empowering them to build ecosystems of entrepreneurship that have the power to move economies and create jobs.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. The entrepreneurs are also connected to world-class talent, education and investment opportunities as part of a business roadmap designed by Endeavor and its mentors. Since 1997, Endeavor Entrepreneurs have created nearly 400,000 jobs, generated and built sustainable growth models in their home countries, transformed local economies and have become role models for future generations of leaders.

Endeavor will host five more International Selection Panels in 2015. Locations will be in Santiago, Chile; Amman, Jordan; San Francisco Bay Area, CA; Marrakech, Morocco; and Mexico City, Mexico.

Brief descriptions of the newly selected entrepreneurs and companies follow.

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Opening day orientations in Singapore

BRAZIL

Entrepreneur: Alessandro Gardemann
Company: Geo Energetica
Description: Geo Energetica offers an alternative to hydropower as Brazil’s booming population growth compels the country to expand its electric energy consumption by 29 gigawatts (GW) through 2021. The company transforms organic waste from Brazil’s sugarcane industry to produce electricity, providing a clean, reliable source of energy year-round.

EGYPT

Entrepreneurs: Hossam Fahmy, Sherif Gad & Tamer El Leithy
Company: Mori Co
Description: With its fusion sushi, gourmet burger, and authentic Lebanese dining concepts, Mori Co is setting the table for a new wave of global cuisine in Cairo. Despite Egypt’s positioning at the crossroads of civilizations, its culture lacks a cosmopolitan dining scene. Mori Co owns and operates four trend-setting restaurant concepts in Egypt that deliver food inspired by the world’s best cuisines. In a MENA F&B market estimated at US$40 billion, Mori Co operates 20 restaurants.

GREECE

Entrepreneur: Periklis Venieris
Company: Green Cola
Description: Green Cola, an Athens-based beverage company, is offering consumers a healthy alternative, made using 100% natural sources for sweeteners and caffeine. Aimed at a new generation of consumers, Green Cola is exploiting an underserved market for healthier cola – estimated at approximately US$442M (10% of the overall sparkling beverage industry). Green Cola is poised to scale on the back of its founder and CEO, Periklis Venieris’, deep industry know-how from 20 years at Coca Cola, and the company’s underlying manufacturing assets, acquired during the financial crisis.

Entrepreneur: Philipp Brinkmann
Company: Tripsta
Description: By consolidating flight, ferry, and train options in an easy to search, minimalist interface, Tripsta helps travelers quickly find what they are looking for. The company provides a user-friendly, comprehensive online and mobile platform for travelers to book flights, ferries, and trains on 40 country websites. Tripsta’s minimalist interface lacks the distracting clutter customers are accustomed to seeing on online travel booking websites, making it easier to find what they are looking for.

INDONESIA

Entrepreneur: Steven Kim
Company: Qraved
Description: With a booming restaurant industry in Indonesia that added over 400 quality restaurants in 2013 alone, diners have more options than ever to enjoy fine cuisine, if they know where to find it. Meanwhile, restaurants want to tap into Indonesia’s burgeoning middle-class, which spends up to 30% of its disposable income on food and beverage. Through Qraved’s website and mobile app potential patrons can browse and make reservations at over 3,000 restaurants in Jakarta and Bali. In turn, restaurants fill their empty tables and gain exposure to the thousands of Qraved users.

Entrepreneurs: Carline Darjanto & Ria Sarwono
Company: CottonInk
Description: Cotton Ink is a company that aims to become the leading Indonesian women’s retailer through its range of trendy clothing that evokes confidence through comfort with its simple yet stylish designs. The company’s clothing drapes the body using a range of pastel, earth-toned, and traditional cotton fabrics. The clothing’s relaxed cut provides comfort while still flattering slender frames. Cotton Ink provides a range of basic and accent pieces to encourage personal style and versatility. To offer customers the latest fashion trends, Cotton Ink launches new collections (15-20 pieces) every week unlike competitors that do so every one to two months.

Entrepreneur: Muhammad Yukka Harlanda
Company: Brodo
Description: Brodo has made it its mission to improve the men’s shoe shopping experience, product quality, and selection in the region. Although ecommerce in Indonesia was nascent when the company began, Brodo envisioned how an encroaching digital world would change the way people shopped and interacted with brands. Brodo will launch Galleries, pop-up stores without inventory within the next few years, where customers can view, test, and purchase products that are delivered the same day.

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Interview day taking place at The Working Capitol

MALAYSIA

Entrepreneur: Edwin Tay
Company: EasyUni
Description: For Southeast Asian students, finding a Western university is no easier since there are few free resources for Southeast Asians that consolidate impartial information on the plethora of higher education options. EasyUni’s multisided platform provides a solution for universities and Southeast Asian students alike. Its free online education portal aggregates information on over 2,000 universities across 33 countries, making it easy for prospective students to compare and choose courses, while also facilitating an end-to-end application process. At the same time, EasyUni drives applications and grows the brand reputation of universities in the region.

MEXICO

Entrepreneurs: Carlos Agami & Jacobo Agami
Company: Agasys
Description: Founded in 2006, Agasys uses CCTV systems (video surveillance systems) to measure and increase the productivity of employees and derive insights into customer behavior. Agasys’ proprietary software generates a random sampling of video clips that provide representative information of individuals’ behavior, unbiased by outliers.

Entrepreneur: Enrique Bojorquez
Company: Sucroliq
Description: Sucroliq produces a refined liquid sugar for food and beverage manufacturers and pharmaceutical companies available at an affordable standardized cost and to a client’s specifications. Sucroliq’s patented technology enables it to refine raw sugar in liquid form for only US$50 per ton – a quarter of normal costs. Sucroliq is the sole provider of refined liquid sugar in Mexico and aims to be the world leader in liquid sugar refinement and production technology.

Entrepreneur: Alejandro Carrillo
Company: InterLatin
Description: InterLatin is bringing Mexico to the forefront of the technological boom. Globally, high-tech businesses (e.g. electrical, aerospace, automotive) are outsourcing manufacturing processes, such as circuit board assembly, testing and inspection, final assembly, and distribution. Operating in a global Electronic Manufacturing Services (EMS) and Original Design Manufacturer (ODM) market estimated to be worth US$363.8 billion (2013), InterLatin provides sells specialized technology equipment and services to companies in high-tech industries (B2B).

SOUTH AFRICA

Entrepreneurs: Craig Raw & JP Kloppers
Company: BrandsEye
Description: While computers can compile and sort the conversations, they struggle to interpret relevancy and sentiment. BrandsEye’s proprietary platform enables consumer-facing brands to listen to what their customers say about them across online blogs and social media in order to better inform their business strategy. The platform incorporates a crowd-sourcing layer to add nuance and emotion to the raw information, which in turn makes BrandsEye’s data more accurate.

TURKEY

Entrepreneur: Zafer Sen
Company: OBSS
Description: OBSS helps enterprises strengthen their IT infrastructure by providing them with software development and consulting services. With some of Turkey’s most prominent financial institutions as clients, OBSS is an established player in the burgeoning Turkish IT and software market, which is projected to grow at a rate of 7.4% to reach US$25 billion in 2018.

UAE

Entrepreneurs: Ayman Fakoussa & Dipesh Depala
Company: The Qode
Description: Luxury brands in Dubai struggle to authentically connect with the diverse population which includes over 150 different nationalities. Meanwhile, most local PR companies are not attune to the marketing needs of this niche retail segment, leading to discord between the client’s products and target audience. The Qode personalizes PR marketing for luxury brands with its end-to-end services, including tailored event planning, diverse publishing channels, and exclusive VIP guest-lists.

Entrepreneur: Idriss Al Rifai
Company: MENA360
Description: MENA360 provides businesses a turnkey solution for entering the ecommerce space in the region and for reaching customers. The company equips its delivery personnel with GPS-enabled tablets and task-assigning software to locate customers via their mobile devices. MENA360 plans to capture additional market share in the Gulf’s US$1.7 billion ecommerce-triggered logistics market (2015e) by growing its delivery capabilities across the region, becoming the turnkey solution for ecommerce in the Middle East.

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Panelists deliberate on the selected entrepreneurs on the final day

Mexico's Travesias Media Selected By Banamex to Publish Corporate Magazines

Mexico’s Travesias Media, founded by entrepreneur Javier Arredondo, announced that it was selected by Grupo Financiero Banamex, one of the largest banking operations in Mexico, to publish the group’s corporate magazines. Travesias has evolved to become a premiere media agency that generates high-quality editorial content focused on luxury, travel, lifestyle and current events.

Travesias will be partnering with Banamex to publish the magazines “Valor” and “Valor Corporativo”, two publications that target an affluent and finance-literate audience that is 45 years and older. In particular, the magazines will be aimed at the institution’s consumer and corporate banking clients.

Grupo Financiero Banamex has branded its print media to set the standard when it comes to personal finance, business and lifestyle content. Both “Valor” and “Valor Corporativo” will be bi-monthly magazines with controlled circulation, whose editorial content has been developed for readers with a specific interest in economic and social current affairs.

This partnership demonstrates Travesias’ growing brand and client base in Latin America. Since his selection by Endeavor in 2002, Javier has been an active member of the Endeavor network. With over 50 employees, Travesias has grown to encompass a number of lifestyle brands and works closely with an international network of over 200 collaborating writers, translators and photographers. Endeavor provided Javier and his team with a custom advisory board of mentors that helped him refine his business model and connect with industry experts.

Learn more about Travesias by clicking here.

Entrepreneurship Ecosystem Insights Newsletter – January 2015

The January 2015 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Entrepreneur Connections: Saudi Arabia’s Glowork and OTS Partner on Job Recruitment Service for Women

GloOTSDuring a recent Endeavor KSA event, more than 30 members of the local network convened to discuss the impact of Endeavor in the region. Attendees had the chance to meet casually over the three hour  event, which started off with a private lunch between local board members and Endeavor Entrepreneurs. As a result, two Endeavor KSA Entrepreneurs had the opportunity to form a unique business partnership, demonstrating the power of Endeavor to bring together high-impact founders.
Khalid Alkhudair, founder and CEO of Glowork, has dedicated his business to creating equal opportunities for women by bridging the gap between employers and female jobseekers. For women in the region, the job market is one of the toughest in the world. Having placed more than 20,000 women in jobs in only three years, Glowork is leveraging its brand to launch into other business verticals where women are under-served.
Ahmed Hamdan, founder and CEO of OTS (Optimal Technology Solutions), built a platform that offers digital communication solutions to help businesses communicate and form meaningful relationships with their customers through web and mobile channels. OTS has expertise in effectively reaching consumer audiences throughout MENA, with offices in Saudi Arabia and six other countries in the region, and clients in 20 countries.
Through their partnership, the entrepreneurs are working to create a unique SMS messaging service, a specialty of OTS’, that will offer the region’s female jobseekers the chance to register for an upcoming “A Step Ahead Career Fair” organized by Glowork.

glowork & ots

Ahmed and Khalid making an entrepreneur-to-entrepreneur connection

 

 

World Economic Forum Report on Entrepreneurial Ambition Features Insights from Endeavor Entrepreneurs

WEF

A report produced by the World Economic Forum, the Global Entrepreneurship Monitor and Endeavor examines the concept of entrepreneurship in three dimensions: early-stage entrepreneurial activity, growth-oriented entrepreneurship and innovation-based entrepreneurship. The study aims to develop a useful framework for policymakers to understand and support the best entrepreneurs in every region. Case studies and interviews with Endeavor Entrepreneurs from Saudi Arabia to Brazil serves to support the assessment.

It is widely believed that entrepreneurial activity is a critical component to a prosperous society, considering how entrepreneurs create jobs, drive progress and contribute to economic growth. Consequently, many governments and their policymakers aim to increase the number of entrepreneurs in their countries and aid their development. But providing this support is no easy task, as entrepreneurs are not necessarily the same even within a country and often appear in different guises depending on the country in which they are located.

By drawing on two unique data sets – the Forum’s Global Competitiveness Index and Global Entrepreneurship Monitor’s assessment of entrepreneurial activity – the report takes a nuanced stance on the prevalence and types of entrepreneurs globally, and the environments in which they thrive. This look at entrepreneurship aims to provide a deeper understanding of early stage entrepreneurial activity by taking into account that not all entrepreneurs are the same. Specifically, the report highlights early-stage entrepreneurs that are innovative and ambitious about their growth expectations, arguably those with the highest impact on economies.

The report ultimately finds that, in general, early-stage entrepreneurial activity is higher in economies that are less competitive and lower in highly competitive economies. Conversely, the proportion of ambitious and innovative entrepreneurs is more frequently high in more competitive economies. In many highly competitive economies with low rates of business starts, entrepreneurial drive manifests itself through more formalized structures, which dispels any quick conclusions about the quality of entrepreneurial ecosystems based on entrepreneurship rates alone.

Endeavor Entrepreneurs that provided their insights for the report include Rafael Bottós of Welle Tecnologia Laser (Brazil), Maha Arayssi Rifai of Beesline (Lebanon), Daphne Loukas of Out There Media (Greece), Caio Bonatto of TecVerde (Brazil) and Lateefa Alwaalan of Yatooq (Saudi Arabia).

Read the full report and learn more about the findings by clicking here.

Endeavor Lebanon Co-Hosts Global Lebanese Entrepreneurs and Investors Summit in Beirut

Endeavor Lebanon and the Lebanese International Finance Executives (LIFE) held the Global Lebanese Entrepreneurs and Investors Summit, a meeting that brought together over 300 Lebanese investors, business executives and local entrepreneurs. The goal of the Summit was to create a dialogue between Lebanon’s local and global stakeholders and position the country as a prime market for investment. Select Endeavor Entrepreneurs from the local network also attended the event to share their high-impact stories.

Hosted in Beirut, the day-long event showcased the evolution and high-growth potential of Lebanon’s entrepreneurial ecosystem. Hundreds of high net-worth, venture capital and growth equity investors attended the Summit from major financial centers including New York, London, Paris, Geneva, Singapore and Dubai. Comprised mainly of Lebanese ex-patriates, the participants explored investment opportunities in businesses built by a young generation of local entrepreneurs in a variety of sectors. Panel discussions throughout the day highlighted the investment potential in the thriving Lebanese technology and design industries, as well as the importance of attracting and retaining human capital.

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A panel discussion during the Summit

“Lebanon boasts a vibrant scene of entrepreneurial talent and SMEs with great potential to grow, but this potential remains capped due to lack of access to capital and international markets. This summit, organized with our partners LIFE, has given birth to an investor network that specifically strengthens that weak link and creates the missing connections,” said Tarek Sadi, Managing Director of Endeavor Lebanon. “Hundreds of people are here today because they truly care to revive the country’s economy and help it grow.”

In his keynote speech, H.E. Mr. Riad Salame, Governor of Lebanon’s Central Bank, announced plans to license a stock exchange that would list SMEs and family-owned businesses and to facilitate exit strategies for Lebanese entrepreneurs. This follows a series of several important initiatives undertaken by bank in the past two years to support local entrepreneurs.

A number of top Lebanese entrepreneurs, including many in the Endeavor network, attended the event – Labib Shalak, Jamil Corbani, Mohamad Arayssi and Nada Debs all shared their success stories, failures and insights on how they attracted capital despite the challenges and risks in the country.

Find out more about the event by clicking here.

Harvard Business Review Features Endeavor Research on Tech Founders

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The Harvard Business Review (HBR) featured research from Endeavor Insight that dispels some popular myths about tech entrepreneurs. Tech founders are often associated with prominent colleges, technical training and youth. Data from Endeavor, however, reveals that these beliefs are often the exceptions, not the rule.

Two of the most successful tech entrepreneurs in history – Bill Gates and Mark Zuckerberg – promote the stereotypes around tech founders. Both were college dropouts who studied computer science by day, programmed by night, and built large public companies without ever having worked at one. Anecdotes from popular media have only added to the cult of youth. Last year, articles in The New Republic and The New York Times explored the role that young entrepreneurs have played in shaping Silicon Valley.

Over the last year, Endeavor Insight began studying the New York City tech sector, one of the largest in the world, to understand just how closely these myths align with reality. Starting with publicly available data from Crunchbase, AngelList, and LinkedIn – and layered on top of interviews with nearly 700 local tech founders – the data found that none of these stereotypes hold up.

Read the full HBR piece to find out more about Endeavor’s findings by clicking here. Also find mention of Endeavor’s research in the Financial Times.

The Myth of the Tech Whiz Who Quits College to Start a Company

Endeavor's Linda Rottenberg Highlights the Inclusive Power of Entrepreneurship for WEF 2015

World-Economic-ForumAs part of the World Economic Forum’s annual gathering in Davos, Linda Rottenberg, Endeavor co-founder and CEO, published an article assessing the state of inclusive entrepreneurship worldwide. The article celebrates the role that Endeavor Entrepreneurs like Leila Velez from Beleza Natural and Lateefa Alwaalan from Yatooq have played in transforming economies and creating high-quality jobs in countries like Brazil and Saudi Arabia.

Endeavor’s role, for nearly 20 years, has been to build “an inclusive middle path, making high-impact entrepreneurship the foundation of prosperous societies worldwide,” Rottenberg writes. Endeavor Entrepreneurs like Leila and Lateefa have moved entrepreneurship into the realm of possibility for millions at society’s margins. Rottenberg, writing about the role of these transformative entrepreneurs, also highlights recent research from Endeavor Insight. As part of a study of New York City’s tech entrepreneurs, she discusses the impact that top-performers can have on the growth of local entrepreneurship ecosystems. In New York City, she notes that “top-performing entrepreneurs…[are] more than twice as likely to become top-performers themselves.” These dynamics, in turn have led to the fast growth of women-led companies in New York City, “just 42 in 2003 to 457 in 2013.” Supporting more than 1,000 entrepreneurs worldwide, Endeavor catalyzes a dynamic of reinvestment that can make entrepreneurship, and society at large, more inclusive.

Read Linda’s full piece for WEF by clicking here.

How entrepreneurship boosts inclusive growth – Agenda – The World Economic Forum

January 2015 Newsletter

JanNewsTo view Endeavor’s January newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Launches Third Southeast Asian Country Affiliate in the Philippines

 

Manila, Philippines – January 7, 2015 – Endeavor announced that it will expand its presence in Southeast Asia with the launch of Endeavor Philippines, its third country affiliate in the region. The launch is supported and led by some of the country’s top entrepreneurs and business leaders, including seven founding board members and a newly named managing director. According to the World Bank, the Philippine economy remains one of the fastest growing in the region, offering a promising climate for high-impact, high-growth entrepreneurship.

With a population of nearly 100 million spread across more than 7,000 islands, the nation is the seventh most populous in Asia and one of the most diverse. While the Philippine economy has grown at an average of 6% since 2012 according to the World Bank, over 20% of the population still lives in poverty. Supporting high-impact entrepreneurship in the region offers a critical opportunity to fuel economic growth at all levels. With an estimated 99% of Philippine enterprises considered small- or medium-sized businesses, many are facing the crucial scale-up stage that determines whether or not they can grow into impactful businesses that create thousands of jobs. Endeavor research found that just 5% of the country’s total number of firms are considered high-growth (with a minimum of 20% average annual growth), but created 75% of the net new jobs in the country.

The landscape of entrepreneurship in the country continues to show much promise. The Global Entrepreneurship Monitor found that nearly half (48%) of all Filipinos have a very positive view of the entrepreneurial opportunities in their country; furthermore, 68% believe they have the capabilities needed to start a business. At the same time, many recognize the barriers to entrepreneurial development in the country, including a lack of access to financial support, government programming and guidance from role models.

This is where Endeavor’s model can make a difference. By providing access to a world-class network of industry leaders, investors and talent, Endeavor’s support can give the best entrepreneurs in the region the chance to turn their ventures into transformational businesses. Endeavor aims to take the magic of networks like Silicon Valley and bring it to regions with great ideas and potential, but not necessarily the resources to help founders take their visions to the next level. Once selected into the network, Endeavor Entrepreneurs are connected with strategic mentors and given access to an array of tools that can catapult them to success. Since its beginning in 1997, Endeavor has selected and supported 1,030 entrepreneurs representing 651 companies in the 22 markets where it operates. In 2013, from Miami to Morocco, these entrepreneurs have generated $6.8 billion in revenue and created 400,000 jobs across Latin America, Africa, the Middle East, Europe and Southeast Asia.

“It is an exciting time in the history of Endeavor, as we have now helped more than a thousand entrepreneurs realize their dreams,” said Endeavor co-founder and CEO Linda Rottenberg. “The addition of Endeavor Philippines ensures that we will continue to make an impact in one of the most dynamic and exciting regions in the world.”

All Endeavor affiliates are spearheaded by a local board of leading business people, each of whom believes that entrepreneurship can transform economies.  The Endeavor Philippines founding board will be chaired by Eugenio (Gabby) López III, Chairman of ABS-CBN Corporation. He will be joined by Jaime A. Zobel de Ayala, Chairman & CEO of Ayala Corporation; Cezar Consing, President & CEO of the Bank of the Philippines Islands; Anthony T. Huang, President of SSI Group, Inc.; Sheila Lirio Marcelo, Founder, Chairwoman & CEO of Care.com; Edgar Injap Sia II, Chairman of DoubleDragon Properties Corp.; and Julio Sy, Jr., Founder & CEO of TAO Corporation.

“Endeavor has come to the Philippines at just the right time,” said Board Chairman Eugenio (Gabby) Lopez III.  “Sustained economic growth has seen the rise of entrepreneurial activity in the country. We hope to accelerate the development of a vibrant entrepreneurial ecosystem by helping to unleash the full potential of high-impact entrepreneurs.”

The board has selected Manny Ayala as Managing Director of the office, overseeing the successful launch of Endeavor Philippines. Mr. Ayala was a co-founder of Hatchd Digital, a tech incubator, and a Managing Director of investment bank IRG. He will lead the day-to-day operations of the Endeavor office in Manila and will be involved in screening the first entrepreneur candidates for consideration.

Endeavor Reaches Milestone of A Thousand Entrepreneurs Selected with Spain’s Shot & Shop and Miami’s Kairos

During the 56th International Selection Panel in Miami, FL, Endeavor officially marked the selection of a thousand entrepreneurs since 1997. During an intense day of deliberations by groups of expert panelists, two entrepreneurs simultaneously emerged as the thousandth entrepreneurs to be voted in unanimously during their panels. Spain’s Shot & Shop, founded by Sira Pérez de la Coba, and Miami’s Kairos, founded by Brian Brackeen, had the honor of being the milestone selections. Endeavor has now selected and supported 1,030 entrepreneurs from 651 companies across 22 countries.

Founded in 2012, Kairos’ facial recognition API captures the depths and contours of a 2D facial image through 85 points of interest and renders the image as a 3D model to ensure 99% identification accuracy. Even if people change their appearance – by growing a beard or putting on glasses – Kairos’ software will recognize them. The software’s pricing model allows clients to use it for free (for up to 50,000 identifications), and scale the service to meet their specific use requirements and budget. The system delivers fraud management and work automation solutions to clients through 3D facial recognition, one-to-many identification, anti-spoofing, mood detection, gender analysis, security and compliance, mobile authentication and more. Brian and his team have succeeded in raising over $3 million in funding to support the Miami-based company’s growth.

 

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Kairos’ Brian Brackeen during the Miami ISP

“The Endeavor story was intriguing to me from the start. The power of the network, the support, the mentorship, the help with accessing capital, are all a dream for any CEO,” Brian explained. “Endeavor pushes you forward, into markets that you did not before imagine. I’ve been an Endeavor Entrepreneur less than a month, and yet, it’s had a huge impact on our business.”

Across an ocean, Sira founded her Madrid-based company Shot & Shop in 2012 with the vision of inventing the first image recognition and retrieval technology able to identify accurate visual matches in real-time without previous image, pattern, or verbal tags. Shot & Shop’s proprietary technology has a host of commercial applications. In its first application, retail brands and digital advertisers are using Shot & Shop to better understand consumer preferences and improve the relevance and efficacy of targeted marketing, which drives online sales. The technology is especially equipped for real-time digital ad bidding, and is the only visual search technology able to make real-time digital ad recommendations based on a publisher’s visual content.

 

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Shot & Shop’s Sira Pérez de la Coba demonstrating her product

“My experience at the Miami ISP was like a dream: amazing, intense, passionate, unique, exciting, and really rewarding. Meeting so many people with so much talent and global vision was an incredible privilege,” Sira said about her selection. “With Endeavor, I look forward to changing the world as a scientist and Endeavor Entrepreneur, and I look forward to helping future entrepreneurs continue with their legacies.”

Read more about all of the entrepreneurs selected at the 56th Endeavor ISP in Miami by clicking here.

Entrepreneur Connections: Egypt's SASCO Group and OfficeNet Co-Founder Santiago Bilinkis

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Egypt’s SASCO Group, an office supplies chain founded by entrepreneurs Tarek Sryo and Alaa Sryo, recently made an Endeavor connection with Argentine entrepreneur Santiago Bilinkis, co-founder of Officenet. Santiago honed his expertise in the office supply industry by creating the “Staples of Latin America” with fellow entrepreneur Andy Freire. Together, the pair became Endeavor’s first entrepreneurs and  built Officenet into a global success story when it was acquired by Staples in 2005. Santiago’s mentorship connection with SASCO’s founders demonstrate the growing reach and impact of the Endeavor network.

During the introductory mentoring session, which has to the potential to turn into a regular relationship, the SASCO team discussed a recent acquisition developed by Endeavor that has allowed the company to to foster its e-commerce platforms. The team was looking for advice on managing marketing, manufacturing and distribution best practices from a seasoned industry expert like Santiago. Santiago drew from his experience building Officenet until its acquisition, offering insights on everything from revenue streams to B2B and B2C sales. The session proved to be a valuable experience for SASCO’s founders and for Santiago, fostering the global ecosystem of entrepreneurship that forms the foundation of Endeavor’s model.

Since joining the network in 2011, Endeavor has helped SASCO form an advisory board of mentors and arrange connections with other entrepreneurs and investors around the world. One of Egypt’s largest manufacturers of stationery supplies, SASCO is a family business that the Syro brothers envisioned taking to the next level with innovative product lines, distribution channels and e-commerce services. The company now employs over 700 people and reports revenues in the millions, and the brothers have also demonstrated a willingness to give-back by supporting the work of the Endeavor Egypt office.

Deloitte Fast50 Ranks Endeavor Companies from Egypt and South Africa as Fastest-Growing Tech Firms in the Region

fast50Egypt’s TA Telecom and South Africa’s Everlytic were named to Deloitte’s Technology Fast50 list, an annual ranking which highlights technology companies that have achieved the fastest rates of revenue growth in the African region over the past five years. The list is the leading ranking of its kind in the region, putting a focus on innovation in growth markets.

Fast50 Africa is part of an international program run by professional services firm Deloitte. Entrants of the Fast50 are also entered into  the Deloitte Technology Fast500 EMEA (Europe, Middle East and Africa) program. Previous winners have included some of the most dynamic players in all areas of technology, from Internet specialists to biotech, digital media technology to life sciences, computers to semiconductors and software to telecommunications.

Selected by Endeavor in 2011, TA Telecom was founded by entrepreneur Amr Shady as a value-added services (VAS) mobile solutions provider that delivers time- and location-specific content to subscribers. With operations across the Middle East and Africa, TA’s services range from demographically-targeted SMS advertising to custom content delivery platforms. Servicing over 10 million subscribers, TA is also working towards international growth with an expansion into South Africa supported by Endeavor. Since joining the network, Amr has been an active promoter of the organization’s work, serving as a mentor and board member for Endeavor Egypt. As a panelist at International Selection Panels, he has also played a key role in selecting new generations of entrepreneurs in the pipeline.

Joining the network in 2009, South Africa’s Everlytic, founded by entrepreneurs Sam Hutchinson and Josh Adler, has evolved from a web-applications developer into a content management system provider for the publishing industry. The company offers world-class products like Preditor CMS, a targeted content platform for magazine publishers, and pMailer Enterprise, an email and SMS marketing and delivery service. Together, these products significantly reduce the cost of print production for customers while exposing new opportunities on web and mobile platforms. Endeavor has helped the team connect with industry experts and business leaders, as well as foster critical relationships through the Endeavor Investor Network.

View a complete list of the Fast50 winners below and by clicking here.

Ranking Company Name Country Growth
1 Interswitch Limited Nigeria 1226%
2 Techno Brain Kenya 621%
3 Everlytic South Africa 606%
4 T.A Telecom Egypt 560%
5 Adapt IT South Africa 295%

Argentina's Globant Opens New Development Center in Peru, Expands Latin American Presence

GlobantEndeavor Entrepreneur company Globant, a technology services firm focused on delivering innovative software solutions, announced that it has expanded its operations to Perú by opening a new development center in Lima. The new office allows Globant to expand its presence in Latin America and continue developing its customer portfolio, propelling services provided to its clients and expanding opportunities for regional talent. One of Endeavor’s top entrepreneurial success stories, Globant also has offices in cities across Argentina, Uruguay, Brazil, Colombia, and the US.

Founded in 2003, Globant was envisioned from the start as a business that could generate world-class career opportunities for IT professionals while showcasing Latin American talent. Globant has become one of the fastest growing software solutions companies in Latin America, providing clients worldwide with solutions that are design-minded, scalable and efficient. The entrepreneurs have put Argentina on the radar of the global marketplace for offshore IT services, with a portfolio of clients that include Google, LinkedIn, Sabre and Electronic Arts. Employing more than than 3,500 professionals worldwide, Globant and its founders have succeeded in becoming a source of inspiration for entrepreneurs both in Argentina and all around the world.

“We chose Peru due to the outstanding growth it has shown during the past years,” said Martín Umaran, Globant Chief of Staff and co-founder. “Lima has become a remarkable business center in the region. We see a growing amount of highly qualified professionals that are at the same level as the best professionals worldwide. With this in mind, we expect to continue growing in Peru towards our goal of becoming the best company in the creation of innovative software products.”

Martín Migoya, Globant CEO and co-founder, added: “We are extremely happy to open this development center in Peru and to keep expanding our presence throughout the world in the search of the best talent. This center proves that world-class software products can be built by putting together global teams, and by understanding that geography today isn’t the predominant factor to take into account. It’s just one of the many facts that impacts the career growth of young people all over the world.”

The company, which held its IPO on the NYSE in 2014, has been highly engaged with Endeavor’s work in Latin America and globally, serving as mentors, ISP panelists and donors. The founders have also attended and spoken at a number of Endeavor-hosted events, including both regional and global galas, retreats and summits. Martín and Guibert also serve as board members in Argentina, with Guibert recently named chairman of the local board. The story of the Globant founders is a testament to Endeavor’s model and the multiplier effect of entrepreneurship as the team becomes role models and investors for future generations of ventures.

Read more about the news by clicking here.

Endeavor Jordan Research Spotlights Amman's High-Growth ICT Industry

endjorEndeavor Jordan has released new research that sheds light on how high-impact entrepreneurs contribute to job creation and long-term economic growth in Amman and all around the country. The research is key to educating stakeholders about the importance of supporting the region’s entrepreneurial ecosystem and scale-up businesses. Titled Multiplying Impact: Amman’s High-Growth ICT Industry, the report specifically examines entrepreneurs that have made substantial contributions to the communications and technology sector through mentorship, investment or inspiration.

The development of entrepreneurship ecosystems cannot be judged by the number of startups in the ecosystem, nor are startups the only answer for the Middle East’s pressing job crisis. Rather, the scale-up entrepreneurs that manage to overcome the initial start-up phase hurdles and reach the more challenging stages of their businesses are the ones with the most potential to create large amounts of jobs and transform economies.

The report shares stories of such high-impact entrepreneurs whose impact have reached beyond the success of their own businesses to contribute to the organic growth of a growing ICT sector in Jordan. These entrepreneurs have enabled next-generation entrepreneurs to succeed in growing and scaling their own companies and commercializing their products and services, thus employing more people and expanding the economy’s productive potential.

By following the specific patterns of mentorship, investment and serial entrepreneurship activities, these founders have helped produce localized ecosystems that are increasingly integrated with the thriving global technology sector. The development of the ICT ecosystem in Jordan is also demonstrated through what Endeavor refers to as the “Entrepreneurship Acceleration Cycle”. This pattern has been observed in many successful communities around the world and is comprised of four distinct steps:

Step 1: Ambition
Entrepreneurs seek to build large, scalable businesses in their local communities.
Step 2: Growth
Ambitious founders achieve significant growth at their companies.
Step 3: Commitment
Successful founders choose to stay in the local area and share their resources with the next generation of entrepreneurs.
Step 4: Reinvestment
Successful founders reinvest in other entrepreneurs and businesses.

The cycle of entrepreneurial Ambition, Growth, Commitment, and Reinvestment has helped accelerate the development of Jordan’s technology ecosystem, as well as establish companies that demonstrate the potential to be sustainable and thriving businesses.

“Endeavor is committed to gaining a better understanding of the opportunities and challenges facing high-growth companies and the local entrepreneurial landscape as a whole. The report aims to provide in-depth insights into the Jordan’s dynamic ICT sector, which we believe has great potential to actively contribute to job creation,”said Rasha Manna, Managing Director of Endeavor Jordan. “In line with our ongoing efforts to sustain local entrepreneurship, the report also highlights the patterns of mentorship and reinvestment, which help accelerate industry growth, while advising policy makers and business leaders on how to best support the cultivation of high-growth companies.”

Read the stories of Jordan’s high-impact entrepreneurs in the full report below or by clicking here.  To read the report in Arabic, click here.

Turkey's Iyzico Acquires Payments Analytics Firm MyPat.co

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Turkey’s Iyzico, an online payments platform, recently acquired consumer analytics company MyPat.co, uniting the services to better serve Turkish businesses operating online. Founded by Endeavor Entrepreneurs Tahsin Isın and Barbaros Özbugutu, Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market.

Selected this year at the 55th International Selection Panel in Istanbul,  Iyzico was founded in 2012 with the vision of making online payments easier than ever before. From obtaining contracts with banks to systemic fraud, Turkish companies both large and small struggle with online payments. Iyzico’s two API platforms connect 22 banks and payment companies with over 850 merchants, enabling merchants to accept online payments in the easiest and safest manner.

The company’s seasoned executive team and local know-how – from collective 33 years experience in the payment market to personally setting up all the contracts with the banks – enable it to offer a more sophisticated and adaptable platform than competitors in Turkey. While there are many global competitors in the online payment market — namely Stripe and World Pay — none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity. With over 7,2000 registered members, Iyzico’s acquisition news will allow the company to expand its services and provide a better understanding of customer behavior and analytics.  MyPat.co currently serves six major clients, including Endeavor Entrepreneur companies Yemeksepeti and Armut.

Learn more about the news by clicking here.

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Iyzico founders with MyPat.co founder Hakan Erdogan

Entrepreneurship Ecosystem Insights Newsletter – December 2014

The December 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Report on Scale-Up Entrepreneurship in the U.K. Examines Research from Endeavor

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A new report titled The Scale-Up Report on UK Economic Growth has identified the impact of scale-up companies on the country’s economy and highlighted the importance of supporting high-impact, high-growth firms. Authored by entrepreneurship influencer Sherry Coutu, the report utilizeEndeavor’s research and work to underscore the need for policies and programs that support businesses through the critical scale-up phase.  

The report defines scale-ups similar to the way that Endeavor Insight and other organizations like the OECD and Nesta do. According to its analysis, a scaleup is “an enterprise with average annualised growth in employees or turnover greater than 20 per cent per annum over a three year period, and with more than 10 employees at the beginning of the observation period.”

The report found that scaleups are quite rare. There are more than two million businesses in the U.K., but only 8,923 of these companies are scaleups. However, these businesses accounted for a huge share of the country’s job and wealth creation. A study cited in the report noted that the fastest-growing 6 percent of U.K. firms created over half of its new jobs. The analysis included in the scaleup report also estimates that if the U.K. can increase the number of scaleups in its economy, it will generate an additional 238,000 jobs and £38 billion in value within three years.

If scaleups are so critical, it is important to understand what they need in order to continue to grow. A survey of over 300 founders of scaleup firms in the U.K. revealed that attracting talent, securing customers, and attracting financing are the the most pressing issues faced by these fast-growing companies.

Accessing critical talent was the most important issue cited by scaleup founders in the U.K. For example, over 85 percent of the scaleup companies reported that they would grow faster if it were easier to develop their leaders, and 87 percent of scaleups said that they would be able to grow faster if university graduates had the skills needed to meet customer demand. Eighty percent of scaleup founders also reported that they could greatly benefit from accessing more talent from overseas.

Interestingly, according to additional data shared at the public release of the report accessing finance was primarily an issue for smaller, fast-growing firms. Larger fast-growing firms reported much greater access to funding.

The report concludes with a number of recommendations that the U.K. government can take to support the growth of scaleup firms. It focuses on six areas:

– Targeting, supporting, promoting and reporting on scale-up gap closure. This includes targeting, supporting, promoting and reporting on the number of scaleup companies and their performance.

– Accessing talent. As the report notes, “For leaders of scale-ups, the number one problem that prevents them from being able to accept customer orders is access to talent, namely a skilled supply of people who they can hire.”

– Developing scaleup leadership. Developing internal leaders and managers inside their companies was the second most important factor cited by scaleup founders as stopping them from growing their revenues.

– Increasing customer sales at home and abroad. According to the report, “Barriers exist that prevent companies creating new products and services for domestic markets, and selling successful products in other countries.”

– Financing scaleups. Analysis suggests that scaleup companies often turn to the US or Asia to raise financing.

– Accessing infrastructure. Entrepreneurs at scaleup businesses also reported that lack of access to infrastructure makes it more challenging to grow their companies in the U.K.

To read the full report and its analysis, please click here.

Endeavor Greece Celebrates Two Years and 3,500+ Jobs Created By Its Entrepreneurs

endeavor-greece-logo-454280Endeavor Greece released an infographic and video to highlight the office’s impact during its two year anniversary. The team supports some of the region’s top high-impact entrepreneurs who continue to drive sustainable job creation and contribute to a growing business ecosystem. Currently, Endeavor Greece’s network includes 16 entrepreneurs from 11 companies who have managed a total turnover of €110 million and have created  over 3,500 direct and indirect jobs.

When it was announced in  late 2012, the launch of Endeavor Greece made headlines in the midst of the country’s political and economic turmoil. Endeavor, however, saw a prime opportunity to bring its model to a struggling region and support high-impact, high-growth entrepreneurs that could create jobs and transform industries. Watch Linda Rottenberg discuss the the decision to enter Greece in this 2012 CNBC interview.

Eighty percent of the jobs created by Endeavor Greece entrepreneurs are in rural areas in sectors with a competitive advantage, including agriculture and tourism, or in sectors undergoing broader restructuring, such as financial services.With Endeavor’s support the network’s 16 entrepreneurs are present in 48 countries and have attracted more than €25 million of investment, benefiting from Endeavor’s strategic partnership with National Bank of Greece. View a video recap of the team’s impact below.

The Board of Directors of Endeavor Greece is chaired by Michael D. Chandris, Chairman, Chandris Group; and vice-chaired by Mareva Grabowski, who is also the founder of the Greek affiliate. They are joined by Dr. John Coustas, President & CEO, Danaos Corporation; Marily Frangista, Managing Director, Franco Compania Naviera; Theodore M. Kyriakou, Group CEO, Antenna Group; Johanna Papadopoulou, President & Managing Director, E.J. Papadopoulos; Dimitri Papalexopoulos, Managing Director, Titan; Costantza Sbokou Constantakopoulou, Architect T.E.MES; Yiannis N. Stassinopoulos, Viohalco; Spyros Theodoropoulos, Managing Director, Chipita; Alexandros Tourkolias, CEO, National Bank of Greece and Melina Travlou, Chairman and CEO, Neptune Lines Shipping & Managing Enterprises.

Through a powerful network of 3,000 business leaders worldwide and strategic partners in Greece (National Bank of Greece, ΕΥ, Deloitte, DDB/Tribal, Microsoft)and globally, Endeavor supports entrepreneurs in three main areas: access to markets, access to debt and investment, strategic advice for financial management, HR, branding and communication.

Haris Makryniotis, Managing Director Endeavor Greece comments: “Two years after Endeavor Greece launch, we are optimistic about the future of high-impact entrepreneurship in Greece. In times (2012-2014) when the country’s GDP decreased by 15% and employment by 20%, Endeavor entrepreneurs in Greece have managed to increase revenues by 79% and jobs by 45%. Over the next three years, our target is to expand our network and help our network’s companies to create a total of 15,000 direct and indirect jobs.”

Learn more about Endeavor Greece’s impact by clicking here.

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40 High-Impact Entrepreneurs from 13 Countries Join Network at the 56th International Selection Panel in Miami; Endeavor Peru Welcomes First Entrepreneurs

MiamiISPMiami, FL – December 11, 2014 – Endeavor selected 40 high-impact entrepreneurs leading 22 companies in 13 countries at its 56th International Selection Panel.

Endeavor now supports 1,030 High-Impact Entrepreneurs from 651 companies across 22 countries. The first International Selection Panel (ISP) in Miami, FL since the affiliate was launched in 2013, the entrepreneurs were chosen at a panel held from December 8 – 10th.

The ISP is the conclusion of a rigorous multi-step selection process that is at the core of the Endeavor model. At the Miami ISP, top global business and industry leaders interviewed candidates about their businesses and potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs. This panel was a milestone for Endeavor as the organization officially marked the selection of its thousandth entrepreneur. In addition, Endeavor Peru, which launched in 2014, welcomed its first two entrepreneur companies – Disfruta and Pulso Salud – into the network.

“As we officially cross the mark of a thousand entrepreneurs selected, Endeavor’s network has become an unparalleled force of inspiration and support,” said Endeavor co-founder and CEO Linda Rottenberg. “It was especially amazing to see the passion, professionalism and early impact of Endeavor Miami’s network since its launch.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Since 1997, Endeavor Entrepreneurs have created nearly 400,000 jobs, generated and built sustainable growth models in their home countries, transformed local economies and become role models for future generations of leaders.

“This Endeavor event was a celebration of all of the amazing entrepreneurial talent around the world,” said Endeavor Miami Board Co-Chair Adriana Cisneros. “It was exciting to showcase the great progress of Endeavor Miami over the past year and the region’s high-impact potential.”

To celebrate the incoming entrepreneurs, Endeavor Miami hosted an event at the New World Center on the final night of the ISP,  bringing together all ISP participants, entrepreneurs, board members, mentors and top leaders from the Miami community. The event was generously sponsored by The Knight Foundation, Cisneros Group, Grupo Arcano, Univision and The Wolfington Companies.

Endeavor will host six International Selection Panels in 2015. Locations will be in Singapore; Santiago, Chile; Amman, Jordan; San Francisco, CA; Marrakech, Morroco; and Mexico City, Mexico.

Brief descriptions of the newly selected entrepreneurs and companies follow.

ARGENTINA

Entrepreneurs: Martin AñazcoDiego Meller

Company: Jampp

Jampp is amplifying the global mobile application market. Mobile app-driven businesses have a challenging time navigating the changing mobile marketing industry. Jampp helps these companies drive large volumes of high-quality mobile users to their apps in a simple and cost-effective way. The company manages the entire process of marketing apps, from planning to tracking and optimization.

BRAZIL

Entrepreneurs:  Eduardo Lima & Sivio Melo Jr

Company: Avantia

Avantia is the first security system in Brazil to package cutting-edge technologies from ten different global suppliers into one integrated platform. Avantia has focused its efforts in the city of Recife, one of the most dangerous cities in the country. Since installing its security system four years ago, the city has seen a reduction in the number of murders by 60.8%—spurring the company’s growth by a CAGR of 40% per year. With such success in Recife, the entrepreneurs are expanding Avantia’s scope into Sao Paolo and aim to be a global benchmark in the security market. Currently employing over 450 people, Avantia is not only keeping the city safe but also creating significant jobs for the community.

Entrepreneurs: Albert Deweik & Roy Nasser

Company: NeoAssist

NeoAssist provides peace of mind to companies and their customers through its automated customer service software. This cloud-based platform allows clients to automate personal responses to customer inquiries and easily track a customer’s social media engagement with the company, among other capabilities. This software allows companies to improve customer satisfaction by 35%, while also reducing the cost of customer service by 30% to 70%. According to the Reclame Aqui, the authoritative agency for customer service ranking in Brazil, three out of the top five Brazilian companies in customer service – and 15 of the top 30 – are NeoAssist clients.

Entrepreneurs: Mate Pencz & Florian Hagenbuch

Company: Printi

Printi makes it easy for small businesses in Brazil to design and procure printed promotional materials. It is the first in Brazil to serve SMEs and individuals with low-or-medium volume needs. The local printing market is highly fragmented and informal, characterized by a few major graphic printers who only work with high-volume clients, printer brokers that set arbitrary and prohibitive prices, and low-quality corner mom-and-pop shops. Printi’s convenient ecommerce site provides the most cost effective printing option in the market. Its commitment to quality and customer satisfaction has resulted in consistent satisfaction scores of over 65% across more than 35,000 clients.

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Dinner at Wynwood Kitchen after a day of interviews

CHILE

Entrepreneurs: Alan Schoihet, Jack Schoihet, Paul Kisiliuk & Uri Cohen

Company: NiuSushi

NiuSushi is an innovative restaurant chain that maximizes its number of satisfied customers by meticulously tracking every metric, from each store’s inventory of rice to the number of minutes it takes for each chef to make a sushi roll in real-time. Customers can choose from more than 80 different rolls of sushi, including fresh Patagonia salmon, octopus, ahi tuna, shrimp and vegetarian options. Every year, NiuSushi updates its menu with new combinations mined from customer preferences and global market studies. With eight locations in Santiago alone, NiuSushi now intends to expand throughout Chile and the region to bring its premium product to a larger audience.

Entrepreneur: Luis Ahumada

Company: Mediastream

Consumers in Latin America want on to access online content on demand, but local media providers still do things the old fashioned way – through TVs and radios. Chilean company Mediastream’s streaming solutions enable companies to keep up with consumer trends and broadcast content through any internet-connected device. Mediastream is a first mover in Latin America, and has built the channels responsible for 60% of content streamed online in Chile. The end-to-end solution for recorded and live-event streaming makes it easy for traditional content providers to build new digital offerings to reach, engage, and monetize audiences.

COLOMBIA

Entrepreneurs: Camilo Pérez, Juan Sebastián Correa & Ricardo Jaramillo

Company: Agrofuturo

Agrofuturo is finally enabling Colombia to compete with the other agricultural superpowers in Latin America. Despite the country’s rich terrain, only 14% of arable land is under cultivation due to violence that plagued rural areas, resulting in a lack of knowledge of how to properly invest and use fertile lands. Through information sourcing strategies, such as a world-class industry expo, and end-to-end agricultural services – including Project Design and Asset Management – Camilo Pérez, Juan Sebastián Correa and Ricardo Jaramillo have catalyzed the growth of the Agricultural sector in Colombia and made it more attractive for investors. Already, Agrofuturo has facilitated $200 million in industry transactions and cultivated 30,000 hectares of previously idle land—growing its revenues through events, project design, management, and fees.

