November 2019 Newsletter

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

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Connected By Endeavor, Four Entrepreneurs Found Common Ground for a New Venture

From supporting entrepreneurs to becoming one herself, Daniela Terminel shares how Endeavor’s network has impacted her career and fostered the connections that led her to her current role as CEO and Co-founder of newly-launched venture Elephant in a Box.

Elephant in a Box Co-founders Mohamed Azab, Daniela Terminel, Reham Khalifa, and Mohamed Kamal.

After 15 years of knowing Endeavor and 11 being part of the team, I thought I really understood the power of its network. Throughout the years, I witnessed Endeavor’s direct impact in building hundreds of entrepreneurial success stories from many corners of the world. Support came in many flavors, from mentoring, to funding, to accessing talent and continuous education. Today, two years after I left my role at Endeavor, I’m living first hand what in my perspective is Endeavor’s network superpower: TRUST.

I recently joined Elephant in a Box, a New York based company set to disrupt the furniture industry, starting with the $36 billion sofa market in the US, through it’s high end, instant assembly/disassembly, portable couch, using a unique state-of-the-art patented honeycomb technology found in the aviation and aerospace industries.

Here’s the catch: All co-founders and main investors are connected to Endeavor.

Serial entrepreneurs, Mohamed Kamal and Reham Khalifa, the creators of the concept, participated in an Endeavor International Selection Panel with a previous venture. There, not only was the “think big” seed was planted, but that’s also when Mohamed Azab (an Endeavor Entrepreneur, Endeavor Egypt board member, and investor) and I met the pair. Azab became Kamal’s mentor, and the relationship evolved to a strong friendship.  Following Azab’s advice, Kamal went off to MIT for an MBA and Khalifa to Harvard Business School (HBS) for executive education. After one year of developing Elephant in a Box’s product at MIT, the relationship once again evolved to a partnership and Azab joined as the company’s co-founder.

In parallel, Azab and I continued to strengthen our bond. We worked together on many projects and he became not only my friend but also my mentor. We overlapped during our executive education programs at HBS, and often used to say, “how cool would it be to do something together.” During the HBS experience we both met David Salazar, who was, at the time, an Endeavor Detroit mentor, and is now an Endeavor candidate planning to attend an International Selection Panel later this year. Today, David is not only on our board, but is also one of our main investors.

The strongest teams are not made only from exceptional individuals bringing a diverse set of skills, experiences and backgrounds; they are built on trust. The trust that allows leveraging a team’s differences and collective brain power toward a common goal. The same trust that embraces a growth mindset, that is not afraid of revisiting assumptions, learning from the market, and THINKING BIG. At Elephant in a Box, we don’t just have any type of trust, we have trust built upon the values we shared through Endeavor’s network.

Today, I’m proud, honored, humbled and excited to be Elephant in a Box CEO and co-founder. For us, becoming a global unicorn and being selected as Endeavor Entrepreneurs is not a dream; once you have the Endeavor vision and DNA engraved as we all do, it becomes a milestone.

Authored by Daniela Terminel

Endeavor Selects 24 Entrepreneurs from 12 Markets at the 91st International Selection Panel in Istanbul

Endeavor selected 24 high-impact entrepreneurs leading 16 companies from 12 markets at the 91st International Selection Panel (ISP) in Istanbul, Turkey, held October 21-23, 2019. Endeavor now supports 1,992 entrepreneurs leading 1,243 companies in 35+ markets around the world.

The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off.

Over the course of the three-day event, panelists drawn from Endeavor’s extensive network of board members, mentors, supporters, and experienced Endeavor Entrepreneurs, interview entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and deliberating on which candidates should be selected to become Endeavor Entrepreneurs. Panelists must vote unanimously for a candidate to become an Endeavor Entrepreneur.

“Over the years, even as Endeavor has evolved, our selection process has remained the same. The ISP is really where you can see the power of Endeavor’s global network in action, and the candid conversations and caliber of the entrepreneurs this week in Istanbul is a testament to that.” said Endeavor Co-founder and CEO Linda Rottenberg. “We’re thrilled to welcome the 24 new Endeavor Entrepreneurs to our high-impact global community.” 

Once selected, Endeavor Entrepreneurs gain access to comprehensive customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key needs.

Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 3 million jobs, generated $20 billion in revenue in 2018, and help build sustainable growth models in their home countries.

Endeavor would like to thank the Endeavor Turkey Board for hosting the Welcome Dinner, Endeavor Entrepreneur and Endeavor Turkey Board Member Nevzat Aydın for hosting the Networking Dinner at his home, and Endeavor Entrepreneurs Emek Kırbıyık of Dugun.com, Koray Bahar of Foriba, and Burak Hucuptan of Chef Seasons for sponsoring the ISP’s gifts for attendees.  

Upcoming ISPs will be held in Riviera Maya, Mexico (December 11-13, 2019), Riyadh, Saudi Arabia (February 10-12), Brooklyn, New York (March 23-25), London, U.K. (May 11-13), Bali, Indonesia (June 30-July 2), Nairobi, Kenya (August 10-12), Lake Como, Italy (September 14-16), Palo Alto, California (October 26-28), and São Paulo, Brazil (December 9-11). For more information on these events, please contact ISP@endeavor.org.

Learn more about the companies and entrepreneurs selected in Istanbul below:

BRAZIL

Entrepreneur: Fabio Beal
Company: Kiper
Description: Kiper is first and last name in virtual doormen across Brazil. In a country where danger has driven many citizens to seek the safety of condominiums, delinquents have identified the weakness of these fortified high rises: the front door. Kiper provides integrated, IoT hardware and software solutions to replace traditional doormen in the foyers of thousands of buildings. Not only does this improve safety; it drives down costs for tenants and ensure smooth, reliable access protocols.

Entrepreneurs: Marcelo Scandian, Robson Privado and Daniel Scandian
Company: MadeiraMadeira
Description: MadeiraMadeira is an online marketplace that specializes in home products. From the very beginning, the company has understood that success in e-commerce means operating as a tech business rather than a traditional retail business. Through a cost-effective drop-shipping model and leveraging 25+ proprietary software solutions, MadeiraMadeira makes international household trends both financially and logistically accessible, attracting over 35K new customers each month.

EGYPT

Entrepreneur: Karim Khorshed
Company: Cequens
Description: Cequens is a leading cloud communication platform in the MEA region that provides Omni-Channel communication API’s enabling enterprises and developers to communicate with their customer base worldwide. Cequens’ proprietary Communication Platform leverages SMS, Voice, Push Notification, email, and Chat Apps APIs that is scalable, secure, reliable, and trusted by more than 500 enterprises worldwide, including HSBC, SAP, Google, Careem, Telegram, Anghami, SWVL, and ALRajhi Bank.

Entrepreneurs: Omar Gabr and Moataz Soliman
Company: Instabug
Description: Instabug is a platform for mobile developers that helps them communicate with their users, collaborate with their teams and build better quality apps. The company provides bug reporting, crash reporting, in-app chats, user surveys and more that help developers throughout the product life cycle. Instabug serves 4,000 clients across every major continent, and has been integrated in over 1.8 billion devices worldwide.

GREECE

Entrepreneur: Apostolos Atsalakis
Company: PNOĒ
Description: PNOE (pronounced “puh-NOY,” “breath” in Greek) is an end-to-end breath analysis solution for improving users’ general health, lifestyle, and athletic performance, as well as for simplifying regular screening for cardiovascular disease. PNOE leverages the science behind an established field known as cardio-metabolic analysis (CMA) – in short, CMA devices (generally face masks) glean hugely valuable health and wellness insights from the ratio of carbon dioxide to oxygen in users’ breathing. PNOE’s almost fully-automated system of algorithms and data analysts translate users’ breathing into easy-to-understand, actionable insights (e.g., dietary improvements, medical follow-ups for signs of disease) in 24 hours or less. PNOE was accepted into Y Combinator’s winter class earlier this year.

INDONESIA

Entrepreneur: Andreas Anggada
Company: PT Gumindo Bogamanis
Description: Kuaci Rebo is PT Gumindo Bogamanis’s main product, processing and selling premium-quality sunflower seeds and building mutually beneficial business partnerships with customers and suppliers. Rebo brand products have become the “market leader” for the category of sunflower seeds in the modern market. These products are found in supermarkets across Indonesia.