EGYPT

Entrepreneur: Sherief Kesseba

Company: Nile Valley Growers

Nile Valley Growers produces and exports top-quality grapes and red onions to supermarkets across continental Europe and the UK. Egypt’s geographic location allows Nile Valley Growers to export produce when the Global supply is typically at its lowest – after the end of the Southern hemisphere’s season but before the Northern hemisphere’s crops ripen. The country’s close proximity to the European, African, and Asian markets enables produce to quickly reach supermarket shelves which equates to a longer shelf-life.

Entrepreneur: Dr. Hisham Haddara

Company: Si-ware Systems

Si-ware Systems is the first company to design semiconductors in Egypt and export to global clients in the USA, Japan, China, Russia, and France. The company designs the smallest and most cost-efficient spectrometer on the market and has plans to release a quartz-less oscillator by 2015. These semiconductor components are the foundation of electrical devices. Si-ware’s components are built to be easily adaptable to various micro-devices.

JORDAN

Entrepreneurs: Charif Mzayek, Alissar Mzayek & Ghassan Mzayek

Company: Alissar

Business is blooming for the Mzayek family, founders of Alissar, a leading flower producer and retailer in MENA. Transforming Jordan’s arid climate into an oasis, Alissar began as a retail outlet selling floral arrangements and indoor plants to the local market.  The company has set its eyes on the commercial flower and plant market in the GCC, maintaining its floriculture core and expanding its product lines to growing its own flowers and distributing planting material. Future growth will be driven by increasing organizational efficiencies and geographic expansion within the GCC and into Asia for Alissar’s hotel floral supply business and planting material wholesale vertical. Alissar will also see expansion through a new partnership with Aramex that connects growers and buyers online.

LEBANON

Entrepreneurs: Nehman Hachem & Samer Hachem

Company:  Hintrag

Hintrag’s powdered desserts and drinks offer inexpensive and convenient alternatives to traditionally packaged goods, yet leading global brands in most countries do not cater to local palates. Investing heavily in R&D since 2008, Hintrag provides customers in 24 countries with over 120 locally-specialized varieties of high-quality powdered drinks & desserts – from Lebanese dessert mixes to Asian dumpling mixes. One of two leading players in Lebanon’s powdered food industry, Hintrag successfully secured 30% of the local market in less than six years with strong presence in MENA. Over the next three years, Hintrag plans to nearly double its global footprint and expand its product offering to better serve the African market.

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ISP candidates are interviewed by global business leaders

MEXICO

Entrepreneurs: Alejandro Maza, Alberto Tawil & Adolfo Unanue

Company: Open Intelligence [OPI]

Government intelligence just got smarter. OPI offers a customizable, easy to use, cloud-based platform that analyzes and visualizes the relationship between thousands of variables. Aside from using their own data, clients can access the information in OPI’s database, which warehouses all of the non-classified data that previous clients have uploaded. If clients want to generate more topic-specific data, OPI’s associated mobile apps facilitate on the ground data collection. When the Ministry of Interior used Arquimedes to understand neighborhood crime rates, it analyzed the relationship between education, single parent families, and over one thousand other variables. Later that year, the ministry started redesigning its policy and resource allocation strategies based on OPI’s contributions. The impact of OPI’s software soon garnered national and international media attention.

Entrepreneurs: Manuel GonzalezRicardo Arteaga & Leonardo Randolph

Company: Agroin

Anyone who’s tried searching for some tejocote (a fruit native to Mexico) or other Mexican specialties in their local grocery market knows how hard it can be find. Finding frozen tejocote that also bursts with the same fresh, authentic taste is even harder. Agroin is changing that with its frozen produce and its ready-to-eat frozen Mexican delicacies, like cheese-stuffed peppers. Already a key supplier for La Huerta, Mexico’s largest frozen vegetable brand, Agroin now seeks to expand under its own distinct brands.

Entrepreneur: José Antonio Díaz

Company: Provive

Provive is reinvigorating foreclosed and abandoned Mexican communities with vida, or life. According Infonavit and Sociedad Hipotecaria Federal, more than two million low-income homes built in Mexico over the past ten years are suffering the effects of abandonment and foreclosure due to poor urban planning and the absence of organized social structures that strengthen communities. Provive’s business buying, refurbishing, and reselling abandoned homes and building community centers and programs regenerate the urban and social fabric of Mexico.

Entrepreneur: Edgar Cory Crespo

Company: COLOüRs

Mexican marketing and media agency COLOüRS helps companies brighten up their branding. COLOüRS starts with a simple truth: consumers find advertising boring. Mass-marketing might reach many, but they engage few. COLOüRS creates memorable experiences to connect brands and celebrities with consumers who share a passion for fashion, art, music, entertainment, and sports. In order to be the gateway between premium brands, top talent, and elite consumers, COLOüRS operates three vertically integrated subsidiaries specializing in marketing and talent management. One of these is CMX Talent, the first formal talent management agency in Mexico.  COLOüRS produces 150 events and festivals annually, including the biannual Mercedes-Benz Fashion Week Mexico and the Coca-Cola Fifa World Cup Trophy Tour.

MIAMI

Entrepreneur: Anabel Perez

Company: NovoPayment

The payments ecosystem in Latin America is faced with anemic technologies that are unable to meet the demands of an ever-changing payments landscape. This imbalance leads to an underdeveloped prepaid value chain, where banks are unable to reach lower income “unbanked” customers, enterprises lack a system to incentivize their employees, and retailers are forced to rely on costly cash payments. NovoPayment helps companies reach a broader base of customers and increase their revenues by providing them with the infrastructure to build their own prepaid and mobile wallet programs. The market for cash conversion to digital means, such as prepaid account services, is estimated to reach US$16 billion in 2015. NovoPayment facilitates 70 million transactions annually through a portfolio of 9,000 clients that spans Fortune 500 companies and Latino micro-businesses.

Entrepreneur: Brian Brackeen

Company: Kairos

Kairos’ facial recognition API captures the depths and contours of a 2D facial image through 85 points of interest and renders the image as a 3D model to ensure 99% identification accuracy. Even if people change their appearance – by growing a beard or putting on glasses – Kairo’s software will recognize them. The software’s pricing model allows clients to use it for free (for up to 50,000 identifications), and scale the service to meet their specific use requirements and budget.

PERU

Entrepreneurs: Azucena Gutierrez & Eduardo Gutierrez

Company: Disfruta

The juice industry in Peru is ripe for innovation. Peru leads Latin America in its vast diversity of exotic fruits, and although juice has always been a staple of the Peruvian diet, production has remained informal, with most juice makers blending ingredients from small roadside carts. Disfruta is modernizing the juice industry in Peru by pioneering a chain of juice bars designed to appeal to sophisticated, health-conscious consumers. Peruvians drink one million liters of juice every year, with juice consumption skyrocketing at annual growth rates of 43%: two times the rate of their Latin American counterparts. Over the course of six years, Disfruta has taken advantage of this opportunity to launch 30 locations and aims to double its revenues by 2017.

Entrepreneurs: Alvaro Diaz & Martin Olano

Company: Pulso Salud

Pulso Salud is breathing new life into the healthcare industry. Occupational health laws are a growing trend in Latin America that are mandating employers to protect their workers from hazards to safety and health, such as exposure to toxic chemicals, excessive noise levels, or unsanitary conditions. In Peru, these legal mandates impose a particular challenge because of the inadequate state of the healthcare infrastructure. Pulso Salud tackles this healthcare deficit by providing medical exams to workers that ensure companies are in compliance with legal requirements. With four million individuals working in the formal economy, the market for Pulso Salud’s services is $400 million in Peru alone. Having already established two medical centers in Arequipa and one in Lima, Pulso Salud seeks to use its existing traction to expand its footprint domestically.

SPAIN

Entrepreneur: Sira Perez de la Coba

Company: Shot & Shop

Shot & Shop founder and CEO Sira Pérez de la Coba has invented the first image recognition and retrieval technology able to identify accurate visual matches in real-time, without having previously seen the image, pattern, or verbal tag. Shot & Shop’s proprietary technology has a host of commercial applications. In its first application, retail brands and digital advertisers are using Shot & Shop to better understand consumer preferences and improve the relevance and efficacy of targeted marketing, which drives online sales. The technology is especially equipped for real-time digital ad bidding, and is the only visual search technology able to make real-time digital ad recommendations based on a publisher’s visual content.

TURKEY

Entrepreneur: Cenk Soyak

Company: AloTech

For AloTech customers, the days of the phone operator are numbered. When Cenk Soyak founded the company in Turkey, local contact center solutions were extremely expensive and international players had not yet entered the market. Cenk built AloTech not only as a local and affordable contact center solution but also one that was technologically forward thinking, providing its services via the cloud. AloTech offers cloud-based and “pay-as-you-go” call center solutions, as opposed to traditional, on-premise, high cap-ex call center solutions.  By eliminating hardware, software, and maintenance costs and offering flexibility and ease of use, AloTech offers significant advantages over its competitors.

URUGUAY

Entrepreneur: Rafael Atijas

Company: Loog Guitars

Loog Guitars designs and sells three-string guitars for children that simplify the playing process without losing the quality experience. Loog’s customers assemble their own customized guitars. The experience of building the guitar instills in the child a sense of accomplishment and ownership, while allowing parents to share their appreciation for music and create memories with their kids.

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Endeavor Miami’s final night celebration featured top members of the network

Chile's DBS Beauty Store Plans Acquisition by National Pharmaceuticals Brand SalcoBrand

Chile’s DBS Beauty Store, founded by entrepreneur Dominque Rosenberg, recently announced plans to be acquired by Chilean pharmaceuticals giant SalcoBrand. DBS currently operates over 30 stores throughout Chile in addition to a variety of other distribution channels. Formed in 2006, DBS is dedicated to the distribution of beauty products for professional and consumer use, representing over 35 international brands.

SalcoBrand, which owns national brands like PreUnic, MakeUp, Medcell, Medipharm and Pharma Benefits, has a portfolio of over 500 stores in Chile. The acquisition, according to SalcoBrand, complements the range of beauty and health products featured in the firm‘s premium segments. DBS will continue to operate autonomously under the brand and the executive team will continue to lead management. Both parties are currently awaiting approval from the National Economic Prosecutor (FNE) to validate the acquisition.

Selected as an Endeavor Entrepreneur 2011, Dominique and DBS have created more than 400 jobs and reports sales in the millions. Tired of shuttling around Santiago to buy assorted brands of mascara, moisturizers and the like, Dominique founded DBS with the vision to reinvent the consumer beauty experience in Chile. DBS has introduced a convenient and fun shopping experience that includes both beauty products imported from around the world and private label products. Endeavor has provided Dominique with a custom advisory board of industry experts and mentors who have helped guide the team on growth, acquisition and product development strategies.

Read more about the news in Chilean media by clicking here.

 

December 2014 Newsletter

DecNewsTo view Endeavor’s December newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

2014 Global Entrepreneurship Summit in Morocco Spotlights the Endeavor Network

GES2014The 5th Annual Global Entrepreneurship Summit took place in Marrakech, Morocco this year, serving as one of the world’s largest celebrations of entrepreneurs who bring ideas to life by creating enterprises, driving economic growth and expanding human welfare. The event attracted over 3,000 participants to Morocco, including top entrepreneurs, high-level government officials, corporate leaders, students, and innovators from all over the world. The event was supported by Endeavor Morocco and featured key members of the local network.

As a knowledge partner of the GES, Endeavor Morocco produced a learning track on “Scale-Up Experiences” during which high-impact entrepreneurs shared stories of the challenges they faced while scaling their companies and multiplying their impact. Rhett Morris, Director of Endeavor Insight, also participated in a plenary session on “transforming the speed and scale of entrepreneurship” and presented the preliminary results of a research initiative on Casablanca’s entrepreneurship ecosystem. Watch Rhett’s address below.

Endeavor Entrepreneur Youssef Chaqor, founder of Kilimanjaro, had the opportunity to meet and participate in a roundtable discussion with U.S. Vice President Joe Biden. Youssef was cited by the U.S. Administrator for small businesses, Maria Contreras-Sweet, during the GES closing speech and was highlighted as an inspiring high-impact entrepreneur who is helping to support the next generation of entrepreneurs.

“Youssef pioneered a method to transform waste into energy by recycling used cooking oil into biofuel that reduces carbon emission by 70% compared to petroleum,” said Contreras-Sweet in her speech. “It’s an amazing advancement in science, but that’s not where Youssef’s story ends. Youssef is now creating a network of young entrepreneurs in charge of collecting oil from households to help improve the air that we breath. By 2020, Youssef hopes to create thousands of new jobs through this collection program. One entrepreneurs’ work holds the potential to create thousands of micro-entrepreneurs. You don’t have to be a brilliant scientist to change the world. We all have a role to play.” Watch the full speech below.

Endeavor Morocco was also present in the Innovation Village, where the team organized a booth to present the organization’s model and impact both in Morocco and on a global scale.

View video recaps of the entire Summit by clicking here.

Endeavor Celebrates Global Entrepreneurship Week Around the World; Focuses on the Impact of Scale-Ups

GEW LOGO


Global Entrepreneurship Week (GEW) 2014 took place from November 17th – 23rd with a number of activities in celebration of the innovators and leaders that are transforming economies and promoting ecosystems of entrepreneurship worldwide. This year, more than a dozen Endeavor offices around the world hosted events during the week, joining 150 countries and more than 25,000 global activities and competitions. Each November, GEW works with supporting organizations to foster opportunities for collaboration, discussion and inspiration.

On social media, Endeavor Twitter handles globally participated in a campaign focused on the impact of scale-ups and their impact on economies and job creation. This campaign took the form of visuals highlighting the numbers of jobs created by Endeavor Entrepreneurs in all 20 of the markets the organization operates in, from Argentina to South Africa. In addition, Endeavor hosted a Twitter conversation with top entrepreneurship influencers focused on the #ScaleUpImpact of high-growth entrepreneurial ventures, inspired by The Global Scale Up Declaration. View highlights from the chat by clicking here.

 

Below are highlights of Endeavor’s GEW activities in a selection of countries where the organization has an established or growing presence.

Argentina

Endeavor Argentina organized an Experiencia Endeavor event in the city of Mendoza to highlight the development of the local entrepreneurial ecosystem, promoting Endeavor’s mission and entrepreneurs’ success stories. Endeavor Argentina also announced the expansion of its offices to Patagonia and Mendoza, both of which will be operating by 2015.

Brazil

In addition to leading the movement in Brazil by mobilizing partners, defining the national campaign and organizing key activities, Endeavor Brazil hosted  eight official “opening” events across its local offices. All of these events explored the theme of this year’s national campaign under the brand “Don’t Let Any Obstacle Be Greater Than Your Dream”, which brought together experts and entrepreneurs to discuss the challenges facing local ecosystems. Endeavor Brazil also participated in events organized by its partners, including a discussion on legislation related to entrepreneurial education hosted by the Chamber of Deputies and a competition for the best education initiatives conceived by the GEW National Board.

Brazil

Endeavor Brazil MD Juliano Seabra spoke at a national GEW event

Chile

Endeavor Chile promoted and hosted several large scale events across the country, including Endeavor Experiencia Patagonia which was one of the largest national events put on during GEW. Experiencias are high-impact events hosted by Latin American offices which seek to contribute to the development of local entrepreneurial ecosystems through workshops, presentations, discussions and more. Startup Day Chile closed GEW week with support from Endeavor Chile. Startup Day  is an event series of lectures and conferences for entrepreneurs with the goal of motivating and inspiring the 300 participants. Several GEW Chile program events took place all around the country, including a celebration of Women’s Entrepreneurship Day – it was the the first “Girls in Tech” event in Viña del Mar that aimed to kickstart a local community of women in technology.

Colombia

Endeavor Colombia was a major player in its local GEW events, helping to support a marked increase in participation nationwide – nearly 100,000 people attended Colombian events this year compared to only 2,200 in 2012. More than 420 activities were held throughout the country and Colombia stood out for its proactive and innovative initiatives. In Latin America, Colombia was recognized for organizing the most events and placed fifth globally behind the UK, the U.S., Algeria and Canada.

Egypt

Endeavor Egypt worked closely with the U.S. Middle East Partnership Initiative (MEPI) and the Embassy of the United States in Cairo to organize a half-day event titled “Entrepreneurship: From Start Up to Scale Up”. The event took place on November 19th during Women’s Entrepreneurship Day and all the talks and presentations were given by influential women in the entrepreneurship ecosystem. Endeavor Egypt Managing Director Heba Gamal gave the keynote speech, addressing Endeavor’s role in the ecosystem as well as the Endeavor multiplier effect.

Jordan

For the fourth year, Endeavor Jordan partnered with INJAZ, a non-profit youth organization, to host an educational event for INJAZ students during GEW. This year, Endeavor Entrepreneur company The Online Project led a two-hour workshop on “Social Media for Start-Ups: How to Accelerate Your Business”. The workshop was held at INJAZ’s headquarters and attended by students from the Company Start-Up Program (part of INJAZ’s Entrepreneurship and Employment unit). Participants received a comprehensive introduction on the value of social media for marketing their businesses, as well as tips and advice on effectively promoting new products and services online.

Jordan

Endeavor Jordan hosted a workshop focused on social media

Lebanon

As part of GEW in Lebanon, dozens of SMEs and industry leaders gathered on November 19th at Beirut Digital District (BDD) for IGNITE, a first-of-its-kind event where entrepreneurs pitched their products and discussed commercial deals with C-suite representatives from large corporations. Organized by Endeavor Lebanon and Beirut Digital District, the event united suppliers and buyers from the best Lebanese startups and leading companies in the real estate and finance sectors. Through a series of 15-minute discussions with each of the participating corporations, every attending entrepreneur got the chance to showcase their products and hear honest expert feedback, in a speed dating format. The entrepreneurs’ one-on-one meetings with decision makers and industry veterans offered much-needed market feedback on the proposed products. The speed dating sessions were followed by a networking event.

Peru

Endeavor Peru showed its support for various organizations that propel the regional ecosystem by being a part of a number of GEW events. The team was also involved in a number of conferences about entrepreneurship, including Start-Up APEC, an event that promotes innovative businesses and entrepreneurship in Asian-Pacific economies. Endeavor Peru was also represented at an entrepreneurship conference in Universidad San Ignacio de Loyol and as a judge in a business project competition at IPAE School of Business.

Kingdom of Saudi Arabia

Endeavor KSA participated in a number of GEW activities across the country. For the first time in Gizan, Endeavor KSA joined the First Innovation and Entrepreneurship Forum, which was attended by students, entrepreneurs and entrepreneurship-supporting organizations. Endeavor KSA Managing Director Rakan Al Eidi and Endeavor KSA entrepreneur Loai Neseem, founder of Lomar, got on stage and shared their stories and the impact of Endeavor to inspire youth in the region. The Asharqia Young Businessmen Council in the eastern side of the Kingdom organized its GEW event at the Asharqia Chamber hosting Rakan and Naif Alqahtani, LSS founder, to discuss the impact of Endeavor. Outside of the country, entrepreneur Lateefa Alwaalan, founder of Yatooq, joined the fifth Global Entrepreneurship Summit in Morocco, which highlighted the impact of technology on modern entrepreneurship. Lateefa served on a panel about promoting women’s entrepreneurship along with other recognized female entrepreneurs.

KSA

The Global Entrepreneurship Summit in Morocco featured entrepreneurs from Endeavor KSA

South Africa

Endeavor South Africa hosted one GEW event at the Johannesburg office. The guest speaker was Jenali Skuse, Employer Branding Consultant at Universum, who addressed a gathering of over a dozen people in this closed event. Skuse highlighted the importance of attracting and retaining the best talent as a key determinant of business success. She also delivered an informative and inspirational session on the basics of employer branding, talent attraction and retention. This was followed by a breakfast and an opportunity to network. In addition, Endeavor South Africa supported over 120 regional activities.

Spain

Endeavor Spain Managing Director Adrian Garcia-Aranyos spoke at a GEW event with thought leaders like Jerome Engel and Pedro Nueno, where the board of GEW gave an elevator pitch on the challenges of entrepreneurship. Endeavor Spain also took part in an ANDE (Aspen Institute) event on entrepreneurship in the Mediterranean region.

Turkey

Endeavor Turkey’s reach during GEW has expanded to 252 events with 239 partners in 48 cities. The office created a movie screening roadshow for the Alibaba.com movie ‘Crocodile in the Yangtze’, with the VIP attendance of the movie director and former Alibaba VP Porter Erisman. It was screened in seven universities in two cities (Istanbul & Ankara) and  at two VIP events, one of which was an annual signature event titled the Good Initiative Summit. Endeavor Turkey also partnered with the Istanbul Stock Exchange for the third year for the opening ceremony of GEW Turkey. They formally launched their new Private Market Platform in this kickoff event. With more than 200 attendees, Endeavor Turkey Managing Director Didem Altop curated an investors panel, where Turkey’s investment environment was spotlighted.

Uruguay

Endeavor Uruguay participated in 21 events hosted by 15 organizations across the country with over 4,300 attendees. The office also hosted an Experiencia event with over 200 participants focused on the importance of mentorship for entrepreneurs. A “Mas Emprendedoras” seminar convened female entrepreneurs from across the region, bringing together over 350 women to listen to the stories of key female Endeavor Entrepreneurs in the network. Endeavor Uruguay also supported a number of competitions, incubators, presentations and events providing advice to entrepreneurs and forums for discussion.

Uruguay

Endeavor Uruguay hosted an event for female entrepreneurs

South Africa's Silulo Ulutho Technologies Honored by Junior Chamber International for Entrepreneurial Accomplishment

siluloSouth African entrepreneur Luvuyo Rani, who co-founded Silulo Ulutho Technologies with his brother Lonwabo Rani, was honored by Junior Chamber International (JCI) as a top “Ten Outstanding Young Persons of the World”  in the business, economic and entrepreneurial accomplishment sector. Silulo Ulutho is a leading regional IT solutions firm that encompasses computer training courses, internet cafés, business centers and IT retail and repair services.

Luvuyo represented South Africa at the JCI World Congress in November in Leipzig, Germany as one of only two Africans nominated for the award. The JCI Ten Outstanding Young Persons of the World program honors 10 outstanding young people under the age of 40 each year. These individuals exemplify the spirit of the JCI mission to serve their communities and provide extraordinary service to their regions. Whether through service, innovation, determination or revolutionary thinking, they create positive impact on a local and global level. These ten exceptional individuals were honored at the 2014 JCI Awards Ceremony on November 28th during the World Congress event.

Growing up in a small town in South Africa, Luvuyo received an education in technical skills and business administration. After teaching accounting and entrepreneurship at the high school level, Rani decided to change his career path and focus on increasing access to technology in his hometown. He started by opening an Internet café that also offered computer training and IT support for local citizens. Expanding his services from the Internet café to a full-scale business, Rani and his brother started Silulo Ulutho, selling refurbished computers, providing IT training and writing business profiles and plans for local businesses. Their work addresses the IT skills gap faced in their community with a specific goal to reduce unemployment by creating sustainable job opportunities.

Selected in 2011, Silulo continues to expand with the help of Endeavor’s network. The Rani brothers were set up with an Advisory Board and were provided  introductions to local business leaders with expertise in everything from IT services to restaurant management. Endeavor also connected Luvuyo and Lonwabo to mentors from top partners like EY, which provided the team with strategic financial guidance.

Learn more about the JCI awards by clicking here.

Chile's Drillco Tools Visits Endeavor South Africa; Explores Regional Expansion

drillco toolsChilean entrepreneur company Drillco Tools, founded by Rolando Carmona, recently sent Managing Director Jorge Correa to visit Johannesburg, South Africa for a mining-focused exposition. During his visit, the Endeavor South Africa office was able to assist Jorge with arranging meetings with local business leaders as the company explores the potential for a South African expansion. Demonstrating the reach and impact of Endeavor, Drillco was able to leverage the network’s resources on a global scale.

While Jorge’s initial visit in November was only for a week, team members from Endeavor South Africa were able to help him secure meetings and introductions with industry players both in entrepreneur and mentor networks. As a result, he intends to return again for follow-up meetings as Drillco explores the viability of an expansion into the region.

Among other events throughout Jorge’s visit, Endeavor was able to help arrange:

– Interviews with candidates for a Business Development manager position, which was facilitated and administered by Endeavor Entrepreneur company CallForce Driect, founded by Candice Roberts

– A partnership with a network member to facilitate business registration in South Africa on behalf of Drillco

– A partnership with a network member to assist in the sourcing of office space for Drillco

– A meeting with the procurement manager of De Beers Group of Companies

Since joining the Endeavor network in 2003,  Rolando has served as both a panelist and mentor for the Endeavor network, giving back to the local ecosystem by supporting the next generation of Endeavor Entrepreneurs. Drillco has also benefited from a number of network connections with business leaders and other entrepreneur companies, as well as Endeavor talent initiatives including the eMBA, G-Lab and EY Vantage programs.

Watch below for a video about Jorge’s visit to South Africa:

Colombia's Ecoflora Receives Investment from Impact Investment Firm EcoEnterprises Fund

Colombia’s Ecoflora, founded by Endeavor Entrepreneur LogoEcoflora2Nicolás Cock Duque, recently received an investment from impact investment firm EcoEnterprises Fund. The investment represents the first investment of the Fund in a Colombian company. A biopesticides company based in Medellin, Ecoflora is an innovative business that focuses on developing natural solutions for integrated and sustainable pest and disease management.

With products derived from plants and the rich biological environment in Colombia, the company has successfully created several lines of plant-based biopesticides for both regional and global markets. Ecoflora has transformed the region’s industry and demonstrated Colombia’s potential for high-impact entrepreneurial growth. With over 15 products and 30 applications developed over the past decade, the company is a testament to the potential of emerging markets to drive innovation, having already filed for nearly a dozen patents on an international scale.

“There has been a rising demand in consumer preferences for more natural, less toxic sustainable agricultural products. Growers are feeling increasing pressure to reduce residues downstream, from food processors to the largest food retailers. The result has been that biological solutions have gained more market traction and share,” said John McKenna, Senior Investment Officer for EcoEnterprises Fund. “The efficacy, biodegradability and non-toxicity of Ecoflora’s products offer an environmentally sustainable and holistic approach to crop management solutions compared with traditional methods. This has significant positive environmental and social impact benefits.”

Biopesticides currently represent only 4% of the $50b global pesticide market, yet demand for the products are growing five times faster than the more common synthetic chemical pesticides. The impetus behind this trajectory has been rising competition for new and improved products and consumer trends for natural, less toxic sustainable agricultural products. Biopesticides are derived from natural materials as animals, plants, bacteria, and certain minerals.

Ecoflora currently sells its products in Colombia, Ecuador, Peru and Costa Rica. The Company recently received EPA approval in the United States for one of its core products and is expecting additional regulatory approvals in other countries within the next 24 months. Since being selected as an Endeavor Entrepreneur in  2007, Nicolás has been an active network member, receiving  local publicity support and mentorship while also participating in the eMBA and G-Lab programs, the 2013 Endeavor Summit, and more.

Endeavor Investor Network’s Mexico Venture Forum Gathers 140+ Investors and Entrepreneurs in Monterrey

Investor network LogoOn November 19th and 20th, Endeavor Global and Endeavor Mexico hosted the final Investor Network Event of 2014 in Monterrey, Mexico. The event gathered leading US and Mexican venture investors as well as Endeavor Entrepreneurs and candidate companies from Mexico, Argentina, Colombia, Peru. In total, over 140 participants attended the two day event.

The event kicked off with a keynote presentation by Manuel J. Molano from the Mexican Institute for Competitiveness (IMCO), who gave an overview of Mexico’s macroeconomic outlook over the next few years.  This was followed by an “investor-only” roundtable discussion, featuring Hernan Fernandez (Angel Ventures Mexico) & Rogelio de Los Santos (Alta Ventures), focused on the challenges and opportunities to building a sustainable venture ecosystem in Mexico. Simultaneous to this session, Endeavor Mentor David Frazee led a workshop for Endeavor Entrepreneurs on best practices in raising venture capital.

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Participants of the 2014 Mexico Venture Forum in Monterrey

A subsequent panel moderated by Kristen Durham (Silicon Valley Bank) highlighted the role of corporate venture groups and corporate acquirers in Mexico’s ecosystem.  The session featured representatives from leading corporates active in Mexico including Jose Antonio Fernandez (FEMSA), Rodrigo Gutierrez (Payback Mexico/American Express), and John Hyland (Assured Labor/Monster.com).  During the afternoon, over 240 formal speed-networking connections were made during two rounds of one-on-one networking between Endeavor Entrepreneurs and Investor Network Members.

Day two of the event brought together key players from the broader Mexican ecosystem including local family offices and accelerator companies. During the breakfast sessions, global investors had an opportunity to connect with local venture capital firms and family offices while Endeavor Entrepreneurs had a chance to network with accelerator companies from Monterrey.

The morning consisted of two sessions. In the first, global investors David Frazee (Richmond Global), Martin Gedalin (Lumia Capital) & Nazar Yasin (Rise Capital) gave “TED-style” talks highlighting their firms’ approach toward investing and why they want to do business in Mexico. In the session that followed, Arturo Galvan (Naranya), Toby Clarence-Smith (Petsy), Manolo Diaz (Yogome) and Antonio Diaz (Provive) took to the stage to discuss the new innovations and opportunities present in their verticals.

The afternoon consisted of seven different breakout sessions (organized by vertical) that investors could choose to attend depending on their interest. Each session featured 6-7 entrepreneurs from a specific vertical (e.g. mobile, platforms, ed-tech/health-tech, traditional industries, social impact, etc.).

View the event booklet here for a list of all of the entrepreneurs and investors in attendance and learn more about the Endeavor Investor Network by clicking here.

Endeavor Hosts Retail, Food & Beverage Tour for Endeavor Entrepreneurs, Features Presentations from Top Industry Brands

retailfnbEndeavor hosted a Retail, Food & Beverage Industry Tour for select entrepreneurs in its network, providing them with a rare look into the operations of  some top global brands in each industry. The two-day tour included a mix of presentations, networking events and site visits, where executives and experts from a variety of fields provided insights into their businesses.

The tour kicked off at the Endeavor Global offices in New York City with presentations from executives from Goode Partners, Red Antler, Silas Capital, General Atlantic, and Barclays. The morning sessions focused on topics ranging from financing growth to branding to startup strategies. Amir Fayo, an NYC-based Brand Architect, also led an exciting morning session on Emotional Branding for the entrepreneurs. Next, the tour was divided into two segments, one aimed at Retail and the other at Food & Beverage. The Retail track brought entrepreneurs on a tour with Design Within Reach, a luxury home goods and furniture brand, which highlighted the company’s digital transformation. They then moved on to a site visit to e-commerce giant Gilt, which discussed recruitment, customer service and more with the participants. The Food & Beverage track featured presentations from OLO, a digital food ordering provider, and a site visit to Craft Restaurants Group. The visit to Craft allowed participants to learn about expansion strategies and tour the company’s facilities.

The final day of the tour brought all of the participants on a walk through of the rapidly growing retail chain Eataly, which focuses on food and cooking goods. Participants then split into Retail and Food & Beverage tracks again, with the Retail segment meeting with Cipriani Accessories and moving on to visit the offices of international luxury brand Tory Burch, who spoke to the group in-person on growing a billion-dollar business. The Food & Beverage segment met with representatives from NYC-based fast-casual restaurant chain Dig Inn and discussed customer loyalty strategies with FanXchange, an online re-seller of event tickets.

See social media highlights from the tour below.

MercadoLibre's Marcos Galperin Joins Board of Argentina Entrepreneur Company Onapsis

OnapsisMercadoLibre CEO Marcos Galperin, a board member of Endeavor Argentina and one of Endeavor’s first entrepreneurs, joined the Board of Directors of Onapsis. Founded by Endeavor Entrepreneurs Mariano Nuñez and Victor Montero, Onapsis is a leading business security solutions provider to top technology firms like SAP and Oracle. This news demonstrates the power of Endeavor’s model and the importance of entrepreneurs who give back to their local ecosystems.

Onapsis gives organizations the adaptive advantage to succeed in securing business-critical applications by combining technology, research and analytics. Onapsis enables every security and compliance team an adaptive approach to focus on the factors that matter most to their business– critical applications that house vital data and run business processes including SAP Business Suite, SAP HANA and SAP Mobile deployments.

“I understand, first-hand, the importance of securing complex and critical business systems,” said Mr. Galperin. “The data and information that is held within applications such as enterprise resource planning, supply chain and business intelligence is critical to the running of a large business. With the rise of security breaches, enterprises are quickly realizing the importance of securing these critical applications. Onapsis has a strong vision, talented and committed entrepreneurs and founders, and a relevant set of solutions that combine technology and expert knowledge. It was a sound investment, and I am excited to join the Board of Directors to further support the rapid growth of the business.”

Selected in 1999 and most recognized for co-founding MercadoLibre, the largest e-commerce ecosystem in Latin America, Galperin is considered to be a top internet entrepreneur. MercadoLibre has over 3,000 employees, operates in 13 countries and delivers a robust online trading environment with over 80 million transactions conducted in the last 12 months. The company and its three founders have become Endeavor success stories and champions of the organization and its entrepreneurs worldwide. Prior to being appointed, Galperin had also invested in Onapsis.

“Mr. Galperin’s vast experience in building and maintaining a robust business- with technology that has scaled to 13 countries and to over 110 million registered users – is an incredible asset to Onapsis,” said Mariano Nuñez, CEO of Onapsis. “We look forward to benefiting from his insight and counsel. He has been a supporter of Onapsis, our mission and the need to secure business applications since the beginning. Having him join our Board is a great endorsement to our team and the execution of our mission.”

Since joining the Endeavor network in 2011, Mariano and Victor have received tailored mentorship and strategic advising through Endeavor’s global network. In addition, the team has made a number of investor connections with the help of the Endeavor Investor Network while regularly participating in global tours and conferences.

Read more about the news in Onapsis’ press release by clicking here.

Turkey's Yemeksepeti Expands to Eight Countries with Majority Acquisition of Jordan's ifood.jo

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Yemeksepeti, a leading Turkish food ordering website founded by Endeavor Entrepreneurs Nevzat Aydın, Melih Ödemiş and Cem Nufusi , has announced its acquisition of a majority stake in the Jordanian site ifood.jo. The company has expanded its operations to eight countries with this latest acquisition as it looks to become the top service of its kind in the MENA region.

The Jordanian brand becomes the fourth brand to join Yemeksepeti’s expanding portfolio, alongside Yemeksepeti.com, foodonclick.com, and clickdelivery.gr. In total Yemeksepeti serves over 3.5 million registered users and takes over 100,000 orders per day. ifood.jo, which launched in January 2012, is a market leader in Jordan, serving 25,000 registered users per year and an average of 500 orders per day. It is partnered with over 200 restaurants in Jordan, according to the company’s website.

“Jordan’s startup ecosystem is in its blossom period,” said Yemeksepeti’s CEO Nevzat Aydin. “It has a young and early adapter demographic, mindful entrepreneurs who want to make a difference, and local and international investors who are keen on the regional opportunities.”

It is just over a year since Yemeksepeti’s expansion into Saudi Arabia and Lebanon with FoodOnClick. Before that, in 2012, it was the injection of a funding round from New York’s General Atlantic that helped them launch into the MENA region.

In order to continue to grow their reach, which also extends to Russia, Aydin said in a statement that “understanding the dynamics of the emerging markets is major to our motivational and tactical force. We believe that with this know-how, we will succeed also in Jordan and help ifood.jo to reach its milestones and potential. Meanwhile, we plan to continue our global expansion with similar investments.”

Selected by Endeavor in 2007, Yemeksepeti’s founders have received strategic guidance from and introductions to Endeavor mentors, and have attended and participated in a number of Endeavor events around the world. Endeavor Catalyst also participated in Yemeksepeti’s 2012 $44 million funding round, led by General Atlantic Partners.

Read more about the acquisition news in Wamda by clicking here.

2014 Endeavor Impact Report

The 2013-2014 Endeavor Global Impact Report is now available. This year’s report features updated profiles on the global offices, vibrant new visuals of Endeavor’s impact, and highlights of key milestones from the past year.

View the digital report by clicking HERE and learn more about the ways in which high-impact entrepreneurship is transforming growth markets, supporting local economies and innovating for future generations.

A special thanks to Open for their great design work on this year’s report.

 

 

 

Endeavor Insight and the Partnership for New York City Release “The Power of Entrepreneur Networks” Study of Nearly 700 Industry Trailblazers

Endeavor, with support from The Partnership for New York City and Barclays, released a report titled, “The Power of Entrepreneur Networks: How New York City Became the Role Model for Other Urban Tech Hubs” which identifies how founders who reinvest their success into others have greatly accelerated New York City’s tech growth.

“Endeavor has produced the first comprehensive analysis of the entrepreneurial ecosystem that has built Silicon Alley into a global center of innovation,” stated Kathryn Wylde, President & CEO of the Partnership for New York City.

“As companies become more successful, their founders are more likely to mentor, angel invest and become serial entrepreneurs. Companies that are connected to a top-performing company are twice as likely to become top-performers themselves,” said Fernando Fabre, President of Endeavor. “It’s a worldwide pattern that is an important building block for entrepreneurship.”

Over the past year, Endeavor conducted nearly 700 interviews with NYC tech entrepreneurs, combing through combined data from AngelList, Crunchbase and LinkedIn, with the aim of identifying lessons that leaders in other cities could use to support the growth of their own tech sectors. The study indicates that within the City’s tech sector, between 2003 and 2013: more than 2,200 companies were founded; there were 336 IPOs and acquisitions; $14.2 billion in investments and $18.1 billion in startup exits.

Key takeaways:

– New York City is the best role model for other urban tech hubs. It is the second largest tech hub in the world by most measures and the fastest growing over the last decade.
– Data from over 2,500 companies show that top-performing tech entrepreneurs are more likely than their peers to start new companies, encourage their employees to do the same, mentor, angel invest and inspire other entrepreneurs.
– Data from New York City’s tech sector debunks several common startup myths. For instance, the average NYC tech founder is thirty one years old and is more likely to have studied a non-technical subject in college than a technical one.

Highlights:

– Between 2003 and 2013, the New York City tech sector has grown twice as fast in terms of dollars invested as Silicon Valley’s, with its companies raising more than $3.1 billion in funding in 2013.
– Between 2010 and 2013, the number of New York City tech employees grew by more than 26% annually. Based on 2013 tax rates and a $100,000 average salary, the City could add nearly $160 million annually in new tech employee income tax receipts by 2019 and over $500 million by 2024.
– Tech companies led by local entrepreneurs directly employ 53,000 people, over 1% of New York City’s workforce.
– Venture funding for tech companies in New York City increased by 240% from 2003 to 2013, and more than 85% of the sector’s current companies and 86% of its current jobs were created during this time.

The report has also received media coverage in outlets including The AtlanticAM New York, NY Business Journal, The Huffington Post and Crain’s. Read the full report at www.nyctechmap.com and below.

 

2014 Endeavor Gala Honoring The Abraaj Group’s Arif M. Naqvi Brings Together 400+ Members of the Global Network

 

On Friday, November 7, 2014, the Endeavor Gala brought together over 400 entrepreneurs, business leaders, Endeavor Board members and supporters in New York City to celebrate the power of Endeavor’s network. As Endeavor’s only annual fundraising event, the Gala is held in support of the organization’s mission to select, support and scale high-impact entrepreneurs in markets worldwide.

This year, the number of attendees included 18 Endeavor Entrepreneurs from seven countries and over 40 Endeavor board members from 15 countries, representing a total of 16 Endeavor affiliates. The event highlighted the power of Endeavor to transform global economies, with a particular focus on the connections made between cities, countries and regions. Endeavor now operates in 22 markets around the world with a goal of expanding to 25 countries by 2015.

The Gala honored Arif M. Naqvi  – founder and Group Chief Executive of The Abraaj Group – as the 2014 High-Impact Entrepreneur of the Year. A visionary entrepreneur, Mr. Naqvi founded The Abraaj Group in 2002. The firm has since emerged as a leading investor in growth markets with US$ 7.5 billion in assets under management. Employing over 300 people, the Group has 25 country offices spread across six regional hubs in Dubai, Istanbul, Mexico City, Mumbai, Nairobi and Singapore. Mr. Naqvi and The Abraaj Group have developed an important partnership with Endeavor over the past four years, supporting dozens of entrepreneurs and playing a critical role in Endeavor’s affiliate expansion throughout the Middle East, North Africa and Southeast Asia.

During the event, Endeavor co-founder and CEO Linda Rottenberg and Global Board Chairman Edgar Bronfman, Jr. addressed the growth of the organization over the past 17 years and the high-impact entrepreneurs that have become inspirations across the network, from Argentina to Saudi Arabia. This year’s gala video featured one such success story, following the journey of Argentine entrepreneur company Globant from the team’s selection in 2005 to their IPO on the NYSE in 2014.

“The road is long, lonely and full of potholes,” Rottenberg said in her address. “Endeavor is where dreamers and do-ers come to get unstuck.”

Mr. Naqvi then took the stage to discuss the importance of supporting leaders and visionaries in growing markets, where a young generation of entrepreneurs are shaping the  global economy.

“I’ve grown up in growth markets and I’ve had the privilege of building my business in those markets – in economies that are being heralded all around the world as the drivers of global growth,” Mr. Naqvi said in his speech. “All of these changes are driven by young, aspiring business leaders that inhabit these worlds…these people are the ones that will change the world of tomorrow.”

The program ended with a performance by Atlantic Records recording artist Max Frost. After dinner, attendees enjoyed the annual after-party with special guest DJ Hannah Bronfman.

View social media highlights from the event below, watch all of the speeches on Endeavor’s YouTube channel, and see photographs from the night on Endeavor’s Facebook.

 

A special thanks goes to Sarah Merians Photography & Video for capturing the celebrations.
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November 2014 Newsletter

B0KxMjoCIAAUomPTo view Endeavor’s November newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Mexico's Ver De Verdad Launches First Mobile Eyecare Network in Mexico

Ver de Vverdeverdaderdad, founded by Endeavor Entrepreneur Hugo Moreno González, is a retailer of  affordable, high- quality and stylish eyeglasses and accessories primarily serving low-income Mexican consumers. The retailer recently announced that it is introducing its first mobile optical shop, which will serve populations in rural communities that lack traditional access to eyecare.

The company aims to bridge the gap between high-priced eyewear and the inadequate eyeglass options supplied to the nation’s poor by public health groups. By providing a full vision diagnostic service at an affordable price, Ver de Verdad allows customers free eye exams that they might not have regular access to. The customer’s unique specifications are then designed and produced by one of the company’s production centers and delivered. The company currently operates over a dozen retail stores, and the mobile unit initiative will allow them to reach areas like Sonora and Sinaloa where they do not have traditional outlets. The first mobile shop will serve an estimated 22,000 people a year.

An estimated 3 out of 10 Mexicans have the opportunity to improve their quality of life with the help of glasses, but the vast majority lack this awareness because they don’t have access to to reliable eyecare services. In the communities of Sonora and Sinaloa especially, over 2 million don’t have steady access to these essential services. The mobile units will provide the same services as their fixed locations and are also equipped with production facilities. The effort was made possible with support from the Inter-American Development Bank.

Since joining the network in 2012, Hugo and his team have received support from a local panel of mentors who provided them with a roadmap to refine and fine-tune their business model. See more about the launch by clicking here.

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Ver De Verdad’s mobile unit

Colombia's Bodytech Named EY Entrepreneur of the Year in Colombia

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Nicolas Loaiza Galeano and Gigliola Aycardi Batista, Colombian entrepreneurs and founders of Bodytech, were recently named EY Entrepreneurs of the Year in Colombia, recognizing the company’s innovative business model and impact on the region’s economy. The chain of health and fitness centers has grown to include locations in Chile and Peru and currently employs over 3,500 people.

 

Based in Bogotá, Bodytech  recently announced plans for expansion in five Latin American countries as the business prepares to become a publicly listed company. By integrating health and fitness services, BodyTech is more than just a gym – the health club has grown to offer multiple solutions in the medical arena as well. After realizing the potential in Latin America’s health sector to create a tailored chain of clubs, the pair took a risk on the idea and turned their graduate school thesis into Bodytech.
 
Now with 58 Colombian locations spanning major metropolitan areas including Bogota, Medellin and Cartagena, Bodytech also maintains 39 locations in Chile and 10 in Peru and is looking to enter Ecuador, Costa Rica and Panama by 2015. Projecting to grow to over 200,000 members and 150 fitness centers in the next few years, the company has also set its sights on revenue goals of $150 million as it builds upon its membership.

 

EY, an Endeavor global partner, has been hosting the EoY Program for over two decades, expanding it to more than 50 countries with awards presented annually to over 900 of the world’s most successful and innovative entrepreneurs.

With access to the right resources, Nicolas and Gigliola are a testament to the high-impact potential of emerging market entrepreneurs and have been active members of the Endeavor network since their selection in 2007. The team has received expert advice and support from Endeavor’s eMBA, G-Lab and ECLA programs, with specific guidance given on the strategic planning and execution of the brand’s fitness training institutions.

Read more about Bodytech’s EY honor in El Tiempo.

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Gigliola and Nicolas at the EY EoY Awards event

Lebanon's Hind Hobeika, Founder of Instabeat, Honored on BBC's 100 Women 2014 List

_78541700_100_women_branding_2014Lebanon entrepreneur Hind Hobeika, founder of wearable tech company Instabeat, was named to BBC’s 100 Women list this year which recognizes women who are leading industries and igniting change around the world. Instabeat produces a unique device that allows swimmers to monitor their heart rate and other metrics through a real-time display.

Instabeat’s wearable gadget provides on-demand data for swimmers on a color coded screen on the interior of swimming goggles. The device is small, creates minimal friction with water, and provides key information without having the swimmer lose focus. Hind expects that the technology could be applicable to sports and athletes beyond the swimming world and plans to launch a triathlon version to market in the next few years. Estimated to reach $50 billion by 2018, the global wearable tech industry has gained popularity in recent years with top names like Google and Apple making forays into the field. Hind and her team are already beginning to find a niche in the market and are inspiring other entrepreneurs in the region to do the same.

After joining Endeavor at the 54th ISP in 2014, Hind has been set up with a local board of advisors and industry experts who will help her refine Instabeat’s products and business model.

View the full BBC list by clicking here.

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Hind Hobeika presenting at the INK2014 Conference

Mexico's Jorge Soto Discusses the Future of Cancer Detection in TED Global 2014 Talk

miroculus_webMexican entrepreneur Jorge Soto, co-founder of Citivox and Miroculus, gave a talk at TED Global 2014 this month about the future of medical technology and cancer detection. Miroculus, his second venture, aims to disrupt the medical device industry with a unique testing product that can detect and monitor diseases while providing real-time analytics.

Along with a crew of technologists and scientists, Jorge – who serves as the company’s CTO – saw an opportunity to develop a simple, noninvasive, open-source test that looks for early signs of multiple forms of cancer. Onstage at TED Global 2014, he demonstrated a working prototype of the mobile platform for the first time. Drawing on personal experience with cancer in his family, and frustrated with the inefficiencies of diagnosis in the medical system, he and his team knew that they could find a reliable and accurate way to leverage blood samples and molecular analysis for detection. Demonstrating the potential for innovation in emerging markets – the founding team hails from Chile, Panama, Mexico, Israel and Greece – Mirocolus taps into a global need for accessible medical technology.

Selected in 2011 along with Citivox co-founder Oscar Salazar, the pair’s original venture used mobile and crowd-sourcing technology to build and enhance the relationship between citizens and the government. With Citivox, Endeavor helped the team connect with industry experts and key investors through the Endeavor Investor Network. Jorge, who has also given back to Endeavor through donations, continues to receive support from the organization as Miroculus works to scale its offering.

Watch Jorge’s TED Talk below.

Argentina's Satellogic Featured at Wired UK Conference; Highlights the Potential of the Space Industry

satellogicArgentina’s Emiliano Kargieman, an Endeavor Entrepreneur selected at the 54th Endeavor ISP, recently spoke at the WIRED2014 conference about transforming the space industry with his company Satellogic. Seeking to make space accessible to all, Emiliano’s venture is working to produce and launch cost efficient satellites for research, exploration, mapping and more.

Also a WIRED Innovation Fellow, Emiliano has already launched three satellites at a fraction of the cost of traditional ones, with plans to launch more than a dozen in the next year. Satellogic could democratize access to space-based services by dramatically reducing the barriers to obtain real-time satellite data, aiming to eventually create a vast network of these nano-satellites  that can revolutionize daily life. Because Satellogic’s systems are so much quicker to build and significantly more affordable, they have the opportunity to cover every point on Earth, providing live hi-res imaging of the entire world.

“We’re at a tipping point in technology where we have the tools and the knowledge for anyone to build things and send them into space,” Emiliano said at the conference. “It’s the new Wild West.”

Inspired by the idea of “hacking”, Emiliano saw an opportunity to drive technological revolution in a multi-billion dollar industry. With a formal background in mathematics and philosophy, he spent the last two decades as a serial technology entrepreneur and innovator. He founded his first company at age 15; later he co-founded Core Security, developing pioneering work in the software sector.

Since his selection by Endeavor in 2014, Emiliano and his team have been set up with a local advisory board of Endeavor mentors who will help them refine their business model and continue to scale the company’s offerings.

Read more about Emiliano’s participation at the conference by clicking here.

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Emiliano speaking at the WIRED2014 event

Endeavor Entrepreneur Selçuk Atlı's Second Venture Boostable Raises $3.2 Million

boostable-iconEndeavor Turkey Entrepreneur Selçuk Atlı, founder of Boostable, recently raised $3.2 million in a seed round to support the growing advertising platform. Led by Morado Ventures, Omidyar Network, SV Angel and more, the Y Combinator alumni company is Selçuk’s second venture after SocialWire.

Boostable’s innovative service doesn’t sell advertising directly – rather, marketplaces utilize its ad-buying tool to streamline the process of recommending ad space to sellers. Selçuk and his team saw an opportunity in the space after realizing that marketplaces make a lot of money on small margins, but many don’t have much to spend on targeted ads to customers. Marketplaces provide customer targeting data and promote the tool to their sellers, who simply set a budget and paste in the URL of their e-commerce store, room rental, crowd funding project, or event.

Boostable auto-generates creative for their listing and runs optimized ad campaigns on Facebook, targeting previous purchasers on that marketplace or new customers. These drive sales for the sellers, which earn fees for the marketplace and Boostable as well. The investment will help the company expand beyond its six-person team, court more marketplace giants like Ticketmaster and eBay, and add more social  channels like Twitter. Read more about the investment in TechCrunch.

Since his selection in 2011, Selçuk has received tailored mentoring services from Endeavor’s network and participated in a number of Endeavor events, including a Digital Media Tour, the SXSW Festival, and Investor Network networking sessions.

Endeavor Entrepreneur Diego Saez-Gil Joins Bluesmart Team to Launch World's First "Smart" Carry-On Suitcase

logo-high-1Endeavor Colombia Entrepreneur Diego Saez-Gil, founder of WeHostels, and former Endeavor Global staff member Brian Chen recently joined the founding team of Bluesmart, a venture that launched the world’s first “smart” carry-on suitcase. Led by a team of expert engineers and designers, Bluesmart’s innovative suitcase is aimed at a market of tech-savvy travelers, with features including a built-in device charger, smart lock, luggage scale and GPS tracking, as well as support through a connected mobile app. Since the product’s launch on crowdfunding site IndieGoGo in early October, the team has raised over $500,000.

The New York City-based  team of  five saw an opportunity to tackle a traditional industry that, despite being a global multi-billion dollar market, had not seen appropriate innovation to match today’s well-connected traveler. With backgrounds in entrepreneurship, industrial design and computer engineering, the team joined together to create Bluesmart after a year of development. Made of polycarbonate and aluminum, the bag weighs only 8.5 pounds and meets TSA standards. It will be available for retail purchase in August 2015. Brian, a current MBA candidate, is a Co-founder overseeing Operations and Diego is a Co-founding Board Member who also serves as VP of Mobile at StudentUniverse.

Since it’s launch, Bluesmart has been featured in a number of media outlets, including WIRED Magazine, CNet, the Huffington Post, Mashable and more.

After being selected as an Endeavor Entrepreneur in 2012, Diego has been an active participant in many key learning and support activities provided by Endeavor, including networking events, branding tours, and mentoring sessions. Endeavor has also provided Diego the opportunity to meet with key investors and industry leaders through events organized by the Endeavor Investor NetworkIn 2013, Diego’s travel booking platform WeHostels was acquired by StudentUniverse.

42 High-Impact Entrepreneurs from 12 Countries Join the Endeavor Network at the 55th International Selection Panel in Istanbul

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Istanbul, Turkey – October 24, 2014 – At the 55th Endeavor International Selection Panel (ISP), 42 high-impact entrepreneurs leading 23 companies from 12 countries were welcomed into the Endeavor network.

Endeavor now supports 990 High-Impact Entrepreneurs from 629 companies across 21 countries. The entrepreneurs were chosen at a panel held from October 22nd – 24th in Istanbul.

The ISP is the culmination of an extensive multi-step selection process that is at the core of the Endeavor model. At the Istanbul ISP, top business and industry leaders from around the world interviewed candidates to discern their potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs.

“The diversity of the businesses represented at this ISP is amazing,” said Endeavor co-founder and CEO Linda Rottenberg. “From mining services in Chile to transistor testing equipment in Malaysia, our network of high-impact entrepreneurs are truly innovating industries and transforming economies worldwide.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized world-class services, including introductions to local and international mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Since 1997, Endeavor Entrepreneurs have created thousands of jobs and built sustainable and transformative growth models in their home countries. In turn, they become crucial role models for future generations of entrepreneurs.

Endeavor will be hosting one more International Selection Panel in 2014 located in Miami, FL.

Brief descriptions of the newly selected entrepreneurs and their companies follow.

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Endeavor board members meet from around the world

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Entrepreneur(s): Mario Flores
Company: Innovators Conveyer Belt
Conveyer belts are to mines what arteries are to the human body. As the main means of transport for minerals, losses of up to US$5 million per hour can be incurred when belts are deactivated for routine maintenance or replacement. Innovators reduces maintenance time for conveyer belts by 60% by minimizing the amount of equipment and personnel required in the process – saving mines millions of dollars per hour. The company developed a proprietary machine and repair method that turns the conventional repair process upside down (literally) by cutting and replacing the belt from below, as is the standard.

Entrepreneur(s): Gustavo Montero, Elvira Montero
Company: Imaginex
Many small businesses in Latin America do not have the budget or technical know how to purchase advanced enterprise software solutions, and rely instead on inefficient processes and basic spreadsheets to manage operations. Imaginex’s cloud-based, user-friendly operational management helps SMEs improve procurement and sales processes. Its main product, Bsale, has a special feature to expedite a lengthy online tax certification process and help companies submit electronic tax receipts in compliance with new regulation.

COLOMBIA

Entrepreneur(s): Sebastian Obregan, Danel Pelaez, Sebastian Molina
Company: Enmedio
In a tech-enabled world, static displays no longer engages a population accustomed to dynamic media. Enmedio is a digital signage company responding to the digital revolution with dynamic displays that deliver the right message to the right people at the right time and place. Digital signage is one of the fastest growing communication mediums in the world. Still nascent technology in Colombia, digital signage can change the way businesses communicate. With the largest digital signage coverage in the country, Enmedio will help accelerate the process of digitizing the physical world.

Entrepreneur(s): Hans Christian Boehlke, Carl Petter Boehlke, Alfredo Angel
Company: Aldeamo
Hans Christian Boehlke, Carl Petter Boehlke, and Alfredo Angel are creating aldeas móviles (“mobile villages”) all over the world. Aldeamo is helping customers communicate using any type of mobile phone (e.g. feature and smart) without having to use data or an Internet connection. Through established partnerships with 25 Mobile Network Operators (MNOs), Aldeamo connects audiences with shared interests and delivers targeted content to its users through a B2C subscription model that charges the end-user directly through its carrier billing. Aldeamo also provides mobile solutions to public and private entities through a B2B model, currently available in Colombia, Guatemala, Honduras, and Peru, This model consists of the following services: (i) Intelligent SMS, a two way communication system between entities and their clients or employees; and (ii) Imenus, a way to connect directly to information systems from any mobile phone, without using data.

EGYPT

Entrepreneur(s): Ahmed Badr, Amir Barsoum
Company: DrBridge
Few experiences transcend cultural boundaries the way a doctor’s visit does: neglected file cabinets overflowing with outdated patient records, cramped waiting rooms groaning with overcapacity, and overworked, baggy-eyed doctors burdened with frivolous administrative tasks. The health care system has reached an unparalleled level of inefficiency in Egypt, which spends 1% more of its GDP on health care than the average Middle East country, but has a life expectancy five years lower. DrBridge believes in the power of technology to overcome these inefficiencies. By delivering an end-to-end operations platform for doctors, patients, and pharmaceutical companies, DrBridge is ushering the technophobic medical profession into the digital era.

Entrepreneur(s): Mohamed Abbas, Dina Aly, Majd El Sherif
Company: Matter
Matter is a branding firm based in Cairo, Egypt. The agency came on the scene during the Egyptian Revolution in 2011, proving that their consistent and tried methodology was competitive with international firms. In 2013, the company was the first local brand agency in the Middle East to win a Dieline Packaging Award, a worldwide competition devoted to the art of consumer package design. As one of the first local agencies devoted entirely to branding, Matter has recruited top talent and secured local and international clients. In the last 10 months, the company grew its client base by 120%.

Entrepreneur(s): Laila Sedky, Adel Sedky
Company: NOLA Bakery
NOLA offers customers trendy affordable luxuries through its wide variety of freshly-baked delicious desserts that are new to the Egyptian market. NOLA focuses on the customer experience, providing a sophisticated yet cheerful setting with top customer service. For a customer, stepping into a NOLA store should be like strolling into a French bakery in Paris, with tantalizing aromas and smiling faces greeting the customer as they walk through the door. Currently, NOLA’s main product lines revolve around cupcakes in a range of flavors although it recently expanded its offering into other dessert categories like the cronut, cheesecakes, and NOLA cakes.

GREECE

Entrepreneur(s): Dimitris Koutsolioutsos
Company: Farmers Republic
New York has the Union Square Market, London has Borough Market and now Greece has Farmers Republic! In a time when Greece’s Central Market is widely criticized for its relationship with farmers and quality of produce, Farmers Republic has created a disruptive physical and virtual market place—giving farmers agency over their sales with better margins and consumers higher quality certified produce. Farmers Republic is a fair-farming enterprise offering its consumers the ability to enjoy fresh produce directly from small-scale, certified producers, through its open air markets, online store, grocery store and monthly delivery service. Farmers Republic has built a superior reputation compared to other grocery stores and markets through authentically connecting with both its supplier and consumers: the farmers know that Farmers Republic will always be reliable and reasonably priced while consumers can trust that the produce will be of a certain standard through its rigorous certification process.

Entrepreneur(s): Odysseas Ntotsikas
Company: Think Digital Group
Many publishers fill their sites with underpriced advertisements and are pushed aside as advertisers opt for international competitors with huge reach and technological prowess (Facebook, Twitter, etc.). Meanwhile, advertisers struggle to efficiently find the publishers that will maximize value for their ad-spend with a relevant audience and gripping content. Think Digital Group (TDG) connects publishers with advertisers through its publisher network and ad-exchange. As a publisher network, TDG acts as an outsourced salesforce for publishers, semi-manually finding the right advertisers at the right price. Its recently launched ad-exchange, Project Agora,allows advertisers to bid on bundles of ad-space segmented by different audience groups. TDG now counts some of Greece and Romania’s largest publishers among its clients, and as it expands into new markets. Seeking to change how advertising is done across Southeast and Centrel Europe, as well as MENA, Think Digital is thinking big.

Entrepreneur(s): George Voulgaroudis, Dimitris Dimitriadis
Company: Brainbox
Through its automated bike-sharing system, Brainbox offers an efficient and cost effective alternative to vehicular transportation. Bike-sharing combines the convenience and flexibility of a private vehicle with the accessibility and reliability of public mass transit without the obligation of owning a bicycle. With installations across Greece, Cyprus, and Poland, last year alone, individuals cycled nearly a million miles, saving more than 150 tons of carbon dioxide, the equivalent of consuming 17,000 gallons of gasoline.

INDONESIA

Entrepreneur(s): Hanifa Ambadar
Company: Female Daily Network
Female Daily Network (FDN) helps Indonesian women look and feel beautiful. Its primary portal, FemaleDaily.com, provides beauty related content to help women navigate an industry with more available products than any other retail vertical. Its customer product reviews, tip-filled articles, and video tutorials help women become beauty aficionados able to navigate countless options for makeup, skincare, treatments, and trends. The parallel portal for mothers, MommiesDaily.com, attracts FemaleDaily.com visitors as they move through new stages of life. Together, the sites create a cohesive online community that facilitates peer-to-peer connections over shared passions and concerns.

Entrepreneur(s): Bede Moore, Susie Sugden
Company: Vela Asia
Vela Asia offers a suite of end-to-end ecommerce solutions to brick-and-mortar retailers in Indonesia and international brands trying to navigate the nuances of the Indonesian market. Vela delivers the expertise and infrastructure to bring its clients online throughout the ecommerce value chain from digital marketing to warehousing and fulfillment. As a boot-strapped startup, Vela generates additional revenue through modules aimed at a particular pain point along the value chain. The company also operates multi-brand portals under websites Kukuruyuk.com and Paraplou.com (Q4 2014e), which sell electronics and fashion products respectively. Vela aims to become Southeast Asia’s leading multi-platform ecommerce retailer. In the last six months, Vela Asia has grown by 160%, attracting well-known Indonesian and international brands as clients, including Indonesia’s leading shoe manufacturer Yongki Komaladi, global clothier Lee Cooper, and international footwear brand Havaianas.

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The ISP breakfast before interviews

JORDAN

Entrepreneur(s): Nasser Saleh
Company: Madfoo3atCom
Before Madfoo3atCom, the inconvenience of paying bills in Jordan was enough to make Jordanians wish they could buy back lost time. Jordanians went to the bank to withdraw money and traveled to each biller’s payment locations to physically deliver the money owed; rearranging their schedules to arrive during business hours and make time for lengthy queues. Meanwhile, billers incurred over 50% late payments and struggled to keep track of these cash payments. Madfoo3atCom, launched in June 2014, introduced a real-time bill presentment and payment system that enables the billers’ clients to inquire about and pay their bills via convenient and secure electronic channels 24/7. In 2013, the company secured an eight-year exclusive contract with the Central Bank of Jordan mandating that all 26 banks in the country process electronic payments through the company’s platform. Since launch, Madfoo3atCom averages 50 transactions per day, without any marketing. With plans for expansion in the region, the company is looking to average 125K transactions per day, grossing US$18.0M in revenues by 2017.

MALAYSIA

Entrepreneur(s): Sang Beng Ng
Company: Aemulus
Semiconductors are the electrical circuits that make any computerized device function — from cell phones, to jumbo jets, to rain sensors in cars. Before a semiconductor is placed in any cell phone or device, it must be rigorously tested through an expensive, time-consuming process in order to assure its compatibility with the device. Aemulus designs and produces semiconductor testers that reduce the overall cost of testing the semiconductors by upwards of 50% and perform 15-80% faster than competitors’ offerings. As a relatively recent market entrant with a unique relationship with its clients, Aemulus has excellent insight into the demands of the market and is agile enough to respond before its larger, more established competitors—taking away market share from multinationals such as National Instruments in Malaysia. Aemulus has had impressive growth and could be a shining example of a homegrown company that dares to compete with global giants on the basis of technological excellence.

MEXICO

Entrepreneur: Marco Polo Bautista
Company: Game Planet
Game Planet strives to make the process of buying games just as fun as playing them. It offers the easiest and most seamless buying experience for customers in Mexico. In addition to selecting from thousands of new titles and consoles, customers can trade in used-games and attend exclusive video game launch parties. For example, in 2011 Game Planet organized a launch party for Call of Duty Modern Warfare 2, a best-selling first-person shooter game. Partnering with Cinepolis, Mexico’s largest theater group, Game Planet allowed over 1,000 people to play the game before anybody else in the world at a movie theater prior to the game’s midnight launch and meet the game’s developers, who flew in from the US. Originally a vendor in a local bazaar, Game Planet now operates 91 stores and is the largest video game retailer in Mexico.

MIAMI

Entrepreneur(s): Ginny Simon, Steve Simon, Mike Simon
Company: ginnybakes
Eating healthy doesn’t mean eating poorly. Just ask Ginny Simon, her husband, Steve, and their son, Mike. They founded ginnybakes, a Miami-based company producing feel-good cookies, bake mixes, and health bars that have the added benefit of being organic and gluten-free. ginnybakes offers consumers outrageously delicious and healthy snacks baked with the highest quality ingredients. The ginnybakes team has leveraged close relationships with distributors in a fragmented and competitive market to sell its products in many large retailers like Whole Foods and Publix within the U.S. Its blend of premium-quality ingredients and complete ownership of the production cycle differentiates the company from its competition, as it can maintain fresh cookies while achieving economies of scale with integrated production facilities.

Entrepreneur(s): Scott Harris
Company: DeliverLean
DeliverLean has the recipe to maximize your health, your time, and your life. Many of us want to eat healthy but lack the time or energy to do so. Scott Harris (43) founded DeliverLean to empower customers to eat well and live healthy lives. DeliverLean prepares and distributes nutrient-dense, gourmet meals and sells cold pressed juices and raw vegan snacks at select retail locations nationwide. Named the eighth fastest growing Food & Beverage company in the U.S. in 2013 by Inc. Magazine, DeliverLean has ambitious plans to change the way the world think about and consume food.

SAUDI ARABIA

Entrepreneur(s): Khalid al-Kudair
Company: Glowork
The glass ceiling in Saudi Arabia is quickly becoming a desert mirage. For women, the Saudi job market is one of the toughest in the world; only 30% of women are employed, but those who are unemployed are far from unqualified — 75% of them hold a college degree. Legislative restrictions on women’s ability to drive, coupled with social constraints around sharing personal information and CVs, engender a workforce employing only half of the country’s brainpower. Glowork is dedicated to creating equal opportunities for women by bridging the gap between employers and female jobseekers. Having placed 20,000 women in only jobs in three years, Glowork is leveraging its stellar brand reputation to launch into other business verticals where women are underserved, to shake up industries that have historically catered to men.

SPAIN

Entrepreneur(s): Salvador Carrillo, Alberto Benbunan
Company: Mobile Dreams Factory
Behind every swipe, tap and scroll on a mobile app lies an assembly line. This mobile assembly line first designs the user experience, then integrates the app with existing back-end software, then manages the mobile advertising, all before landing on a consumer’s screen. To manufacture this successful mobile strategy, clients go to the Mobile Dreams Factory (MDF), which provides end-to-end services to complete a client’s mobile transformation. With 27 mobile marketing awards, including the Gold Lion in Cannes, Eurobest, and the Gold IAB award, MDF has established itself as a leader in mobile solutions for a European m-commerce market that will exceed US$32B in 2014. Having secured premiere clients such as Burger King, eBay, and Vodafone and expanded into new geographies beyond Spain, the entrepreneurs behind MDF, Salvador Carrillo and Alberto Benbunan, are on their way to making their own mobile dreams come true.

TURKEY

Entrepreneur(s): Barbaros Serdar Özbugutu, Tahsin Isin
Company: Iyzico
With Iyzico, accepting online payments has never been easier. From obtaining contracts with banks to systemic fraud, Turkish companies, both large and small, struggle with online payments. Fortunately, Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market. Iyzico’s two API platforms connect 22 banks and payment companies with over 850 merchants, enabling merchants to accept online payments in the easiest and safest manner. Iyzico’s experienced team and local know how–from collective 33 years experience in the payment market to personally setting up all the contracts with the banks–enable it to offer a more sophisticated and adaptable platform than competitors in Turkey. While there are many global competitors in the online payment market—namely Stripe and World Pay—none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity.

Entrepreneur(s): Hande Cilingir, Serhat Soyouerel, Arda Koterin, Sinan Toktay
Company: Insider
E-commerce in Turkey and MENA is a gold-rush, and Insider is right there to sell the spade. As these geographies’ economies become increasingly digital, companies need the technical tools to mine ecommerce for its full potential. Insider sells cloud-based suites of ecommerce tools that enable clients to convert their visitors to customers. These tools include a behavioral targeting module that creates personalized campaigns for visitors, a module that incentivizes visitors to interact with a client on social media, and over a dozen other tools. Founded in 2012, the company has already attracted premiere clients in Turkey and abroad, such as Groupon, Avis, and Nine West.

Entrepreneur(s): Murat Sahin
Company: Secure Drive
Secure yourself some peace of mind and don’t drive yourself crazy finding airport transportation – leave that to Secure Drive. Too often in Turkey getting to the airport is as big a hassle as the trip itself. Taxis are expensive, public transportation is inconvenient, and illegal car services are unreliable. Established in 2005 by Murat Şahin (43), Secure Drive is the first company in Turkey to offer door-to-door shared shuttle rides to and from airports as well as ski and beach resorts. With a fleet of over 100 cars and operating in nine of Turkey’s largest cities, the company is already the third largest shuttle service in Europe. With Turkey emerging as a vital transportation hub — Istanbul’s new airport alone is expected to accommodate 150 million travelers in 2017 — Secure Drive is ready for lift off.

Entrepreneur(s): Ahmet M. Hançer, Burak Yücelyiğit
Company: Enocta
Through its flexible online platform and vast catalogue of off-the-shelf training content, Enocta provides clients with a convenient one-stop-shop for corporate training solutions. Over the last 13 years, Enocta has developed a breadth of top courses and informal learning methods to increase individual user engagement on the platform. Enocta’s SaaS platform is versatile which allows it to house a range of content be it Enocta’s proprietary courses, a client’s corporate training programs, or even a competitor’s solutions.

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Global chairman Edgar Bronfman, Jr. during an interview

Fifth Annual Endeavor Colombia Conference Brings Together Top Latin American Network Members in Bogotá

logo-endeavorThe 5th annual Endeavor Colombia Conference took place in Bogotá this month with the theme “A Day to Think Big”, aiming to inspire entrepreneurs and audiences with the high-impact stories of Endeavor’s network and provide a top forum for networking. The Conference brought together over 250 Endeavor stakeholders, including entrepreneurs, board members, and mentors from across Latin America.

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The opening panel featuring key members of the Endeavor network

The event marked the first time Endeavor Colombia partnered with Foros El Espectador, a top organizer of business conferences and events in the region. Of the attendees, 17 panelists from Mexico, Chile, the US and Colombia were present, as well as Endeavor Colombia mentors Juanita Ochoa and Fernando Anzures, Endeavor Miami Board Member Adriana Cisneros and Endeavor Investor Network member Chris Rogers.

Eight Endeavor Entrepreneurs from Mexico, Colombia and Chile were present, including  Carlos Anaya of Parkimovil, Diego Solorzano of Carrot.mx, Arturo Galvan of Naranya,  Alex Torrenegra and Tania Zapata of Bunny Inc., Kenneth Mendiwelson of Refinancia, Mario Hernandez of Marroquinera and Jorge Nazer of ALTO.

The content of the day-long conference opened with a panel about international expansion strategies featuring Endeavor Entrepreneurs and network members, followed by multiple panels focused on marketing trends, the impact of entrepreneurship in urban areas, and entrepreneurial success stories. Subsequent workshop events were themed around challenges in investments and marketing.

Read press coverage of the conference in El Espectador by clicking here.

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Attendees fill the room during a conference panel

Entrepreneurship Ecosystem Insights Newsletter – October 2014

The October 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Saudi Arabia's Lomar Launches New Retail Concept and Line of Women-Focused Apparel

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Saudi Arabian entrepreneur company Lomar, founded by Loai Naseem, recently launched a new store concept along with a new line of apparel targeted towards women. The thobe-focused fashion house has been an innovator in its sector since it began in 2005, taking a once standard and uniform garment and bringing it into the modern world with luxury design.

In October, Lomar hosted an “And Her” event to launch its new retail experience in a new flagship store in the city of Jeddah. Hosted by Saudi media personality Muna Abusulayman, the launch brings a full retail experience to the Lomar family by offering an innovative one-stop shopping experience for both men and women. Continuing the legacy Lomar has forged by redefining the thobe, the company has now turned its sights to the needs of Saudi women, embarking on a two-year product development and research effort to identify the material and design needs of female consumers. This culminated in the launch of a new women’s line that rethinks the abaya and can serve the needs of a variety of occasions and settings. The event was attended by fashion enthusiasts and bloggers as well as a number of social media celebrities from the region.

Since his selection into the network in 2012, Loai has been set up with a local advisory board of experts in the retail industry who will help his team refine their business model and expansion strategy. The company currently employs over 500 people.

Read more about the event by clicking here.

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Attendees at the Lomar launch event

Argentina’s Technisys Raises $13 Million in Funding Round, Receives Participation From Endeavor Catalyst

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Technisys, an Endeavor Argentina entrepreneur company, raised $13 million in a Series B round of funding that included participation from Intel Capital, Alta Ventures, KaSZeK Ventures, Endeavor Catalyst and existing investor Holdinvest. Technisys has brought an innovative business model to the banking world in Latin America by offering omnichannel technology solutions to customers through mobile devices, ATM machines, online platforms and more.

The company was founded in 1996 by Endeavor Entrepreneurs Miguel Santos and German Pugliese Bassi, and has grown to employ 300 people across 10 Latin American offices. The company’s growth has expanded as the region’s middle class continues to rise, with clients like Citibank, Banco Itaú, Banco Estado de Chile and Banco Original leveraging their solutions to reach customers for savings, payments and loans services. Technisys streamlines the information held within various applications and provides banks with a simpler and more effective means for customer interaction. The company is expected to reach close to $30 million in revenue this year.

“The banks should be reaching the customer in a holistic way. That means allowing them to connect via the Web, tablet, ATMs, smartphones and new wearable devices,” said CEO Miguel Santos.

With much of the population in Latin America still lacking access to traditional banking services, the team at Technisys has uncovered a key opportunity to leverage technology and reach consumers looking for efficient financial solutions. The Technisys team expects to use the Series B funding to expand to new markets and continue investing in R&D, particularly in the wearable devices market.

“We’re thrilled to contribute to this next phase of Technisys’ growth,” said Endeavor co-founder and CEO Linda Rottenberg about Endeavor Catalyst’s participation. “We’re very proud of what Miguel, German and their team has achieved so far and have big expectations for the future.”

Since joining the Endeavor in 2001, the entrepreneurs have been active members of the network, receiving custom advisory services from a local board of Endeavor mentors. In addition, Endeavor has connected the team with other entrepreneurs and business leaders through retreat and summit events, as well as through talent programs like the EY Vantage Program. Endeavor Catalyst’s participation in this round demonstrates the company’s high-impact, high-growth potential.

Read more about the investment news in the Wall Street Journal.

About Endeavor Catalyst

Endeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities. Learn more about Endeavor Catalyst by clicking here.

Linda Rottenberg Appears in Top Media Outlets to Discuss "Crazy Is A Compliment" and Share Stories of Endeavor Entrepreneurs

CrazyMediaEndeavor CEO and co-founder Linda Rottenberg’s first book “Crazy Is A Compliment: The Power of Zigging When Everyone Else Zags” was released in October, bottling 17 years of insights and anecdotes from her work with nearly a thousand of the world’s best high-impact entrepreneurs. As part of the its release, Linda has appeared in a number of top media outlets – including Fortune Magazine, the Wall Street Journal, CNBC, MSNBC and Fast Company – to share lessons from the over 40 Endeavor Entrepreneurs highlighted in the book.

In “Crazy Is A Compliment”, Linda expresses the idea that entrepreneurship is not just for entrepreneurs anymore. Whether it’s an employee at a Fortune 500 company, a nonprofit, or a mom-and-pop shop, everyone needs to think and act like a changemaker in order to create their own success stories. She draws on her unique experience to show readers how they can take manageable steps to achieve their dreams, utilizing an insightful blend of inspiring stories and practical tips for getting started, going big, and going home.

As part of these lessons, Linda spotlights some notable Endeavor Entrepreneurs from around the world and their successes, including:

 

Since its release, “Crazy Is A Compliment” has been named a top business book for the fall by Fortune Magazine and Business Insider, reaching #11 on the New York Times’ best sellers list as well as the top 50 books on Amazon.com. Learn more about Linda’s appearances in the media and hear her discuss lessons from the book by clicking here.

You can also join Linda’s #TeamCrazy on social media with the hashtag #CrazyIsACompliment to discuss the book. In addition, you can join the likes of LinkedIn’s Reid Hoffman, AOL’s Steve Case and other top entrepreneurs by sharing your #MyCrazyMoment video.

In the Media – Linda Rottenberg

October 2014 Newsletter

OctNewsletterTo view Endeavor’s October newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

WeXchange 2014 Forum Empowers Female Entrepreneurs with a Focus on Latin America

1919650_669277579815095_9025990230053879794_nWeXchange is a platform dedicated to promoting the development of female entrepreneurs with a focus on Latin America by providing key networking, mentoring and growth opportunities. The 2014 WeXchange Forum will take place December 11th-12th in Miami, FL as the premiere gathering for stakeholders and audiences interested in Latin American entrepreneurship and the empowerment of women-owned businesses. This year’s event will take place after the 56th Endeavor International Selection Panel in Miami and feature keynotes from Endeavor co-founder and CEO Linda Rottenberg as well as Endeavor Entrepreneur and Beleza Natural CEO Leila Velez.

Find out more about the event, as well as registration details, by visiting www.wexchange.co.

The Power of Scale-Ups: Harvard Business Review and the World Economic Forum Spotlight High-Impact Entrepreneurship

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Scale-up companies, defined by Endeavor Insight as companies more than three years old with a minimum of 20% average annual employment growth, have become a major force in transforming economies around the world. Bringing focus to the power of scale-ups, the Harvard Business Review recently featured an article co-authored by Endeavor President Fernando Fabre and Babson College professor Dan Isenberg emphasizing scale-ups, not start-ups, as the main drivers of economic change. The article takes a specific look at The Global Scale Up Declaration, an effort formed between top entrepreneurship influencers to offer a rallying point for the movement. Sign and share the Declaration at ScaleUpDeclaration.org and join the social conversation with #ScaleUpDeclaration.

In addition, a recent World Economic Forum report titled “The Bold Ones – High-Impact Entrepreneurs Who Transform Industries” takes an in-depth look at the power of high-impact entrepreneurs and their role in innovating industries worldwide. Drawing from surveys of entrepreneurs in EY’s Entrepreneur of the Year program as well as research from Endeavor, the report provides insight on how these entrepreneurs and their scale-up ventures accelerate access to new markets and become leading businesses that create high-value jobs.

In the HBR piece, Isenberg and Fabre emphasize that, despite the buzz around “startups”, the U.S. has experienced a decades long decline in entrepreneurship. Instead, more and more American companies are surviving and growing beyond 16 years. These growing businesses – known as “scale-ups” – represent the kind of long-term entrepreneurship that improves societies, jobs, quality of life, and innovation. Entrepreneurial scale-ups are companies – young or old – which are run and owned by growth-driven leaders, and which at any stage of their lives may launch a new growth trajectory. New startups are easier to count, but they alone don’t have the positive impact on economies that growing a company does. As a result, in advance of November’s Global Entrepreneurship Weekthe Declaration was developed in a coordinated effort to focus more of the entrepreneurship conversation on scale-ups and their positive impacts.

View the full HBR article by clicking here.

The WEF report found that the over 600 companies in the sample (1/10,000th of the total number of U.S. companies) have created over 160,000 jobs in just the last two years (nearly 1/20th of the total U.S. economy). These ventures have outperformed comparable financial indices by a substantial margin and have created significant wealth for owners, employees, and customers. In addition, the report features insights from Endeavor CEO and co-founder Linda Rottenberg, who is recognized as an early pioneer of the high-impact entrepreneurship movement.

Read and download the full report by clicking here.

The Global Scale Up Declaration – Join the #ScaleUpDeclaration Conversation

To accelerate and highlight the scale up conversation, with a group of entrepreneurship influencers, we have developed this Scale Up Declaration, which we offer as a rallying point for what the entrepreneurship discussion should focus on, and what that can accomplish. Sign and share the Declaration today!

Endeavor Entrepreneurs from Greece, Indonesia and Malaysia Speak at the 2014 ASEAN Business Club Forum in Singapore

ASEANThe 2014 ASEAN Business Club Forum took place in Singapore this month and brought together more than 300 business leaders from across the Asia Pacific region to tackle issues in trade, industry and economic development. Endeavor Entrepreneurs from Greece’s Out There Media, Indonesia’s Kartuku and Malaysia’s GridMarkets were invited to speak at the event to address innovations in their respective industries and the impact of entrepreneurship in the region. 

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Endeavor VP Cindy Ko speaking at the 2014 ABC Forum

 ASEAN (Association of Southeast Asian Nations) is a ten-member bloc which includes such countries as Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar, and Vietnam. The organization aims to accelerate economic growth and promote political and social progress among its members.  The Business Club Forum is ASEAN’s leading business event focused on private sector growth and the acceleration of the organization’s regional agenda. Top executives, entrepreneurs and policymakers from an array of industries gathered to identify barriers and opportunities to the ASEAN Economic Community. Among them, Endeavor’s VP of International Expansion Cindy Ko discussed recent Endeavor Insight research on the growth of Silicon Valley and the impact of “entrepreneurial mafias” in supporting ecosystems of startups and scaleups.

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Endeavor network members with AirAsia’s Tony Fernandes

Serving as an example of Endeavor’s global network, Greece’s Kerstin Trikalitis, co-founder of mobile advertising solutions firm Out There Media, was given the opportunity to present an “Idea Capsule” talk on location-based mobile marketing  strategies. Indonesian entrepreneur Niki Luhur, founder of Kartuku, presented on the cashless payment and digital transaction industry, drawing on his experience developing and promoting Kartuku’s innovate payments network. Endeavor Malaysia’s first entrepreneur and GridMarkets founder Hakim Karim discussed his company’s business model and the untapped potential in the data server sector. In addition to the entrepreneurs who spoke, Endeavor Malaysia Board Member, Forum Chairman and AirAsia CEO Tony Fernandes gave a featured keynote stressing the importance of cooperation between the public sector and private businesses in the region.

Learn more about the 2014 ASEAN Business Club Forum by clicking here and see the links below for videos of each talk.

Jordan's The Online Project Named A Top 40 Social Media Agency by R3 Worldwide

the online projectJordan’s The Online Project, founded by Endeavor Entrepreneurs Zafer Younis and Ramzi Halabywas named a top social media agency to work for by consulting firm R3 Worldwide in their “Social 40″ ranking. As the Middle East’s leading social media agency, The Online Project develops and executes social media strategies for Fortune 500 companies and high profile organizations operating in the region.

Founded in 1972, R3 Worldwide is a top consultancy specializing in agency management consulting, with on-the-ground representation in Asia Pacific, Europe and Latin America. The company’s Social 40 list is a new initiative that  celebrates 40 of the most creative and innovative social/digital agencies around the world.  The selection criteria consisted of  quantitative and qualitative analysis that looks for proven client results, creative strategy, and a global reach. R3 screened over 100 companies against the criteria for the Social 40 ranking.

Ramzi and Zafer Younis co-founded both Modern Media, an independent radio broadcasting company, and The Online Project. Endeavor Insight’s analysis of Amman’s tech sector found that Ramzi and Zafer have mentored or inspired the founders of 16 different Amman tech companies. Since selection by Endeavor in 2010, the pair have received services regionally and globally, having attended three Endeavor SXSW tours. The entrepreneurs have also given back to Endeavor – Zafer has twice served as a panelist at ISPs and donated to Endeavor Jordan.

See the full Social 40 list by clicking here.

Endeavor Catalyst Participates in Recent Funding Round for Uruguay's Scanntech

Endeavor-Catalyst-LogoEndeavor Catalyst recently joined the funding round for Uruguay’s Scanntech, a leading technology platform that connects retailers in emerging markets to consumer products companies, financial institutions and more. Marking Endeavor Catalyst’s seventeenth investment, the Scanntech news demonstrates how innovative entrepreneurial ventures are continuing to attract global interest in the world’s most unexpected markets.

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Scanntech currently operates in seven countries in Latin America and represents the first Uruguay-based company in the Endeavor Catalyst portfolio.  The firm’s latest investment round included the International Finance Corporation, part of the World Bank Group, Sequoia Capital, an earlier Scanntech investor, and other firms. Entrepreneur Founder and Endeavor Entrepreneur Raul Polakof is revolutionizing the way independent and traditional grocery stores in emerging markets integrate with Consumer Goods Companies. The company’s technology platform connects traditional stores with global consumer products companies, financial institutions and telecommunications firms, and government services.

 “We’d like to thank everyone at Endeavor for making this investment happen,” said Polakof, who has been an Endeavor Entrepreneur since 2001.  “One of our goals has always been to show that entrepreneurs can make an enormous difference in emerging market countries.”  The new investment round will fund further expansion across the region, including Brazil, Peru and Colombia as well as into other emerging markets.

Since joining Endeavor in 2001, Polakof has been an active network member, serving as both a mentor and, formerly, as a board member for Endeavor Uruguay. Raul has received local mentorship from Endeavor’s expert advisors with a particular focus on areas of expansion, litigation, and publicity. As an entrepreneur, he has also participated in numerous global workshops, Immersion Tours and Endeavor Summits. As a company, Scanntech has benefited from a range of Endeavor talent programs including the G-Lab program, EY Vantage program and the eMBA program

About Endeavor Catalyst

Endeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities. Learn more about Endeavor Catalyst by clicking here.

Harvard Business Review Highlights the Power of Scale-Ups and The Global Scale Up Declaration

hbrThe Harvard Business Review recently featured an article co-authored by Endeavor President Fernando Fabre and Babson College professor Dan Isenberg that puts the spotlight on impact of scale-up organizations and the entrepreneurs behind them. The article takes a specific look at The Global Scale Up Declaration, an effort formed between Isenberg, Endeavor and top entrepreneurship influencers to offer a rallying point for the discussion around entreprenuership. View, sign and share the Declaration at ScaleUpDeclaration.org and join the conversation with #ScaleUpDeclaration.

In the piece, Isenberg and Fabre emphasize that, despite the buzz around “startups”, the U.S. has experienced a decades long decline in entrepreneurship. Instead, more and more American companies are surviving and growing beyond 16 years. These growing businesses – known as “scale-ups” – represent the kind of long-term entrepreneurship that improves societies, jobs, quality of life, and innovation. Entrepreneurial scale-ups are companies – young or old – which are run and owned by growth-driven leaders, and which at any stage of their lives may launch a new growth trajectory. New startups are easier to count, but they alone don’t have the positive impact on economies that growing a company does. As a result, in advance of November’s Global Entrepreneurship Weekthe Declaration was developed in a coordinated effort to focus more of the entrepreneurship conversation on scale-ups and their positive impacts.

View the full HBR article by clicking here.

 

The Global Scale Up Declaration – Join the #ScaleUpDeclaration Conversation

To accelerate and highlight the scale up conversation, with a group of entrepreneurship influencers, we have developed this Scale Up Declaration, which we offer as a rallying point for what the entrepreneurship discussion should focus on, and what that can accomplish. Sign and share the Declaration today!

 

Endeavor eMERGE Dubai Convenes 40+ Entrepreneurs and Network Members to Highlight Human Capital

emergeDubaiEndeavor hosted an Endeavor eMERGE event in Dubai this month, bringing together top members of the network from the MENA region for two days of networking, workshops and discussion. With a particular focus on the development of human capital, the event featured participation from 20+ Endeavor Entrepreneurs and candidates from the UAE, Lebanon, Jordan, Spain and Saudi Arabia, as well as a number of industry and business leaders.

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The first night’s networking dinner

The event kicked off with a networking dinner that gathered nearly 40 attendees, including the entrepreneurs, Endeavor staff and board members, for an informal introductory meeting. Notable members of Endeavor UAE‘s board, including Fadi Ghandour, Noor Sweid, Souheil Hajjar and Board Chairman Patrick Chalhoub, were also in attendance. A number of cross-border connections were made during the night of networking, most notably between Endeavor Spain Entrepreneur Ignasi Vilajosana, founder of Worldsensing, and members of Endeavor’s MENA network.

Selected into the network in 2014 as the first entrepreneur from Endeavor SpainIgnasi was also invited to keynote the Smart Living City conference in Dubai the same week. As the founder of Worldsensing, a traffic management and infrastructure solutions firm, Ignasi  aims to leverage the concept of the “Internet of Things” by integrating sensor monitoring technology in cities to make them smarter, safer and more efficient.  The Smart Living City event brought together high-level representatives from startups, foundations, corporations and more to highlight the future of urban living and the opportunities for technology and development to intersect. At the eMERGE dinner, Ignasi was able to meet a number of Endeavor Entrepreneurs leading companies that are also leveraging technology in unique and innovative ways. 

During the following day of workshops, Sal Giambanco, partner at the Omidyar Network, led an interactive and engaging workshop on human capital for both Endeavor staff and participating entrepreneurs. The entrepreneurs conducted an organizational  review to identify key talent opportunities based on their business priorities in order to better understand their needs. Sal equipped the entrepreneurs with “tools” to help them assess their human capital and elicit better performance from their employees. In addition, he had them take a look at practical processes they could put in place as leaders to improve feedback and ensure employee satisfaction. He also placed an emphasis on work-life balance, the delegation of responsibilities, and an overall focus on personal health that could easily translate into the professional space. A subsequent Q&A session from the entrepreneurs raised critical questions about real-world business issues with talent management and employee retention.

The day culminated with positive feedback in praise of the event’s networking and learning opportunities, as well as requests for future eMERGE events. Learn more about the Endeavor eMERGE California event that took place in June by clicking here

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A human capital workshop led by Omidyar Network’s Sal Giambanco

 

Mexico's Kubo.Financiero, A Microfinance Platform, Receives $1.7 Million Investment

kuboMexico’s kubo.financiero recently raised nearly $1.7 million in an investment round led by venture firms Alta Ventures Mexico and  Capital Emprendedor, bringing the company’s total funding to $3.7 million. With this investment, kubo.financiero hopes to continue disrupting the financial sector in Mexico by significantly reducing interest rates to borrowers and creating a new asset class for investors across the region.

kubo.financiero is a pioneer in Mexico’s microfinance sector, offering online financial communities that link creditworthy borrowers with savvy investors through a peer to peer lending (P2P) business model. With a branch-less model that cuts overhead costs, kubo leverages technology and credit information systems that streamline the process of borrowing capital for everyone. kubo’s innovative model and strategic approach aims to encourage a “multiplier effect” for finance that can generate both economic and social impact.

Since its founding in 2012 by Endeavor Entrepreneur Vicente Fenoll Algorta, the company has met with nearly 5,200 credit requests leading to over 1,200 disbursements. Ninety percent of these loans support needs ranging from housing to education. The loans have terms that range from 16 weeks to 18 months, and nearly 95% of customers are paying 50% lower rates versus the ones they previously paid. The new venture firms in this recent round will join an existing group of angels and investors, including previous investors Vander Capital and Wayra.

Vicente joined Endeavor as an entrepreneur in 2004 as the founder of Fincomun before he went on to start kubo.financiero. With kubo, Vicente and his team have been active members of the network, participating in Endeavor Investor Network events, working with expert mentors, receiving support from the EY Vantage and eMBA programs, and giving back to Endeavor Mexico through donations.

Read more about the news by clicking here.

Endeavor Co-Hosts Silicon Valley Day in Mexico with Top Members of the Local Network

Silicon-Valley-Day-MexicoOn September 9th, the Endeavor Global and Endeavor Mexico teams co-hosted a a Silicon Valley Day event with Prezi, ZenDesk, Posible, 99 Designs and other top brands at the Monterrey Institute of Technology. The event aimed to bring Silicon Valley-level innovation and dialogue to Mexico by gathering leading investors, industry experts and entrepreneurs – including many key members of the Endeavor network. Over 1,500 participants turned up for the day of panel discussions and networking.

The event featured speakers representing Latin American interests from premiere tech comapniess and venture capital firms interested in promoting entrepreneurship and investment in Mexico. Ed Lee, Mayor of San Francisco, delivered the day’s opening remarks by pointing out the strength and importance of Mexico’s relationship with Silicon Valley, where Mexican investors contribute nearly $2 billion a year to the region’s economy.

During the event, Endeavor Mexico moderated a panel on venture capital that  included entrepreneur Arturo Galvan, founder of mobile content developer Naranya, and Investor Network partners Pepe Villaltoro of CrowdFund, Hernán Hernandez of Angel Ventures Mexico and Luis Cervantes of General Atlantic. A networking event that closed the night also brought out a number of Endeavor Entrepreneurs and representatives from their companies.

Learn more about Silicon Valley Day by clicking here.

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A panel discussion on Silicon Valley and entrepreneurship during SVD

South Africa's wiGroup Wins 2014 PwC Vision to Reality Award

wiGroup_Logo-MediumSouth Africa’s wiGroup was recently honored with the 2014 PwC Vision to Reality Award, which celebrates dynamic companies in the technology sector that have demonstrated growth and innovation. wiGroup’s mobile transactions application is leading the region’s point-of-sale sector by leveraging advancements in mobile technology to better serve consumers, merchants and retailers.

Multinational professional services firm PwC formed the Vision to Reality Awards program to acknowledge businesses that have best commercialized an innovative technology solution. The innovation must be designated as new, unique and a ‘game changer’, with demonstrated customer approval. The Awards program ultimately looks to encourage the best companies to step forward as role models, and to inspire future generations of technology startups. The winners are determined by an independent panel of judges recognized as experts in corporate technology and innovation.

Launched in 2011 by Endeavor Entrepreneur Bevan Ducasse, wiGroup’s in-store transaction platform, simply called WiPlatform, has been integrated with over 50,000 retail checkouts across South Africa and processed over three million transactions worth over $200 million. Bevan was selected into the Endeavor network in 2014 and has worked with a local team of expert Endeavor advisors to begin crafting expansion and business development strategies. Through Endeavor, Bevan has also been introduced to high-impact entrepreneurs in South Africa’s network.

Learn more about this year’s Vision to Reality Awards program by clicking here.

Argentina's Socialmetrix Expands Presence to the U.S. with Miami Office

SocialmetrixSocialmetrix, founded by Argentine entrepreneurs Gustavo Arjones and Martin Enriquez, recently announced that the company will expand its operations to the U.S. with a team in Miami, FL. With this expansion, the growing social media analytics and monitoring company is surpassing competitors as it looks towards establishing a global presence.