ITALY

Entrepreneur: Alessio Lorusso
Company: Roboze
Description: Roboze is a cutting edge 3D printer manufacturer that sells printer units to companies struggling to find 3D printers that ensure precision, customization, renewable design, resistance and durability. By providing clients with its Fused Filament Fabrication 3D printing solutions via its patented Beltless System and high thermoplastics materials, Roboze enables manufacturers to produce highly accurate and repeatedly durable parts. Applications within the functional prototypes fall across various industries such as aerospace and defense, plastics, oil and gas, consumer electronics and more. Roboze sells various types of printers, ranging from desktop to industrial sized. 

Entrepreneurs: Giuliano Messina and Alberto Mazzetti
Company: SosTariffe
Description: Italian customers face immense complexity when subscribing to service plans, and consequently lack the ability to make informed, cost-effective decisions based on their needs. SosTariffe enables customers to compare pricing for multiple service categories, including insurance, telecommunications, and utilities, enabling them to save money with the plan that best fits their usage habits.

MEXICO

Entrepreneurs: Jerónimo Gonzalez and Bruno Ramos
Company: Swap
Description: Swap makes transferring money as simple as sending and receiving a text message for its users – with or without a bank account. Swap is Mexico’s most-used digital peer-to-peer (P2P) payments platform, as well as a facilitator of mass cash disbursements for business clients.

NIGERIA

Entrepreneurs: Chijioke Dozie and Ngozi Dozie
Company: Carbon
Description: While 40 million Nigerians have bank accounts, only 1 million have an active loan from a regulated financial institution. Credit bureaus, relying on traditional sources of data, are only able to cover 11% of the population. The rest are thin credit file users, where credit bureaus have limited data due to factors including Nigeria’s poor addressing system, fragmented national identification systems and a largely informally employed population. However, 60 million Nigerians have mobile phones and are generating increasing volumes of non-traditional data, through their use of their mobile phones and their transaction history. By analyzing a consumer’s digital footprint, Carbon is able to assess credit-worthiness and provide short term, unsecured loans to any Nigerian with a smartphone and a bank account within 5 minutes, via a mobile app.

THE PHILIPPINES

Entrepreneur: Ronald Robins
Company: Mineski
Description: eSport leagues and tournaments are taking off around the world. Just last year, the League of Legends World Championship finals had over 100 million viewers tune in, more than the 2018 Super Bowl. Nowhere is the eSports industry growing faster than in Southeast Asia (SEA), at an estimated CAGR of 22%, with 340 million gamers expected by 2022. Central to its growth in SEA has been Mineski. Founded in 2008 as a chain of cybercafes, it has grown to touch every part of the eSports value chain. It operates 106 cafes, which double as offline locations to host events, has multiple globally-successful pro eSports teams, an eSports event production business, a news site as well as a media platform on Youtube and Twitch with a combined 260K subscribers.

SAUDI ARABIA

Entrepreneur: Muthanna Al Raqtan
Company: Ekuep
Description: Ekuep is a leading eCommerce site in the Middle East that sells commercial coffee and restaurant equipment to businesses and consumers. It also aims to solve equipment installation and maintenance issues in the Middle East through its mobile service application Sphere. As a venture spun out of the largest restaurant solutions supplier in Saudi Arabia, it leverages industry knowledge to offer the best products and services to its customers and has received the award as the best eCommerce site in the Middle East three years in a row.

Entrepreneurs: Naif Alsamry and Ayman Alsanad
Company: MRSOOL
Description: MRSOOL is a Saudi Arabian delivery/logistics platform that connects couriers to the masses. Designed to empower freelance drivers to tackle almost any errand, MRSOOL’s platform handles, goods, services, spare parts, correspondences, and almost any other task. MRSOOL utilizes instant bidding from couriers to guarantee the lowest market price for the consumer while back-and-forth chats allow the user, not MRSOOL, to specify exactly the task they’d like to accomplish.

SPAIN

Entrepreneur: Oscar Pierre
Company: Glovo
Description: Glovo is an on-demand courier service that purchases, picks up, and delivers products ordered through its mobile app. It aspires to be a multi-category lifestyle app with food delivery being the most popular offering. Currently, Glovo operates in over 200 cities across 26 countries in Europe, MENA, and Latin America. The team targets markets with low online penetration to position itself as the go-to delivery platform as internet adoption grows. A focus on lean and efficient operations allows the company to burn cash at a fraction of the rate of global competitors.