With a roster of Fortune 100 clients across 10 countries, including brands like Yahoo, Starbucks, Microsoft and PepsiCo, Socialmetrix offers efficient and in-depth social media analytic services via its two product platforms, Eventia and Echo. The company provides technology that harnesses the power of social conversations, monitoring digital chatter and analyzing it for clients so that they can better understand their brands and customer base. Socialmetrix’s mission is to combine the best in product technology, local expertise, and professional services to serve an ever-expanding social marketplace.

The company’s new Miami office is focused on business development efforts that will help the entrepreneurs access more opportunities for growth in the U.S. It will be the their third office outside of Argentina, with teams already based in Mexico and Brazil. Martin Enriquez, the comapny’s CEO, will be responsible for managing the new venture.

“We have chosen Miami to start this new expansion effort because for many years Miami has been a crucial business hub for Latin America and the U.S. Hispanic market,” said Martin in a statement. “Many of our current clients have their pan-regional headquarters in Miami, thus, being there is the best way to continue assisting them and grow together.”

Since joining the Endeavor network in 2010, the entrepreneurs have received critical mentoring support from expert advisers along with introductions to high profile investors. In addition, the team has participated in Endeavor talent programs that seek to provide professionals with on-the-ground entrepreneurial experience, such as the EY Vantage Program.

Read more about the company’s announcement by clicking here

Greece's Hellas Direct Named a National Champion by the European Business Awards

Hellas DirectThe European Business Awards, an annual honor that recognizes innovation and ethics in the regional business community, recently named Greece’s Hellas Direct to its rankings. Along with a selection of businesses representing more than 30 European countries, Hellas Direct joins a list of champions whose success and economic impact have helped foster a vibrant network of entrepreneurs and founders.

Founded by Endeavor Entrepreneurs Alexis Pantazis and Emilios Markou in 2011, Hellas Direct is Greece’s first direct-to-consumer online car insurance company. The entrepreneurs saw an opportunity and a need for an innovative, affordable model in the billion-dollar Greek car insurance market. By leveraging the latest technology, Hellas Direct offers premium customer service with more affordable rates than its competitors. The growing company now employs more than dozen people and continues to expand its customer base by offering an alternative to traditional insurers.

This honor brings Hellas Direct into the ranks alongside hundreds of other thriving business ventures recognized every year by the European Business Awards. Since 2007, the Awards have engaged with over 17,000 organisations across the continent, touching on industries ranging from fashion and technology to engineering and manufacturing. Participating businesses have represented a combined turnover of over €1 trillion (or over 8% of the EU’s GDP) and employ nearly 2.7 million people.

Since joining the Endeavor network in 2012, Alexis and Emilios have been provided a board of local advisors with expertise in the industry, helping the team develop their business model and expansion strategies. The entrepreneurs have also met with top mentors in the network as well as potential international investors.

See the full list of this year’s honorees by clicking here.

Colombia's Ecoflora Achieves Milestone with First Colombian Biopesticide Approved for U.S. Market

Colombia’s Ecoflora, founded by Endeavor Entrepreneur LogoEcoflora2Nicolás Cock Duque, recently achieved an industry milestone with its CapsiAlil agropesticide, the first Colombian product of its kind to be approved for sale by the U.S. Environmental Protection Agency. This news illustrates the potential for high-impact entrepreneurs in emerging markets to innovate industries and create products that can have global appeal.

One of several agro-product offerings developed by Ecoflora, CapsiAlil is a repellent and natural insecticide produced mainly from active ingredients found in several varieties of plant families. The product is unique in its management of insects in a wide variety of crops, from coffee to corn, with organic, non-toxic and plant-based ingredients. Ecoflora has been a pioneer in its sector in Latin America dedicated to the development of innovative solutions for the effective and sustainable protection of crops based on active substances obtained from botanical biodiversity.

“This is a very significant achievement for our company, our researchers and for the country in general, because it demonstrates that Colombia has the ability to deliver high added value and world-class technological innovations,” stated Nicolas in a statement.

Originally a family-owned flower business established in 1998, Ecoflora presented Nicolás – a civil engineer by trade – with the opportunity to develop commercial and sustainable products for the horticultural industry. By 2012, the company had over 15 major products in its portfolio, ranging from EdiBlue, a food and beverage colorant, to Myrica Waxm, a berry extract that can be used as a base in cosmetics and soaps. Having struck partnerships with universities, government institutions and laboratories to develop its products and promote agricultural research, Ecoflora is uniquely positioned to bridge barriers to scale in the region and take its niche market to a global stage.

Since being selected as an Endeavor Entrepreneur in  2007, Nicolás has been an active network member, receiving  local publicity support and mentorship while also participating in the eMBA and G-Lab programs, the 2013 Endeavor Summit, and more.

Read more about the news by clicking here.

In Memory of Endeavor Mexico Board Member Bernardo Minkow

Bernardo_MinkowBernardo Minkow, Endeavor Mexico Board Member and active contributor to the network, passed away earlier this month. Below, Endeavor Mexico’s Managing Director Pilar Aguilar shares her thoughts and memories of Bernardo’s support of Endeavor through the years.

In 2010, when Fernando Fabre first approached me about the possibility of serving as Endeavor Mexico’s MD, the first thing I did was find out who was sitting on the Board of Directors. I figured I had to decide whether I would take the job even before it was offered, since I knew that during the interview process I was going to be talking to some of the most important business people in the country.

I was not surprised to find Bernardo serving on the board; I knew him from my days at McKinsey & Company  as the “rain maker” – he was the partner that managed the firm in Mexico. I first met Bernardo in 1991, when I graduated from college and was a fresh new Business Analyst at McKinsey & Company in Mexico City. At the time, I saw him as a pretty intense, intelligent, and somewhat scary partner.

At Endeavor, Bernardo became my friend and a trusted advisor. As an organization, we were very lucky to have him as a board member. I was even luckier to have our paths cross again. Bernardo has served as a board member for Endeavor Mexico since 2009. His contributions kept us focused on building the best network of the high-value and high-impact entrepreneurs. He was very focused on establishing and measuring key performance indicators to assert the effectiveness of Endeavor Mexico. Also, he pushed us towards building the best group of mentors and advisors. Thanks to his guidance, we established a process for portfolio evaluation and tailored specific Endeavor services for many of our entrepreneurs. In addition, Bernardo served on the board of HDS, an Endeavor company, from 2011 to 2013.

Thank you Bernardo, you will be greatly missed.

About Bernardo Minkow

After graduating from the Mexican National Autonomous University (UNAM) with a degree in Electrical Mechanical Engineering, Bernardo went on to earn a Master of Science in Electrical Engineering from Massachusetts Institute of Technology (MIT) and a MBA from Harvard Business School. After earning his MBA, he entered McKinsey & Company where he worked for nearly 25 years, eventually becoming a Senior Partner  and Director of its Mexican operations. Bernardo specialized in energy (oil and electricity), telecommunications, airports, banking, water, and tourism. He was also involved in the privatizations of Telmex, Telebrás, Mexican banks, and Mexican airports.

Subsequently, Bernardo was a partner at the real estate developer Del Parque S.A. and the investment bank Promecap S.C., where he focused on aviation and real estate development. He joined the Endeavor Mexico board in 2009.

Lebanon's Mosaic Marble Honored by the Preservation League of New York for Restoration Efforts

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Lebanon’s Mosaic Marble, founded by Taline Assi, was recently honored by the Preservation League of New York for the company’s work in restoring the landmark Williamsburg Savings Bank in Brooklyn, NY. In 2010, Mosaic Marble was selected as the official mosaic design company to support the building’s preservation efforts and, after two and a half years of restoration work worth nearly $18.5 million, the building was transformed into a grand event space. This honor stands as a testament to Endeavor Entrepreneurs whose unique businesses are making an impact around the world.

As New York’s statewide preservation organization, the Preservation League of New York State works to protect the city’s cultural heritage by promoting historic preservation to revitalize communities, celebrate heritage and enrich lives. In order to recognize projects that are demonstrating best practices in preservation, the League’s “Excellence in Historic Preservation” award was given to Mosaic for its efforts in restoring the building’s intricate flooring alongside  a team of internationally renowned architects and designers.

Completed in 1875 and recognized by New York’s Landmarks Preservation Commission, the Williamsburgh Savings Bank had fallen to neglect until it was purchased in 2010 to be converted into a premiere banquet and event space. Through the vision of the new owners and the efforts of the team of skilled artisans, the building is once again an icon of the city’s architecture and history.

Learn more about the news by clicking here.

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Inside the bank building during the renovation process

Entrepreneurship Ecosystem Insights Newsletter – September 2014

The September 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Endeavor Investor Network's Latin American Venture Forum Gathers 160+ Entrepreneurs and Investors in Bogotá

LatAm Venture ForumEndeavor Global and Endeavor Colombia hosted the inaugural Latin American Venture Forum in partnership with Bancoldex. This event gathered over 30 of the most active regional funds in Colombia for a day of content, discussion and networking. The event showcased top members of the network, including many Endeavor Entrepreneurs and candidate companies active in Latin American  countries including Argentina, Brazil, Colombia, Mexico and Peru. In total, over 160 participants attended the day-long forum.

The day started with an “Entrepreneur Session” moderated by Endeavor mentor and attorney Dan Green of Greenberg Traurig, who provided attendees with insights on the fundraising process. The first session featured Endeavor Entrepreneurs Andrés Angulo (CampoAlto), Nicolás Cock (Ecoflora), Kenneth Mendiwelson (Refinancia) and Endeavor candidate Sebastián Obregón (Enmedio), all of whom discussed their different paths to growth capital. The second session focused on venture capital firms, with Esteban Mancuso (Velum Ventures), Diego Serebrisky (Alta Ventures Colombia), and Eduardo Amadeo (Nazca Ventures) highlighting areas of focus when considering a potential investment.

In conjunction with the session, two panels were held for investor attendees that focused on opportunities for cross-border partnerships and innovations in payment and credit systems. The latter panel featured a range of entrepreneurs working in the digital payments space, including Kenneth  Mendiwelson (Refinancia), Jose Velez (PayU),  Claudio del Conde (Kichink), Adolfo Babatz (Clip) and Andres Ramirez (Banlinea). They discussed innovations in the sector and also provided their views on the industry’s outlook over the next few years.

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A panel discussion during the forum

A subsequent panel featured representatives from Click Delivery, an online food delivery service, and Axon, a venture capital firm that invested in the business. With more than 3,000 restaurant affiliates and more than 2.7 million visitors per month, Click Delivery positioned itself as an industry leader in Latin America. Delivery Hero, an international food delivery company based in Berlin, acquired the majority of Click Delivery in 2014. The panel focused on the formation of the deal and Click Delivery’s exit, which ultimately gave Axon a return of four times on its investment.  Jose Calderon, CEO of Click Delivery, shared his experience negotiating with Axon and leveraging LinkedIn to find strategic investors.

During the afternoon, over 520 formal speed-networking connections were made during two hours of one-on-one conversations between Endeavor Companies and participating investors. In addition, Leandro Simao, Endeavor Entrepreneur and CEO of Brazil’s Bebê Store, gave a keynote address to the attendees following the company’s recent investment from Endeavor Catalyst.

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Entrepreneurs and investors networking session

World Economic Forum Report on High-Impact Entrepreneurs Highlights Endeavor's Role and Research

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The World Economic Forum recently released a new report titled “The Bold Ones – High-Impact Entrepreneurs Who Transform Industries” that takes an in-depth look at the power of high-impact entrepreneurs and their role in transforming economies. Drawing from surveys of over 600 entrepreneurs in EY’s Entrepreneur of the Year program as well as research from Endeavor Insight, the report seeks to better understand how successful companies accelerate access to new markets and become scalable businesses that create high-value jobs.

In particular, the report found that the over 600 companies in the sample (1/10,000th of the total number of U.S. companies) have created over 160,000 jobs in just the last two years (nearly 1/20th of the total U.S. economy). These ventures have outperformed comparable financial indices by a substantial margin and have created significant wealth for owners, employees, and customers. In addition, the report features insights from Endeavor CEO and co-founder Linda Rottenberg, who is recognized as an early pioneer of the high-impact entrepreneurship movement.

Read and download the full report by clicking here.

Endeavor Uruguay Gala Brings Together 750+ Network Members and Regional Influencers

EndeavorUruguayEndeavor Uruguay‘s annual Gala brought together more than 750 of the local network’s top stakeholders, including entrepreneurs, business leaders, investors, policy makers and more. With over 100 local and international companies represented,  the event also received coverage in a number of national media outlets, positioning itself as one of the top networking and entrepreneurship-focused gatherings in the country.

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The Gala attracted some of Uruguay’s most influential government and policy officials, including Vice President Danilo Astori, US Ambassador Julissa Reynoso, Presidential Candidate Pedro Bordaberry, and Minister of Industry, Energy and Mining Roberto Kreimerman. The night of networking and discussion also included an interview with Endeavor Argentina Board Member Gustavo Grobocopatel, one of Latin America’s top business leaders and president of agro-industrial giant Grupo Los Grobo. In addition, an Emerging Entrepreneur of the Year Award sponsored by EY was awarded to entrepreneurs Álvaro García, Ruben Sosenke and Ariel Burschtin, founders of Uruguay-based food delivery platform PedidosYa.

Watch a summary video of the event below or by clicking here.

September 2014 Newsletter

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To view Endeavor’s September newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

2014 PiLA Field Report: Exploring New Horizons with Endeavor Argentina

Every summer, top graduate and undergraduate students in the engineering, business and computer science fields spend a summer working with an Endeavor and Endeavor Entrepreneurs to assist in technical work assignments. These students are driven by interests in bridging technology and society through innovation, design, and entrepreneurship. Following is a post from Wade Prospere, a PiLA participant who spent the summer working with the Endeavor Argentina office. 

After graduating from Cornell University in 2010 and working as a Financial Analyst for Merrill Lynch for three years, I joined Endeavor Argentina in 2013 as a Princeton in Latin America fellow. I was drawn to Endeavor’s commitment to entrepreneurship as the key to sustained economic growth in emerging markets, and I wanted the opportunity to personally contribute to Endeavor’s impact. Working for Endeavor served as an incredible opportunity to learn—both from inspiring entrepreneurs and mentors, and from an amazingly talented global team.

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Wade and the Endeavor Argentina team

Upon arriving in Buenos Aires in June of 2013, I joined Endeavor Argentina’s 8-person Search and Selection team. The Search and Selection team is responsible for driving Endeavor’s selection process, which involves: screening entrepreneurs, conducting candidate interviews, facilitating entrepreneur/mentor interaction, writing comprehensive company profiles, and preparing entrepreneur presentations for national and international panels. The most rewarding aspect of my Search and Selection role was personally meeting and working with Argentina’s most remarkable entrepreneurs. I worked with businesses in industries ranging from technology to healthcare to real estate. Each project gave me insight into the issues and challenges Argentina’s entrepreneurs face, and the opportunities that can arise from Endeavor’s powerful set of resources.

At the heart of Endeavor’s model is an unrivaled network of seasoned business leaders. These mentors help entrepreneurs unleash their potential by providing guidance, strategic advice, and inspiration. My greatest learning experiences from working at Endeavor Argentina came from business strategy meetings between entrepreneurs and mentors. Absorbing market-specific advice from mentors helped me frame candidate enterprises and address how Endeavor’s resources could help catalyze their businesses. Despite operating in a default-ridden country, Argentina’s entrepreneurial ecosystem is extremely robust, and it’s obvious to me that Endeavor has played an instrumental role in promoting entrepreneurship as a tool for development throughout the country.

On a personal level, working at Endeavor has been the most enriching experience of my life to date. Living in a foreign country and interacting daily with high-impact entrepreneurs provided a truly unique learning experience. Endeavor Argentina’s network and local staff could not have been more impressive. It was inspiring to see such a diverse group of leaders collaborating to use entrepreneurship as a building block to strengthen the economy. This perspective, along with the relationships I formed working at Endeavor, will forever affect the way I evaluate impact.

Endeavor’s model gains its power from its vast global network, which serves to select, mentor, and accelerate the best high-impact entrepreneurs from around the world. As Endeavor’s network grows, the resources available to entrepreneurs and mentors become more robust, and Endeavor’s ability to impact development becomes more profound.

Social Media Highlights from the 2014 Harvard and Stanford Leadership Programs

Participating Endeavor Entrepreneurs at the 2014 Harvard and Stanford programs shared their experiences on Twitter during the week of classes, highlighting everything from networking sessions to lectures from leading university faculty. See below for excerpts from the digital conversation.

90+ Endeavor Entrepreneurs Participate in Week-Long Leadership Programs at Harvard and Stanford

In August, Endeavor partnered with Harvard Business School and Stanford University to organize a week of programming focused on leadership and management training for a select group of high-impact Endeavor Entrepreneurs. During the two programs, the entrepreneurs stayed on campus to engage in several days of guest lectures and discussion groups custom-designed by university faculty. The participants were given access to the world-class resources and expertise of each leading institution while also networking and sharing insights with their fellow entrepreneurs.

HBSHarvard’s “Scaling Entrepreneurial Ventures” Program took an in-depth approach to helping participating entrepreneurs identify opportunities for innovation and growth in their own businesses. Entrepreneurs from 13 Endeavor countries took courses with top HBS professors on topics ranging from sales and marketing to valuation and financing. The participants were also given assignments that called on them to evaluate their own ventures and integrate key learnings from the program. In addition, a pitch competition was organized to give the entrepreneurs a chance to collaborate and present their ideas to faculty and to one another.

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Stanford_logo-1Located in the heart of Silicon Valley, the leadership program at Stanford University drew from the best of Stanford GSB’s world-class faculty and network to help Endeavor Entrepreneurs learn to build leading companies in a competitive global marketplace. Participants from 11 Endeavor countries had the chance to develop core competencies that could help them transform their companies, manage ongoing growth and improve corporate culture. In addition, the program focused on helping the entrepreneurs identify opportunities and challenges to scale, using a discussion group format to address specific business challenges. The Stanford campus and the surrounding environment of Silicon Valley also provided an extraordinary setting with access to the area’s leading tech hubs. 

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eMBA 2014 Field Report: Making A Transition With Colombia's Refinancia

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Keisuke Arimoto, a member of ESADE’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Colombia’s Refinancia

Before meeting Refinancia, I have always been interested in cultures of Latin America as I have been travelling frequently there and learning Spanish almost every time I had vacation. One day, I have come to think “what if I could connect my hobby with professional experience?” with hopes that being a Japanese speaking English, Spanish, and Japanese with international business experiences would be provide a niche! This question as well as a motivation to become an entrepreneur in the future took me to an MBA in Barcelona after 7 years in the financial industry, and found an answer at Refinancia realizing my sueño (dream.)

Why Colombia?

When I had my “garden leave,” after resigning from my previous work, before the MBA, I went to Colombia to spend 40 days, travelling around the country after following recommendations of backpackers I had met in previous years. It was easy for me to make a decision to come back for a different reason, a work experience, given the warmness and sincerity of people as well as amazing touristic attractions including a beautiful city of Cartagena in the Caribbean coast.

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Keisuke with the team at Refinancia

What kind company is Refinancia?

It is a solution provider in the area of consumer finance with two main businesses, NPL and merchant payment guarantee services. The company was establish in 2005 by an MBA graduate from Harvard Business School, Kenneth Mendiwelson, and has been enjoying a tremendous growth to have over 900 employees in Colombia and Peru. Given its success to capture the growing niche market, Refinancia has been recently acquired by NASDAQ listed US based specialty financing company, Encore Capital Group, mirroring an entrepreneurial success story we would learn in our MBA classroom. Hence, Refinancia is in an extremely interesting stage where it is transitioning from an entrepreneurial company to a corporate entity to incorporate established know-hows and structure from the parent company.

The traditional and original business is an NPL (non-performing loan) business in which Refinancia becomes an investor of a consumer NPL portfolio by purchasing it from banks. In this transaction, banks benefit from removing bad assets from its balance sheet for an income from the sales while the borrowers benefit from gaining opportunity to improve their credit score by having the second chance of repayment, instead of being recorded as an insolvent borrower. As the consumption and loan growth have been growing rapidly along with the economic growth, Refinancia has been the leader in providing such financial solutions in Colombia and Peru.

The merchant guarantee business is a relatively new business yet fully leveraging Refinancia´s core capabilities nurtured in its NPL operation, providing point-of-sales solutions to consumers while Refinancia guaranteeing payment by the consumers.

As Refinancia has been rapidly establishing its foot print in financial industry, it has been attracting many talents from other large banks and financial service companies. Hearing the opinions of those who recently joined Refinancia from other banks, it is quite interesting that Refinancia has size meaningful enough to attract large businesses and talents yet maintains an innovative and entrepreneurial environment where countless new projects have been in discussion and being launched to fuel further growth.

In terms of people, they are very friendly and approachable from young people to senior management including the founder as I had expected from my previous travel experiences. I also go out to share personal time with colleagues of Refinancia outside of work including playing football. The quality of people working here are very high with high disciplines and inspirations to work in an entrepreneurial and challenging environment.

What is my project?

The company has many projects in discussion before hitting the market. My project is to create a model by which the company prioritizes initiatives, and prioritize the current initiatives. Having a means to prioritize initiatives has been becoming ever more critical as there have been needs to select initiatives with large market potential with sustainable profitable growth out of many initiatives on the table. This is especially a case as Refinancia, after the acquisition by Encore, has been in a turning point from an entrepreneurial stage to a corporate stage so that the use of its capital needs to be logically explained to the parent company.

The project has been requiring many skills learned in the MBA and the previous work experiences. First, financial analysis including accounting and valuation analysis are a must as all the projects need to be put in economic figures for comparisons. Second, communication skills and sales (which include Spanish!) are essential as my job cannot be done without any help of commercial team and financial team of Refinancia. Also, it is important to logically explain the top managements about the model so I would say a presentation skill is also a key to apply.

Overall impression

In many aspects including the entrepreneurial environment (despite of the recent acquisition), the stage where the company is in, the business, the people, the project, and the Latin American business experience, I have been very satisfied with the internship. Supported by the many, I am committed to complete and deliver the presentation in a few weeks and keep on enjoying the charm Colombia!

 

2014 PiLA Field Report: A Summer Immersion with Endeavor Chile

Every summer, top undergraduate students in the engineering and computer science departments spend a summer working with an Endeavor and Endeavor Entrepreneurs to assist in technical work assignments. These students are driven by interests in bridging technology and society through innovation, design, and entrepreneurship. Following is a post from Matt Doup, a PiLA participant who spent the summer working with the Endeavor Chile office. 

There’s a common expression in Spanish: “tírate a la piscina”, roughly translating to “throw yourself in the deep end”. In many ways, that phrase perfectly sums up my experience at Endeavor Chile. Working in a second language is challenging. Working in a second language with the country’s top entrepreneurs and leading business professionals while analyzing hundreds of business models is something entirely different. That prospect is doubly intimidating when, on day one, one can barely understand a word spoken at the weekly office breakfast, only to discover that Chileans don’t, in fact, speak Spanish (I don’t know how I had overlooked that minor detail). They speak Chilean: a hyper-fast , sing-song-y dialect punctuated by pseudo-English words like “cachai” (you catch?), or “po” (no meaning whatsoever, yet added onto the end of most sentences).

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Matt with the Endeavor Chile network members

I nonetheless thought the task of identifying what Endeavor calls “High-Impact Entrepreneurs” would be somewhat straightforward.  Chile, on paper, is an entrepreneurial mega-hub. Not only have open markets and business-friendly tax policies* resulted in a flowering of disruptive home-grown start-ups, but innovative government initiatives like Start-Up Chile, a program that provides entrepreneurs from around the world with US$40K to bootstrap their companies in Santiago, have begun to attract gloabl talent, resulting in an environment that many are referring to (perhaps optimistically) as Chilecon Valley. The reality that I found, however, is that “culture” tends to lag behind policy in Chile: the country is characterized by pervasive social conservatism, fear of risk-taking (entrepreneurs often operate 5-6 businesses simultaneously to hedge their bets should one fail), and, like much of Latin America, rampant classism. Couple these social norms with two major structural factors— the lack of quality public education, and vulture, rather than venture, capitalists, and the future of entrepreneurship in Chile looks far less rosy.

Enter Endeavor.  Endeavor holds a critical place in the Chilean ecosystem— one that is helping to break down psychological barriers through storytelling: the brother-sister duo who turned a healthy home-made cookie recipe into the country’s leading on-the-go snacks brand; the three friends who saw an opportunity to beat out McDonald’s at the local level, developing a franchise spanning five brands and with operations in Chile and Brazil; two brothers who identified inefficiencies in shipping and maritime logistics in the Patagonia, becoming the first company in the region to provide these services;two sisters who were able to take their father’s  clothing store and turn it into the premier children’s clothing brand in Chile.  I witnessed first-hand how these narratives collectively served to inspire Chilean entrepreneurs to action: both in taking more risks and dreaming bigger.

Some of the highlights from my year as a PiLA at Endeavor Chile included: attempting (and failing) to institute a Monday-morning breakfast burrito tradition; working with aspiring high school-aged entrepreneurs at a three-day youth camp in Chilean wine country; hiking the infamous “W” in Torres del Paine National Park in the Chilean Patagonia; serving as the “office elf”, dancing while handing out presents at the office holiday party (I will never quite get used to 90-degree Decembers); gorging on “empanadas de pino” at our office party to celebrate Sept. 18 (Chilean Independence Day); losing and subsequently having to replace my passport; bicycle wine tours and Puerta Cerradas in Mendoza; being known permanently as “Max” at Starbucks Chile; developing an unhealthy obsession for “palta” (creamy Chilean avocados); being made fun of to no end by coworkers for my love of said palta.

When not voraciously consuming palta, traveling, or perfecting my elf-dancing routine, I focused on carrying out the Endeavor mission, working with almost every type of company under the sun: stevia production, baby E-commerce, mining technology, cell phone cases, a sushi restaurant, even wastewater management using earthworms! Because of the small size of the office, I was fortunate be given the opportunity to take the reigns on a number of aspects of the Search & Selection process, the culmination of which was opportunity to lead the preparation of two companies for the International Selection Panel in Florianopolis, Brazil. Overall, it was tremendously rewarding to have played a significant role in Endeavor’s selection of nine entrepreneurs across five companies during my year in Chile! I’ve gotten very close with a lot of the Endeavor Chile staff, as well as a number of the entrepreneurs that I worked with. And I’m proud to say that I only let one “cachai” slip during my entire year there.

eMBA 2014 Field Report: Exploring A New Landscape with Greece's Daily Secret

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Chafic Mourad, a member of Harvard Business School’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Greece’s Daily Secret

eMBA_webWorking as a strategy consultant before joining Business school, I wanted to undergo a different experience during my summer internship. I was searching for a business role in a start-up where I can learn from the daily challenges entrepreneurs face. I also wanted the start-up to be small enough so I can effectively contribute to the growth of the company.

Daily Secret is a subscription newsletter service delivering curated secrets and gems in cities around the globe to its subscribers. The secrets cover food, art, travel, entertainment and fashion industries. I was interested in joining Daily Secret for two main reasons: First, it’s a small firm with an international span and huge growth potential. Second, I found the company’s product very appealing given that I have always enjoyed discovering and shortlisting restaurants, bars and venues whether in my hometown Beirut or in other international cities.

The company has two offices, one in New York and the other in Athens. It was undergoing important changes in its organizational structure.  Most members in the US office, which I joined, were new to the company and the new CEO had taken the lead few weeks before my arrival. The energy level was high and there was a definite momentum to reach the new short and long term goals set by the CEO.

I was mainly involved in business development. During the internship, I developed a plan to define the different products which can be offered to partners or ad buyers, structure the selection process of these partners and generate a target list of potential clients. Witnessing the closing of some deals with partners suggested in the plan was the most rewarding part of the internship. I was also able to contribute on the product front as Daily Secret was expanding into new markets.

Looking back, my internship at Daily Secret was definitely a great learning experience. I was fully responsible of my deliverables, set my own milestones and led the work and development of the plan with limited resources and in a very dynamic environment. I had the opportunity to learn from the other members of the team, most of them having previously worked in other start-ups. Helping them in their daily tasks was truly beneficial. Going forward, I will be returning to campus in less than a month, bringing back my entrepreneurial experience to share with my classmates and build on during the next recruiting cycle.

Endeavor Convenes Managing Directors from 20 Countries for Leadership Retreat

During the  54th Endeavor International Selection Panel in New York, Endeavor convened managing directors from all 20 of its affiliate offices for an annual MD Retreat. The aim of the program was to foster collaboration among Endeavor’s growing global network of offices and to provide essential leadership and communications training that will keep Endeavor at the cutting edge of high-impact entrepreneurship.

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Collaborating in a workshop at the Bain offices

The week-long retreat consisted of a series of workshops and teamwork exercises focused on promoting innovative and creative processes among Endeavor staff around the world. In particular, representatives from the Drucker Institute led a series of sessions on leadership and management techniques. Representatives from Bain & Company, an Endeavor sponsor, held workshops focused on talent retention and development while also offering to host most of the week’s events at their New York City offices. Ultimately, as Endeavor works to expand to 25 countries by 2015, the retreat allowed MDs from every region to better align on the organization’s core goals, operations and brand.  

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Participating in team building exercises

31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City

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New York, NY – August 14th – Endeavor selected 31 high-impact entrepreneurs leading 21 companies in 15 countries at its 54th International Selection Panel.

Endeavor now supports 948 High-Impact Entrepreneurs from 606 companies across 20 countries. The entrepreneurs were chosen from among 29 candidate companies at a panel held from August 11-13th for the first time in New York City.

A number of pioneering entrepreneurs and groundbreaking companies are part of this new class, including Saudi Arabia’s Lateefa Alwaalan, the first female candidate from the country and founder of Arabic coffee producer Yatooq, and Argentina’s Emiliano Kargieman, founder of nano-satellite developer Satellogic.  Endeavor Spain also welcomed its first entrepreneur, Ignasi Vilajosana of Worldsensing, into the network.

The International Selection Panel (ISP) is the culmination of a rigorous multi-step selection process. At the ISP, top local and international business leaders interview candidate companies about their businesses and high-impact potential, and then vote on whether or not the candidates should become Endeavor Entrepreneurs.

“This was our largest panel ever and resulted in one of the most diverse classes of high-impact entrepreneurs selected by Endeavor,” said Endeavor co-founder and CEO Linda Rottenberg. “Not only are they innovating economies from Chile to Greece and Saudi Arabia to Indonesia, they are showing the world that excellent talent and big ideas can thrive anywhere with the right mix of support and mentorship.”

After their selection into the network, Endeavor provides the entrepreneurs with customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. Endeavor Entrepreneurs have had an impressive track record of creating jobs, building sustainable growth models, and inspiring future generations of leaders in their home countries.

This ISP was supported by Barclays and EY, both global sponsors of Endeavor. Barclays welcomed the entire panel to their New York offices for orientations and for interview day on August 12th.

Endeavor will be hosting two more ISPs in 2014. Locations will be Istanbul, Turkey and Miami, FL. Brief descriptions of the newly selected entrepreneurs and companies follow.

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ISP Attendees at Barclays’ offices

ARGENTINA

Entrepreneur: Emiliano Kargieman

Company: Satellogic (www.satellogic.com)

With a product that is out of this world, Satellogic is bringing space down to earth. Before Satellogic, the earth observation market relied on multi-million dollar, monolothic hardware incapable of real-time data streaming. Satellogic is building a constellation of inexpensive, mass-produced nano-satellites that disrupts this paradigm. With a fully deployed constellation, Satellogic will be able to provide commercial-grade resolution images in real-time data streams, at the fraction of the current cost, thus reducing barriers to obtain real-time satellite data and democratizing access to space-based services. The result is an endless universe of possible applications, from estimating revenue by tracking cars in a supermarket parking-lot, to detecting developing forest fires. Satellogic will transform Big Data from Space into a fundamental part of daily decision making for all branches of government, organizations, industries, and individuals.

CHILE

Entrepreneurs: Matias Sjogren, Rafael Concha

Company: BioFiltro (www.biofiltro.cl)

BioFiltro has harnessed the power of mother nature to create an energy-efficient, chemical-free, low-cost, and odorless wastewater treatment technology. Known as BIDA (BioFiltro Dynamic Aerobic), BioFiltro’s patented bioreactors use earthworms and bacteria to treat industrial wastewater without the use of chemicals and at 80% less energy than conventional systems. BIDA transforms wastewater into clean water for agricultural use in one-eighth the time, 30% the CapEx, and 70% the OpEx of traditional technologies. BioFiltro’s expansion into some of the most regulated markets has impacted the way wastewater is filtered and influenced public perception to thinking of wastewater as a resource.

Entrepreneur: Gonzalo Muñoz

Company: TriCiclos (www.triciclos.cl)

Reduce, recycle AND recurring revenue is TriCiclos’ mantra. With developed countries increasingly implementing extended producer regulations (EPR), the responsibility for waste management has shifted from municipalities to the very corporations that generate the waste – not that most Latin American governments offer recycling collection services to begin with. By providing Clean Points (CPs) – recycling stations where individuals can deposit recyclable consumer materials – and managing waste management logistics efficiently, TriCiclos is not only the most reputable post-consumer recycling company in Chile, but also the only one capable of tracking and monetizing EPR compliance. The CPs – 40-foot metal containers capable of receiving, processing and compacting up to 25 different types of materials – are placed in companies’ parking lots or municipal areas. They are forty times cheaper and 20% more efficient than other recycling platforms in Chile because of the sophisticated pre-processor unit. Notably, TriCiclos is the only company in Latin America that is a “B Corp” and can certify that over 90% of materials put into its social clean points will actually be recycled.

EGYPT

Entrepreneur: Chris Khalifa

Company: Zooba (www.zoobaeats.com)

If you think food trucks are the hottest new craze, it’s time for a history lesson: Egyptians have been rolling their wooden food carts around the dusty streets of Cairo for decades. Unlike their Lebanese and Turkish counterparts, Egyptians have struggled to make traditional foods relevant and trendy, resulting in a national cuisine that is underserved locally and nonexistent globally. Zooba is the first restaurant chain to give classic Egyptian street foods a gourmet twist, a concept delivered through a social dining atmosphere designed to appeal to Egyptians’ shared sense of community. With three thriving locations throughout Cairo, founder Chris Khalifa is ready to expose the world to his local cuisine.

Entrepreneurs: Rawiah Abdallah, Mostafa Saeed

Company: Qabila (www.qabila.tv)

Qabila is an Egyptian alternative media studio founded to provide value-based and entertaining content that explores society’s most pressing issues in a fun and accessible way. The company began in the throes of the Egypt’s 2010 Revolution, when 15 friends banded together to create videos that explained democratic principles in entertaining Youtube videos. These videos quickly amassed a following, and earned the attention of some of the region’s most prestigious institutions, such as multiple UN agencies, the Arab League, and the Ford Foundation, who hired Qabila to produce public service announcement videos (PSAs) about issues like youth empowerment, environmental health, and sexual health. With its PSAs, short documentaries and feature-length documentaries, Qabila’s productions is on its way to consolidating its position as the leader for value-based content in the region.

GREECE

Entrepreneur: Thomas Douzis

Company: Ergon (www.ergonfoods.com)

Leveraging a network of over 150 independent, local, artisanal producers that create 600 products under the unified Ergon brand, Thomas Douzis, is reintroducing Greeks and foreigners alike to delicious Greek gastronomy. Since Greek cuisine is as much about people coming together over food as the food itself, Ergon created a line of affordable-luxury restaurants that are combined with functional grocery stores. The menu, created by executive chef Dimitris Skarmoutsos, previously a judge on the show Greek Master Chef, has been meticulously crafted with Ergon products to offer diners authentic recipes with a modern twist.

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CEO Linda Rottenberg moderating deliberations

INDONESIA

Entrepreneur: Antonius Taufan

Company: GiftCard Indonesia (www.giftcard.co.id)

In the game of cards, Gift Card Indonesia (GCI) is holding a royal flush. In Indonesia, corporate gift-giving is customary but unimaginative; companies seeking to reward their stakeholders struggle to do so in a way that is personalized and professional. GCI is redefining the gift-giving experience by creating end-to-end solutions for the burgeoning gift card ecosystem in Indonesia. In two short years, founder Antonius Taufanhas acquired some of Indonesia’s most prominent corporate clients who are seeking to distribute gift cards to reward their employees and stakeholders. While Taufan is leading a new way to incentivize corporate stakeholders in Indonesia, he has always set his sights on building an ecosystem for gift cards and alternative payments, primarily targeting the unbanked population.

JORDAN

Entrepreneur: Khalil Shadid

Company: ReserveOut (www.reserveout.com)

Before Khalil Shahid’s ReserveOut system revolutionized the way restaurants in the Middle East took reservations, customers had to call and request a time or risk showing up and  waiting for a table.ReserveOut’s electronic reservation booking and customer management system offers restaurants software to help them efficiently manage and record customer reservations, touchpoints, and preferences. The ReserveOut web and mobile applications enable online and mobile users to easily search and immediately reserve with venues that are part of the ReserveOut network.

LEBANON

Entrepreneur: Omar Christidis

Company: ArabNet (www.arabnet.me)

Want to catch the latest digital trends in the Middle East? Try ArabNet. In a region that boasts the highest growth rate of Internet usage in the world (16.7% according to the European Travel Commission), the digital economy presents a tremendous opportunity. To realize this potential, entrepreneurs, investors and digital professionals need to connect with and learn from each other. ArabNet serves as the platform to connect these stakeholders through its annual conferences, regional competitions, and online portal. With over 7,000 unique attendees of its events, ArabNet has established itself as the premier platform for everything digital in the Middle East.

Entrepreneur: Hind Hobeika

Company: Instabeat (www.instabeat.me)

Instabeat is the first and only display monitor that mounts on the straps of any swimming goggles, allowing swimmers to monitor their heart rate in real time through a color coded display on the interior of the goggles. The device is small, creates minimal friction with water, and provides key information without having the swimmer lose focus. Hind sees the technology as applicable to athletes beyond swimmers and plans to launch a Triathlon version (which would attach to sunglasses) in 2015. Having filled a gap in the global wearable technology industry, estimated to reach US$50B by 2018, Instabeat is in a position to scale rapidly.

MALAYSIA

Entrepreneurs:  Wai Hun See, John Lim, Naaman Lee

Company: Juris Technologies (juristech.net)

There are few businesses more recession-proof than the business of debt. Born from the debt recovery challenges facing banks during the 1997 Asian financial crisis, Juris Technologies developed an end-to-end software solution for the credit management process. In a market in which credit has been rising sharply for five consecutive years, Juris eases the burden on financial institutions by offering a complete suite of solutions that allows them to evaluate customers, approve loans, and recover debt. Because credit management requires active, ongoing collaboration between multiple players, Juris has created software platforms that encourage and facilitate external collaboration among all parties while layering onto existing systems and infrastructure.

MEXICO

Entrepreneurs: Tanya Moss, Eduardo Stolkin

Company: Tanya Moss (www.tanyamoss.com)

Tanya Moss puts the joy is joyas. Symbolized by its iconic butterfly motif, Tanya Moss jewelry lines are sophisticated accessory options for the modern woman, combining timeless taste with a modern edge. Tanya Moss products are made with premium quality materials, including precious metals and semi-precious stones. The brand is widely recognized by its iconic butterfly motif, which symbolizes the fun yet elegant designs that ensure the modern-day woman exudes confidence and style.

Entrepreneur: Carlos Frigolet

Company: Purafiltracion (www.purafiltracion.com)

Poor air in a New York subway station on a summer’s day is disgusting. Poor air in a control room of an offshore drilling rig is a multimillion dollar disaster waiting to happen. Many plants, particularly those in the Oil & Gas and Power Generation industries, release corrosive chemicals. If these chemicals enter the control room, they can damage and rust electronics leading to short circuits, the potential shutdown of the entire plant and possibly even deadly explosions. Purafiltracion sells systems that eliminates 99.5% of gas pollutants, ensuring clean air and extending the lifetime of the control rooms from six months in a harsh environment to 10 years. It also sells systems that maintain ideal temperature and humidity conditions in control rooms preventing equipment failures. With these systems, plant workers can finally breathe easy (and cleanly) at night.

Entrepreneur: Adolfo Babatz

Company: Clip (payclip.com)

With Clip, you’ll never have to tell a customer you don’t take their credit card again! Clip allows Mexican businesses to replace outdated POS systems with a sleek and easy-to-use piece of hardware that accepts any credit and debit card. The device seamlessly connects with an operator’s smart phone or tablet by fitting into the headphone jack of an iOS or Android device. The operator opens the free Clip app, enters the amount to be charged, and Clip charges a 3.6% transaction fee or 4.6% on installation payments. The reader is the first version in Mexico that includes a patented fraud protection program and chip reader, which is critical to the Mexican market, and Clip is only one of two companies in the world to have its own proprietary design for the reader (the other is Square).

MIAMI

Entrepreneurs: Michael McCord, Michael Laas

Company: LearnerNation (www.learnernation.com)

Michael Laas and Michael McCord are disrupting the corporate training market by making learning awesome in six languages with LearnerNation, a cutting-edge, cloud-based, adaptive learning platform with patent-pending technology. The e-learning platform is intuitive and offers progressive teaching tools, which increases information retention and performance. Counting MasterCard, LG, and Cartier as clients, LearnerNation is poised to be a breakout success story for the burgeoning tech ecosystem in Miami. With the global market spending an estimated US$62B on corporate training, LearnerNation has the opportunity to quickly gain market share and be a globally accessible platform.

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Candidates’ Day at GLG Group

SAUDI ARABIA

Entrepreneur: Lateefa Alwalaan  

Company: Yatooq (yatooq.com)

Yatooq, a Saudi Arabian company founded by Lateefa Alwalaan in 2011, makes it easier and faster to brew Arabic coffee, a spicy coffee central to all social gatherings in places like Saudi Arabia, Bahrain, and the UAE. When made traditionally, Arabic coffee takes 20-30 minutes to prepare and requires over ten steps, and numerous ingredients to complete. Yatooq’s coffee brewer and Arabic coffee blend reduce brew time (75%) and effort required while consistently producing delicious Arabic coffee. With Lateefa’s selection, Endeavor Saudi Arabia would welcome its first female entrepreneur to its portfolio, an exciting addition who could serve as an inspiring role model for the country’s entrepreneurial ecosystem.

Entrepreneurs: Kaswara Al Khatib, Soraka Al Khatib

Company: UTURN (uturn.me)

From satire to soaps, Uturn provides the entertainment Saudis really want. Uturn is a multi-channel network that produces and features local Saudi content, creating an online viewership community spread across several social media channels. Its original and aggregated content fills a void in the many a country where the traditional, government-controlled state broadcasters have failed to engage a young audience. Its award-winning content includes two of the longest running online shows in Saudi, engendering a devoted viewership of 2 million subscribers and followers – the largest in the region.

SOUTH AFRICA

Entrepreneurs: Dave Evans, Grant Rushmere

Company: BOS Brands (www.bosicetea.com)

All too often consumers are forced to choose between a healthy beverage and a delicious exciting brand. BOS Brands, a beverage business based in South Africa, offers consumers stylish, premium beverages that taste great without compromising on health. Harnessing locally produced rooibos as the main ingredient in its two beverage lines, BOS Ice Tea and BOS Sport, all products are high in health benefits, low in sugar, and contain no caffeine, colorants, or preservatives.

SPAIN

Entrepreneur: Ignasi Vilajosana

Company:  Worldsensing (www.worldsensing.com)

Worldsensing is pioneering the Internet of Things. With smart sensors that improve traffic management and infrastructure maintenance, Worldsensing has brought to the industrial and public sectors an efficient, easy method of data capture and analysis. Its traffic solutions help city administrators manage traffic and pedestrian movement, while industrial solutions support both safe infrastructure maintenance and seismic pipeline monitoring. It has integrated sensors in iconic cities and infrastructures around the world, including the streets of Moscow, Barcelona’s olympic stadium, and Stockholm’s main commuter train.  Named by the BBC and the Wall Street Journal as one of the companies to watch in the Internet of Things space, and highlighted in the European Commission’s Business Innovation Observatory report on Smart Living, Worldsensing’s groundbreaking technology will transform cities around the world.

TURKEY

Entrepreneurs: Başak Taşpınar Değim, Erol Değim

Company: Armut.com

Armut.com is Turkey’s first online market place connecting users and service providers. It features trustworthy, reviewed professionals who offer reliable price quotes. Armut is a pioneer for Turkey, and has innovated the global model by developing a proprietary algorithm that automates the service provider vetting system and user-provider matching process.

UAE

Entrepreneurs: Shahriar Khodjasteh, Shahin Khodjasteh

Company: Dubai Desert Extreme (DDE) (www.dde-me.com)

Dubai Desert Extreme (DDE) is a distributor and retailer of sporting goods in MENA. The company has exclusive distribution rights with major sports brands, including Giant, Topeak, New Era, and Volcom. DDE also sells this merchandise in its own retail stores in the UAE. In 13 years, the company has not only brought the biggest names in athletic apparel and equipment to MENA but also generated interest and involvement in sports in the region.

August 2014 Newsletter

August News InstagramTo view Endeavor’s August newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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Endeavor Indonesia Hosts Entrepreneur Networking Event With 500 Startups' "Geeks On A Plane" Tour

Indonesia logoEndeavor Indonesia hosted a local networking gathering for Endeavor entrepreneurs, mentors and network members featuring Geeks On A Plane (GOAP), an invite-only startup and investor tour organized by 500 Startups. The event brought together over 80 attendees to discuss the entrepreneurship landscape in Southeast Asia and connect with local stakeholders, positioning Endeavor as a leader in the space.

Organized by 500 Startups, a Silicon Valley-based  seed fund and startup accelerator, the GOAP tour convenes entrepreneurs, investors, and business leaders to learn about high-growth technology markets worldwide and explore cross-border opportunities. Taking the form of large networking events, the tour has reached across Europe, the Middle East, Latin America, Asia and North America.

Five Endeavor Indonesia Entrepreneurs and 15 entrepreneur candidates were in attendance, along with 16 mentors, 4 partners and over 40 representatives from GOAP. The Geeks on a Plane guest list consisted of top tech entrepreneurs and venture capital investors from around the world.  The entrepreneurs expressed the importance of Endeavor’s resources in allowing them exposure to a global network, while the VC attendees had the opportunity to meet with companies at a mature stage of scaleup growth.

During the course of the dinner, attendees had the chance to meet and network casually for four hours. Sati Rasuanto, managing director of Endeavor Indonesia, addressed the crowd with a short speech and welcomed all of the network members. 500 Startups founder and Endeavor mentor Dave McClure was also in attendance, and introduced GOAP as a medium for connecting ecosystems of entrepreneurship around the world.

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Attendees of the event networking over dinner

South Africa’s Vinny Lingham Announces Acquisition of Gyft, His Third Venture, By First Data

gyft_0Mobile gift card provider Gyft, founded by Endeavor Entrepreneur Vinny Lingham, recently announced its acquisition by First Data, a payment technology solutions provider. Based in San Francisco, Gyft has been boosted by recent funding and new merchant onboarding, with the expectation that First Data’s network will help it scale far beyond the 200 merchants it currently serves. As Vinny’s third company, this announcement demonstrates the success of Endeavor Entrepreneurs who launch multiple ventures and inspire future generations.

Founded in 2012, Gyft offers consumers a platform to purchase, gift, and redeem gift cards via their mobile devices. Traditional plastic prepaid cards lacked efficiency and face the risk of getting lost. Gyft makes redeeming these cards easier with reminder alerts and a mobile gift card “wallet,” making it cost-efficient for small and medium-sized enterprises to break into the prepaid card market. Widespread adoption of digital wallets has made Gyft an attractive option for many e-commerce giants, including Amazon.

This acquisition reportedly grew out of a partnership between Gyft and Clover, the mobile payments and point-of-sale startup that First Data acquired in 2012 for an estimated $54 million. Considered one the world’s largest card processors, First Data handles over $1 trillion annually across more than 6 million merchants. After a leveraged buyout in 2007 and reported losses following the recent recession, First Data has actively sought to modernize its payment services by acquiring technology companies. The recent Gyft news is part of a broader strategic plan for First Data, which has included acquiring Clover and cardless customer loyalty startup Perka.

Coming off a $6 million round of Series A funding, Gyft’s decision to join the First Data family stems from the company’s mission to become a leader in the digital payments industry. First Data’s backing will allow Gyft the necessary network to onboard more strategic merchants while providing First Data with access to key technologies and brand recognition.

“We started the company with a mission to digitize and transform the plastic gift card space,” said Vinny in a statement. “We don’t see this as an exit. We see this as a continuation of what we’re already doing but with a lot more resources.”

Vinny has been an Endeavor Entrepreneur since 2006 and Gyft is the third venture he has founded. Endeavor has connected him with expert mentors and introduced him to investors through the Endeavor Investor Network, allowing him to become an active role model for entrepreneurs in South Africa, Silicon Valley, and beyond.

Read more about the acquisition in Vinny’s exclusive interview with PandoDaily.

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Endeavor Entrepreneur Vinny Lingham

Egypt's TA Telecom Makes Connection With Endeavor South Africa, Plans Regional Expansion

TATelecomSATo support his expansion in Africa, Endeavor Entrepreneur Amr Shady, co-founder of Egypt’s TA Telecom, recently made an Endeavor connection with the team at Endeavor South Africa. Demonstrating the impact of the organization’s global network, Amr was able to leverage Endeavor’s resources to help him connect with local business leaders and industry experts. In addition, Amr has shown his support for the South Africa office through give-back, fulfilling Endeavor’s  mission to foster an ecosystem of high-impact entrepreneurs.

Selected by Endeavor in 2011, Amr is the co-founder and CEO of TA Telecom, a value-added services (VAS) mobile solutions provider that delivers time- and location-specific content to subscribers. With operations across the Middle East and Africa, TA’s services range from demographically-targeted SMS advertising to custom content delivery platforms. Servicing over 10 million subscribers, TA is working towards international growth with its expansion into South Africa, where the mobile phone market has an estimated 59 million users. 

In June, Amr traveled to Johannesburg to attend the VAS Africa conference, an event dedicated to the development needs of African operators. While there, he was connected to South Africa’s Everlytic, founded by entrepreneurs Sam Hutchinson and Josh Adler, as well as a candidate entrepreneur that provided support for his market entry analysis. In addition, the  Endeavor team connected Amr to a local public relations firm to discuss communications strategies while also helping him arrange opportunities with digital agencies and media. In addition to offering financial support, Amr’s give-back efforts include advising potential candidate entrepreneurs in the telecommunications space in South Africa. With plans to become more engaged in the region, he will also look towards Endeavor to help him source potential members for TA Telecom’s South Africa Advisory Board.

Since joining the Endeavor network, Amr has been an active promoter of the organization’s work, serving as a mentor and board member for Endeavor Egypt. As a panelist at International Selection Panels, he has played a key role in selecting new generations of entrepreneurs in the pipeline. Endeavor continues to help Amr connect with top entrepreneurs and investors around the world, and recently featured him as a keynote at the 2014 GigaOm Structure Data event in New York.

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Amr Shady speaking at the VAS Africa event

New Endeavor Insight Report Analyzes the Source of Silicon Valley's Development

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Endeavor Insight, supported by Omidyar Network, has released a new report that analyzes the development of the world’s most well-known entrepreneurship hub. The report, entitled “How Did Silicon Valley Become Silicon Valley,” includes new data that is being shared publicly for the first time. Endeavor has conducted similar research on entrepreneurship ecosystems around the world, including in Argentina, Colombia, Turkey, and Chile.

The story of the Valley’s early years can provide lessons to leaders in cities and regions across the world. It illustrates the impact that successful entrepreneurs can generate in their communities if they foster spinout firms, mentor other founders, and act as early-stage investors. More information on the lessons that other cities can use, and on the region’s growth and impact, can be found in the full report.

To download a PDF version of the report click here and read coverage of its release in TechCrunch here. The report can also be viewed online using ISSUU below.

eMBA 2014 Field Report: Engineering for Growth in Chile – an Adventure with CORBAC Foods

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Billy Mata, a member of Babson College’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Chile’s CORBAC Foods.

eMBA_webHow often do you get the chance to go to the beach one day and the next day be snowboarding at the top of the Andes?  Unless you are in Santiago, your possibility of doing so is very slim, if any. I had always wanted to go to Santiago, Chile but never seemed to have the chance, the time or the money to do so.

When I started my MBA at Babson I knew that this was the moment for me to travel while taking advantage of opportunities to expand my learning experience and have an impact in the places I went, by engaging with purpose-driven organizations.  Endeavor was a perfect fit. Through their eMBA program, I was able to connect with Christian Cortes, the Endeavor Entrepreneur behind CORBAC Foods, in order to engage for 10 weeks in an intensive consulting project focused on strategic planning and execution to support the company’s growth.

CORBAC Foods is a food production and ingredients company that develops solutions for industrial, retail and end customers using – mainly – protein from animal sources.  Some of its most important clients include Nestle and Wal-Mart. CORBAC is strongly positioned in the industrial segment where it supplies dehydrated meats as an ingredient for ready-to-eat soups, rice and pasta.  For its retail customers, CORBAC operates as a food service company and provides sauces, dressings and cooking powders.  For end customers, CORBAC developed VORO, a dog treat that is made of natural and human grade protein, which allows pet owners to treat their pets as an additional family member.

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A view of Valle Nevado in Chile, courtesy of Billy

When I first met with Christian on a Sunday afternoon to have lunch paired with a glass of (Chilean) wine I got inspired about the project and was eager to help him achieve his dream.  Christian told me how he started his company with $1,000 US dollars, how he managed to take it to where it was today, and how he wants to double the company’s revenue in three years and have it grow five-fold in the next few years. I needed to figure out how we would do that and I had no doubt that it was possible.  After all, I came to Chile to be challenged, and this was a big and exciting one.

After the first week of working with Christian and understanding the company, the industry and the team better, there were two main insights that would dictate how we would engineer the company to prepare it for its growth plans:

Many of the capabilities and skills that brought CORBAC to the point it was at today could hinder the company’s growth going forward

There is a tradeoff between customization and standardization; it’s hard to grow and scale with a customized and single client product portfolio

After we agreed on those two key points, we laid out a work plan which would create the base for growth.  Essentially, there were five aspects of the business that we needed to be crystal clear about and that we would work on:

Aspiration: Develop a clear sense of where the company is going.

Where to play: The industries, regions, customer segments and distribution channels that will be the focus going forward.

How to win: Identify the sources of competitive advantage and capabilities that will enable CORBAC to achieve its growth ambition.

Strategic priorities: The initiatives, capabilities and tasks that need to take place to achieve success.

Plan to generate results: Execute the strategy and align the organization.

Upon reflecting upon my time in Chile with Christian and the CORBAC team so far, I hope I have had a great impact in the company to propel it to the next level.  It is always refreshing to work with passionate entrepreneurs that never settle and are always looking to grow their companies and themselves as people.

Brazil’s Bebê Store Announces Acquisition of Competitor Baby.com.br; Receives Investment From Endeavor Catalyst

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Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the region. In addition, the company successfully raised a $12.3 million round of financing earlier this year led by venture capital firms Atomico and W7, with participation from Endeavor Catalyst.

Founded in 2009, Bebê Store was a first-mover in its sector, offering parents a unique online shopping experience by guaranteeing a wide selection of high quality products and personalized customer service. The company has expanded to separate sites for lines of baby products, toys and goods for mothers, projecting  close to $42.5 million in revenue for 2014. Baby.com.br is a major player in Brazil’s e-commerce industry, having attracted over $50 million in investment capital. The acquisition will help Bebê Store strengthen its presence as the leading online retailer of child care products in Latin America, bolstered by Baby.com.br’s existing customer base and product lines.

This merger represents an important milestone in Brazil’s fast-growing e-commerce sector. The rapid rise of  the tech and online retail industries in Brazil has been one of the biggest factors in driving the country’s economic resurgence over the past decade. Research shows that nearly 50 million people in the country are active Internet consumers, demonstrating major potential for growth as the nation’s e-commerce market is expected to become the world’s fourth largest by 2016.

With this new round of financing, Bebê Store has raised nearly $30.5 million led primarily by the London-based Atomico. About two-thirds of the $12.3 million is venture capital and one-third is a bridge loan, with Brazil-based W7 Venture Capital also adding on to its earlier investment. Endeavor Catalyst, Endeavor’s passive co-investment vehicle, also supported this recent round.

Since his selection by Endeavor in 2013, Leonardo has been an active member of the network, receiving custom mentoring on expansion strategies and investor introductions through the Endeavor Investor Network.

Read coverage of the news in The New York Times’ Dealbook and learn more about the company’s financing round by clicking here.

eMBA 2014 Field Report: An Entrepreneurial Approach with Turkey's Artesis

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Abdul Basith, an MBA student at the Thunderbird School of Management, who spent the summer working with Endeavor Entrepreneurs at Turkey’s Artesis.

eMBA_webLeather jacket, jeans and boots – not the typical attire an MBA student wears to an interview. But that’s what I was wearing when I interviewed for my summer internship with Endeavor Entrepreneur company Artesis. On a holiday in Istanbul, I didn’t want to miss out on the opportunity to interview after learning about it from Endeavor. I met with Dr. Ahmet Duyar, the entrepreneur behind Artesis whose research has been funded by NASA. I was inspired by the vision he had for his company, the future of energy efficiency and how he hoped his start-up can contribute to improving energy efficiency in manufacturing facilities the world over.

It was a good fit for both sides. Artesis develops technology and software for maintenance and energy efficiency in Oil & Gas, Water and Automotive industries, and my prior sales experience in industrial control applications complements it well. As I seek exposure to emerging markets, experience in Turkey lends valuable credibility to my career. I am halfway through my MBA at Thunderbird – ranked no. 1 consistently for its international business program, and it is common for students to intern outside of the U.S.

I am tasked with marketing the company’s latest software that replaces expensive condition monitoring techniques. Although some responsibilities were outlined for me, the role was as entrepreneurial as one would expect in a start-up, I have added to areas outside my direct scope. Recognizing the need for a more user-friendly interface and a smooth purchase process, I worked with the development team to improve the user experience design of the software and the website. Having developed a pricing model, I am now building a digital marketing platform to integrate with traditional marketing methods. The experience has been rewarding – I have been able to learn and apply new tools on a regular basis.

Dr. Ahmet Duyar is a guiding force who always makes time for discussion and is open to ideas and suggestions from his employees. As a retired professor, he has a way of bringing out the best in the team. I see this as he critiques my proposals and challenges my assumptions, only to make me work harder and improve my work. Then he gives me the authority to make decisions, saying ‘You are the entrepreneur. This is your product’. It’s this “entrepreneurial” drive that makes my work really interesting.

Personally, too, the experience has been a rewarding one. For someone who loves food, culture and photography, I was not disappointed with Istanbul. There is so much to see and do that one summer just did not seem enough. With Turkey growing as an emerging market and the billions of dollars of foreign investment giving rise to quality jobs, I will happily grab another opportunity for a stint here.

Abdul with the team at Artesis

Entrepreneurship Ecosystem Insights Newsletter – July 2014

The July 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Argentina’s Globant Raises $59 Million on NYSE; Second-Ever U.S. IPO for an Endeavor Company

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Argentina’s Globant, founded by Endeavor Entrepreneurs Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran, had its U.S. IPO on July 18th, raising nearly $59 million. The Buenos Aires-based software development giant has become one of Endeavor’s top success stories by demonstrating the high-impact potential of entrepreneurs in emerging markets. In addition, as Endeavor Catalyst’s first investment, this IPO marks a major milestone for Endeavor’s innovative co-investment initiative.

Founded in 2003, Globant was envisioned from the start as a business that could generate world-class career opportunities for IT professionals while showcasing Latin American talent. Globant has become one of the fastest growing software solutions companies in Latin America, providing clients worldwide with solutions that are design-minded, scalable and efficient. The entrepreneurs have put Argentina on the radar of the global marketplace for offshore IT services, with a portfolio of clients that include Google, LinkedIn, Sabre and Electronic Arts.

The entrepreneurs were selected into the Endeavor network in 2005 with just 120 employees, and have now grown to employ over 3,000 people across 15 countries with the help of Endeavor’s mentorship, strategic guidance and investor connections. In 2008, Globant acquired Openware, an Argentine tech venture founded by Endeavor Entrepreneur Federico Seineldin, marking the first-ever merger between two Endeavor companies. In the same year, Endeavor helped Globant close its first round of venture capital financing led primarily by U.S.-based investors.

When Endeavor Catalyst was formed in 2012, the donor fund co-invested nearly $2 million in Globant as its inaugural investment. Endeavor Board Member and LinkedIn co-founder Reid Hoffman subsequently joined Globant’s Board of Advisors, cementing the company’s reputation as a world-class technology firm. In addition, Globant’s most recent financing round in 2013 saw a 20% acquisition by multinational advertising company WPP. The returns from the Endeavor Catalyst investment will ultimately go towards supporting Endeavor’s operations as well as the fund’s work with future entrepreneurs.

 

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Globant’s Nestor Nocetti, Guibert Englebienne, Martin Migoya, and Martin Umaran

With annual revenue growth of over 30% in the past two years, including total revenues of $158 million last year, the IPO highlights Globant’s upward trajectory as the global demand for solutions in mobile, social, big data and cloud computing skyrockets. Globant’s success has demonstrated the importance of supporting entrepreneurs by creating an ecosystem of inspiration, mentorship and investment.

Since joining the network, the Globant team has been highly engaged with Endeavor’s work in Latin America and globally, serving as mentors, ISP panelists and donors. The founders have also attended and spoken at a number of Endeavor-hosted events, including both regional and global galas, retreats and summits. Martín and Guibert also serve as board members in Argentina, with Guibert recently named chairman of the local board. The story of the Globant founders is a testament to Endeavor’s model and the multiplier effect of entrepreneurship as the team becomes role models and investors for future generations of ventures.

“The trust that Endeavor puts in Globant was first shown in 2005 when they selected us as Endeavor Entrepreneurs. That was a key milestone in our history, since they enabled us to learn from some of the most talented and experienced professionals in the world,” said CEO Martín Migoya in a statement. “Endeavor reinforces a great partnership that will help us to take our company to the next level, creating more jobs for talent across the world, more opportunities for our ‘Globers’, and delivering the best software products for our customers.”

Globant is the second Endeavor Entrepreneur company to have an IPO in the U.S.  MercadoLibre, founded by Marcos GalperinNicolas Szekasy and Hernan Kazah, was also an Argentine venture that successfully went public in 2007 on the NASDAQ market.

Learn more about the IPO news in the company’s press release by clicking here.

eMBA 2014 Field Report: Innovating Finance With Colombia's Refinancia

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Pablo Calabuig Pascual, a member of the IESE Business School MBA Class of 2014, who spent the summer working with Endeavor Entrepreneurs at Colombia’s Refinancia.

eMBA_webI heard about Endeavor some years ago, but never thought about applying to it until this year. I was looking for something to do during my six month vacation before starting at McKinsey, and unfortunately I was totally broke after a two year MBA at IESE. I saw Refinancia’s project proposal and found it very interesting, and since I had never visited Colombia I saw this as a great opportunity to get to know the country.

Refinancia is a specialty loan provider that operates in Colombia and Peru, and offers solutions to underserved niches. It basically purchases portfolios of non-performing loans to retail banks, and after thoroughly studying the client’s payment behavior, offers them special solutions so that they can be back in the market. It also has a division that deals with merchant solutions, guaranteeing customer check transactions and providing them with short-term financing. It was started in 2006 and already has more than 800 employees.

A few weeks after I applied, Kenneth (CEO) and Juliana (Head of Corporate Affairs) interviewed me via Skype, and they gave me such a good vibe that just five days later I was already landing at El Dorado airport in Bogotá. I didn’t even have the time to plan my trip and almost even to pack the right clothes, but to be honest the welcome was so smooth and warm that I didn’t even need it. When I got to Bogotá, a driver took me to the apartment they had arranged for me, where I could cook some of the food they had left in the fridge. It felt like home from the moment of my arrival.

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Pablo with the team at Refinancia

The project itself was incredibly interesting and had a very high impact in the organization: they wanted me to implement an activity-based costing system for the whole company, and thus I was constantly dealing with the CEO, VPs, and Managers. They did not have any way to track indirect costs to the final customer for any of their divisions, and their fast growth complicated things even more. The Merchant Services in particular had no idea of what customer groups were consuming their huge chunk of indirect costs, and the project ended up being a useful tool for segmentation according to actual and potential profitability of the customer.

People were incredibly attentive, not only in the way they provided me with the required information I needed (which was really a lot), but also regularly meeting with me to give me some feedback about my first results. I was particularly surprised about Kenneth’s entrepreneurial attitude and intelligence: he would challenge my ideas and asked me for information that made me reflect about the direction of the project several times.

My social life was no worse. From day one I was getting along well with all of Refinancia’s people. They took me to play golf and introduced me to some of the city’s bars and nightlife. I was also very lucky to be here during the World Cup, given the Colombian passion for football. In fact, after Spain’s poor performance in the tournament, we were back home after the third game and they had me buy Colombia’s jersey and watch all the games with it. Some of them even say I ended up being more Colombian than them! Camila Salamanca and all the of Endeavor team were also very nice and helpful to me.

As I reflect about my whole experience at Refinancia, I realize that everything has gone way beyond my expectations. Not only did I learn from the project, but I also got to meet some amazing and outstanding people in both work and social environments. The memories we created will certainly stay with me, and I am sure I will be back to Colombia sooner than expected.

Endeavor CEO Linda Rottenberg Featured On Fox Business' After The Bell

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Fox Business’ After The Bell recently interviewed Endeavor CEO and co-founder Linda Rottenberg, highlighting the work of the organization and its impact in emerging markets. In the interview, Rottenberg discusses Endeavor’s mission to help entrepreneurs break through barriers to success by creating networks of support in the markets that need it the most.

Watch the full interview by clicking here or below.

Overcoming the barriers to entrepreneurship

Endeavor Entrepreneur Companies Featured in The Economist Ranking of Top Internet Companies

The_Economist_LogoThe Economist recently charted the top three internet and technology companies in 50 countries based on data from the World Startup Report. The ranking demonstrates the number of emerging markets with growing tech scenes that are succeeding outside of the U.S. Six Endeavor Entrepreneur companies were featured in the chart as well as ventures founded by Endeavor Board Members, illustrating the global impact of the organization’s network. 

The ranking includes South Africa’s Yola (founded by Vinny Lingham), Argentina’s MercadoLibre (founded by Nicolas Szekasy, Hernán Kazah and Marcos Galperin), Turkey’s Yemeksepeti (founded by Melih ÖdemişNevzat Aydın, and Cem Nufusi), Colombia’s Bunny Inc. (founded by Alex Torrenegra and Tania Zapata) and PayU LatAm (founded by Martin Schrimpff and José Fernando Vélez)  and Chile’s Clandescuento (founded by Felipe Henríquez, Oskar Hjertonsson and Daniel Undurraga).

View the complete graphic by clicking here.

Endeavor Expands Presence in Europe with the Launch of Endeavor Spain

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Madrid, Spain – July 14, 2014 – Earlier this year, Endeavor announced that it has expanded its European presence with the launch of Endeavor Spain, marking the organization’s second affiliate in Europe.  Supported by some of Spain’s most influential entrepreneurs and business leaders, Endeavor’s launch has the potential to transform the Spanish economy and create much-needed jobs in a nation unsettled by rising unemployment. Endeavor first expanded in the region in 2012 with the formation of Endeavor Greece.

Between 2008 and 2013, Spain’s GDP saw minimal or negative growth year-over-year according to data from the The World Bank. Youth unemployment rates reached nearly 56% in 2013, making it the second most challenging economy for new graduates in the European Union, after Greece. With an increasing number of young people entering the workforce with few traditional job prospects, entrepreneurship has been on the rise  an estimated half of Spain’s entrepreneurs are currently between the ages of 18 and 34. Spurred in part by necessity, the rate of new startups in the region has increased over 8% and registrations of self-employed individuals increased by over 20,000 in the beginning of 2013. At the same time, however, only 5% of these startup companies reported employing 10 or more people, demonstrating the lack of proper resources and support for entrepreneurial growth. This is where Endeavor sees the potential for its model to transform the economy and foster an ecosystem of entrepreneurs whose businesses are able to move beyond the startup stage to become high-impact, pioneering ventures.

Given access to the right mix of mentors, business networks, capital and strategic advice, Endeavor Entrepreneurs have the potential to attract top talent and investments to the regions that need it the most.  With a favorable environment for entrepreneurial growth, Spain has the necessary infrastructure to build a support network for businesses that can not only boost the economy, but also create a key market for jobs. In addition, an ecosystem of successful entrepreneurs will serve as vital role models and investors for future generations, creating a solid foundation for economic recovery and empowerment for years to come.

“We are excited to help unlock the potential of Spain’s growing pool of entrepreneurs,” said Endeavor co-founder and CEO Linda Rottenberg. “We know from our work in Greece and other challenged markets that entrepreneurship thrives in down economies, and Spain right now is primed for a major boom.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success.

In the past 16 years Endeavor has selected 917 entrepreneurs from over 20 countries around the world in Latin America, Africa, Europe, the Middle East, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs.

All of Endeavor’s global affiliates are spearheaded by a local board of business leaders, each of whom believes strongly in the ability of high-impact entrepreneurship to transform economies. The Endeavor Spain founding board includes: Jaime Carvajal Urquijo, Special Partner & former Managing Director of Advent International; Jose Maria Alvarez Pallete, CEO & COO of Telefonica S.A.; Angel Cano Fernandez, President of BBVA; Sabina Fluxà, Executive Vice President & CEO of Grupo Iberostar; Javier Monzon, Chairman & CEO of Indra; Javier Perez Dolset, Chairman & CEO of Zed; Jose Luis Perelli, Audit Managing Partner, Audit Services of Ernst & Young Spain; and Francisco José Riberas Mera, Chairman & CEO of Corporacion Gestamp. Alvaro Lopez-Jorrin, Corporate Law Partner of Garrigues, will serve as secretary of the board.

The Board of Endeavor Spain truly looks forward to being able to make a significant and lasting impact in the creation of a consolidated entrepreneurial ecosystem in Spain,” said Board Chairman Jaime Carvajal.

The board has selected Adrian Garcia-Aranyos as Managing Director to oversee the successful launch of Endeavor Spain. Mr. Garcia-Aranyos served previously as Vice President of Media Relations for Latin America at J.P. Morgan Chase and as the Americas Marketing Director and Latin America co-head for The Economist Group. As MD of Endeavor Spain, he will lead the day-to-day operations of the office in Madrid and will be involved in screening local entrepreneurs for selection into the network.

Greece's Kerstin Trikalitis, Co-Founder of Out There Media, Joins Jury at the 2014 Cannes Lions Festival

cannes lionsEndeavor Entrepreneur Kerstin Trikalitis, co-founder of Greece’s Out There Media, was recently named to the jury in the “Mobile” category at the 2014 Cannes Lions Festival, a premiere international awards event for professionals in the creative communications industry. Often considered the largest worldwide gathering of designers, digital innovators and marketers, the festival recognizes the best in creativity and innovation in global media. Kerstin’s honor demonstrates a growing interest in the potential of high-impact entrepreneurs in emerging markets like Greece.

As part of the Mobile Lions jury, Kerstin worked with 14 global judges representing top names in branding and media to review over 1,000 entries in the category. The submissions encompassed creative works  activated by a mobile device, app or mobile web and were judged based on creativity, execution, relevance and results. Now into its 61st year, the Cannes Festival convened over 12,000 delegates from more than 90 countries to network and celebrate the best in brand communications. The week-long agenda consisted of 60+ world-class seminars which put 500+ speakers on the global stage, as well as more intimate and targeted learning through forums and workshops. This year, over 37,000 entries from 97 countries competed for awards.

Mobile Lions Jury-Cannes 2014

The Mobile Lions Jury in Cannes

Being honored as a jury member demonstrates Kerstin and her team’s success as emerging market entrepreneurs. When she founded OTM with fellow Endeavor Entrepreneur Daphne Loukas in 2007, the pair anticipated the boom in mobile advertising in regions that depend on non-traditional devices for digital connectivity. With offices across Europe, Asia and North America, OTM works with brands and advertisers, SMEs and e-commerce companies to enable them to maximize awareness and loyalty among their consumers through innovate mobile and digital campaigns. The company has formed partnership agreements with over 40 mobile carriers across Europe and Asia, reaching approximately 500 million subscribers via its multi-channel advertising marketplace called Mobucks. Since their selection into the network in 2013, the OTM team has worked with Endeavor to gain insights on fundraising and have participated in a number of Endeavor Investor Network events.

“It has been an amazing experience to be part of the Mobile Jury for Cannes Lions this year as one of the 15 jurors from across the globe! We have seen the most ground-breaking work that the world has to offer in ‘Mobile’ up to this day,” said Kerstin. “I am very honored to have been part of the experience and am convinced that Mobile will become an ever more integral part of any brand communications strategy in the years to come. Lastly, I encourage all of us Endeavor Entrepreneurs that work in advertising technologies to submit our best practices for Cannes Lions 2015!”

 

Endeavor CEO Linda Rottenberg Discusses Her Entrepreneurial Journey in Business Insider

BusinessInsiderEndeavor CEO Linda Rottenberg was recently interviewed by OneWire‘s Skiddy von Stade about the Endeavor story and her own entrepreneurial path. The interview was featured in Business Insider, highlighting Linda’s journey from law school to Latin America and, ultimately, to co-founding the world’s leading supporter of high-impact entrepreneurs in growing economies.

Watch the two-part interview by clicking here and here, or below.

July 2014 Newsletter

To view Endeavor’s JulyGala Icon newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

2014 Endeavor Gala on November 7th to Honor Arif Naqvi

Arif Naqvi - high resol#12AEndeavor announced this month that its 2014 Gala on Friday, November 7th in New York City will honor Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group.

A visionary entrepreneur, Mr. Naqvi founded The Abraaj Group in 2002. The firm has since emerged as a leading investor in growth markets with US$ 7.5 billion in assets under management. Employing over 300 people, the Group has 25 country offices spread across six regional hubs in Dubai, Istanbul, Mexico City, Mumbai, Nairobi and Singapore.

In 2011, Mr. Naqvi was named as one of the 50 most influential people in the global private equity industry by Private Equity International. He has been the recipient of numerous awards, including the Oslo Business for Peace Award, the highest form of recognition given to individual business leaders for fostering peace and stability through creating shared value between business and society. At the Gala, Mr. Naqvi will be presented with Endeavor’s 2014 High-Impact Entrepreneur of the Year Award, which honors global entrepreneurial role models and leaders of the high-impact entrepreneurship movement.

Mr. Naqvi and The Abraaj Group have developed an important partnership with Endeavor over the past four years, supporting dozens of entrepreneurs and playing a critical role in Endeavor’s affiliate expansion throughout the Middle East, North Africa and Southeast Asia.

To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at gala@endeavor.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.

Uruguay's PedidosYa Acquired By Delivery Hero, Expands Network to 20 Countries

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Uruguay’s PedidosYa, an online solution for food delivery in Latin America, recently announced a majority acquisition by Germany-based Delivery Hero. Founded by Endeavor Entrepreneurs Ariel Burschtin, Álvaro García, and Ruben Sosenke in 2009, PedidosYa currently operates a network of 12,000 partner restaurants within nine countries in Latin America, with plans to launch in three more countries. The acquisition highlights the importance of e-commerce platforms in the region’s consumer service industry as well as a growing global interest in Latin American markets.

Predicting the rise of e-commerce services and noting the absence of food delivery solutions in the region, the trio launched their app in their native Montevideo, Uruguay with the hopes of creating an innovate  service platform for Latin Americans. Restaurants, enticed by the company’s streamlined order processing and new sales channel, rapidly signed up  for PedidosYa. The company has now grown to 150 employees across Argentina, Brazil, Chile, Colombia, México, Perú, Puerto Rico, Uruguay, and Venezuela. The app has reported over two million downloads and receives nearly 200,000 orders per month.

Looking to gain a foothold in the region’s markets, Delivery Hero bought out existing investors in PedidosYa, backed by a recent round of funding led by Luxor Capital Group. A global leader in online food ordering with more than 60,000 partner restaurants worldwide, Delivery Hero currently operates in 12 countries across Europe and Asia with over 800 employees. For less than a year, the two companies have operated in a confidential partnership, a cooperation which has proven beneficial, more than doubling PedidosYa’s volume of orders. PedidosYa will remain an independent brand, and the acquisition is expected to increase Delivery Hero’s representation to 20 countries spanning four continents.

Latin American companies mostly limit themselves to their national markets. We belong to a new generation of entrepreneurs who focus on international expansion,” said Ariel in a statement. “In this sense we fit perfectly to Delivery Hero and are pleased to be part of the global leader.”

Since their selection at the 41st Endeavor ISP, Ariel, Alvaro and Ruben have received strategic mentorship support from Endeavor. The team has also participated in Endeavor’s eMBA program and in Endeavor Investor Network events.

Read the full press release of the announcement here.

Save The Date: 2014 Endeavor Gala Honoring Arif Naqvi

Join over 500 entrepreneurs, business leaders and Endeavor network members in the heart of Manhattan for a celebration of the high-impact entrepreneurship movement and Endeavor’s expansion to 20 emerging and growth markets worldwide. The Gala will honor Arif Naqvi, Founder and Group Chief Executive Officer of The Abraaj Group, with the High-Impact Entrepreneur of the Year Award. All proceeds directly support Endeavor’s work and efforts to expand to 25 countries by 2015.

To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at gala@endeavor.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.

2014 Endeavor Gala Save the Date

 

Endeavor Greece Reports on Youth Job Creation, Focuses on the Need for High-Impact Entrepreneurship

endeavor-greece-logo-454280Endeavor Greece recently released a report, titled Creating Jobs for Youth in Greece, which highlights the need for the country’s entrepreneurs to spur youth job creation. The report focuses on the stagnation of value-adding sectors, the necessity of startups for initiating a new growth era, and the promise shown by a generation of Greek youth who are more globally-minded and connected than ever before. The findings reveal that a change in the perception of entrepreneurship needs to happen, particularly among younger populations, which will only be possible if healthy role models and supportive institutions exist.

The report combines analysis of employment demographics from the Hellenic Statistical Authority and employment data from Manpower Employment Organization (OAED), in addition to two surveys conducted by QED and Endeavor Greece. Over the last six years, Greece suffered an unprecedented 25% reduction in GDP that has resulted in a contracted and languishing economy. The country’s youth population has been disproportionately affected by the crisis, with over 600,000 youths (<35 years old) unemployed. Job destruction in the youth sector corresponds to 55% of the total jobs lost during the crisis. However, only half of youth unemployment can be attributed to a sluggish economy  the other half is due to a hiring advantage felt by the age 35+ population.

Yet, young Greek entrepreneurs remain optimistic about their ability to start businesses of their own, as highlighted by past research from Endeavor Greece. The report makes several recommendations to empower future generations. First, identify and support the existing high-impact firms that are in a position to scale up. Second, lay the groundwork for entrepreneurs to launch new companies that will create high-growth jobs for youth as they scale. Combined, the 3,000 existing companies and 10,000 new high-growth companies could create a million new jobs within the span of seven years.

Watch a summary of Endeavor Greece’s findings below and read the full report by clicking here.

Endeavor eMERGE California Event Spotlights Growing Tech Markets Worldwide

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From June 17th – 19th, Endeavor held its inaugural eMERGE California event, sponsored by Gigaom, Zynga and Co.Lab, which brought together top entrepreneurs, investors and mentors to highlight fast-growing tech markets outside of Silicon Valley. As part of the event, an Endeavor Investor Network session sponsored by Greenberg Traurig convened Endeavor Entrepreneurs and representatives from premiere venture capital firms in an afternoon of  networking and discussion around emerging markets. In addition, Endeavor partner Barclays held a special advisory session for one of the entrepreneurs in attendance.

“Endeavor Entrepreneurs are frequently the forces leading or disrupting their regional tech markets. With Endeavor’s presence in twenty countries, it’s in a unique position to showcase the potential of these markets side-by-side via the individuals who are shaping them,” said Shaun Young, Endeavor’s Director of Network & Business Development and head of Endeavor eMERGE California.

Over the course of the three days, some of Endeavor’s most promising tech entrepreneurs represented their markets and countries in front of a number of Silicon Valley’s key business leaders.  The event opened with a mentorship breakfast with top investor Dixon Doll, co-founder of venture capital firm DCM, who addressed  strategies for supporting tech ecosystems in non-traditional markets. Entrepreneurs then had the opportunity to meet with Joanna Rees, Endeavor Global Board Member and Managing Director of Endeavor Catalyst,  as well as the staff of Endeavor California to discuss approaches to raising capital in Silicon Valley as international entrepreneurs.

Three Endeavor Entrepreneurs were featured as speakers throughout Endeavor eMERGE California, including Brazil’s Antonio Carlos Soares of RunRun.it,  Argentina’s Germán Dyzenchauz of GoIntegro, and Lebanon’s Rabih Nassar of Apstrata. With expertise in cloud-focused technologies, these entrepreneurs contributed widely to the week’s events, addressing participants in sessions with the Endeavor Investor Network and members of Endeavor’s California network, including executives from the Omidyar Network, Dropbox, Silicon Valley Bank, Zendesk, SurveyMonkey and the SF Mayor’s Office. In addition, the entrepreneurs participated in a panel moderated by Endeavor President Fernando Fabre during the Gigaom Structure conference, a premiere cloud-focused technology event. Additional  Endeavor Entrepreneurs in attendance at eMERGE California included Chile’s Pablo Godoy of Inzpiral, Argentina’s Sally Buberman and Ignacio Lopez of Wormhole, and Mexico’s Guillermo Casares Gonzalez of Mexis.

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Gigaom Structure panel moderated by Endeavor President Fernando Fabre

The Endeavor Investor Network session on June 17th featured participation from leading U.S. venture capital firms, including Accel Partners, General Atlantic, Lumia Capital, Omidyar Network, Ribbit Capital and Rise Capital, who met with a selection of Endeavor’s top companies representing Argentina, Brazil, Chile, Jordan, Lebanon, Mexico and Miami. The afternoon kicked off with an hour-long conversation with the three eMERGE speakers, who provided insights on the market opportunities that growing tech economies offer cloud-based companies and potential partners. The entrepreneurs and investors then participated in formal rounds of speed-networking, where 24 investors and companies from Endeavor’s portfolio met over coffee, company narratives and presentations, culminating in 100+ formal networking connections over the course of the afternoon. Following the formal networking, participants continued with an informal reception themed around the World Cup.

Additional highlights from the week included a private dinner hosted by Endeavor Catalyst Managing Director Joanna Rees in honor of the Endeavor Entrepreneur participants of eMERGE California. Also, following one of their talks, Antonio Carlos, Germán and Rabih were invited to Dropbox  to meet with members of the company’s corporate development, sales and international teams to discuss regional trends in mobile, cloud and payments. Finally, the event wrapped up with a special advisory session with Endeavor partner Barclays. The meeting convened senior Barclays executives to help provide guidance to Mexican Endeavor Entrepreneur Guillermo Casares Gonzalez on his company’s approach to fundraising and expansion.

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Investors and entrepreneurs connecting at the Endeavor Investor Network session

“[Endeavor eMERGE California] was a great opportunity to showcase my company, meet lots of interesting new people and get to know Endeavor better. It was truly a pleasure and an honor to participate, ” said Antonio Carlos.  “It is great to be a part of Endeavor and to share my dream.”

Endeavor eMERGE California will feature more of Endeavor’s best international tech markets,  focusing on topics such as mobile, payments and the sharing economy, and continue to spotlight the entrepreneurs at the forefront of these areas. The participating entrepreneurs in this event represent a range of cloud-based services and solutions. Learn more about their companies below:

 runrunAntonio Carlos Soares joined the Endeavor network in 2010 as part of Brazil’s Aorta, a software company that serves major clients by helping them harness new technologies through customized IT applications. Antonio is currently the co-founder of RunRun.it, a cloud-based team management platform. The product helps managers of mainstream companies enhance team productivity by providing dashboard reports and tools for improving workflow assurance, task management and employee performance evaluation in a simplified format.

GoIntegroFounded by Germán Dyzenchauz and Gaston Lejtman in 2002, Argentina’s GoIntegro is a leading SaaS social engagement platform for companies in Latin America, offering a suite of software applications to manage internal communications, corporate benefits, recognition programs and incentives. With offices across the region, the company boasts more than 300 corporate clients and reaches upwards of one million daily users with revenue growth of 30% in 2013.

apstrataLebanon’s Rabih Nassar worked in development in the enterprise software space for years with Element^n, ultimately turning its product legacy into Apstrata, a highly scalable, cloud-based solution for back-end infrastructure. Apstrata packages the fundamental server-side building block components necessary for HTML5 and mobile application development, saving mobile developers both time and money.

inzpiralChile’s Inzpiral is a BI software solution company consisting of three product platforms, each compiling, consolidating and analyzing large data sets for the optimization of pricing and distribution strategies. Founded by Pablo Godoy in 2011, Inzpiral’s solutions primarily apply to the Retail and CPG market, but is expanding to serve the mining and telecommunications sectors as well.

Wormhole-IT-Formación-con-tecnología-Live-learningArgentina’s Sally Buberman, Ignacio Lopez, and Maximiliano Menasches have focused their efforts on creating an affordable, high-quality solution to allow people in emerging markets to work, learn, and communicate over the Internet. With Wormhole IT’s products, which are typically 90% cheaper than competing products, the team’s solutions have already been successfully exported to and localized for over ten countries and are actively used by over 60,000 users.

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Guillermo Casares González took a business ridden with accounting irregularities and a broken ISP model and reoriented it as a Management Risk Service Provider. Based in Mexico City, his company Mexis integrates managed services in network infrastructure, security and applications with the concept of “Security 360°”. Today, Mexis is a leader in the industry and operates under its own proprietary technology.

Entrepreneurship Ecosystem Insights Newsletter – June 2014

The June 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Argentina’s Onapsis Raises Nearly $10 Million; Endeavor Catalyst Participates in Funding Round

OnapsisOnapsis Inc., founded by Endeavor Entrepreneurs Mariano Nuñez Di Croce and Victor Montero, recently announced that it has secured a $9.58 million Series B financing round led by Boston-based VC firm .406 Ventures and supported by Endeavor Catalyst and existing investors. A leading business security solutions provider to technology firms like SAP and Oracle, Onapsis plans to leverage the funds to enhance its product offerings, promote international sales and adapt to growing client demand.

Founded in Buenos Aires and now headquartered in Cambridge, MA, Onapsis offers protection for business-critical applications that manage highly-sensitive information ranging from supply chain logistics to business intelligence. Over 100 global brands and government organizations leverage Onapsis’ products to protect against espionage, sabotage, and financial fraud attacks and to streamline compliance with regulatory requirements. The new round will also allow the company to develop its research and engineering teams as it looks to advance operations across Europe and Latin America. Onapsis previously raised $3 million in funding and currently employs over 50 people.

Since joining the Endeavor network in 2011, Mariano and Victor have received tailored mentorship and strategic advising through Endeavor’s global network. In addition, the team has made a number of investor connections with the help of the Endeavor Investor Network while regularly participating in global tours and conferences.

“We are delighted to count on the support of Endeavor and our existing investors, which have been instrumental in helping us scale our business to support the fast-growing demand for our security solutions,” said Mariano in a statement.

Read the press release here and see media coverage of the news in VentureBeat.

About Endeavor Catalyst

Endeavor-Catalyst-LogoEndeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes a stronger interest in emerging market investment opportunities. Launched in 2012, Endeavor Catalyst has made 14 investments to date spanning five markets (Argentina, Brazil, Chile, Mexico and Turkey).

For more information on the fund’s activities, please contact Endeavor Catalyst Managing Director Allen Taylor at allen.taylor@endeavor.org.

Endeavor Entrepreneurs Attend EY's World Entrepreneur of the Year Awards in Monaco

ey_logo_detail copyEY hosted its annual World Entrepreneur Of The Year event this month in Monte Carlo, Monaco, convening business leaders from more than 145 cities across 60 countries. Since its inception in 1986, EY’s Entrepreneur Of The Year program has brought together thousands of the world’s top entrepreneurs to network and promote ecosystems of global innovation and ingenuity. This year, Endeavor Entrepreneurs Jorge Nazer of Chile’s ALTO and Feridun Tunçer and Levent Yılmaz of Turkey’s Baydoner  represented their countries in Monaco after being named national EoY winners for 2014. 

In addition, Indonesia’s Hendy Setiono of Baba Rafi and  Uruguay’s Michel Cohen and Silvana Leibenberg of Lolita attended the event as EY Ready, Set, Grow Entrepreneurs, which recognizes their companies’ potential for transformative growth. Other Endeavor Entrepreneurs in attendance included Jordan’s Amjad Aryan of Pharmacy 1 and Turkey’s Bedriye Hülya of b-fit. 

In addition to the judging and awards ceremony,  the event included keynotes from global business leaders, panel discussions on industry issues, and networking opportunities for all attendees.

Read more about the week of events and Uday Kotak, the ultimate winner of the 2014 World Entrepreneur title, by clicking here.

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Entrepreneurs Hendy Setiono, Michel Cohen and Silvana Leibenberg at the WEOY event

Globant's Guibert Englebienne Named Chairman of Endeavor Argentina

endvr_argentinaEndeavor Entrepreneur Guibert Englebienne, co-founder of Globant, was recently named chairman of Endeavor Argentina‘s board. The news was covered in La Nacion, a top Argentine newspaper, recognizing the work of Endeavor in the region and the importance of creating role models for future generations. Guibert succeeds Endeavor Entrepreneur and Officenet co-founder Andy Freire in this new role. 

As chairman, Guibert will continue to promote Endeavor as the organization works to select and support the best high-impact entrepreneurs in the region and around the world. MercadoLibre co-founder Marcos Galperín will also join as vice chairman. 

Guibert founded Globant with Martín Umaran, Martin Migoya and Nestor Nocetti with a mission to transform the software development industry in Latin America. Globant is an emerging worldwide leader in providing both technical expertise and design and creative capabilities in the development of software products that can be applied to digital campaigns on a global scale. Headquartered in Buenos Aires, the company is a rapidly growing business employing over 2,000 engineers, marketing specialists and designers in across Argentina, Brazil, Uruguay, Colombia, the United States and the United Kingdom. Globant is distinguished by its vision to provide clients with both the infrastructure and technical support that drive digital campaigns, combined with the creative and design skills usually found alone in digital agencies.

Since selection by Endeavor in 2005, Globant has expanded to to over 10 cities and has become the first Latin American outsourcing firm to work with Google. With the support of Endeavor’s network, Globant has been able to acquire  other firms and raise U.S.-based venture capital funds.

Read coverage of the news in La Nacion by clicking here.

Endeavor Chile's Experiencia Event and Retreat Convenes Top Members of the Local Network

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Endeavor Chile hosted its first Endeavor Experiencia event and 10th Annual Endeavor Retreat in June. More than a thousand people gathered at Santiago’s National Museum of Fine Arts for the day-long Experiencia event, which was designed to inspire and promote networking among entrepreneurs and stakeholders. In addition, the Endeavor Chile Retreat brought together local Endeavor Entrepreneurs and board members to celebrate achievements and highlights from within the network.

The Experiencia consisted of a series of workshops, round-table conversations and keynote talks that highlighted the importance of high-impact entrepreneurship and promoted interest in investment and growth in Chile. Attended by Endeavor Entrepreneurs and network members, the event emphasized the work of Endeavor in Latin America and the ecosystems of entrepreneurship that have developed in recent years. Experiencia events have also been hosted by Endeavor Argentina and Endeavor Uruguay. Read more about Chile’s event by clicking here.

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Attendees and spectators attend the first Endeavor Experiencia in Santiago

During their 10th Annual Retreat, Endeavor Chile elected entrepreneurs Karina von Baer, founder of Agrotop, and Jorge Nazer, founder of ALTO, to  join the affiliate’s national Board of Directors for a two year term. The Retreat also hosted the 2013 Endeavor Chile Awards, which recognized the commitment and efforts of the network’s volunteer mentors, senior advisors, entrepreneurs, and more.

“I am very thankful for this opportunity,” Jorge said about his selection to the board. “I am committed to promoting entrepreneurship in Chile and being the voice that defends entrepreneurship as the best way to overcome poverty and generate social mobility.”

The Wall Street Journal Features Endeavor’s Role in Miami's Entrepreneurship Scene

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The Wall Street Journal recently profiled Endeavor Miamis work with local entrepreneurs in an article exploring the city’s rapidly growing entrepreneurship ecosystem. Driven in part by companies hoping to gain a foothold in Latin America, the city is now positioned as a major gateway into the region’s emerging markets. Launched in 2013, Endeavor Miami works to uncover the city’s potential by supporting the businesses that are demonstrating the most high-impact growth and innovation.

WSJ highlights examples of local tech entrepreneurs who are beginning to reinvest in the city’s ecosystem, having grown their own Miami-based businesses into multi-million dollar brands. The article calls out the work of Endeavor Miami Board Member and mentor Andres Moreno, whose Open English, an online English-language school platform, now employs over 2,000 people across seven offices. 

Venture capital investments in Miami rose to $369 million in 2013 from $102 million in 2010, according to WSJ’s data, placing it among some of the country’s top startup markets. At the same time, Miami still faces key challenges in the market including a lack of local funding sources, talent access and mentors. With support from the Knight Foundation, Endeavor’s launch in Miami sought to tackle these challenges by finding and fostering high-impact entrepreneurs, having already selected five entrepreneurs from three companies into the network. In particular, the article mentions the efforts of Endeavor Entrepreneur Jesus Rodriguez, whose mobile software venture KidoZen has grown into a $5 million operation.

Read the full article in WSJ by clicking here.

June 2014 Newsletter

June2014To view Endeavor’s June newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Investor Network Event in London Brings Together 60+ EMEA Entrepreneurs and Investors

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On May 22nd, the Endeavor Investor Network hosted a one-day event in London that brought together over 60 Endeavor Entrepreneurs, candidate companies and investors from across Europe, the Middle East, and Africa (EMEA). Endeavor Entrepreneurs from Greece, Jordan, Lebanon, Morocco, Saudi Arabia, South Africa, Turkey and the UAE attended, with over 200 entrepreneur-investor connections made by the end of the day. The intimate event is the culmination of Endeavor’s efforts in EMEA to select and connect the best entrepreneurs with mentors and equity partners from the region and beyond.