TURKEY

Entrepreneur: Mehmet Memecan
Company: Tarfin
Description: Tarfin Tarım AŞ sells the highest-performance agricultural inputs to its customers through widespread sales points. With its wide and reliable dealer network, developed agricultural risk scoring model and cloud-based futures sales platform, Tarfin offers farmers the best prices for agricultural input purchases.

UAE

Entrepreneurs: Ananya Narayan and Yan Gao-Narayan
Company: Hunter Foods
Description: Hunter Foods is a leading company in the innovative, alternative and “Better For You” snacks segment in the Middle East and Asia. Established in 1985, Hunter Foods produces a wide range of specialty and gourmet packaged foods under its own brands, such as hand-cooked potato chips, whole grain corn chips, vegetable and fruit chips, wholegrain rice snacks, high protein lentil chips, baked pretzel chips, quinoa chips, and superfoods, among others. Hunter Foods is also the exclusive distributor in the Middle East for leading cereal, biscuit, and nuts from the US, UK, Europe and Asia. With its long history in the UAE, Hunter Foods distributes into all major retailers and food service establishments (airline, hotel, restaurants, catering companies, etc.) in the UAE, while exporting to over 25 countries across seven continents.

 

Fintech Company EBANX is the Newest Unicorn in Latin America

EBANX, a payments company headquartered in Brazil and co-founded by Endeavor Entrepreneurs Alphonse Voigt, João Del Valle, and Wagner Ruiz, has the newest unicorn in Latin America — and the Endeavor Catalyst portfolio — after a follow-on investment round from FTV Capital helped elevate the company’s valuation to over $1 billion. 

EBANX is the fifth company that has received investment from Fund II of Endeavor Catalyst to become a unicorn, joining Cabify (Spain), Rappi (Colombia), Bukalapak (Indonesia), and Checkout.com (UAE). 

EBANX Co-founders Alphonse Voigt, Wagner Ruiz, and Joao Del Valle. Photo courtesy of EBANX.

EBANX is a cross-border payment solutions provider that is revolutionizing e-commerce in Brazil. The company allows Brazilians to pay for online purchases from foreign merchants using domestic payment methods, bank transfers and domestic credit card; whereas previously, only Brazilians with access to international credit cards could transact with these merchants. 

With Latin America’s fast-growing market and highly positive forecasts for the region, EBANX consolidates itself as a complete payment solution for global companies looking to expand their businesses in Latin America. Global ecommerce enterprises such as AliExpress, Wish, Gearbest, Pipedrive, Spotify, and Airbnb (these two in a partnership with Worldline) rely on EBANX to power their business in the region. EBANX’s solution goes beyond the payment processing itself – providing market intelligence services, analytics, anti-fraud strategies, 24/7 customer service in local language of Latin American customers, and localized marketing consultancy. 

“Becoming a unicorn reflects the unique solutions we have created to meet the demands of some of the world’s most recognized brands since we founded EBANX in 2012,” said Alphonse Voigt, co-founder and CEO. “From the start, our focus has been on connecting people in Latin America to global companies providing access and a seamless ability to transact. This investment from our partner FTV Capital highlights the continued success we have had in delivering best-in-class platform to our customers, and shines the light on Latin America as a massively attractive region for commerce.” 

Based in Curitiba, Brazil, and selected into the Endeavor network in December 2012, EBANX has been one of Endeavor Brazil’s fastest growing portfolio companies for several consecutive years. In December 2017 EBANX raised a $30 million US dollars growth equity investment from FTV Capital, with participation from Endeavor Catalyst. The funding was focused on expanding the reach of EBANX operations within Latin America, and it was the first investment raised by the company. Since that investment, EBANX has grown 80% across all its verticals, and today has operations in Brazil, Mexico, Argentina, Colombia, Chile, Peru, Ecuador, and Bolivia.

EBANX is continuing to expand its operations throughout Latin America and aims to increase its global business development efforts, as well as grow its product portfolio, including the expansion of EBANX Pay, a solution for local payment processing in Latin America.

Learn more about EBANX and the latest investment round here.