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A panel discussion with investors and entrepreneurs

The event kicked off with an “investors-only” round table, giving local venture capital representatives from Endeavor’s markets the chance to connect with their London-based counterparts. Much of the discussion focused on the latest developments in the Turkish market, with Istanbul-based investors Ali Karabey (212 Ventures), Berkin Toktas (Revo Capital), and Cankut Durgun (Aslanoba Capital) all weighing in.

Allen Taylor – Vice President at Endeavor and the head of the Endeavor Catalyst co-investment vehicle – noted that Turkey has been a particularly active market.

“Since launching Endeavor Catalyst in January 2012, we have made more co-investments in Turkey than any other Endeavor market – including AirTies; Yemeksepeti.com (with General Atlantic); Peak Games (with Hummingbird Ventures and Earlybird Venture Capital); and, most recently Lidyana.com.” A number of London-based firms have also been active in Turkey and agreed that the market has solid fundamentals and strong growth prospects for the long-term.

Along with the round table, a panel was held for all of the Endeavor Entrepreneurs and candidates in attendance. Chris Grew, Partner at Orrick, Herrington and Sutcliffe and Tom Johnson, Head of UK Equity Capital Markets at Barclays, discussed topics ranging from legal best practices for raising capital to the evolving investment climate in emerging markets.

The afternoon consisted of three more consecutive panel discussions. In the first, Jordan’s Ala’ Alsalla  of Jamalon and the UAE’s Mona Ataya of MumzWorld took the stage with Pamir Gelenbe (Hummingbird Ventures/MarkaVIP) and Berkin Toktas (Revo Capital) to discuss the state of e-commerce in EMEA. A fireside chat followed featuring Peter Cummins (Monitise) and Turkey’s Firat Isbecer of Pozitron, whose company was acquired by Monitise earlier this year for $100 million.

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Entrepreneurs and investors in the speed-networking session

The final panel spotlighted liquidity in EMEA’s capital markets and featured Chris Caulkin (General Atlantic), Mark Read (WPP Digital), Ali Karaby (212 Ventures), Sean Yu (Parasut) and Lebanon’s Herve Cuilivez of Diwanee. Together, these panelists represent the value chain in EMEA’s capital markets, which led to an engaging discussion among attendees on ways to build better companies across the region.

The day ended with two rounds of one-on-one speed-networking between Endeavor Entrepreneurs and Investor Network members including teams from Amadeus Capital Partners, Accel Partners, General Atlantic and EBRD Ventures. In total, 18 firms and entrepreneurs connected for 10 minutes each, resulting in the impressive 200+ entrepreneur-investor connections.

View the event booklet here for a list of all of the entrepreneurs and investors in attendance and learn more about the Endeavor Investor Network by clicking here.

Representatives from Five Endeavor Entrepreneur Companies Attend EY Strategic Growth Forum in Shanghai

ey_logo_detail copyRepresentatives from five Endeavor Entrepreneur companies attended EY’s Strategic Growth Forum (SGF) this month in Shanghai, joining  nearly a thousand attendees in two days of networking and discussion around growth strategies in China and other international markets. With China’s rapidly growing influence on the world economy, the SGF offered attendees the chance to learn about key regional issues including government regulation, industry innovation, talent development, and corporate sustainability.

 The entrepreneurs’ companies that were represented, including Brazil’s Toys Talk and Uatt?, Egypt’s E-MasaryIndonesia’s Baba Rafi and Greece’s Out There Media, had the opportunity to explore the vast investment market in China and hear from some of Asia’s top business and industry leaders. As an Endeavor partner, EY has offered valuable services to Endeavor Entrepreneurs through events like these and sponsored programs like the EY Vantage Program.

To view highlights from the Forum, including recaps of each panel session, click here.

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Entrepreneurs and EY representatives during an SGF dinner

Endeavor Uruguay Spotlights Entrepreneur’s Multiplier Effect, Featured in El País

EndeavorUruguayEndeavor Uruguay recently published a map of Endeavor’s Multiplier Effect in the country, highlighting the local entrepreneurship ecosystem and the contributions of Endeavor Entrepreneurs. Published as part of Uruguay’s 2013 Impact Report, the map focuses on the impact of Endeavor Entrepreneur Gabriel Colla, founder of IT services firm Infocorpand the employees, investments, and ventures he has inspired throughout Uruguay. Endeavor has also mapped the Multiplier Effect in affiliate countries including Argentina, Colombia, Turkey, and Chile.

Top Uruguayan newspaper El Pais interviewed Gabriel as a result of the map, spotlighting his work as an Endeavor Entrepreneur and mentor. His Multiplier Effect  the companies, entrepreneurs, partners and employees he and Infocorp have influenced over the years  reaches over 30 of the region’s top tech and startup ventures, with many outside of the Endeavor network. In the article, Gabriel discusses the mutually beneficial relationships between mentors and entrepreneurs that encourage collaboration, knowledge-sharing and community building in ecosystems that need it the most. Read the full article in Spanish by clicking here.

Since his selection as an Endeavor Entrepreneur in 2002, Gabriel has become an Endeavor success story, leveraging the mentorship and advisory services provided to him to grow Infocorp from a small software training company into a global technology solutions firm with clients in over a dozen countries. As an active Endeavor mentor, Gabriel now provides guidance and recommendations to potential entrepreneurs in the pipeline.

View Gabriel’s Multiplier Effect in the 2013 Endeavor Uruguay Impact Report below, or by clicking here.

Indonesia's Kebab Turki Baba Rafi Expands to Brunei and Singapore

logo_Kebab-TurkiKebab Turki Baba Rafifounded by Endeavor Entrepreneur Hendy Setiono, recently announced that it has expanded its chain of fast food outlets to Brunei and Singapore. As part of a global expansion effort to enter 10 new countries by the end of the year, this announcement demonstrates a critical step towards achieving that goal. The steady success of Baba Rafi illustrates the impact that scaleup entrepreneurs can have on regional economies and job growth given access to the right mix of mentorship and professional development opportunities. 

Having reached a cooperation agreement with five other countries including Malaysia, the Philippines, the Netherlands, China and Sri Lanka, the opportunities in Brunei and Singapore cement the chain’s international reach. As two of the key markets in Southeast Asia, the strategic positions and economic impact of these countries ensures that Baba Rafi is well on its way to becoming a globally recognized brand.

What began in 2003 as a street cart operated by Hendy, Baba Rafi is now one of the world’s largest kebab food chains with more than 1,100 franchised or company-owned outlets. The “Baba Rafi Academy”, an educational platform for employees, was also started as a means to inspire social and environmental responsibility in future generations of business leaders. Since joining the Endeavor network in 2013, Hendy has received strategic mentoring from a local board of  advisors along with ongoing support from the team at Endeavor Indonesia. In addition, Hendy’s high-impact success has allowed him the opportunity to become an Endeavor mentor for potential entrepreneurs looking to join the network.

Read more about the announcement from Endeavor Indonesia by clicking here

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Hendy Setiono during a panel interview at the 51st ISP

Endeavor Saudi Arabia Celebrates the Impact of Endeavor, Convenes 200+ Influencers

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Endeavor Entrepreneurs from Saudi Arabia honored at the event

In May, Endeavor Saudia Arabia brought together more than 200 entrepreneurs, business leaders and policymakers in a gala event that celebrated the official launch of the affiliate, which was announced in 2012. The event took place in Riyadh, the nation’s capital, with key public officials including Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, and Dr. Mohammad Al-Jasser, Minister of Economy and Planning, in attendance. Kicking off with an introduction to the magic of Endeavor, local board chairman Rami Al-Turki discussed the impact of scale-up entrepreneurship on the region’s development.

“Endeavor helps entrepreneurs to unleash their potential in several ways, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms,” Rami explained during the ceremony. 

Managing Director Rakan Al-Eidi highlighted key data and facts about Endeavor’s growth and stressed the importance of supporting local role models and promoting entrepreneurship for future generations, particularly in the Middle East’s growing markets. All eight of Endeavor Saudi Arabia’s current entrepreneurs were honored at the event and discussed Endeavor’s role in helping them grow and transform their businesses. Endeavor mentor Dave McClure, founder of 500 Startups, also took the stage to underline the importance of investing in entrepreneurship in emerging economies.

Announced in 2012, Endeavor Saudi Arabia became the fifth Endeavor affiliate in the MENA region, which now includes Turkey, Jordan, Lebanon, Egypt and the UAE. Read additional coverage of the event in Arab News by clicking here

Mexico's Naranya Labs Partners with NXTP Labs to Form New Latin America-Focused Seed Fund

naranyaMexico-based seed fund and accelerator Naranya Labs, founded by Endeavor Entrepreneur Arturo Galvan, recently announced a partnership with accelerator NXTP Labs to form a new early-stage capital fund that will invest at least $8 million in Mexico’s startup ecosystem. Both firms are aiming to broaden their reach across Latin America and this new fund, supported by a grant from Mexico’s National Entrepreneur Institute, serves as a critical step. The $8 million is expected to be used to invest in 48 startups in the country while also covering follow-on investments over a period of four years. Currently, the fund’s portfolio includes more than 150 companies and aims to support up to 300 startups across the region.

With a $50 million investment target,  the fund’s fundraising stage is expected to be completed by the end of 2014. The collaboration will also ensure that the firms will have full coverage in key Latin American markets including Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.

“The support of the Mexican government is essential to promote the talent of innovative Mexican startups throughout the region. It sets an example to be followed by other countries in Latin America,” said Arturo in a statement.

Since his selection by Endeavor in 2011, Arturo and his team have been active members of the network. Arturo has served as both an ISP panelist and recommended potential entrepreneurs into the Endeavor pipeline. In addition, Naranya has participated in top Investor Network events and received custom advisory sessions with global mentors.

Read more about the partnership announcement in NXTP Labs’ press release, The Next Web, and The Miami Herald.

Endeavor and Entrepreneurs' Organization Collaborate to Further Support for Entrepreneurs Worldwide

EO_primary_CMYKEndeavor President Fernando Fabre and Entrepreneurs’ Organization’s (EO) SVP of Global Membership Brian Costanzo recently announced that the two organizations are teaming up to advance their support of high-impact entrepreneurs around the world. EO is a global non-profit business network that aims to “engage leading entrepreneurs to learn and grow”  with more than 120 chapters across 41  countries. Offering everything from educational programming to healthcare services, the membership-based organization helps entrepreneurs thrive by providing access to a number of resources focused on personal growth.

As EO expands its chapters and network, Endeavor plans to work with the organization to uncover areas for mutual growth and mission alignment in order to advance entrepreneurship ecosystems in the markets that need it the most. Endeavor’s country affiliates and EO’s chapters have already begun working together to support entrepreneurial development in nations like Mexico, Greece, Brazil, Saudi Arabia and the UAE. EO’s reach will provide valuable insight to Endeavor as it aims to expand to 25 countries by 2015.

Endeavor Entrepreneurs also expressed their support for the collaboration.

“Endeavor has helped me think big in terms of my business; EO has helped me understand that one has to be okay with oneself in order to grow a business,” said Arturo Merino of financial services firm Arccanto. “Endeavor and EO together are an explosive combination.”

“Working with both organizations has helped me enjoy growing with a wonderful and unbeatable network,” echoed Hugo Hernández Basulto, founder of Mexico-based manufacturer Lindes.

Learn more about EO by clicking here.

Barclays Advisory Session and Tour Spotlights Education-Focused Endeavor Entrepreneurs

BarclaysLogoOn May 15th, Endeavor held a Youth Impact Advisory Session & Education Tour, a day-long event in New York sponsored by Barclays and geared towards Endeavor Entrepreneurs working in the education sector. Representatives from five Endeavor Entrepreneur companies participated, including ASK for Human Capacity Building, Campoalto, Enova, IPETH, and LumniWith a focus on youth and underprivileged communities, the work of these entrepreneurs provides a range of training and educational services. Combined, their businesses employ over 650 people and serve nearly 200,000 individuals across Latin America, the U.S. and the Middle East.

The day began at Barclays’ offices in Times Square with the inaugural Barclays-Endeavor Youth Impact Advisory Session. Each Endeavor company was paired with a team of 4-6 senior executives from Barclays who provided strategic advice and guidance to address each company’s specific challenges in strategy, finance, operations and processes. In the afternoon, the entrepreneurs participated in networking sessions and discussions with one another, finding ways to foster collaboration and improve their own business operations.

Guest speaker Jeremy Johnson, Chief Strategy Officer at 2Uoffered insight into how online programs and technologies are changing the education space in both the U.S. and abroad. Carlos Dominguez, the Senior Vice President, Office of the Chairman and CEO at Cisco Systems, also stopped by to discuss innovation, organizational culture, and methods for adapting to the rapidly changing conditions of the industry. In addition, Endeavor partnered with a team from the Concordia Summit during the day to co-host a live Twitter conversation with Carlos, which engaged Endeavor Entrepreneurs and Twitter users around the world to address key issues facing the education sector. View highlights of the digital conversation by clicking here.

“It was an amazing and insightful day, the discussions in the morning with Barclays and afterwards with Jeremy and Carlos,” said entrepreneur Amin Amin of ASK. “Many thanks to the Endeavor team for all of the hard work in making this happen and for providing these amazing opportunities to all of us.”

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Endeavor Entrepreneurs from Campoalto meet with Barclays advisors

ASK

The entrepreneurs who attended represent a range of educational services and products. Learn more about their companies below:

Founded by Amin Amin, the Jordan-based ASK (Attitude, Skills and Knowledge) for Human Capacity Building develops innovative programming and offers consulting services with a special focus on education. Realizing that the biggest challenge to development in the region was the lack of human capacity, Amin’s focus on bridging the missing link between education and employment has made his organization a pioneer in the sector. With the support of a USAID-funded Education Reform Support Program (ERSP), the company is responsible for implementing the Jordan Schools Program (JSP) with operations continuing to expand throughout the Middle East. Since joining Endeavor in 2009, Amin has been active in the network, notably participating in Endeavor Summit and Investor Network events.

campoaltoColombia’s Campoalto, founded by Hugo Fernando Novoa, Alvaro Hoffmann, and Andrés Angulo, focuses on providing training in various professions to low-income students, particularly disadvantaged women. The company operates campuses across Colombia, including a fully-equipped clinical facility, and offers flexible schedules and an affordable pay-as-you-go model. The company’s team has expanded to over 16 different training programs, becoming the first institution in Colombia to be accredited in a new sector of government-regulated education. After joining Endeavor in 2010, the entrepreneurs have received custom advisory sessions from local mentors as well as support from Endeavor’s G-Lab program.

Enova

Enova is a social enterprise in Mexico that designs innovative educational models and spaces, with the mission of bringing accessible technology to low-income communities in order to close the digital divide. The organization designs, builds and operates cost-effective and sustainable educational centers called the “RIA” which provides populations in marginalized neighborhoods with access to community spaces where they can take courses, use computers and more. Enova’s e-learning courses have been made available to both children and adults and teach a wide range of subjects and skills. Founders Jorge CamilRaúl Maldonado and Mois Cherem Arana joined the Endeavor network in 2011 and have participated in custom mentoring sessions while also receiving support from Endeavor’s eMBA and EY Vantage programs.

IPETH

 IPETH, founded by Arturo Macip and Alejandro Cuervo Guevara, is a university based in Puebla, Mexico that offers bachelors degrees in physical therapy and primarily targets low-income students who would not normally be able to enroll in four-year degree programs. The university focuses on providing world class instruction and solid employment opportunities for alumni, expanding to campuses in Mexico City and developing programs at undergraduate and post-graduate degree levels. Since the entrepreneurs were selected in 2011, the company has connected with advisory board members and received introductions to top mentors, receiving strategic guidance on their expansion plans.

logo_lumni_verticalA venture capital fund that invests directly in human capital, Lumni finances education for students in exchange for a small fixed percentage of their future income over a pre-set time period. Founded by Colombian entrepreneur Felipe Vergara, the firm currently operates in Colombia, Chile, Mexico, Peru and the U.S. Since joining Endeavor, Felipe has grown Lumni to support thousands of students, with significantly low dropout and default rates. Lumni’s investors include individuals and corporations, with current and forthcoming capital funds totaling in the millions of dollars. A Wharton MBA and former consultant who has long been passionate about reducing the education gap, Felipe has grown Lumni’s innovative model since his selection in 2009 with the support of a team of local mentors and network members.

Endeavor Marketing Retreat Convenes Staff from 16 Countries in New York City

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Marketing staff members from 16 countries at the Global office

Marketing and communications staff from 16 of Endeavor’s countries spent three days in the Global offices in New York City for the organization’s first worldwide marketing retreat, which was comprised of  of workshops, speaker sessions, site visits and networking events.

Speakers with expertise in areas ranging from event planning to social media provided staff with strategic insight into their respective industries. On the first day, Ari Kuschnir of creative production company m ss ng p eces and Susan McPherson of social good consultancy McPherson Strategies addressed the topics of storytelling, brand awareness and digital marketing. With a focus on content creation and social media, the second day featured a visit to digital agency Barbarian Group and presentations from Drew Train, Business Director of brand agency OBERLAND, and Katrina Craigwell, Head of Global Digital Programming for General ElectricThe final day brought in Patricia Meier, former U.S. CEO of HSM, founded by Endeavor Entrepreneurs Eduardo Bruchou and Nelson Duboscqto discuss her experiences planning large-scale events. 

Ultimately, the retreat promoted internal discussion around global branding, content and event strategies in order to better serve Endeavor’s mission as the leading supporter of high-impact entrepreneurship worldwide. One key discussion item revolved around the usage of the Endeavor Entrepreneur seal, a logo designed to allow entrepreneurs to showcase their Endeavor distinction online or in print. For entrepreneurs interested in receiving a high-resolution version of the seal, please contact your local offices.  

Linda Rottenberg Discusses Lessons in Entrepreneurship for Stanford's eCorner Series

In this talk for Stanford’s Entrepreneurship Corner, Linda Rottenberg shares smart lessons for cutting an entrepreneurial path in a turbulent world. Touching on elements from her upcoming book, Crazy is a Compliment, Rottenberg unpacks insights from her personal journey and explores Endeavor’s work driving high-impact entrepreneurship in growing markets worldwide.

Watch the full video below and by clicking here.

Mexico's Tatiana Bilbao Profiled in The New York Times' T Magazine

TMagazineMexico-based architect and Endeavor Entrepreneur Tatiana Bilbao, founder of her own eponymous design firmwas recently profiled in T Magazine, The New York Times‘ style publication. The article highlights Tatiana’s growing prominence in the architecture world and her distinct design style that the magazine identifies as “eco-Brutalism”, referencing a modern approach to the aesthetic of 1960s and ’70s design. 

With a focus on transforming underused, neglected and remote spaces across Mexico’s urban and rural areas, Bilbao’s portfolio of work includes everything from churches to public housing to academic research centers. In addition, the firm’s designs emphasize sustainability in water and waste management and energy usage. Building upon her growing success and recognition, Tatiana aims to turn her firm’s model into a scalable business that could provide similar environmental and socially conscious creations worldwide.

Since joining the Endeavor network in 2010, Tatiana has received tailored guidance on her firm’s growth and expansion plans from a team of local mentors. In addition to the T Magazine feature, Tatiana’s work was highlighted in a Wall Street Journal article in March about open-source blueprint platform Paperhouses.

View the full T Magazine article by clicking here.

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May 2014 Newsletter

MayNewsletterTo view Endeavor’s May newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

 

Endeavor Insight's “The 13-32 Report” Examines Scaleup Companies in Peru

LimaPeruEndeavor Insight‘s “The 13-32 Report“, released with support from Omidyar Network, spotlights the contributions of scaleup companies towards job creation and economic growth in the country of Peru. This is the third in a series of reports from Endeavor Insight that focuses on scaleup ecosystems worldwide and their significance in transforming emerging markets. The first two reports in the series focused on economies in Indonesia and Colombia.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are becoming a critical component of economic and social development in Peru. The report found that these businesses represent just 13% of the country’s total number of firms but created 32% of net new jobs in the past three years. For a nation like Peru in particular, where the workforce is projected to grow by more than 2.5 million people by 2020, the demand for new jobs has never been higher. A reported 400,000 young people in Peru are currently unemployed, making up two-thirds of the national rate.

With the demand for new jobs continuing to climb, scaleup companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. As the largest job creators in the country, scaleups need access to the sort of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the region.

Endeavor officially launched its Endeavor Peru affiliate in 2014. To read the full report and learn more about the research, click here.

 

Entrepreneurship Ecosystem Insights Newsletter – May 2014

The May 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

2013 Endeavor Entrepreneur Summit Video: Roy Gilbert & Gina Bianchini

This video was filmed during Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 2013).

Entrepreneurs rarely examine any one issue in isolation, and this fireside chat is no different: recruiting, investors, growth, product-market-fit, more growth, shifting products, inspiring the team successfully and more will be covered in this session. Join Gina Bianchini, CEO and founder of community platform Mightybell (and Ning before it) and Roy Gilbert, CEO of online social learning company Grockit and former head of Google’s Global User Operations as they dive deep into these topics.

GINA BIANCHINI is the Founder and CEO of Mightybell, the first community platform built to support networks of groups. Before Mightybell, Bianchini and Marc Andreessen co-founded Ning, the largest social platform for communities of interests and passions online. She served as CEO of Ning from its inception in 2004 to March of 2010, at which time Ning had 90 million monthly unique visitors, 46 million registered users and 300,000 monthly active communities across entertainment, politics, education and interests. Gina and Mightybell have been featured in Fast Company, Bloomberg Business Week, The New York Times and The Wall Street Journal.

ROY GILBERT is Grockit’s CEO. Prior to joining Grockit, Roy was the Director of User Operations and Policy for Google, and launched and led Google’s operations in India. Before moving to India, Roy was the business operations manager for the launch of Gmail. Roy began his career as an officer in the United States Navy, where he served onboard the attack submarine USS MIAMI (SSN-755) for several classified missions. Roy graduated with a BS in computer science from the US Naval Academy as well as an MBA from Stanford.

Endeavor Launches Seventh Latin American Affiliate in Peru

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Lima, Peru – April 29, 2014 – Endeavor announced that it Endeavor Peru (web small)will expand its presence in Latin America with the launch of Endeavor Peru, the organization’s seventh office in the region. The launch is supported by some of the country’s most influential and successful entrepreneurs and business leaders, who see the potential for Endeavor’s model to boost the local economy, create jobs, and transform the region.

With a population of over 30 million, Peru has become a driver of economic and social change within Latin America, overcoming past decades of instability and fiscal uncertainty. According to data from the World Economic Forum, Peru has nearly tripled its GDP in the last decade with 6% average annual growth, boosted by government-led reforms and a rise in market-friendly policies. With new national initiatives focused on diversifying local industries, Peru is primed to enter a new era of growth as consumer spending and foreign investment continue to rise.

For Peru to continue its trajectory, providing support for local entrepreneurs and their high-impact ventures has never been more critical. The country’s burgeoning ecosystem makes it an attractive target for the Endeavor model, which will provide the country’s top entrepreneurs with access to resources that will help them realize their scale-up potential. With Peru’s workforce expected to grow by more than 2.5 million workers by 2020, Endeavor Entrepreneurs will create thousands of jobs, stimulate the local economy and become role models for future generations.

“We are excited to build our presence in Latin America and continue the momentum in the region, where the outlook for entrepreneurship has never been brighter,” said Endeavor co-founder and CEO Linda Rottenberg. “In Peru especially, which is becoming one of the region’s big economic players, Endeavor’s model can have a tremendous impact.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success.

In the past 16 years Endeavor has selected 917 high-impact entrepreneurs from 20 countries around the world in Latin America, Africa, the Middle East, Turkey, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs. Endeavor affiliates already operate in six other Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.

All Endeavor affiliates are spearheaded by a local board of leading business people, each of whom believes that high-impact entrepreneurship can spark economies. The Endeavor Peru founding board includes: Oswaldo Sandoval, Chairman of the Board of Sandoval Group.; Carlos Rodríguez-Pastor, Chairman of Intercorp; Ernest Bachrach, Managing Partner of Advent International; Diego de la Torre, President of La Viga S.A.; Alex Fort Brescia, CEO of Brescia Group; Mario Alvarado Pflucker, CEO of Graña y Montero; Juan Carlos Verme, Chairman of Inversiones Centenario S.A.A.; Jorge Medina Méndez, Managing Partner of EY Peru; Luis Felipe Castellanos, CEO of Interbank; and Eduardo Hochschild, Executive Chairman of Hochschild Mining.

“Endeavor’s launch demonstrates the vibrant entrepreneurial ecosystem that has been developing in Peru,” said Board Chairman Oswaldo Sandoval. “Entrepreneurship will be critical to the country’s growth as we look to spark innovation and spotlight Peru on the global stage.”

The board has nominated Ana Sofia Valdivia as Managing Director to oversee the successful launch of Endeavor Peru. Ms. Valdivia served previously as a manager at McKinsey with a focus on consumer goods segmentation, go-to-market strategies and transformational programs. She will lead the day-to-day operations of the Endeavor office in Lima and will be involved in screening entrepreneur candidates for consideration.

Endeavor Launches Seventh Latin American Affiliate in Peru; Releases “The 13-32 Report” on Local Scaleups

Endeavor Peru (web small)
Endeavor announced that it will expand its presence in Latin America with the launch of Endeavor Peru, the organization’s seventh country affiliate in the region. The launch is supported by some of the country’s most influential and successful entrepreneurs and business leaders, who see the potential for Endeavor’s model to boost the local economy, create jobs, and transform the region. Read the full announcement by clicking here.

In addition, Endeavor Insight’s “The 13-32 Report“, released with support from Omidyar Network, spotlights the contributions of scaleup companies towards job creation and economic growth in Peru. This is the third in a series of reports from Endeavor Insight that focuses on scaleup ecosystems worldwide and their significance in transforming emerging markets. Read more about the report by clicking here.

Highlights From Endeavor eMBAs In The Field

eMBA_webEach year, Endeavor recruits graduate students from leading U.S. business schools to spend 10 weeks during the summer working on-site with Endeavor Entrepreneurs as part of the eMBA Program, which is generously supported by Barclays. The three primary areas of focus for the eMBA projects are strategy, operations, and financing.

Over the years, hundreds of MBA students — after a highly competitive application process — have been placed with entrepreneurs across Endeavor’s affiliate countries. Endeavor ranks among the top 2% of recruiters at Harvard Business School and Stanford, and recruits from other leading schools including MIT, Penn, Columbia, Northwestern, Yale, and INSEAD.

Endeavor’s eMBAs often catalog the diverse professional and personal experiences they have during their placements for friends, family members and the general Endeavor network. Below are highlights of these write-ups that have been posted on the Endeavor Blog as part of the ongoing “eMBA Field Report” series.

2013

eMBA Field Report: A Global Business Project Journey in Brazil 

Tammy Wu, Cornell-Queen’s School of Business

eMBA Field Report: Mobile in Mexico… and Loving It

Leire Borderias, London Business School 

eMBA  Field Report: Becoming One with Acesso Digital — An Adventure That Was Anything But Ordinary

Amanda Wu, Cornell University’s Johnson School of  Business 

2012

eMBA Field Report: Explosive IT Growth, Exuberant Dancing and a Steak that Will Make You Cry In Bogotá

Manuel Alvarez Ortega, The Hong Kong University of Science and Technology

eMBA Field Report: Research and Teamwork in Egypt

Nate Wong, Yale University’s School of Management

eMBA Field Report: Spreading Innovative Design from Lebanon to Saudi Arabia

Abulaziz Baroum, Babson College’s F.W. Olin Graduate School of Business

2011

eMBA Field Report: Two Voices from Jordan

Andrea Zuluaga, London Business School

eMBA Field Report: The Emerging Giant in Santiago

Chris Zefferys, Thunderbird School of Management

eMBA Field Report: From Hong Kong to Uruguay

Rufino de la Rosa, The Hong Kong University of Science and Technology

Endeavor and Linda Rottenberg Profiled in The Christian Science Monitor

christianscienceThe Christian Science Monitor, a U.S.-based international news publication, recently profiled Endeavor CEO Linda Rottenberg and the story of Endeavor, spotlighting the organization’s journey and its rapidly growing global impact. In particular, the article calls attention to Linda and co-founder Peter Kellner’s inspiration for starting Endeavor, after the pair noticed a discernible lack of support for many skilled entrepreneurs in emerging markets.

Endeavor Entrepreneurs Ramzi Halaby, co-founder of  Jordan-based social media agency The Online Project, and Wences Casarescurrent founder of Xapo and serial entrepreneur, were both quoted in the piece discussing the effect that Endeavor has had on their own high-impact ventures. 

“Just by getting Endeavor’s feedback on our business plan, and by being challenged by different mentors and board members, our whole mind-set shifted,” Halaby says in the article reflecting on his selection. “I can tell the difference between how Jordan was before Endeavor and after. It has played a major role in building the ecosystem for entrepreneurs [here] and has made it easier for people like us to succeed.”

Read the entire Monitor article by clicking here.

Colombian Entrepreneur Alex Torrenegra Highlights Endeavor and Bogotá's Tech Sector in The Wall Street Journal

wall-street-journal-logo1Bunny Inc. co-founder and Endeavor Entrepreneur Alex Torrenegra recently authored an article for The Wall Street Journal’s Accelerators, a blog that features expert advice from successful entrepreneurs on business strategy and development. In his piece, Alex spotlights the emerging tech sector in Bogotá and offers takeaways from his experiences as one of the country’s top serial entrepreneurs.

In the post, Alex discusses the desire of many startups in emerging markets to imitate the Silicon Valley model, focusing too much on raising capital and making big exits. That desire, however, doesn’t translate to ecosystems like Bogotá that are still trying to navigate regional challenges. Alex points to research from Endeavor on the city’s tech sector that shows that, while there are hundreds of entrepreneurs, investors and tech VCs in the region, there lacks an active ecosystem of companies that are making acquisitions. Emerging market entrepreneurs are often told to think too global to quickly, focusing more on gaining investors than improving their actual offerings and customer base. The key, he argues, is to stop trying to copy Silicon Valley’s established model that only works in a leading ecosystem like the U.S., and instead focus on crafting programs and policies that are tailored to the local market.

Since joining the Endeavor network in 2013 at the 50th ISP in Palo Alto, Alex and his Bunny Inc. co-founder Tania Zapata have demonstrated their potential for high-impact growth, accelerating the expansion of their voice casting software offering with the guidance of Endeavor’s expert network of mentors and advisors. The entrepreneurs have also been active in a number of Endeavor events, including the 2013 Entrepreneur Summit and networking tours.

Read the full article in The Wall Street Journal by clicking here.

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Alex and Tania at the 50th ISP in Palo Alto

Mexico's Intellego and Chile's Agrotop Named World Economic Forum Global Growth Companies in Latin America

World-Economic-ForumMexico-based Intellego, founded by Endeavor Entrepreneurs Felipe Labbe and Eduardo Graniello, and Agrotop, founded by Endeavor Entrepreneur Karina von Baer, was recently named by the World Economic Forum as Global Growth Companies (GGC) of 2014, which highlights 16 of the region’s most innovative and high-impact companies. With growth rates above their industry averages, GGCs are ventures with the potential to become economic leaders based on their business models, growth records, and leadership in the markets they serve. The Forum’s GGC community has now grown to over 360 companies representing more than 65 countries.

After realizing that Mexican businesses needed a better way of storing large amounts of information without relying on external databases, Felipe and Vicente founded Intellego to offer solutions for information, processes, and IT management for medium and large clients. The company’s model delivers affordable solutions that utilize clients existing technology infrastructure, expanding its service offerings across a range of sectors including management consulting, supply chain management, IT outsourcing and more. With over a thousand professionals in its network, Intellego operates in six countries in Latin America and has also expanded operations into the U.S.

Since joining the Endeavor network in 2010, the entrepreneurs have sought strategic advice from Endeavor’s network of mentors on the company’s international expansion strategy and talent recruitment goals. Felipe and Vicente have also become active panelists, attended the 2013 Endeavor Gala and Summit, and are active in sourcing future entrepreneurs into the Endeavor pipeline.

With roots as a family business stretching back to the 1960s, Agrotop is a Chilean holding company with a focus on generating advanced agricultural solutions based on an innovative business model that provides technical assistance to farmers and industry professionals.  With business units ranging from Oleotop, which processes canola oil, to Granotop, which processes grains, the company has set a rare example of high-growth entrepreneurship in Chile. With a rapidly expanding agriculture industry, some of Chile’s poorest regions have found revival in their local economies with the support of Agrotop’s various businesses.

Since joining Endeavor in 2006, Karina has participated in various network events, including Endeavor Galas, strategic mentoring sessions and advisory sessions.

Read more about this year’s GGCs of Latin America by clicking here.

Endeavor Hosts 53rd ISP: 29 High-Impact Entrepreneurs from 9 Countries Join the Endeavor Network

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Florianópolis, Brazil – April 10, 2014 – Endeavor selected 29 high-impact entrepreneurs leading 16 companies in 9 countries at its 53rd International Selection Panel.

Endeavor now supports 917 High-Impact Entrepreneurs from 585 companies across 20 countries. The entrepreneurs were chosen at a panel held from April 7 – 9th in Florianópolis.

The International Selection Panel (ISP) is the conclusion of a rigorous multi-step selection process that is at the core of the Endeavor model. At the Florianópolis ISP, top business and industry leaders from eight countries interviewed candidates about their businesses and potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs.

“I am very excited to welcome these promising entrepreneurs to the network,” said Endeavor co-founder and CEO Linda Rottenberg. “Many are innovating industries in their local markets and demonstrating the potential for high-impact growth, especially in Latin America where our presence continues to expand.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Endeavor Entrepreneurs have created thousands of jobs and built sustainable growth models in their home countries, transforming local economies and becoming role models for future generations of leaders.

Endeavor will be hosting three more International Selection Panels in 2014. Locations will be New York, NY; Istanbul, Turkey and Miami, FL.

Brief descriptions of the newly selected entrepreneurs and companies follow.

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Registration at the 53rd ISP

ARGENTINA

Entrepreneur: Parker Stanberry

Company: Oasis Collections (www.oasiscollections.com)

Now you can make every destination an Oasis. Parker Stanberry founded Oasis Collections to offer travelers a curated, online platform of high-end, short-term rental properties across Argentina, Brazil, Colombia, Uruguay, and Miami. While individual property owners typically offer limited services to short-term renters, Oasis provides a complete hospitality experience that includes support from an around-the-clock, on-the-ground team, and social perks such as access to Oasis’ private members’ clubs and exclusive events. With over 700 properties in its portfolio, and a network of exclusive members’ clubs, Oasis has received international recognition in Vanity Fair, The New York Times, Conde Nast Traveler, and the Financial Times, among others.

Entrepreneur: Mauro Bono

Company: Savant (www.savant.com.ar)

Given the lack of innovation in Argentina’s pharmaceutical industry, Mauro Bono has the perfect prescription for his country – Savant. Savant manufactures and distributes a variety of pharmaceuticals, using an innovative manufacturing process that results in higher margins for pharmacists and more affordable drugs for end consumers. From its factory in the remote 2,500-person town of El Tío in central Argentina, Savant produces over 100 million drug tablets annually for thousands of pharmacies in Argentina and exports to 16 countries, including Vietnam, Lebanon, and Mozambique.

BRAZIL

Entrepreneurs: Cristiano Brega, Guarany Guimarães, Fernando Magero & Bruno Braga

Company: Confiance Medical (www.confiancemedical.com.br)

Scar no more! Through its video surgery equipment, Confiance helps doctors perform minimally invasive surgeries that leave smaller scars and have quicker recoveries than traditional open surgeries. While video surgery is a relatively standard practice in US hospitals, only premier hospitals in Brazil can afford the equipment. Awarded High-Impact Company of the Year by Brazilian’s leading SMB magazine in 2013, Confiance dreams of closing the gap between the elite and second-tier hospitals by making video surgery accessible to a broader population.

Entrepreneur: Rafael Ribeiro Madke

Company: Grupo RPH (www.gruporph.com.br)

Grupo RPH has the power to bring Brazil’s medical imaging techniques to electric new heights. The company sells cold kits, which are connected to radioactive products that illuminate patients’ organs under scans, creating precise, dynamic images that aid in medical diagnosis and treatment. Until recently, the Brazilian government dominated the highly regulated, US$80 million nuclear medical market, leading to inefficient business practices and stagnant growth. Grupo RPH is the first private company in Brazil licensed to manufacture and sell cold kits, and has already signed on major clients such as Hospital Sírio Libanês, Albert Einstein Hospital, and Beneficiência Portuguesa.

Entrepreneurs: Sergio Bertucci & Milena Satyro Bertucci

Company: Star Think Uniforms (www.staruniforms.com.br)

While professional uniforms often look generic and fit poorly, Star Think Uniform’s custom- designed collections combine high fashion and functionality to ensure that employees always look their best. Founded in 2005 by Milena and Sergio Bertucci, Star Think Uniforms has designed unique collections for over 30 clients and is constantly adapting to increasing demand: having started in a 70 m2 production facility, the company has since outgrown five additional plants and now outsources production. In the next few years, Star plans to introduce new business intelligence tools and a proprietary clothing sizing technology.

Entrepreneurs: Marco Carvalho & Ivan Zorn

Company: Toys Talk (www.toystalk.com)

Toys Talk is setting out to prove that you can build a successful global business out of fun and games! Founded by Marco Carvalho and Ivan Zorn in 2008, Toys Talk creates, develops, and brings to market high-quality and high-tech toys for children. With headquarters in Belo Horizonte, Brazil, and Shantou, China, Toys Talk has a global presence and has been recognized by international industry magazines including Toys World and Toys News. The company’s explosive growth over the past two years has been driven by sales of existing product lines including Spark Dogz, one of the “Top 10 Most Wanted Toys in 2011” according to industry press.

Entrepreneurs: Gabriel Bottós & Rafael Bottós

Company: Welle (www.wellelaser.com.br)

Hoping to dominate a niche market in the manufacturing sector, Welle is innovating the Brazilian laser-cutting industry by providing reliable and efficient equipment to clients that will, in turn, provide better products and services to consumers. Currently, most laser machines on the market are needlessly expensive and energy-consuming. Welle manufactures cost-effective, durable, and precise laser cutting, tracing and cleaning machines that better fit the needs of most of the firms it serves. Barely six years-old, Welle is already Brazil’s leading laser technology supplier, with clients including Whirlpool, Bosch, and Petrobras, among others.

CHILE

Entrepreneurs: Juan Pablo Marín & Francisco Marín

Company: Eco-Lógica (www.eco-logica.cl)

Chile’s trash is Eco-Lógica’s treasure. Based in Santiago, where 98% of companies fail to comply with environmental policies, Eco-Lógica helps its industrial clientele reduce, reuse, and recycle. Juan Pablo and Francisco Marín have developed a comprehensive, end-to-end corporate waste management solution that allows clients to dispose of waste safely and efficiently. As the only player in Chile with its unique blend of waste disposal services, Eco-Lógica is uniting Chile’s formerly distinct waste management sectors for solid waste, hazardous waste, and recycling.

Entrepreneurs: Victor Vargas & Alex Parnas

Company: Urbano Design (www.urbanodesign.com)

Though its products are designed to protect, Urbano Design is breaking the mold of the mobile accessories industry. In the early 2000s, Latin Americans looking to personalize their electronic devices were limited to a few bland color options. Victor Vargas and Alex Parnas transformed this market with Urbano by combining function and fast fashion, quickly replicating catwalk trends and popular graphic designs to add aesthetic appeal to the latest tech accessories. Through its fully integrated supply chain, Urbano produces smartphone cases, laptop and tablet sleeves, headphones, and chargers that reach its 14 kiosks across Chile, Peru, and Argentina, as well as Latin America’s largest retail outlets, in as little as 20 days.

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Attendees at the first night’s Welcome Dinner

COLOMBIA

Entrepreneurs: Pablo Atuesta, Nicolás Borda & Juan Rebolledo

Company: Groncol (www.groncol.com)

With only 5m2 of green space per inhabitant, Bogotá is far from meeting the World Health Organization’s standard of 15m2 per resident for a healthy urban environment. Groncol seeks to reverse this trend and transform Colombia by designing, producing, and installing green walls and rooftops made of real plants and vegetation. Operating in a global US$6 billion market for vegetated infrastructure products, Groncol has built the largest green wall in the country (360 m2) and over 45,000 m2 of rooftops. It has added millions of dollars in economic value to its clients’ buildings, creating a measurable environmental impact with projects that compensate for CO2 emissions produced by thousands of individuals.

GREECE

Entrepreneurs: Sotiris Papantonopoulos-Mantopoulos & Manolis Marsellos

Company: Money-Market (www.money-market.gr)

With multiple insurance providers and offers to choose from, determining the right insurance policy can be tiresome, difficult, and costly. Sotiris Papantonopoulos-Mantopoulos and Manolis Marsellos established Money-Market, an online insurance aggregator, to create an easier and more affordable way for Greeks to compare and purchase automobile, motorcycle, boat, and home insurance policies. Money-Market currently operates the leading online insurance aggregator in Greece’s US$6 billion insurance market, facilitating tens of thousands of active policies in 2013. To continue to accelerate its growth, Money-Market plans to expand beyond auto insurance into health insurance in 2014, and pensions in 2015.

MEXICO

Entrepreneur: Eymard Arguello Mancilla

Company: Agua Inmaculada (www.aguainmaculada.pe)

Agua Inmaculada has made a splash in the clean-water technology market. Since founding the company in 2002, Eymard Arguello Mancilla has been developing new ways to bring clean, potable water to the base of the pyramid in Mexico. Today, over 50 million people in Mexico lack access to clean water. By selling water purification systems to small business owners, Agua Inmaculada (Immaculate Water) seeks to offer a low-cost, high-quality alternative to bottled water and the market-leading systems offered by multinational CPG companies. Nearly 5,000 small businesses have purchased Agua Inmaculada’s equipment, installing water purification systems that provide countless individuals access to clean water.

Entrepreneur: Mateo Dornier

Company: Campo Vivo (www.campovivo.com.mx)

All vegetables are not created equal. With the amount of chemical fertilizers and pesticides sprayed on produce, even the most nutritious fruits and vegetables can have negative effects on consumers’ health. Campo Vivo solves this problem by bringing high-quality certified organic produce and processed grocery goods to the Mexican consumer. With a commitment to offer farmers fair market prices and offer consumers high-quality, affordable, organic foods, Campo Vivo distributes the country’s largest selection of organic products to more than 800 supermarkets and coffee shops across Mexico, including Walmart and Starbucks outlets. Over the next few years, Campo Vivo plans to accelerate new product development, add additional big-name retail clients, and begin exporting to European markets.

MIAMI

Entrepreneurs: Lionel Carrasco & Marcela Henao

Company: Leapfactor (www.leapfactor.com)

Some products sell themselves; for everything else there’s Leapfactor. Too often, field sales teams selling 21st century products rely on 20th century tools: pen-and-paper contracts, paper brochures, and antiquated CRM systems. Moreover, the old methods fail to create the engaging, interactive experience that customers expect in the digital era. Lionel Carrasco and Marcela Henao founded Leapfactor in 2009 to reinvent field sales execution; Leapfactor’s mobile app, Salesfactor, is a sleek and intuitive product that provides the tools to increase revenues and efficiency. Operating in the US$25B B2B mobile app market, Leapfactor has succeeded in attracting premier clients across industries, such as Avon, AstraZeneca, L’Oreal and HD Supply.

SOUTH AFRICA

Entrepreneur: Bevan Ducasse

Company: wiGroup Pty Ltd (wigroupinternational.com)

The world of mobile transacting is growing so rapidly that merchants are unable to keep up with, integrate to, and update their stores for each of the ever-increasing transaction applications the market has to offer. wiGroup simplifies this process through its cloud-based software, the wiPlatform, which enables mobile transacting from any application at any merchant through a simple integration with a retailer’s POS system. Since launching its platform in 2011, wiGroup has already processed over three million transactions worth over US$200 million and expects to continue this rapid growth on the back of South Africa’s booming m-commerce sector.

URUGUAY

Entrepreneurs: Carolina Bañales & Agustina Sartori

Company: AdviseMeTech (www.advisemetech.com)

Whether shopping online or in stores, three quarters of female consumers find the process of finding and choosing the right makeup frustrating. Fortunately, Carolina Bañales and Agustina Sartori are revolutionizing cosmetics for the 21st century through AdviseMeTech, a web-based program that allows women to virtually try on makeup through their own uploaded images. The company’s B2B software is embedded in retailers’ websites, while its B2C ecommerce platform, GlamST.com, allows women to directly try on and purchase products online.

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Observers during an entrepreneur interview panel

Entrepreneur Connections: Saudi Arabia's Shawarmer Makes Endeavor Connection with South Africa's Taste Holdings

shawarmertaste

Demonstrating the impact of Endeavor’s global network, two Endeavor Entrepreneurs recently made a cross-regional connection, leveraging each other’s expertise in the food and beverage industry to share best practices and gain new insights on business development. Abdulmohsin Al-Rabiah, founder of Saudi Arabia’s Shawarmermade a visit last month to South Africa to the headquarters of Taste Holdings, founded by Endeavor Entrepreneur Carlo Gonzaga, with the goal of examining Taste’s growth and operations strategies for its portfolio of franchised brands.

A management group that invests in a number of franchised food and consumer retailers, Taste Holdings has grown to over 600 outlets across South Africa, bringing names like Scooters Pizza, Maxi’s Grill, Domino’s, NWJ Jewelry and more to the region. Having created thousands of new jobs and crafted a successful investment model, Carlo and Taste have seen year-over-year revenue growth and attracted the attention of a  number of international retailers. With Shawarmer, a chain of nearly 30 fast food restaurants across Saudia Arabia, Abdulmohsin was looking to gain insight from Taste’s success that would relate to his own franchise model and help him accelerate his brand’s growth while streamlining operations.

Over the two-day visit, Abdulmohsin met with Carlo and also visited outposts of Taste’s most popular franchises, meeting with branding and operations executives while getting an in-depth look at production and distribution centers. The main objectives were to explore Taste’s efforts across its marketing, legal and revenue structures and learn about the advantages and challenges of its vertical integration processes. Ultimately, Abdulmohsin was able to gain a better understanding of how to balance corporate ownership with franchisees, maintain operations standards, improve employee culture, and make technical improvements to his supply chain.

Since joining Endeavor in 2007, Carlo has become an entrepreneur success story, serving as a mentor, ISP panelist and South Africa Board Member and helping to inspire future generations of entrepreneurs in his region. While only selected in 2013, Abdulmohsin is demonstrating his high-impact potential with connections like this, continuing to work closely with Endeavor’s network of mentors and experts to accelerate his brand’s expansion.

AbdulTASTE

Abdulmohsin meeting with a team at Taste Holdings

Mexico's Carrot Raises $2 Million In New Funding Round, Aims to Lead Car-Sharing Market

Carrot-car-450x300Mexico-based Carrot, founded by Endeavor Entrepreneurs Diego Solorzano and Jimena Pardo, recently raised $2 million in a series B funding round led by Venture Partners. With participation from Auria Capital  and previous backer Mexico Ventures, the company’s total funding has reached $3.5 million.

The car-sharing model, similar to the popular U.S.-based service Zipcar, is looking to lead the car-share industry in the region, offering an alternative to vehicle ownership and rentals in the emerging Mexican market. Over the next two years, the Carrot team aims to expand to 10,000 members in 15 cities and add more than 300 cars to its fleet. Following the acquisition of competitor Ubicar in 2012, Carrot currently operates in Mexico’s three largest metro areas. The investment will help the team continue to drive plans for national expansion while also exploring other markets in the region.

Since joining Endeavor at the 44th Endeavor ISP in London in 2012, Diego and Jimena are demonstrating their high-impact potential by becoming active members of the network, receiving custom advising from local Endeavor mentors and participating in Endeavor Investor Network events.

Read more about Carrot’s funding news in TechCrunch.

Global Board Member Fadi Ghandour Discusses Barriers to Scale for MENA Entrepreneurs

dubaiThis post comes from Fadi Ghandour, who is the founder of Aramex, a board member of Endeavor, and the Chairman of Wamda, an organization that works to empower entrepreneurs in the MENA region. View the original post on the Entrepreneurship Ecosystem Insights page.

“Two-thirds of the Arab World ‘s population is below the age of 29. The region is not only growing younger, but also becoming more literate. With rising levels of education, connectivity, and mobility, the biggest challenge remains: How do we create good jobs for the restless millions?

Entrepreneurs are drivers of growth, innovation, and competitiveness. A recent World Bank report on small and medium sized companies (SMEs) shows that the highest contributors to employment are firms with less than 100 employees. And, not surprisingly, it is scalable businesses that generate the biggest share of economic opportunities. A study conducted by the World Economic Forum in collaboration with Stanford University and Endeavor in 2011 reveals that the top 5% of the 380,000 companies surveyed across 10 European and Asian countries have generated 72% of total revenue and 67% of the total employment recorded by these companies.

And yet, although scalability is critical for job creation, company founders still encounter many barriers when starting and growing their businesses. For startups to thrive, the different ecosystem players must understand the nature and source of these obstacles and work hard to eliminate them. But without comprehensive, up-to-date data they will not be able to craft viable, practical solutions.

Wamda’s newest initiative, the Wamda Research Lab (WRL), is focused on publishing research and insights on regional entrepreneurial activity to inform policy makers, investors, and other stakeholders on the critical challenges and gaps in this space. In its first report, The Next Step: Breaking barriers to scale for MENA entrepreneurs, WRL identifies the hurdles company founders face in generating revenues, raising capital, attracting talent, building teams, and facilitating expansion. Our study reveals that 63% of entrepreneurs and 60% of experts consider finding talent to build teams as a major challenge. Access to new markets is yet another central issue: 47% of entrepreneurs and 50% of experts cited difficulty in finding partners to facilitate expansion as an impediment to scale. Moreover, 41% of entrepreneurs said that the biggest restraint to generating revenues is marketing products and services.

The fact remains that the region’s outdated education systems, which continue to graduate generations of unemployable youth with no competitive 21st century skills, and its fragmented markets that allow little mobility of people and companies, are stifling the growth of entrepreneurs, and innovators. Unemployment needs to be considered in every policy, national strategy, private-sector initiative, and social activity. It is time we collectively deploy our knowledge, resources, capital, and networks to enable entrepreneurship as a development tool. I encourage all stakeholders – governments, investors, entrepreneurship institutions, universities, civil society, large corporations, and entrepreneurs – to read this report and take its conclusions seriously, in the hope that they will trigger effective action and positive change.

Finally, I would like to thank Endeavor Insight for their guidance, support, and expertise throughout the entirety of this project.”

Colombia's Ecoflora Featured in WIPO Case Study Highlighting Advancements in R&D

LogoEcoflora2Colombia-based Ecoflora, founded by Endeavor Entrepreneur Nicolás Cock Duque, was recently profiled in a case study by the World Intellectual Property Organization, a global forum for IP services, policy and cooperation, created as part of the United Nations and including more than 180 member states. The group’s mission is to lead the development of an international intellectual property system that enables and protects innovation and creativity rights. Ecoflora’s patent and trademark progress in the biotechnology space caught WIPO’s attention, leading to an in-depth study on how the company leverages its assets, fosters private-public sector collaboration, and pioneered an industry in an unexpected market.

A biotech and natural products company that provides a range of alternative ingredients for use in agriculture, food and personal care products, Ecoflora has transformed the region’s industry and demonstrated potential for high-impact, global growth. With over 15 products and 30 applications developed over the past decade, Ecoflora is a testament to the potential of emerging markets to drive innovation despite challenging economic factors, having already filed for nearly a dozen patents on an international scale.

Originally a family-owned flower business established in 1998, Ecoflora presented Nicolás – a civil engineer by trade – with the opportunity to develop commercial and sustainable products for the horticultural industry. By 2012, the company had over 15 major products in its portfolio, ranging from EdiBlue, a food and beverage colorant, to Myrica Waxm, a berry extract that can be used as a base in cosmetics and soaps. Having struck partnerships with universities, government institutions and laboratories to develop its products and promote agricultural research, Ecoflora is uniquely positioned to bridge barriers to scale in the region and take its niche market to a global stage.

Now with over 40 employees in his Medellin headquarters alone and over 20 R&D laboratories in his network, Nicolás has demonstrated how access to mentorship, capital and talent can enable emerging market entrepreneurs to become high-impact leaders. Since being selected as an Endeavor Entrepreneur in  2007, Nicolás has been an active network member, receiving  local publicity support and mentorship while also participating in the eMBA and G-Lab programs, the 2013 Endeavor Summit, and more.

“Endeavor helped us refine our global strategy and business model as well as understand our opportunities for scale,” Nicolás said in an interview. “With our intellectual property in particular, Endeavor mentors offered invaluable advice that will help guide our international expansion strategy and show that Colombia is a cradle of sustainable innovation and talent.”

Read the entire WIPO case study by clicking here.

Endeavor and the SAP Social Sabbatical Program Featured in Stanford Social Innovation Review

SSIR_Logo_2013The Stanford Social Innovation Review recently profiled the Social Sabbatical program at SAP, an Endeavor sponsor, and the software giant’s efforts to transform emerging market economies by leveraging the expertise of its employees. Developed in partnership with  PYXERA Global, the program offers high-performing employees the chance to work with emerging market organizations and entrepreneurs in order to gain critical leadership and cross-industry skills.

Co-authored by Alexandra van der Ploeg, interim head of global CSR at SAP, and Deirdre White, CEO of PYXERA, the article emphasizes the need for corporations to better equip their talent base with knowledge of emerging markets, while also giving employees the opportunity to pursue socially-conscious causes. Launched in 2012, the Social Sabbatical program is SAP’s initiative to address these understandings, allowing employees to participate in short-term pro-bono assignments with growing organizations around the world.

In particular, a global group of 12 SAP employees, including marketing managers, software engineers, quality controllers and more, traveled to Johannesburg in October 2013 to spend a month advising four organizations, including the team at Endeavor South Africa. In order to address the challenges of growing a network of mentors and potential investors, three SAP employees worked with the local office to design an implementation strategy for an Investor Network event, research prospective markets and investors, and craft an internal and external marketing strategy. Learn more about Endeavor South Africa’s work with the program by clicking here.

Earlier in 2013, the Review also highlighted Endeavor’s partnership with EY on the Americas Corporate Responsibility (CR) Fellows Program (now the EY Vantage Program), which also places high-performing employees on short-term assignments with emerging market companies. In the piece, Endeavor CEO Linda Rottenberg and Deborah K. Holmes, EY Americas Director of Corporate Responsibility, presented essential tips for designing successful CSR programs. Since 2006, EY Fellows have donated nearly 30,000 hours to working with Endeavor Entrepreneurs in the Americas.

View the full SSIR piece by clicking here.

April 2014 Newsletter

April 2014To view Endeavor’s April newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Endeavor Catalyst Invests in Argentina’s GoIntegro and Brazil’s ToLife Following New Rounds of Funding

Endeavor-Catalyst-LogoEndeavor Catalyst recently announced co-investments in Argentina’s GoIntegro and Brazil’s ToLife following new rounds of financing raised by both companies. Led by Riverwood Capital and Kaszek Ventures, GoIntegro’s $5 million Series B round will help the growing software firm continue its expansion efforts in Latin America. Similarly, ToLife’s Series B round led by Vox Capital will support the healthcare technology firm’s plans to serve more health centers and patients throughout Brazil.

gointegroFounded by Endeavor Entrepreneurs Germán Dyzenchauz and Gaston Lejtman in 2002, GoIntegro is a leading SaaS social engagement platform for companies in Latin America, offering a suite of software applications to manage internal communications, corporate benefits, recognition programs and incentives. With presences in Argentina, Brazil, Chile, Colombia, Peru, Uruguay and Ecuador, the company boasts more than 300 corporate clients and reaches upwards of one million daily users with revenue growth of 30% in 2013. As a result of this latest investment, GoIntegro aims to further its expansion efforts in Latin America, specifically in the Mexican and Brazilian markets. Riverwood and Kaszek also led the company’s Series A round in 2012, and this latest announcement reaffirms investor faith in the entrepreneurs’ high-impact business model.

Since joining the Endeavor network in 2011, Germán and Gaston have received custom mentoring and strategic advising from Endeavor’s network along with connections through Endeavor Investor Network events, culminating in Endeavor Catalyst’s participation in this latest round.

“Being selected by Endeavor as high-impact entrepreneurs was incredibly helpful in allowing us to achieve our growing goals, close investment rounds and share experiences with an extensive network of mentors and entrepreneurs,” said Germán in a statement. “We feel part of a community around the world with common problems and challenges, and Endeavor is the epicenter of it all.”

TolifeBased in Belo Horizonte, Brazil, ToLife was founded by Endeavor Entrepreneur Leonardo Lima de Carvalho in 2009 with the goal of innovating Brazil’s healthcare system, which has been plagued by inefficiencies and lagging patient wait times. ToLife is a system that automates the patient screening process based on individual risk ratings, leveraging internationally recognized health protocols. The system manages the flow of patient care in emergency units and monitors the capacity of other care centers in the surrounding area with its three-part software, hardware and service bundle. Since its founding, the company has worked to cut both the risk of mortality caused by cardiovascular complications and the average patient wait time in half, having implemented more than 5,000 healthcare units across 850 Brazilian cities.

Since joining the Endeavor network in 2012, Leonardo has received local advisory services from Endeavor mentors and participated in global events like the Endeavor Summit and Endeavor Investor Network sessions. It was at a June 2012 Investor Network event in London that Leonardo made a connection with Kelly Michel, the UK-based co-founder of Potencia Ventures and Vox Capital. This introduction ultimately led to Vox Capital’s Brazil team becoming the lead investor on this recent round and Endeavor Catalyst’s ability to participate.

About Endeavor Catalyst

Endeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities. Learn more about Endeavor Catalyst by clicking here.

Endeavor Investor Network Highlights Growing Presence in Mexico

Investor network LogoIf you’ve been following the impressive rise of entrepreneurship in Mexico, you’ve likely heard of mobile media juggernaut Naranya, car-sharing service Carrot (who recently picked-up an additional $2m in funding) and IT services leader Intellego (just last week named a World Economic Forum Global Growth Company in Latin America), but what you may not know is that all of these are Endeavor portfolio companies. These entrepreneurs represent a new wave of entrepreneurs that are successfully navigating Mexico’s capital markets to scale global companies and inspire the next generation of entrepreneurs to do the same.

Naranya, Carrot and Intellego represent only three of the 80+ companies in the Endeavor Mexico portfolio today. Within this impressive group, nearly 25% have plans to bring on an equity partner this year – including exciting, earlier-stage companies like YaxiParkimovil, and Petsy.

In addition to backing some of the fastest growing companies in the country, Endeavor Mexico also officially launched the Mexico chapter of the Endeavor Investor Network in October 2013. In just a matter of months, the Endeavor Investor Network chapter in Mexico has grown to be one of the largest and strongest Endeavor Investor Network offerings at any of Endeavor’s world-wide affiliates. At the helm of this impressive network is Vincent Speranza, COO of Endeavor Mexico, who has grown the network to 10+ member firms, who collectively represent the strongest equity capital partners in Mexico. Participating member funds include:

Alta Ventures
Angel Ventures Fund
Founders into Funders
GBM
InventMx 
Latin Idea
Naranya Ventures
NMP Fund
ON Ventures
PC Capital
Promotora Social Mexico (PSM)
Venture Partners 

Notably, four of the eleven new members are investment funds led by Endeavor Entrepreneurs themselves: Heberto Taracena Ble (InventMx); Juan Manuel Alvarado (Founders into Funders); Alejandro Villalón and Jorge Gonzalez (ON Ventures) and Arturo Galvan (Naranya Ventures). As the profile of successful Mexican entrepreneurs – and investments – becomes increasingly common in discourse globally, Endeavor has noticed a rise in international interest both from the investment community and Silicon Valley’s leading tech companies. We saw this in action during the Endeavor Investor Network event in Mexico last October 2013 (read more here), where global investors like Amadeus Capital, AMEX Ventures and Bessemer Venture Partners descended upon Mexico City together with corporate leaders from companies such as Facebook, EA and Stripe.

The Endeavor Investor Network will next convene a global gathering in Mexico City or Monterrey in November 2014 (exact date TBD), but should your travel plans take you to Mexico in the coming months, please don’t hesitate to be in touch!

Endeavor Investor Network Interview with Nils Galdo Nogales, Founding Partner of InverSur Capital

nilsgaldoThis interview is the first of an exclusive series highlighting members of the worldwide Endeavor Investor Network. Earlier this month, Mariana Poblete of Endeavor Chile caught up with Nils Galdo Nogales, Founding Partner of InverSur Capital (iS Cap) — an Endeavor Investor Network member in Chile (2013-present) to gather his insights on investments in Latin America.

ENDEAVOR: Tell us a little bit about InverSur Capital (iS CAP).

NILS GALDO NOGALES: In early-2013, we raised our first fund of USD $35M, through which we expect to invest in 10-12 companies. Our average ticket size is USD $1.5M, with considerable capital reserved for follow-on investments. To date, our fund has invested USD $4.3M in three companies and expects to invest in three additional companies by the end of this calendar year (2014).

Our fund’s geographic thesis is the Southern Cone of Latin America, with a particular focus on Chilean companies. Through our current fund, we invest primarily in the Information and Communication Technology (ICT) sector. We will consider investing in other economic sectors through future funds.

ENDEAVOR: Which firms have co-invested with InverSur? Have you invested in any Endeavor companies?

NILS GALDO NOGALES: To date, we have co-invested with Angel Investors, Copec UC and Fundación Chile. As we continue to invest in this region, we are open to syndicating deals with both current and new global/regional equity investors. We have not yet invested in an Endeavor company but recently backed an Endeavor pipeline company — Mediastream. We would be proud if our entrepreneurs could later become Endeavor Entrepreneurs.

ENDEAVOR: What are the current trends that you see in Chile and LatAm?

NILS GALDO NOGALES: Overall, we see the continuing growth of entrepreneurial and VC activity. More and more entrepreneurs are choosing Chile as their launch-pad for development and the VC industry is matching this growth in entrepreneurship with additional funds.

Although the exit environment in the Southern Cone is yet to be proven, with firms like ours working to develop a clear path for local and /or regional “exits,” we hope to see a big impact in the next couple of years.

Over time, the entrepreneurial ecosystem of Latin America has matured and is presenting a more innovative, resourceful generation of entrepreneurs. This provides a base for both entrepreneurs and other related actors to aim for larger and better growth opportunities. Entrepreneurs from Chile are thinking of the broader region as the potential market for their company, which is contributing to the robust business opportunities that are present in our market.

ENDEAVOR: Any advice for international investors looking to enter the Southern Cone?

NILS GALDO NOGALES: It is always good to have different kinds of actors in the Latin American entrepreneurship ecosystem. My suggestion for international investors is to try to do things with the local ones to better understand the particular contexts as well as business operating norms. For local actors it is good to work with our international counterparts to learn from their experiences and share ours.

ENDEAVOR: Is there anything else that we should know about InverSur?

NILS GALDO NOGALES: The iS Cap office is located in Telefónica´s Open Future, a 1600 square-meter building in Santiago, Chile that hosts the largest entrepreneurial community in the region. Over 700 start-ups have their HQ in the building. Some tenants include Telefónica, BCI (4th largest bank in Chile) and Start-Up Chile, giving us early access to start-ups and tendencies that put InverSur Capital at the center of the local ecosystem.

InverSur Capital(iS Cap) is a member of Endeavor’s Investor Network in Chile. The fund was co-founded in early-2013 by Nils Galdo NogalesThe fund invests in Information and Communication Technology (ICT) companies with proven business models and the potential for global scalability. iS Cap through its Amerigo Chile Fund is part of the Amerigo network of technology venture capital investment funds, promoted by Telefónica. The Amerigo Network has operations in Brazil, Chile, Colombia and Spain.

Nils Galdo Nogaleshas over 10 years of experience in the entrepreneurial and venture capital ecosystem in Latin America. Prior to co-founding InverSur Capital, he co-founded and led ChileGlobal Angels, the angel network sponsored by Fundación Chile. Prior to that, Nils worked for Endeavor Chile; Nils is an active mentor and advisor to several regional companies and initiatives.

Endeavor Research Featured in Top Outlets Including The Atlantic, Inc. Magazine and The New York Times

IncNYTAtlanticRecent research released by the Endeavor network was featured in top news publications including The Atlantic, Inc. Magazine and The New York Times, highlighting a growing public interest in global entrepreneurship and the efforts of high-impact entrepreneurs.

Inc. Magazine, The Atlantic and The Atlantic Cities profiled Endeavor Insight’s findings on what entrepreneurs look for in a city and the qualities that prove most attractive to founders. Read a recap of the articles by clicking here.

In addition, research from Endeavor Greece on the country’s entrepreneurship and investment opportunities was mentioned in a piece in The New York Times and spotlighted in a BloombergTV interview with Endeavor Greece Managing Director Haris Makryniotis. Read about the research and view the interview by clicking here.

Entrepreneurship Ecosystem Insights Newsletter – April 2014

The April 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Endeavor Staff Featured at the 2014 Global Entrepreneurship Congress in Moscow

GEC2014The 2014 Global Entrepreneurship Congress  took place in Moscow, Russia this year from March 17th – 20th, convening industry leaders, top entrepreneurs and policymakers in an annual event that promotes ecosystems of entrepreneurship and innovation worldwide. The main planning event for Global Entrepreneurship Week, an Endeavor partner, this year’s GEC was also co-hosted by the Moscow City Government and the Kauffman Foundation. Eleven members of Endeavor’s staff attended representing offices in Argentina, Brazil, Chile, Colombia, Mexico, Turkey, Uruguay, and the U.S.

With over 7,000 participants from more than 150 countries, the four day conference highlighted themes ranging from ecosystem development to startup financing, featuring an agenda of over 80 events taking the form of interactive workshops, keynotes and speaker sessions. Notable speakers this year included Peter Vesterbacka, CMO of Rovio Entertainment, Kathleen D. Kennedy, Chief Strategy Officer of MIT Technology Review, Boris Titov, Russian Federation Presidential Commissioner for Entrepreneurs’ Rights, Karim Rashid,  industrial designer and architect, and Ingrid Vanderveldt, Entrepreneur-in-Residence at Dell.

From the Endeavor network, five staff members had the opportunity to speak at this year’s events, demonstrating the organization’s growing role in the global entrepreneurship landscape. Below are highlights of Endeavor’s participation this year.

Endeavor Insight Director Rhett Morris spoke on a panel focused on “Moving Towards Evidence-Based Policy-Making”, which highlighted the disparity between entrepreneurship policy and the actual needs of entrepreneurs and small business owners. During the panel, Rhett pointed to a recent Endeavor Insight report on Miami’s entrepreneurship ecosystem, which revealed that what entrepreneurs viewed as their biggest challenges differed from the views of policymakers, reinforcing the need for local leaders to craft programming and agendas based on more research and direct feedback from entrepreneurs. In addition, Rhett moderated a panel on “Mapping Entrepreneurship Ecosystems”, which highlighted an emerging field of data visualization that focuses on trends in entrepreneurship and seeks to better identify and understand global ecosystems. In particular, the panel discussed the need for organizations to share research and data and involve entrepreneurial communities in the process of mapping, which has the potential to reveal significant patterns and insights to business leaders, policymakers and the general public.

Endeavor Global’s Marissa Carberry, a Manager on the Marketing & Communications team, participated in a “Social Media 101″ panel session tailored to GEW Lead Hosts, with the goal of identifying best practices for managing social media campaigns and maximizing engagement during GEW. Marissa and Endeavor Turkey‘s Senior  Marketing Associate Alev Ertem discussed a joint Endeavor social media campaign entitled #EndvrTale conducted during GEW 2013, highlighting Endeavor Entrepreneurs and taking advantage of the week-long social conversation occurring around global entrepreneurship. Read more about Endeavor’s efforts during GEW 2013, including highlights from Twitter, by clicking here. Alev also made note of Endeavor Turkey’s partnership with Endeavor Entrepreneur company Youthholding, founded by Aslı Caner and Emrah Kayawhich has helped the office improve its digital and social presence across multiple channels with a particular focus on engaging younger generations of entrepreneurs in the region.

Managing Director of Endeavor Argentina Gabriela Macagni participated in a session of presentations entitled “Pitches and New Ideas”, which allowed various organizations to present innovative developments in their programming or events. Gabriela introduced the Startup Camp Latin America program, a series of digital events hosted by Argentina during GEW 2013 that convened over 4,000 Latin American entrepreneurs online for educational and support programming focused on startups. Finally, Pamella Goncalves from Endeavor Brazil‘s Entrepreneur Services team spoke on a panel session focused on “Metrics, Impact & Funding”, detailing methods for measuring and gauging the impact of entrepreneurship-focused organizations.

Endeavor has a been an active supporter of the GEC since it launched in 2009, even co-hosting the 2013 GEC in Rio de Janeiro which also featured many members of the Endeavor network, including staff, mentors and entrepreneurs. To learn more about this year’s conference, including summaries of the events and video highlights, click here.

Two Mexico Entrepreneurs Named Schwab Foundation Social Entrepreneurs of the Year for 2014

schwab foundationThe  Schwab Foundation Social Entrepreneur of the Year Awards is an annual list of the top innovators driving global, regional and industry agendas to improve the state of the world. The 2014 list of 30 entrepreneurs includes two Endeavor Entrepreneurs from Mexico – Javier Lozano, co-founder of Clinicas del Azucar, and Patrick Struebi, founder of Fairtrasa. This honor demonstrates the impact of Endeavor Entrepreneurs in the social sector and the increasing global recognition of entrepreneurs working to transform under-served communities.

Javier co-founded Clinicas del Azucar (“Sugar Clinics”) with fellow entrepreneur Fernanda Zorrilla in order to serve diabetes patients in Mexico, where the disease claims the lives of tens of thousands each year. The chain of low-cost diabetes management clinics aims to address issues of prevention, treatment and awareness in low-income communities where proper care is often lacking. The Clinicas have reduced patients’ annual costs by 70% and lowered diabetes complication rates by 60%, addressing a critical socioeconomic issue with an innovative healthcare model. Since joining the Endeavor network at the 50th ISP in 2013, the entrepreneurs have been active in sessions with Endeavor mentors, developing a strategy to improve and expand upon their business model.

Patrick left the corporate sector after almost a decade in order to start Fairtrasa, a fair trade and organic produce company based in Michoacan, Mexico. Fairtrasa works with hundreds of small farmers in Mexico and other emerging economies in Latin America to produce and distribute high-quality organic and fair trade fruits, wine, and spices in international markets at reasonable prices. The social enterprise aims to help small farmers out of poverty while opening the global market to local goods, equipping its network with financial capital, training programs and technical support. Since his selection at the 39th ISP in 2011, Patrick has received custom advisory from Endeavor’s Venture Corps network while also regularly participating in leadership and fundraising events.

Other Endeavor Entrepreneurs who have been honored by the Foundation in past years include Mois Cherem of Mexico’s ENOVA, Felipe Vergara of Colombia’s Lumni, and Bedriye Hülya of Turkey’s B-Fit. View the full list of 2014 Awardees by clicking here.

Watch the Awards ceremony at the World Economic Forum on Latin America (April 1st – 3rd) in Panama City:

Colombia's Bodytech Plans Expansion in Latin America, Profiled in El Espectador

bodytechColombia-based Bodytech, founded by Endeavor Entrepreneurs Nicolas Loaiza Galeano and Gigliola Aycardi Batista, recently announced plans for expansion in five Latin American countries as the business prepares to become a publicly listed company. Bodytech’s steady success led to a recent profile in El Espectador, a leading national Colombian newspaper, which highlighted the brand’s recent growth and acquisitions.

Now with 58 Colombian locations spanning major metropolitan areas including Bogota, Medellin and Cartagena, Bodytech also maintains 39 locations in Chile and 10 in Peru and is looking to enter Ecuador, Costa Rica and Panama by 2015. Projecting to grow to over 200,000 members and 150 fitness centers in the next few years, the company has also set its sights on revenue goals of $150 million as it builds upon its membership and expands the 3,500 jobs it has created since 1997.

With access to the right resources, Nicolas and Gigliola are a testament to the high-impact potential of emerging market entrepreneurs and have been active members of the Endeavor network since their selection in 2007. The team has received expert advice and support from Endeavor’s eMBA, G-Lab and ECLA programs, with specific guidance given on the strategic planning and execution of the brand’s fitness training institutions. In addition, the entrepreneurs have attended Endeavor Summits and received local-level access to mentoring and networking opportunities. In fulfillment of Endeavor’s model, Nicolas and Gigliola have also become mentors, panelists and active recommenders for future generations of potential Endeavor Entrepreneurs.

Read more about Bodytech’s news in El Espectador and El Colombiano.

Endeavor Greece Research Spotlights Local Entrepreneurship Scene; Featured in The New York Times and BloombergTV

endeavor-greece-logo-454280Endeavor Greece recently released findings in an infographic highlighting  the nation’s burgeoning entrepreneurship scene, the rise in local startups, and the influx of both domestic and foreign investment capital. With ventures in the ICT sector dominating, Greece is steadily making waves in the tech and innovation space as entrepreneurs lead the way for the region’s economic recovery. Between 2012 and 2013, the number of startups in the country more than doubled according to Endeavor Greece’s research, which was also mentioned in a recent New York Times article profiling the nation’s expanding ecosystem. In addition, Managing Director of Endeavor Greece Haris Makryniotis talked with BloombergTV about the nation’s “startup movement” and the potential for local entrepreneurs to become high-impact job creators, citing  the research and his own experiences with Endeavor’s Entrepreneurs.  View the full interview below or by clicking here.

When it was announced in  late 2012, the launch of Endeavor Greece made headlines in the midst of the country’s political and economic turmoil. Endeavor, however, saw a prime opportunity to bring its model to a struggling region and support high-impact, high-growth entrepreneurs that could create jobs and transform industries. Watch Linda Rottenberg discuss the the decision to enter Greece in this 2012 CNBC interview.


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Lebanon's Diwanee Media Announces Majority Acquisition by French Publishing Company Webedia

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Diwanee, founded by Endeavor Entrepreneurs Herve Cuviliez and Delphine Edde, recently announced a majority acquisition by the Paris-based digital media publishing company Webedia, which also injected $5 million in expansion capital into the company. Cited as one of the region’s largest digital media investments to date, the news not only demonstrates the impact that Endeavor’s entrepreneurs are having on their local economies, but also a rising interest in the Middle East’s entrepreneurship ecosystem.

With a predominantly female readership, Diwanee creates and distributes content through its unique offering of Arabic-language websites focused on beauty, fashion, health, entertainment, retail and social media. Founded in 2008 with employees across three countries, the company’s five current web properties – each focused on a different vertical – garners over five million unique visitors per month. With its sights set on the increasingly global landscape of lifestyle products, fashion and internet retail, Diwanee has carved out a niche but growing market in the Middle East, working with a number of its brands and sponsors to create custom content and craft engaging digital and web strategies. Diwanee’s new owner Webedia, which carries similar lifestyle-focused properties in its portfolio, has 40 million unique global users and  established presences in France, Brazil, Turkey, Germany and Spain. The  investment signifies a move for the French company to enter the Middle East while also helping Diwanee’s team develop their current offerings and explore new verticals. 

“Diwanee was at a point where we could do more on the technology side and data side, but it didn’t make financial sense to do it on our own,” said Herve in a statement. “We were very interested in doing this as part of a much larger group. It was a great synergy [with Webedia], and it’s very exciting.”

Since their selection as Endeavor Entrepreneurs at the 46th ISP in Miami in 2012, Herve and Delphine have been active members of the Endeavor network, including participation in the 2013 Endeavor Entrepreneur Summit and Endeavor Investor Network events. Read  the press release of the announcement by clicking here, and see coverage of the news in Wamda and Campaign Magazine.

Endeavor Staff Featured at the 2014 Global Entrepreneurship Congress in Moscow

GEC2014The 2014 Global Entrepreneurship Congress  took place in Moscow, Russia this year from March 17th – 20th, convening industry leaders, top entrepreneurs and policymakers in an annual event that promotes ecosystems of entrepreneurship and innovation worldwide. The main planning event for Global Entrepreneurship Week, an Endeavor partner, this year’s GEC was also co-hosted by the Moscow City Government and the Kauffman Foundation. Eleven members of Endeavor’s global staff attended this year representing offices in Argentina, Brazil, Chile, Colombia, Mexico, Turkey, Uruguay, and the U.S.

With over 7,000 participants from more than 150 countries, the four day conference highlighted themes ranging from ecosystem development to startup financing, featuring an agenda of over 80 events taking the form of interactive workshops, keynotes and speaker sessions. Notable speakers this year included Peter Vesterbacka, CMO of Rovio Entertainment, Kathleen D. Kennedy, Chief Strategy Officer of MIT Technology Review, Boris Titov, Russian Federation Presidential Commissioner for Entrepreneurs’ Rights, Karim Rashid,  industrial designer and architect, and Ingrid Vanderveldt, Entrepreneur-in-Residence at Dell.

From the Endeavor network, five staff members had the opportunity to speak at this year’s events, demonstrating the organization’s growing role in the global entrepreneurship landscape. Below are highlights of Endeavor’s participation this year.

Endeavor Insight Director Rhett Morris spoke on a panel focused on “Moving Towards Evidence-Based Policy-Making”, which highlighted the disparity between entrepreneurship policy and the actual needs of entrepreneurs and small business owners. During the panel, Rhett pointed to a recent Endeavor Insight report on Miami’s entrepreneurship ecosystem, which revealed that what entrepreneurs viewed as their biggest challenges differed from the views of policymakers, reinforcing the need for local leaders to craft programming and agendas based on more research and direct feedback from entrepreneurs. In addition, Rhett moderated a panel on “Mapping Entrepreneurship Ecosystems”, which highlighted an emerging field of data visualization that focuses on trends in entrepreneurship and seeks to better identify and understand global ecosystems. In particular, the panel discussed the need for organizations to share research and data and involve entrepreneurial communities in the process of mapping, which has the potential to reveal significant patterns and insights to business leaders, policymakers and the general public.

Endeavor Global’s Marissa Carberry, a Manager on the Marketing & Communications team, participated in a “Social Media 101″ panel session tailored to GEW Lead Hosts, with the goal of identifying best practices for managing social media campaigns and maximizing engagement during GEW. Marissa and Endeavor Turkey‘s Senior  Marketing Associate Alev Ertem discussed a joint Endeavor social media campaign entitled #EndvrTale conducted during GEW 2013, highlighting Endeavor Entrepreneurs and taking advantage of the week-long social conversation occurring around global entrepreneurship. Read more about Endeavor’s efforts during GEW 2013, including highlights from Twitter, by clicking here. Alev also made note of Endeavor Turkey’s partnership with Endeavor Entrepreneur company Youthholding, founded by Aslı Caner and Emrah Kayawhich has helped the office improve its digital and social presence across multiple channels with a particular focus on engaging younger generations of entrepreneurs in the region.

Managing Director of Endeavor Argentina Gabriela Macagni participated in a session of presentations entitled “Pitches and New Ideas”, which allowed various organizations to present innovative developments in their programming or events. Gabriela introduced the Startup Camp Latin America program, a series of digital events hosted by Argentina during GEW 2013 that convened over 4,000 Latin American entrepreneurs online for educational and support programming focused on startups. Finally, Pamella Goncalves from Endeavor Brazil‘s Entrepreneur Services team spoke on a panel session focused on “Metrics, Impact & Funding”, detailing methods for measuring and gauging the impact of entrepreneurship-focused organizations.

Endeavor has a been an active supporter of the GEC since it launched in 2009, even co-hosting the 2013 GEC in Rio de Janeiro which also featured many members of the Endeavor network, including staff, mentors and entrepreneurs. To learn more about this year’s conference, including summaries of the events and video highlights, click here.

Endeavor Insight Report on What Entrepreneurs Want in a City Featured in Inc. Magazine and The Atlantic

Inc-Magazine-LogoA report by Endeavor Insight released in February examines the top qualities that American entrepreneurs look for when choosing a city to live and work. With research based on surveys and interviews with 150 founders of some of the fastest growing companies in the U.S., the report offers some important takeaways for policymakers and continues to receive media coverage in notable outlets like The Atlantic, The Atlantic Cities and Inc. Magazine.

James Fallows cited the report in an article for The Atlantic, arguing that national policy – including tax rates and regulatory breaks – usually has little to do with where businesses and populations eventually settle and grow. Rather, the quality of life and attractiveness of a locale takes priority for most high-impact entrepreneurs, as Endeavor’s research reveals. Similarly, Richard Florida highlighted the report’s key findings in a piece for The Atlantic Cities, noting the importance of factors like talent and customer access, quality of life and urban infrastructure to entrepreneurs’ decisions. Picking up on Florida’s observations, Inc. Magazine’s Ilan Mochari spotlighted the research and the importance of looking beyond the “startup” phase at the crucial point of “scaleup”, when small enterprises  have the largest potential for high-impact growth – the key focus of the Endeavor model.

To read the full articles from each publication, click the links above. To view the full Endeavor Insight report click here, and also see an infographic summary of the findings below.

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GigaOm Structure Data Session with Endeavor Entrepreneur Spotlights Big Data in Africa

gigaomReprinted from GigaOm. Read the original article by Kevin Fitchard by  clicking hereThanks to GigaOm, Endeavor Egypt and Endeavor eMERGE California. In this session, Egyptian Endeavor Entrepreneur Amr Shady spoke with Endeavor VP of Business & Network Development Shaun Young about big data, mobile and opportunities in emerging African markets. This article includes a video of the full session, which can also be viewed by clicking here.

“There’s plenty of consumer data that can be mined in Africa, but it just happens to be controlled by the mobile operators. TA Telecom CEO Amr Shady explains how startups can put that data to use.

Is there a big data opportunity in Africa? TA Telecom CEO and founder Amr Shady believes there’s a big one. Only 15 percent of Africans may have access to the internet on a PC, but there is a wealth of information to be mined from the mobile operators who effectively have a lock on data services on the continent, Shady said speaking at GigaOm’s Structure Data conference on Wednesday.

“To talk about big data in Africa we have to look at where the data is being is being created,” Shady said. 60 percent of internet traffic comes from mobile phones. Only a third of mobile users who generate that traffic have a mobile data connection. The rest are using basic voice and SMS services, he said.

If you sampled data from social media to try to understand consumer behavior or public opinion in Africa, you’ll most likely reach incorrect conclusions, Shady said. But by analyzing patterns in how consumers use mobile services, TA Telecom is able to glean much more accurate data about them. It in turn parses that data to target advertising and subscription content at specific consumer segments at the behest of its carrier customers.

Shady, however, said there are many more opportunities to put that carrier data to work. TA Telecom has invested in a startup that uses cell tower location data to measure vehicle traffic conditions on Africa’s roads, he said. Also, Shady believes that because of their close relationship to consumer data, mobile carriers will be the incubators for future entrepreneurs in Africa. Instead of the Microsoft or Apple Mafia, we’ll see a Safaricom or a Vodacom Mafia create the next generation of data startups.”

Endeavor Entrepreneurs to Speak at UC Berkeley's Latin American Business Conference

labhaUniversity of California, Berkeley’s 5th Annual Latin American and Hispanic Business Association Conference will take place on April 4th and convene top business leaders, academics and entrepreneurs interested in the growth and development of business in Latin America. The 2014 event will feature a keynote from Endeavor VP of Global Network Allen Taylor and presentations from Endeavor Chile Entrepreneurs Daniel Undurraga of Seahorse and Clandescuento and Esteban Sosnik of Atakama Labs. 

Hosted by the LAHBA, a student-run organization under the Haas School of Business, the full-day conference has become a top university event for business and political leaders interested in sharing their experiences and insights on current trends and future opportunities in Latin America. This year’s conference theme, “Scaling Up Innovation”, will be highlighted by panels focused on high-impact entrepreneurship, technology and corporate innovation and feature speakers from global brands like Sony, GE, Skype and eBay.

View the full conference agenda by clicking here.

Wences Casares, Endeavor Entrepreneur and Global Board Member, Announces New Xapo Venture

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Serial entrepreneur and investor Wences Casares, whose success story has been a testament to Endeavor’s model, recently announced the launch of Xapo, an online wallet and vault application for Bitcoin currency. One of the first entrepreneurs selected by Endeavor, Wences has been involved in a number of successful startup ventures, including Patagon.com, MECK, and Wanako Games, transitioning to serve as a top mentor and angel investor for the Endeavor network.

Capitalizing on the headline-making rise of Bitcoin, a digital currency and payment network introduced in 2009, Xapo is positioned as the the industry’s first company to offer online and offline Bitcoin security with a cold storage vault and virtual wallet protected by proprietary security measures. Xapo’s team is composed of financial and security experts with experience in building financial products and, by offering a wallet and a vault function in one place, the company is streamlining the exchange and savings process for all users.

“When I first learned about Bitcoin in 2009, I immediately saw the promise and utility of the currency and platform,” Wences said in a statement about Xapo. “I believe that a digital currency like Bitcoin could solve the disjointed nature of our world economy, but to do so, it must address two key themes: trust and accessibility.”

The product has already raised $20 million in Series A funding from key partners. This news comes on the heels of the acquisition of Lemon Wallet, Wences’ most recent financial products venture, which was acquired by LifeLock last December in a deal worth $50 million.

Read more about the Xapo launch in Bloomberg News, Wall Street Journal, Re/code and Fortune Magazine.

Endeavor and Lebanon Entrepreneur Company Beesline Profiled in Executive Magazine

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Executive Magazine, a Lebanon-based business news publication, recently featured Endeavor Entrepreneur company Beesline, founded by Maha Arayssi Rifai and Mohamad Arayssi, in a profile on the company’s business model and the impact of joining Endeavor’s network. Selected at the 51st International Selection Panel in Dubai, Beesline develops natural and effective skincare and beauty products derived from bee by-products, building a brand that is now sold at thousands of retail outlets throughout the Middle East region.

The article highlights the steady success of the company, growing from a small family venture in 1993 to a high-impact consumer products brand catering to an international market. Combining their professional backgrounds in pharmacology and chemistry, the founding team of siblings derived many of their product lines from research conducted into organic and sustainable compounds. In two decades, the business has now grown to 180 employees with revenues in the millions, demonstrating the opportunities for scale-up growth and investment in the region.

Since joining the Endeavor network in 2013, Beesline has received strategic guidance on their products and business strategy from local advisory board members and mentors. One recommendation was for the company to focus more on their lines of halal-friendly products in order to drive expansion to other Muslim countries in the region where the market is still niche. In addition, experts at a local Endeavor panel suggested that the company focus more efforts on marketing as well as talent development, areas that the founders are now working on enhancing as they eye plans for future expansion.

Read the full profile in Executive Magazine by clicking here.

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Founders of Beesline at the 51st International Selection Panel in Dubai

Endeavor Entrepreneurs and Mentors Participate in the 2014 SXSW Interactive Festival

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Endeavor Entrepreneurs, Mentors and staff attended five days of networking and mentoring sessions in Austin, TX as part of the 2014 SXSW Interactive festival, a premiere event focused on innovation and cutting-edge technology. In its 21st year, the festival has become a leading incubator of entrepreneurship and creativity, featuring panels, presentations and showcases from top brands, startups and industry leaders. Many members of the Endeavor network have participated in the festival in past years.

Endeavor Entrepreneurs from the Middle East and Latin America were in attendance this year, including Ala’ Alsallal of Jamalon, Selçuk Atlı of Boostable and SocialWire, Manolo Diaz of Yogome, Guibert Englebienne of Globant, Martin Frascaroli of Aivo, Hassan Hamdan of OTS, Tomás Pollak   and Diego Morales of Prey, Mariano Suárez Battán of Mural.ly, Zafer Younis of Modern Media and Eli Habib of Anghami. Many participated in formal and informal networking and mentoring sessions where they had the opportunity to promote their brands and knowledge-share with industry professionals. Endeavor Mentors in attendance included Joi Ito from the MIT Media Lab, Aasil Ahmad of Discourse Analytics, Pablo Salazar Rojo of Naranya Ventures, Jason Costa of Pinterest and Mike Abbott of KPCB, many of whom also spoke on panels throughout the week. In addition, Endeavor Entrepreneurs and Mentors were given access to the Kauffman Fellows VIP Lounge, a common meeting space sponsored by the Kauffman Foundation, and registrations to the annual Hometown Hangover Cure party, sponsored by Austin Ventures.

View the full Endeavor SXSW event agenda for 2014 by clicking here.

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Entrepreneurs gathering for the first day of the festival

MIT's Latin American Conference Features Members of the Endeavor Network

MITLatAmConfTop members of the Endeavor network recently participated in the Massachusetts Institute of Technology’s (MIT) Latin American Conference, an annual event organized by Sloan School of Management students to promote international development and awareness of the region’s business and investment opportunities. This year’s conference included panel discussions and a Startup Competition that featured Endeavor President Fernando Fabre, Endeavor Entrepreneurs and Board Members Andy Freire and Heberto Taracena, and Miami Board Member Adriana Cisneros.

The one-day event convened over 300 students, business leaders, policymakers, and academics to discuss issues around entrepreneurship, finance, sustainability, and politics as it relates to the region’s growth. This year’s agenda featured panel discussions focused on entrepreneurship success stories, the evolving retail landscape, and business challenges in the region’s markets.

Along with the conference, the 2nd Annual MIT Latin American Startup Competition offered students the chance to compete in teams and develop pitches for their Latin American-focused ventures. Nine teams, representing industries ranging from education to design, participated this year. The team behind Twnel, a B2C mobile messaging app, was named the winner after rounds of deliberations by a judging panel that included Fernando, Andy, Heberto and Adriana.

“It is a great moment to be an entrepreneur in Latin America,” said Antonio Osio, one of the competition’s organizers. “It is nice to see that both Latin American and international students from top MBA programs are increasingly moving away from traditional career paths and launching new startups in the region instead.”

Learn more about the conference by clicking here.

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Judges and participants at the Startup Competition

2013 Endeavor Entrepreneur Summit Video: John Donahoe

This video was filmed during Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 2013).

In this keynote, eBay CEO John Donahoe speaks about the transformation of retail, bridging the online and offline, and the future of commerce. Under his leadership, eBay has become a global commerce platform and payments leader, with revenue in 2012 of $14.1 billion. Across its eBay, PayPal and GSI Commerce platforms, the company enabled $175 billion of commerce in 2012, which represents about 18% of e-commerce worldwide and about 2% of global retail. The company is also a mobile commerce leader, with a mobile commerce volume of $13 billion and a PayPal mobile payments volume of $14 billion in 2012. With eBay focused on enabling commerce as a partner, not a competitor, Donahoe addresses the importance of founders and entrepreneurs in innovating-at-scale and transforming the traditional retail industry.

March 2014 Newsletter

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To view Endeavor’s March newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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Endeavor and the EY Corporate Responsibility Fellows Program Receive Media Coverage Across the U.S.

ey_logo_detail copyEndeavor has worked with corporate partner EY to provide tailored business services to Endeavor Entrepreneurs through the  EY Corporate Responsibility Fellows Program, which recently welcomed back its 2013 class from their time abroad. Through the program, EY dedicates the talents and resources of its employees to working alongside Endeavor Entrepreneurs throughout the Americas.  In 2014, the CR Fellows Program was integrated into the EY Vantage Program, which will provide enhanced services through its new classes of EY Vantage Advisors.

Last year’s Fellows spent seven weeks assisting their entrepreneurs and working with them to identify and address key business challenges, at no cost to the businesses served. In its ninth year, the program’s 2013 class of 15 Fellows returned from their assignments in Brazil, Mexico, Argentina, Chile and Colombia after providing more than 4,400 hours, or more than $500,000, worth of services. Since completing the program, the 2013 class continues to gain media attention for their innovative work with Endeavor’s emerging market entrepreneurs. To learn more, read EY’s full press release by clicking here.

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Members of the 2013 Class of EY CR Fellows

AccountingWeb, a website that provides accounting industry news, and the Pittsburgh Post-Gazzette  highlighted  the work of Fellow Elise Saur during her seven-week fellowship in Brazil with Endeavor Entrepreneur company Tecverde, founded by entrepreneurs Caio BonattoBeto Justus and Lucas Maceno.  Saur  leveraged her expertise to advise on the specific business needs of Tecverde, which offers eco-friendly building and construction solutions, while also gaining experience across an international market.

“EY offers an opportunity to help entrepreneurs at the most important time in their growth and I really wanted to be a part of that,” Saur said on her decision to join the program. Read the full AccountingWeb  article by clicking here and the Pittsburgh Post-Gazzette feature by clicking here. Elise’s story was also covered by CPA Practice Advisor, Lakeland, FL’s The Ledger and Knoxville, TN’s News Sentinel.

Accounting Today another accounting industry news site,  featured EY Senior Manager Karen Correa’s work as a Fellow with Mexico-based Endeavor Entrepreneur company Gruindag, founded by Armando Tortoledo and Pedro Zarur Ménez. In the article, Correa applauds Endeavor and EY’s partnership for allowing entrepreneurs the opportunity to access professional services free-of-charge while also providing Fellows with the chance to gain hands-on field experience. With Gruindag in particular, a chemical products company, Correa helped to create a system for tracking growth while also helping to streamline its strategic business approach. 

“As I look back at the program, I realize that I had a very limited understanding of the impact of the entrepreneurial community on the economies and growth of emerging countries,” Correa reflects. “The entrepreneurs work with tremendous integrity and passion, fueled by love for what they do, their people and their country.” Read the full post on Accounting Today by clicking here.

Culver City, CA’s local news outlet, the Culver City Newsprofiled the work of Fellow and local resident Priyanka Garg while also highlighting the over 30,000 hours donated by Fellows to entrepreneurs in the Endeavor network since 2005. Garg, an advisory manager at EY, worked with Chile-based Endeavor Entrepreneur company Inzpiral, founded by Pablo Godoyto develop a sales strategy and define a value proposition for the growing software business.

In reference to Endeavor and EY’s corporate partnership, Endeavor CEO Linda Rottenberg said: “Together, EY and Endeavor help unleash the tremendous social and economic value of high-impact entrepreneurs, particularly in creating jobs and generating significant revenues.”

Endeavor Malaysia Marks Milestones with First Entrepreneur Selection and Global Grant

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Endeavor Malaysia, officially launched in October of 2013, recently achieved a few milestones as Endeavor’s second country office in Southeast Asia, illustrating the organization’s rapidly growing presence in the region. Highlights include the selection of Malaysia’s first entrepreneur into the Endeavor network, a grant from the JPMorgan Chase Foundation to support global and local development effortsand news of the sale of Board Member Mark Chang’s JobStreet.com.

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As the country’s first Endeavor Entrepreneur, Hakim Karim, founder of GridMarkets, was among 16 high-impact entrepreneurs selected at the 52nd International Selection Panel in Jakarta. Launched in 2013, GridMarkets is a B2B exchange that allows companies with large in-house data centers to recover costs from servers that sit idle during off-peak periods by “renting” them out to other businesses. As an alternative to the traditional data marketplace, GridMarkets aims to help clients eliminate waste and maximize efficiency by allowing them to buy and sell server capacity on an as-needed basis. With the demand for data storage skyrocketing worldwide, GridMarkets’ model presents an innovative exchange solution for clients while also spotlighting the region’s emerging tech industry.

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A recent grant for Endeavor Global from the JPMorgan Chase Foundation will help accelerate the impact of Endeavor in Malaysia, focusing the efforts of both the global and local offices in screening and selecting top candidate entrepreneurs. With this support, global staff will be able to maximize their work with Malaysia’s team to continue expanding Endeavor’s presence in the region. In addition, there will be an effort to recruit more local mentors into the VentureCorps network – a critical component of the Endeavor model.

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Further highlighting the growing entrepreneurial culture in Malaysia, local Board Member Mark Chang recently announced the acquisition of his company JobStreet.com, the largest online employment site in the region, for $524 million by the Australia-based Seek.com. One of the largest Internet deals in the region, the acquisition demonstrates a mounting interest among global corporations to claim a stake in Asia’s emerging markets. Read full coverage of the acquisition news in the Wall Street Journal by clicking here.

Entrepreneurship Ecosystem Insights Newsletter – March 2014

The March 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking here. Visit the website here to learn more and subscribe.

Colombia's Refinancia Announces Majority Acquisition By Encore Capital; Plans Expansion in Latin America

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Refinancia, founded by Endeavor Entrepreneur and Colombian Board Member Kenneth Mendiwelson, recently announced news that the California-based Encore Capital Group has purchased a 51% stake in the company. An entrepreneur success story in Colombia, Refinancia’s announcement demonstrates the growing interest in emerging Latin American markets and the role of entrepreneurs in attracting global investments to the region. Refinancia, a specialty loan servicer that provides alternatives to consumers in need of specialized credit solutions, has supported over a million clients facing issues of financial re-entry and credit access.

An international, publicly-traded specialty finance company, Encore Capital has operations spanning seven countries working to provide debt recovery solutions for consumers and property owners across a broad range of assets. With the purchase of a stake in Refinancia, the Group is looking to consolidate its operations in Latin America while also expanding its reach into the region’s growing economies. Refinancia will gain the analytic and operational expertise of Encore as it continues to maintain its customer focus and strengthen its range of financial services.

Since his selection as an entrepreneur in 2008, Kenneth has been a testament to Endeavor’s model, scaling Refinancia into a multi-national company and multiplying his impact by becoming a board member and mentor for future generations of Endeavor Entrepreneurs. He has also been active in recommending entrepreneurs into the search-and-selection pipeline, serving as a panelist at ISPs, and working with MBA students through the eMBA Program.

Read the full press release of the news by clicking here.

Members of the Endeavor Network to Participate in GigaOM's Structure Data 2014 Event

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From March 19-20th in New York City, GigaOM, a top technology-focused media outlet, will convene 900+ big data practitioners, technologists and executives at its Structure Data 2014 event. This year’s event will include  a session on “Analytics Without Limits” moderated by Endeavor Global Board Member Nick Beim. Egyptian Endeavor Entrepreneur Amr Shady of TA Telecom will be interviewed by Endeavor’s Director of Network & Business Development Shaun Young on big data’s growing role in the African market. In addition, GigaOM CEO Paul Walborsky, an active Endeavor Mentor, will be opening and closing the conference.

A prominent annual industry event, Structure Data provides participants with a forum to  examine how big data can drive business development and success. Experts from tech, healthcare, media and financial services and more will gather to discuss how the world’s biggest and most innovative companies are using data to make better products, build bigger profits and change the world. Speakers this year represent top brands like LinkedIn, Uber, Airbnb, Ford, Guess and Amazon, and include Dennis Crowlery (Foursquare), Ari Gesher (Palantir Technologies) and Julie Brill (FTC).

Register here today to claim discounted tickets through Endeavor.

Argentina's Belatrix Software Partners with Silicon Valley-Based kernel; Highlights Endeavor's Multiplier Effect

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Endeavor Entrepreneur company Belatrix Software, founded by entrepreneurs Alex, Luis and Federico Robbio, was recently named a Co-Innovation Partner for kernel, a Silicon Valley-based software venture co-founded by Endeavor Mentor Avikk Ghose. This unique partnership is a testament to Endeavor’s model, both in terms of the mentor-entrepreneur connections that were formed and the “Multiplier Effect” of inspiring collaboration among members of the Endeavor network.

When it was first released in February 2013, Avikk’s kernel – a mobile web application that improves communications processes for companies – engaged the Endeavor network by enlisting the help of entrepreneurs Wilter du Toit and Antonio Carlos Soares for beta testing. Shortly after, Avikk was introduced to Alex, Luis and Federico at the 48th Endeavor ISP in Buenos Aires,  where the then-candidates quickly stood out with their expertise in software development and product architecture.

After the Belatrix founders were selected as Endeavor Entrepreneurs, Avikk saw an exciting opportunity to work with the company, which helps clients turn product concepts into high-quality releasable software, and accelerate the development of kernel’s offerings. With the support of Belatrix’s expert team, kernel was able to act on the feedback provided during the beta testing phase.

“We were seeking a software innovation firm which could supplement our front-end development efforts,” Avikk said of the partnership. “Once we met Alex, Luis and the Belatrix team, we knew immediately we had found the right partner. With Belatrix, we can design and develop kernel faster.”

“Belatrix has a fast paced, idea-sharing culture,” echoed Alex. “At times, the sheer magnitude of information can feel like drinking from a fire hydrant. We saw immediate value in kernel’s approach of delivering communications with a high signal-to-noise ratio. Our executive team now uses kernel to access information and insights, so we can make better decisions and faster progress.”

As a result of the partnership, kernel released a subsequent version of its application in November 2013, ahead of schedule, and now operates with customers in Argentina, Egypt, Jordan, Mexico and South Africa, including Endeavor Entrepreneurs Gabriel Manjarrez of MiMoni and  Amr Shady of TA Telecom.

“The spirit of Endeavor is one of fostering relationships that can positively impact our entrepreneurs and mentors, and this is a great example,” said Bianca Martelli, Endeavor VP of Latin America and Southern Europe.

Learn more about the news on Belatrix’s Software Blog by clicking here.

Miami's KidoZen and My Ceviche Profiled in The Miami Herald; Discuss Plans for Growth

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Endeavor Entrepreneur companies KidoZen, founded by Jesus Rodriguez, and My Ceviche, founded by Roger Duarte and Sam Gorenstein, were recently featured in The Miami Herald’s Business Monday section, highlighting the growing presence of both companies in the region and the impact of being named Endeavor Entrepreneurs. As the first companies from Miami to join the Endeavor network at the 51st International Selection Panel in Dubai, these founders are transforming their local industries and demonstrating potential for high-impact growth.

KidozenKidoZen, an enterprise mobile platform that provides a secure and scalable software solution for companies, has witnessed stunning success in just the past year – the company opened its service to the public in 2013 and has already served 80 clients globally. The biggest challenge for the company now, as explained by the Herald, is keeping up with the rapid growth both in terms of acquiring talent and expanding its software offerings.

“Building the team that matches the culture of the company is our main task for the next six months,” Jesus said in the article. “We’re very committed to building in Miami so we are committed to finding talent in Miami, but we have a very high bar for talent, so it is taking time.” Read the full Miami Herald feature on KidoZen by clicking here.

My Ceviche

My Ceviche, a chain of fast-food restaurants looking to bring traditional Latin cuisine to the masses,  already has over 30 employees and is expecting to open two additional Miami-area locations within the year. With a unique offering and business model, Roger and Sam have set their sights on national expansion and on growing a line of food and beverage products, all the while maintaining a fresh approach to their ceviche staple.

“We’re both hungry and we both know there is a lot to learn and we listen,” Roger told the Herald. “We believe in Endeavor and how they can help take a business at a certain inflection point to a $100 million business.” Read the full Miami Herald feature on My Ceviche by clicking here.

Baydöner Honored with EY Entrepreneur of the Year Award in Turkey

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Fast-food kebab chain Baydönerfounded by Endeavor Entrepreneurs Levent Yılmaz and Feridun Tunçerwas recently named EY’s Entrepreneur of the Year (EoY) in Turkey, recognizing the company’s innovative business model and impact on the region’s economy.

EY, an Endeavor global partner, has been hosting the EoY Program for over two decades, expanding it to more than 50 countries with awards presented annually to over 900 of the world’s most successful and innovative entrepreneurs. In Turkey, the awards are currently in its ninth year and brought together five high-impact companies in the final round of judging for 2014.  With the support of the Hürriyet Daily News, CNN Türk and Endeavor Turkey,  the event convened some of the country’s leading businessmen and women, including Endeavor Board Member and Hürriyet Chairwoman Vuslat Doğan Sabancı who served as part of the jury panel. After earning the local EoY honor, Baydöner will represent Turkey at the EY World Entrepreneur of the Year Awards taking place in June 2014 in Monte Carlo, Monaco where over 60 entrepreneurs will vie for this year’s global title.

Baydöner, which operates its chain of restaurants in more than 30 Turkish cities, has been an active member of the Endeavor network since their selection in 2012, including participation in branding workshops and tailored mentorship sessions. The entrepreneurs’ success  also led them to be profiled in the 2013 Endeavor Impact Report, which can be viewed here.

Read full coverage of the awards ceremony in the Hürriyet Daily News by clicking here.

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Baydoner founders and Endeavor Entrepreneurs Levent Yılmaz and Feridun Tunçer

16 High-Impact Entrepreneurs from 7 Countries Join the Endeavor Network

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Jakarta, Indonesia- February 21, 2014 – Endeavor selected 16 high-impact entrepreneurs leading 11 companies in Egypt, Indonesia, Lebanon, Malaysia, Mexico, Saudi Arabia, and the UAE at its 52nd International Selection Panel.

Endeavor now supports 888 High-Impact Entrepreneurs from 569 companies in 19 countries. The entrepreneurs were chosen at a panel held from February 19 – 21 in Jakarta.

The International Selection Panel (ISP) is the culmination of a rigorous multi-step selection process. At the Jakarta ISP, business leaders from nine countries interviewed candidates about their businesses and high-impact potential, and then voted on whether or not candidates should become Endeavor Entrepreneurs.

“I want to welcome all of the new Endeavor Entrepreneurs to our network,” said Endeavor co-founder and CEO Linda Rottenberg. “I particularly want to congratulate our affiliates in Southeast Asia. Endeavor Indonesia organized and hosted this flawless ISP – the first to be held in Southeast Asia – and Endeavor Malaysia successfully selected its first entrepreneur.”

Post-selection, Endeavor provides entrepreneurs with customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. Endeavor Entrepreneurs have had a significant track record of creating thousands of jobs and building sustainable growth models in their home countries.

Endeavor will host four additional International Selection Panels in 2014. Locations will be Florianopolis, Brazil; New York, NY; Istanbul, Turkey and Miami, FL.

Brief descriptions of the selected entrepreneurs and companies follow.

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Members of the Endeavor network during an ISP dinner

EGYPT

Entrepreneurs: Mohamed Abdel Moneem Mostafa Abdel Moneem

Company: Al Sagheer Group (www.mohamedalsagheer.com)

Description: Al Sagheer Group operates 19 beauty services centers in Egypt, two in Dubai, UAE and one in Doha, Qatar. The centers provide an expansive offering of services, including hair, beauty, and spa treatments for men, women, and children of all ages. Al Sagheer Group also imports beauty products from premium brands like Guarani, Chanel, and Dior. The company sells directly to customers in its high-end, in-salon boutiques and also distributes them to other salons, pharmacies, and specialty boutiques in Egypt.

INDONESIA

Entrepreneur: Arief Widhiyasa

Company: Agate Studio (www.agatestudio.com)

Description: With over 120 developed games and partnerships with premier Japanese studios, Agate Studio is one of Indonesia’s leading game development studios. Agate Studio creates a wide array of B2C games available on mobile apps and online, including the popular and award-winning Football Saga 2. Agate Studio also creates advertising and learning games for companies seeking innovative methods to market themselves and provides instruction in a fun, unique way.

Entrepreneur: Grace Judio-Kahl

Company: Shape Up Indonesia (www.shape-indonesia.com)

Description: As the first medically-supervised health care service focusing on obesity and weight loss in Indonesia, Shape Up is helping countless women and men through treatments combining medical, psychological, and cosmetic therapies. The clinics offer patients a comprehensive selection of drug regimens, quick fat-reduction treatments, group therapy programs, sessions with personal trainers, and healthy meal plans.

LEBANON

Entrepreneur: Jean-Marc Ingea

Company: Elcir (www.elcir.com)

Description: Elcir manufactures and installs furniture and woodwork for luxury hotels, high-end residential units, and corporate offices. After rebuilding his father’s company following the Lebanese Civil War, CEO Jean-Marc expanded Elcir’s services worldwide, from the Atlantis Resort in the Bahamas to the presidential palace in Turkmenistan.

Entrepreneur: Jamil Corbani

Company: Green Studios (www.greenstudios.net)

Description: Green Studios designs and builds green walls and roofs, and provides its own independent landscape architecture services. Using its proprietary technology, which pumps water through a synthetic “skin” on which the plants grow, Green Studios’ builds walls that require three times less water than competitors. Green Studios has already worked with prominent Lebanese real estate developers and has secured projects in Dubai and Egypt to be completed in 2014.

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Entrepreneurs during the ISP Candidate’s Day

MALAYSIA

Entrepreneur:  Hakim Karim

Company: GridMarkets (www.gridmarkets.com)

Description: Launched in 2013, GridMarkets’ B2B exchange provides firms that use a fraction of their in-house data centers with the ability to recover costs from servers that sit idle during off-peak periods. For firms with variable and project-based needs, GridMarkets offers a flexible and low-cost server solution. Unlike the primary market, which charges for a pre-set amount of capacity regardless of usage, GridMarkets allows its clients to buy and sell server capacity on a “pay-per-use” basis with no minimum commitments.

MEXICO

Entrepreneurs:  Juan Carlos Feregrino & José Antonio Feregrino

Company: Grupo Delicias

Description: Since taking over the reins of their family-owned dairy farm in 2000, Juan Carlos and José Antonio Feregrino have expanded their original product offering from milk and dairy byproducts, using proprietary technology to develop cost-effective, value-added cattle feed to sell to dairy farmers and feed lots. Compared to traditional feed, Grupo Delicias’s alternative solution costs about 12% less and, with up to 100% more protein, provides the nutrition needed for efficient meat and milk production.

Entrepreneurs:  Gonzalo Abascal, Javier Solano & Armando Rasgado

Company: Linko (www.linko.mx)

Description: Linko is an IT consultancy and software developer that improves customer experiences at financial institutions, such as banks and insurance companies. It customizes an array of TIBCO and Pitney Bowes software that allows financial institutions to analyze customer transactions, communicate with customers effectively, and manage their customer service efficiently. Linko also develops its own software, ranging from white-label apps for banks to software platforms, to further enhance the customer experience.

Entrepreneurs: Pablo Pedrejón & Toby Clarence-Smith

Company: Petsy (www.petsy.mx)

Description: In the dog-eat-dog world of Mexican ecommerce, Petsy has become the leading online provider of pet supplies. Launched in June 2013, Petsy offers the widest and best selection of premium food, accessories, and care & maintenance products in Mexico. A fast, convenient, and affordable way to shop, Petsy ensures that pets receive the best care through its wide selection of competitively-priced pet supplies.

SAUDI ARABIA

Entrepreneur: Ebrahim Aljassim

Company: HungerStation (www.hungerstation.com)

Description: HungerStation is the hottest new method for ordering food in Saudi Arabia. Its website and mobile app facilitate online food ordering, tracking and delivery. Those who cannot cook or drive, or do not have the time for either, can select the perfect meal from the countless restaurants available through HungerStation. The company provides access to restaurants without existing delivery services, which has helped expand options for restaurants and customers alike.

UAE

Entrepreneur:  Mona Ataya

Company: Mumzworld (www.mumzworld.com)

Description: Mumzworld is the leading e-commerce retailer in MENA focused exclusively on products for expectant mothers and their babies, infants, and young children. Since its launch in 2011, Mumzworld has developed the largest online inventory available in the Gulf Corporation Council. By offering customers free returns, quick delivery, and a best price guarantee, Mumzworld maintains a high customer satisfaction rate. In addition to its customer facing e-commerce platform, Mumzworld provides businesses with advertising opportunities, discounted corporate sales, targeted sample distribution, and online storefronts for traditional retail stores.

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Global Chairman Edgar Bronfman, Jr. at the ISP’s closing gala

Mexico's Mastretta Cars Opens First Global Dealership; Plans Expansion into the U.S.

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Mastretta  Cars, founded by Endeavor Entrepreneur Carlos Mastretta Guzmánrecently unveiled its flagship global car dealership in Toluca, Mexico on the heels  of an announcement that the company is planning a larger expansion into Mexico and the U.S. The plan includes anticipated openings in the Mexican cities of Monterrey, Guadalajara and Mexico City as part of a marketing strategy that will allow their customer base more direct access to their high-end line of sports vehicles. With growth expected to be in the double digits in 2014, Mastretta is working with the British Racing Group to open its first U.S. dealership in Philadelphia, which will help the company explore additional distribution points in the Americas.

Since its founding in 1987, Mastretta has set out to be one of a few Mexican automotive companies designing and building sports cars domestically. Selected as an entrepreneur in 2010, Carlos has received a number of services from Endeavor, including business and marketing guidance from a local advisory board and investment from Endeavor Catalyst.

Read media coverage of Mastretta’s expansion in national Spanish-language outlets including El Economista, El Financerio  and Vanguardia.

 

Endeavor Insight Report Spotlights Growing Entrepreneurship in Bogotá's Tech Sector

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Bogotá’s tech entrepreneurs have built over 100 companies and created thousands of jobs over the past two decades, according to a recent study by Endeavor Insight. With the support of Endeavor Colombia and the Omidyar Network, the research team interviewed over 200 tech entrepreneurs from more than 230 Bogotá tech companies and found that through inspiring, mentoring, and investing in one another, Bogotá’s tech entrepreneurs have underpinned the sector’s recent success. This study builds on Insight’s work identifying how entrepreneurship ecosystems develop and the central role entrepreneurs play in supporting one another and multiplying their collective impact.

In Bogotá, the study revealed over 300 personal and professional relationships among local tech entrepreneurs. Classified as one of five types – inspiration, mentorship, former employment, investment, or serial entrepreneurship – these connections allow Bogotá’s tech founders to invest their knowledge and resources into the next generation of entrepreneurs. The entrepreneurs featured on the study’s map have at least one connection to another entrepreneur in the broader Bogotá tech network, demonstrating that the city’s entrepreneurs are not only focused on building their own ventures, but also on multiplying their impact by supporting fellow and future generations of entrepreneurs.

As Colombia’s economy continues to emerge, Bogotá’s tech sector will not only drive job and economic growth, but also position the region to compete on a global scale. Alex Torrenegra and Tania Zapata, founders of Bunny Inc. and Endeavor Entrepreneurs, are models of the high-impact entrepreneurship that is integral to the continued growth of the sector and Bogotá’s economy. With over 20 direct connections to other Bogotá tech companies, Alex and Tania have created a platform that younger entrepreneurs have used to launch their own successful ventures. This “Multiplier Effect” is a critical part of Endeavor’s model, and the study demonstrates that a handful of entrepreneurs have the potential to scale-up their businesses, invest in the next generation of entrepreneurs, and transform a sector and the broader economy.

Read coverage of the research in Colombia’s El Espectador and find the full report, including details on all of the key findings and a full visual map of Bogotá’s tech sector, by clicking here for English and here for Spanish.

Endeavor Insight Releases Report Focused on Southeast Asia’s High-Impact Entrepreneurs

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Endeavor Insight, supported by Omidyar Network, released a report studying high-impact entrepreneurs in Southeast Asia. Using data from the World Bank Enterprise Survey, Endeavor Insight looked at more than 4,200 companies and found that in a number of Southeast Asian countries, scaleups are creating the majority of new jobs. The report also revealed that scaleups – companies growing at more than 20% per year over the past three years – represent only 14% of total companies but created 77% of net new jobs.

To understand the dynamics that allow these companies to create jobs and value for their economies, Endeavor Insight also interviewed ten of the top Southeast Asian entrepreneurs both in and outside of the Endeavor network. Coming from companies as diverse as a Filipino cut flower business to an Indonesian payments firm, these entrepreneurs share a common drive to succeed and passion for their business and product offerings. The interviews also revealed a number of recurring challenges among the region’s scaleups, including issues of  talent sourcing and access to customers and markets.

Read the full report, including detailed case studies of each entrepreneur interviewed, by clicking here.

Latin American Venture Capital Fund Kaszek Ventures Raises $135 Million

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Kaszek Ventures, run by Endeavor Entrepreneurs Nicolas Szekasy and Hernán Kazah (co-founders of MercadoLibre along with Marcos Galperin) recently raised $135 million in a second round fund. Despite recent headlines discussing the turbulence in emerging markets, the substantial funding round shows promise for the region’s continual growth and investment opportunities.

The new fund’s investors include firms Horsley Bridge Partners, Sequoia Heritage and Kevin Efrusy, the partner at Accel Partners responsible for its early investment in Facebook. According to coverage in the New York Times, of the 22 companies that Kaszek has invested in, 17 have raised at least one subsequent financing round and 11 of those brought in new investors.

Nicolas, Hernán and Marcos were among the first entrepreneurs to be selected into the Endeavor network in 1999, and have subsequently become one of the Endeavor’s greatest success stories with MercadoLibre. Known as the eBay of Latin America, MercadoLibre was the first company in the Endeavor portfolio to have an IPO in the U.S., opening on the NASDAQ at $400 million in 2007. The entrepreneurs received a number of Endeavor services in their early stages, including placement with the eMBA Program, financial consulting, and connections with eBay, which acquired a stake in the company in 2002. Subsequently, Nicolas,  Hernán and Marcos have fulfilled Endeavor’s model by giving back to the organization, serving on Global Advisory Boards and as panelists and mentors.

Read the full article in New York Times’ Dealbook by clicking here.

 

Endeavor Investor Network Event Highlighted at Kauffman Fellows Global Summit in Sao Paulo

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In January, the Endeavor Investor Network team co-hosted an event in Sao Paulo, Brazil with Brazil Innovators and the Kauffman Fellows Program that convened 40+ high-growth Brazilian companies and 40+ investment firms from the United States, Europe, Mexico and Brazil.  During the two-hour speed networking session – a hallmark of all Investor Network events – participants met with  up to ten companies each, resulting in 350+ formal investor-to-entrepreneur introductions.  Following the formal networking session, participants celebrated with a dinner hosted by the Kauffman Fellows Program.

As part of the larger Kauffman Fellows Global Summit, the investor event brought together 130+ leaders of the worldwide entrepreneurship ecosystem and promoted Brazil as a top market for investment. Throughout the 2014 Summit, Endeavor Entrepreneurs, network members and staff took the stage to discuss topics ranging from venture capital in Brazil to pan-regional companies launching local operations. Endeavor participants included entrepreneur Miguel (Mike) Santos of Technisys, board member Jason GreenEndeavor Catalyst‘s Allen Taylor and Leticia Queiroz of Endeavor Brazil.

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Endeavor VP Allen Taylor at the KFP Global Summit

Endeavor Insight Report Reveals the Top Qualities that Entrepreneurs Look for in a City

endeavor_insightEndeavor Insight, supported by Omidyar Network, recently released a report that addresses the question “What Do the Best Entrepreneurs Want In A City?” With research culled from surveys and interviews with 150 founders of some of the fastest growing companies in the U.S., the report offers some important takeaways for urban leaders. Studies show that entrepreneurs often look to large cities rather than less urban areas to start their ventures and tend to stay put as their firms grow, with a majority of the founders surveyed living in metropolitan regions with populations of over one million. With this in mind, Endeavor Insight set out to explore the key elements of cities that allow them to attract and retain high-impact businesses, and the steps that leaders and policymakers can take to equip their cities for entrepreneurial growth.

The research uncovered a few key lessons on what makes certain cities more attractive than others. While a strong quality of life, talent pool and customer base were the most cited considerations, there was also a surprising lack of mention of business-friendly regulation as a factor. City leaders who dedicate resources to fostering these identifiable characteristics have the highest potential of drawing the types of innovative entrepreneurs, companies and jobs that can transform their local economies.

Read the full report, including more detailed explanations of each lesson and a list of the top keywords mentioned, by clicking here. The report was also featured in the The Atlantic Cities, The Atlantic and the Silicon Valley Business Journal.

February 2014 Newsletter

CaptureTo view Endeavor’s February newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

Turkey's Pozitron Acquired by Monitise Group in $100 Million Deal

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Endeavor Entrepreneur company Pozitron, founded by Fatih Işbecer and Fırat İşbecer, recently announced its acquisition by mobile commerce giant Monitise Group in an all-share deal worth $100 million. A Turkey-based mobile software development company, Pozitron was founded in 2000 with the goal of creating, integrating and securing business solutions through the use of cutting-edge mobile technology. Since its founding, the company’s products have reached millions of customers in the region and include solutions for some of Turkey’s largest banks, airlines, and media companies. The company has also earned recognition for its business model from organizations such as Harvard Business School and  Deloitte,  as well as partnerships with top tech companies like Apple, IBM and Microsoft.

The UK-based Monitise Group, which works with payment partners like Visa to build and roll out mobile solutions, is continuing its global expansion efforts with the Pozitron acquisition following similar deals in the U.S. and African markets. The acquisition signifies a move to expand into the rapidly developing Middle East market, where the number of mobile subscribers is expected to surpass 300 million in 2014. With Turkey often viewed as a gateway into the region, the deal also demonstrates the strength of the country’s startup and scaleup scene, with the Endeavor Turkey affiliate already serving over 60 local entrepreneurs. Fatih Işbecer, Pozitron’s current CEO, will become head of Monitise’s Middle East & Africa business, bringing along COO Fırat İşbecer and the company’s existing 130 employees.

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Pozitron founders with Endeavor Turkey staff and entrepreneurs at the 2011 Endeavor Summit

This announcement demonstrates the impact that Endeavor’s work continues to have on its  entrepreneurs, and the importance of access to mentorship, support and growth opportunities for companies in the critical scaleup stage. Since their selection as Endeavor Entrepreneurs in 2007, Pozitron has been an active member in the network, securing several client contracts with Endeavor’s support and advisory services. In addition to sessions with Endeavor mentors, Fatih and  Fırat have  benefited from the eMBA and G-Lab programsEndeavor Catalyst, and participation in Immersion Tours. The entrepreneurs have also been active in referring future candidates to Endeavor’s selection pipeline

Read the full press release from Pozitron by clicking here and read TechCrunch’s coverage of the announcement by clicking here.

2013 Endeavor Entrepreneur Summit Video: Ali Partovi & Eric Eldon

This video was filmed during Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 2013).

In this fireside chat, TechCrunch Editor Eric Eldon interviews Ali Partovi about his path from serial entrepreneur (iLike, LinkExchange, Code.org) to early-stage investor (Facebook, Dropbox, Zappos and Airbnb) to startup advisor. Hear why sustainable agriculture and food companies like Brightfarms and Farmigo are next on his radar.

Ali Partovi is a Silicon Valley entrepreneur & investor. Ali co-founded LinkExchange (acquired by Microsoft for $265 million), and iLike (the first successful app on the Facebook platform). He was an early investor in Dropbox, Facebook, OPOWER and Zappos. Ali also co-founded Code.org, a non-profit to promote Computer Science education. Ali’s passion and current focus is sustainable food and agriculture.

Eric Eldon is the Co-Editor of TechCrunch. He was previously the Co-Founder and editor of Inside Network, where he managed publications including Inside Facebook, Inside Social Games and Inside Mobile Apps. Before that, he spent a couple of years covering technology and finance at VentureBeat, a leading Silicon Valley publication where he was the first employee. Eric attended Stanford University and graduated with a degree in International Relations in 2005. He reported and edited news for The Stanford Daily student newspaper.

Watch the playlist of excerpts from their discussion:

Entrepreneurship Ecosystem Insights Newsletter – February 2014

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The February 2014 Entrepreneurship Ecosystem Insights newsletter, a collection of the top news and research on global entrepreneurship, can be viewed by clicking hereVisit the website here to learn more and subscribe.

Third Harvard Business School Case Study on Endeavor Details Expansion into Miami

Harvard Business School (HBS), working closely with Endeavor, profiled the organization’s U.S. expansion into Miami in a recent case study that explores Endeavor’s operating model, global strategy, and the rigorous decision process behind the establishment of a new affiliate. This is the third study conducted by HBS examining Endeavor’s work, with the first study (2003) focused on Endeavor’s plans for growth and the second study (2009) exploring the concept of high-impact entrepreneurship. In this latest case, the research led by HBS Professor William Sahlman examines both the economic conditions that made Miami an attractive choice for Endeavor’s first U.S. venture, and the steps Endeavor took to turn the idea into a reality. 

When the idea of Miami was first proposed in 2012, an evaluation of the city’s entrepreneurial ecosystem found that there was already a strong community of talent and a viable infrastructure, demonstrated by one of the highest rates of new business formation among the 15 largest U.S. metropolitan areas. However, since 2000, the number of large businesses in the area declined by more than 20 percent, coinciding with a rapidly rising unemployment rate. It was evident that there was a vibrant start-up scene in Miami, but a lack of consistent access to investment capital and mentorship opportunities prevented many of these small businesses from reaching the critical scaleup stage.

Supporting entrepreneurs at this level, when job creation and economic impact is most tangible, is where Endeavor’s “mentor capitalist” model would prove valuable to Miami and where members of Endeavor’s senior leadership saw a key opportunity to expand the organization’s mission. There were still questions, however, of whether a U.S. expansion would be consistent with Endeavor’s values and capabilities, and whether it was the best choice among so many other potential markets. What followed was careful consideration and debate around issues of funding, opportunity cost and organizational impact, outlined by the study in an examination of how Endeavor is working to foster high-impact entrepreneurship beyond just emerging markets, but in every region where there is a verifiable need.

Since the Miami affiliate was launched in September 2013, entrepreneurs Roger Duarte and Sam Gorenstein of My Ceviche and Jesus Rodriguez of KidoZen have already successfully been selected into the Endeavor network. Visit the HBS faculty & research site to see a list of their latest publications.

Greece's Daily Secret Raises New Round of Venture Funding; Plans Expansion into Africa

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Daily Secret, founded by Endeavor Greece Entrepreneurs Nikos Kakavoulis and Phaedra Chrousos, recently announced that it has raised $1.25 million in a Series B round of venture funding to support the company’s global expansion efforts.

Founded in Athens, Daily Secret is a digital media brand that caters to young urban professionals by providing daily newsletters that share the latest in dining, nightlife, retail and culture tailored to each of the 35 markets it serves. With this new round of funding led by PanAfrican Investment Co., the company is hoping to expand its presence in Africa in major metro areas like Nairobi, Lagos and Accra. Along with these key African cities, Daily Secret also plans to expand in over a dozen other markets within the next year.

As the first entrepreneurs from Greece to join the network in 2012, Daily Secret has been active in many Endeavor services including one-on-one sessions with Endeavor mentors and investors.

Read more about the news in TechCrunch by clicking here.

Endeavor Insight Releases "City Hubs for Entrepreneurship" Report on Miami

endeavor_insightEndeavor Insight, with support from the Knight Foundation, recently released the first publication in its “City Hubs for Entrepreneurship Series”, explaining the results of an analysis on the opportunities and obstacles to Miami’s growing entrepreneurship ecosystem. The analysis was based on data collected from more than 100 early-stage and growth-stage companies, as well as interviews and focus groups with entrepreneurs, investors and policymakers. The report found a clear and demonstrable need for Endeavor’s work in the region where entrepreneurship is quickly on the rise but still facing many critical challenges. As Endeavor’s first U.S. affiliate, the Miami office was established in September 2013 with support from the Knight Foundation and a managing board composed of some of the city’s top investors and business leaders.

In the report, Endeavor found that that the central challenge for local entrepreneurship was that many companies were starting up, but very few were growing to become medium or large firms. A recent report from the Ewing Marion Kauffman Foundation demonstrated that Miami had the highest rate of new business formation among the 15 largest U.S. metropolitan areas in 2012. However, since 2000, the number of large businesses in the area has declined by more than 20 percent. Endeavor’s own research found that the city’s entrepreneurial community reported a variety of strengths to working in Miami, including a high quality of life, vibrant culture, and an accessible customer base. The challenges to scalable growth however, including a lack of expert talent, mentorship and opportunities for capital, are where Endeavor’s work looks to add the most value. The success of the Miami affiliate thus far has led to the selection of its first entrepreneurs, Roger Duarte and Sam Gorenstein of My Ceviche and Jesus Rodriguez of KidoZen, at the 51st International Selection Panel in Dubai.

Read more coverage on the Miami report from the Knight Foundation by clicking here and also in the Miami Herald by clicking here.


 

Endeavor and SAP Partner to Host a 'Design Thinking' Session for Entrepreneurs in Dubai

sapSAP, a global corporate partner of Endeavor, worked closely with Endeavor staff during the 51st International Selection Panel in Dubai to offer candidates the opportunity to brainstorm and share business development strategies in a day-long ‘design thinking’ session.

Led by SAP VP Sameer Areff, the goal of the session was to provide a forum for the entrepreneurs to uncover and address key business challenges by applying a collaborative, user-centered design approach. With the help of a graphic illustrator who transcribed the conversations, advisers from SAP and Endeavor staff worked with the entrepreneurs to identify issues that touched on a range of external and internal challenges, from customer service to  product development. The resulting ‘roadmap’ provided a  case study of issues and approaches for every entrepreneur to relate to their own business model.

“Design thinking is a powerful tool that helps entrepreneurs take a step back from the day-to-day to drill down on a topic or business challenge in a diverse team,” said Nicolette Van Exel, SAP’s Global Director of Corporate Social Responsibility. “SAP uses this internally and with our customers to address critical technology and business questions. By providing this offering to entrepreneurs we hope to help the next generation of business leaders accelerate and innovate.”

Previously, Endeavor worked with SAP to host similar ‘design thinking’ workshops during the 2013 Endeavor Summit, offering an innovative and interactive session to participants. Read more about the Summit event by clicking here.

Watch a recap video of the Dubai session courtesy of SAP:

Endeavor Entrepreneur Fatma Ghaly Featured on Egyptian TV Series "El Mashrou3"

Azza FahmyEndeavor Entrepreneur Fatma Ghaly, managing director of Azza Fahmy Jewellery, was recently featured as a guest judge on the Egyptian reality show El Mashrou3, a series that  spotlights young social entrepreneurs as they compete in team challenges that test and improve their real-world business skills. The goal of the series is to not only raise awareness of the culture of entrepreneurship in Egypt, but also  provoke discussion of important social causes in the region.

In the episode, Fatma judges the contestants after they are challenged to create a home decor piece from recycled products within a small budget. She evaluated the contestants on creativity, pricing, and feasibility, while also giving advice on project planning. Working with Endeavor’s Egypt affiliate, El Mashrou3 has also featured a number of Endeavor mentors as guests.

Since Azza Fahmy’s selection in 2008, Fatma and the company has been active members of the Endeavor network, receiving introductions to designers and potential partners as well as strategic business advice through the G-Lab Program.

Watch the entire episode in Arabic below:

Latin American Entrepreneur Companies Globant, Tecsis and Imagen Dental Profiled in Spain's El Pais

Máster-de-periodismo-de-El-PaisA recent article in Spain’s El Pais featured Endeavor Entrepreneurs Guibert EnglebienneBento Koike, and Ricardo Villarreal as well as Endeavor President Fernando Fabre as they discussed economic growth, innovation and competitiveness in the Latin American region.

The article highlights entrepreneurship in Latin America and the challenges the market faces against a rising Asian economy, particularly in terms of manufacturing and production. Despite studies that claim that innovation in the region is lagging behind its global competitors, companies like Guibert’s Globant, Bento’s Tecsis and Ricardo’s Imagen Dental demonstrate that high-impact businesses are steadily attracting top talent and investing in products that are growing whole sectors of the region’s economy.

Based in Argentina, Globant is one of the fastest growing software product development companies in the country, aiming to provide clients with solutions that are both design-minded, scalable and efficient. The founders’ goal is to put Argentina on the radar of the global marketplace with an offshore IT services alternative, and to continue attracting top clients from around the world. Since Guibert’s selection in 2005, Globant has expanded rapidly and stands as an Endeavor success story, acquiring fellow Endeavor Entrepreneur company OpenWare and participating in programs like Endeavor Catalyst and the EY Vantage Program among other activities.

The Brazil-based Tecsis is a leading energy company specializing in the manufacturing of components for wind turbines and serves as one of the world’s largest producers of turbine blades. As a leading exporter in Brazil, Tecsis has seen rapid growth in the U.S. and Europe, and cites a number of global corporations as clients. Since Tecsis’ selection in 2002, Bento has received ongoing support from Endeavor’s services, including participation in the eMBA Program and G-Lab Program, and has also given back by serving as an Endeavor mentor.

In Mexico, Imagen Dental is transforming dental, vision and hearing care for middle-class Mexicans with specialized and affordable service options. In a country where public healthcare is undergoing much change, founders Ricardo and Patricio seek to provide quality and well-trained professionals who can offer Mexicans basic and necessary services. Since their selection in 2006, the entrepreneurs have participated in Endeavor services like the eMBA Program as well as numerous Immersion Tours and an Endeavor Entrepreneur Summit.

Read the entire El Pais article in Spanish for more views on innovation in Latin America and how the region is competing globally.

Saudi Arabian Entrepreneurs Featured on Forbes List of Inspirational Leaders

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Forbes Middle East, the regional outlet for Forbes business and finance news, recently released a ranking of Saudi Arabia’s top movers and shakers. Four Endeavor Entrepreneurs made the the list of sixty for their work as self-starters who have grown their businesses into  high-impact ventures.

The entrepreneurs who made the list include Naif Alqahtani of LSSLoai Naseem of LomarAbdulmohsin Al-Rabiah of Shawarmer and Amr Al Madani and Saeed Saeed of TalentS. The ranking, officially titled “Leaders Inspiring A Kingdom in the Business World” had the goal of putting together a list of “individuals and visionary self-starters who have the power to initiate change and contribute to the Saudi Arabia of tomorrow.” The Saudi Arabian entrepreneurs named have started ventures in fields ranging from supply chain logistics (LSS) and STEM education (TalentS), to fashion apparel (Lomar) and fast food (Shawarmer). Together, these entrepreneurs and their companies are growing an ecosystem of entrepreneurship that continues to mark the Middle East as a globally competitive economy. 

Launched in 2012, Endeavor Saudi Arabia is one of seven Endeavor affiliates in the MENA region, which includes Egypt, Lebanon, Morocco, Turkey, Jordan and the UAE. Read the full ranking by clicking here.

 

Launch of Endeavor's UAE Affiliate Featured in Emirates 24/7

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Emirates 24/7, a United Arab Emirates’ (UAE) online news outlet, recently profiled the Endeavor affiliate office in Dubai, which was announced in October of 2013.

The official launch of the UAE affiliate was marked by the 51st Endeavor ISP which took place December 10th – 12th, 2013 in Dubai, where the country’s first entrepreneurs, Duplays and PropertyFinder, were selected after a rigorous round of interviews and deliberations with some of the region’s top investors and business leaders. As Endeavor’s seventh affiliate in the Middle East, the organization’s growing presence in the region recognizes the thriving community of entrepreneurs that has made it a key global market.

Noor Shawwa was named Managing Director of the office, and will oversee a team on-the-ground in Dubai. See a list of the founding board members, which includes top local Endeavor Entrepreneurs and investors, by clicking here.

“We’re thrilled to include the UAE as a member of the Endeavor network,” said Endeavor co-founder and CEO Linda Rottenberg.  “This is one of the world’s fastest growing economies and we hope that we can help bring a number of locally based businesses to scale and play a role in fostering entrepreneurship here.”

Read the full Emirates 24/7 feature by clicking here.

El Economista and Forbes Mexico Profile "The 6-30 Report" by Endeavor Insight

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El Economista and Forbes Mexico, two of Mexico’s top finance and business news outlets, recently featured Endeavor Insight’s “The 6-30 Report“, which highlights the contributions of scaleup companies to the nation’s economy. Part of a series from Endeavor Insight focused on scaleup ecosystems worldwide, the first two reports examine Indonesia and Colombia and spotlight the importance of supporting businesses in this crucial high-growth stage.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are becoming a critical component of economic and social development in Mexico and throughout Latin America. The report found that these businesses represent just 6% of the country’s total number of firms but created 30% of net new jobs over the past three years. For a market  like Mexico, with an estimated workforce growth of more than 7.9 million people by 2020, the demand for new jobs for young adults has never been higher. A reported 900,000 Mexicans between the ages of 15 and 24 are currently unemployed. This is the point where companies in the scaleup stage, with the right support network behind them, can contribute the most in terms of job creation, human capital and economic development.

Media coverage of research like “The 6-30 Report” makes it evident that the business community in Mexico and beyond is beginning to recognize the importance of scaleups in driving innovation and job creation in emerging economies. A survey of over 900 entrepreneurial leaders from around the world found that, in order for these companies to see continued success, steady access to global markets, talent, funding and support systems is critical. As Endeavor continues to study and promote these types of ecosystems worldwide, increased awareness among business leaders, investors and policymakers could help ensure that future entrepreneurs have the resources they need to make the biggest impact.

Read the full El Economista article in Spanish by clicking here and the full Forbes Mexico article in Spanish by clicking here. Read “The 6-30 Report” below:

Endeavor Entrepreneurs and Staff Members from Latin America Visit the Endeavor Global Offices

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Entrepreneurs, candidates and staff from Endeavor’s affiliate offices in Latin America, including  Mexico, Colombia, Uruguay and Chile, visited the Endeavor offices in New York City for a networking reception with Global staff members. The visitors were participating in Columbia University’s Entrepreneurship and Competitiveness in Latin America (ECLA) program, a 13-month intensive program focused on providing participants with the skills and direction necessary to implement and lead change within their organizations through a combination of classroom training, distance learning and project-based education.

“The professors and classes have been very interesting so far, and the project immersion aspect is important to entrepreneurship courses like this,” said Guillermo Zedan who works with Endeavor Entrepreneurs David Basulto and David Assael at ArchDaily, “We also get to learn about parts of our businesses we don’t always know about.”

The group stopped by the Endeavor offices after a day of courses to meet with members of the Global entrepreneur services team over cocktails and food. Entrepreneurs from Cinemagic, IQS, LiSim, and IPETH were also in attendance.

Learn more about the ECLA program by clicking here.

Endeavor Global President Fernando Fabre to Keynote EOE3 Summit

EO_primary_CMYKThe Entrepreneurs’ Organization (EO), a global business network of over 9,500 business owners across 40 countries, will be convening  nearly 400 entrepreneurs from around the world at its 2014 E3 Summit this March. Founded in 1987 by a group of young entrepreneurs, EO enables small and large business owners to connect and learn from each other, with the mission to create a  globally influential entrepreneur community.

The 2014 E3 Summit, with the theme “Experience the Entrepreneurial Energy”, will provide a platform for participants to discuss business and industry development through conferences, workshops, discussion panels, and more. Endeavor Global President Fernando Fabre will be among the keynote speakers at this year’s event alongside other top business leaders and entrepreneurs.

To learn more about the Summit, including registration details, click here.

January 2014 Newsletter

Jan2014 NewsletterTo view Endeavor’s January newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

2013 Endeavor Entrepreneur Summit Video: Alex Asseily and Fadi Ghandour

From Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 20, 2013).

In this fireside chat, Alex Asseily, STATE Founder & Executive Chairman and Jawbone Co-Founder, talks with Fadi Ghandour, Founder of Aramex and Endeavor board member, about the relationship between and intersection of revolution and entrepreneurship — both across industries and geographies.

Looking to transform the consumer electronics industry with Jawbone, Alex Asseily’s company became a leader in the mobile lifestyle field with products like the Jawbone Icon & Era headsets, the Jambox wireless speaker line and UP personal health solutions. In addition to his role as Jawbone Chairman, he has also been lauded for his work with the software company STATE, a global opinion network, and with  organizations like General Assembly.

One of the Middle East’s leading businessmen and entrepreneurs, Fadi Ghandour founded Aramex, the region’s premiere logistics and transportation company, and served for over 30 years as the company’s CEO. As both an active supporter of the Endeavor network and a well-recognized investor, he has become a noted figure in the world of entrepreneurship and social innovation. 

Watch the playlist of excerpts from their discussion:

The National Spotlights Endeavor's Growing Presence in the Middle East

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The UAE news outlet The National recently profiled Endeavor’s work in the region, including the formation of the Endeavor UAE affiliate in 2013.

In the article, contributor Neil Parmar highlights the growing interest in scale-up entrepreneurship in the Middle East, evidenced by some of the region’s top business leaders and investors volunteering to join the governing board of Endeavor UAE. Given the success of the Endeavor model in Latin America, many saw an opportunity to expand the concept in the Middle East where the ecosystem of entrepreneurship is not only helping to bring stability and change, but also showcasing regional talent to the world.

The article also discusses the 51st Endeavor International Selection Panel which took place in Dubai in December 2013 and highlights Duplays and PropertyFinder, the first UAE entrepreneurs to be selected at the panel. Other Endeavor Entrepreneurs mentioned include Anghami from Lebanon, TalentS  from Saudi Arabia, and Konut Kredisi and Pozitron from Turkey. 

Endeavor currently operates affiliates across the region in Egypt, Jordan, Lebanon, Saudi Arabia, Turkey and the UAE. Read the full article from The National by clicking here.

Endeavor Entrepreneurs Silvina Leibenberg and María Noel Ache Featured on CNN en Español

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Endeavor Uruguay Entrepreneurs Silvina Leibenberg and María Noel Ache were both  featured on CNN en Español for their work as successful female entrepreneurs.

Silvina Leibenberg appeared on the channel’s “America Latina: Fuerza En Movimiento” series, which spotlights successful  business leaders and entrepreneurs across Latin America. Silvina and her husband and partner Michel Cohen have grown Lolita, their Uruguay-based women’s apparel company, from a small family store to a multi-national retailer operating across 17 countries. In the interview, Silvina offers insight on the company’s success thus far and why Latin America is proving to be a vital market and econ