Five Years of Crazy is a Compliment

Endeavor CEO and Co-founder Linda Rottenberg’s first book “Crazy Is A Compliment: The Power of Zigging When Everyone Else Zags” was released in five years ago this October, bottling 17 years of insights and anecdotes from her work with nearly a thousand of the world’s best high-impact entrepreneurs. 

The book appeared on the New York Times bestseller list and has now been published in Spanish, Portuguese, Italian, Korean and Japanese. 

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.

Here are a few tips for entrepreneurs of all stages that Linda shares in the book:

Don’t Be Afraid to Close Doors

One of the worst pieces of advice is to perpetually keep your options open, says Linda. You need to learn to close doors. While it’s true that sometimes it’s not possible financially to quit your day job, too often people try to hedge their bets by having a full-time job and trying to launch on the side. “Closing doors allows you the chance to go all in on your dream,” she said. 

Create a Startup Pre-Nup

Three-quarters of entrepreneurs launch companies with friends or family. And while legal issues or shareholder agreements are not always top of mind at the start of a business relationship, not having such an agreement in place is one of the biggest causes of failure. That’s why it is critical to formalize your partnership agreement ahead of time, Linda says. “It may seem awkward to explore a ‘startup pre-nup,” said Linda. “But trust me: If you’re going to start a business with those you love, have a plan if the love goes away.”

Form a Circle of Mentors

That image of self- reliance is irresistibly romantic, deeply entrenched, and completely  misleading. Far more than others in business, entrepreneurs need help. Lots of it. A survey we did of Endeavor entrepreneurs showed that in their opinion, the most valuable contribution to their success—outside of their team—came not from those who provided financing but from those who gave good advice. Innovation isn’t a solo sport. Form a circle of mentors, Linda advocates, from different industries and professions, and different points in their own careers. 

Order your copy of Crazy Is A Compliment here

October 2019 Newsletter

To view Endeavor’s October newsletter, a recap of all the top news stories from the past month, please CLICK HERE.

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China Fintech Tour Broadens Perspectives and Facilitates New Connections for Endeavor Entrepreneurs from 11 Countries

From a crypto-currency exchange company from Mexico to digital remittance company from South Africa, a diverse group of 23 Endeavor Entrepreneurs representing 11 countries convened this September in China for a five-day tour of the fintech entrepreneurship ecosystem across three cities. 

Throughout the week, entrepreneurs attended meetings with 13 companies and three venture capital funds, and had the opportunity to hear from more than 20 local business leaders in intimate settings, designed to broaden Endeavor Entrepreneurs’ knowledge of China’s market and its unique advantages and challenges, spur meaningful discussions, and facilitate new connections within the ecosystem and with one another. 

Highlights included a visit to Alibaba, where founders heard from Alibaba Vice President of Global Initiatives Brian Wong and Ant Finance Associate Director of International Investments Andrew Zheng, and a session with Kelly Zheng, Vice President of Strategy at CreditEase, one of the top three fintech companies in China, which specializes in small business and consumer lending, as well as wealth management for China’s rapidly growing population of high net-worth investors. Entrepreneurs also met with Greg Gibb, Co-Chairman and CEO of Lufax, China’s largest internet finance company. 

The fintech tour gave Endeavor Entrepreneurs the opportunity to visit Alibaba.

“I was most was most impressed by the level of ambition these guys have. We’ve lost that in Europe,” reflected Giovanni Dapra, of Moneyfarm, an European leader in Digital Wealth management. “They inspired me to think bigger.”

During these meetings, entrepreneurs had the chance to dive deep into the market, gaining new perspectives into topics such as how China’s market size has influenced local-grown companies’ scale, the power of data, the culture around speed of innovation, and what role the government has played in shaping the entrepreneurship ecosystem. 

Attendees left the week with fresh ideas to apply to their companies in their home markets, a greater understanding of how to conduct business in China, and strategic local connections — and ultimately strengthened their own connections with one another. 

“I was impressed by how much knowledge the group had. It was a reminder of the knowledge and power of Endeavor’s network,” said Bitso Co-founder Daniel Vogel, who traveled from Mexico to attend the tour. “Spending time with other EEs didn’t factor into my decision to come to China, but in hindsight it was one of the most valuable parts of the trip.”

MBA Fellowship Field Report: Supporting Sustainable Smallholder Farming in the Philippines

Daniel Diaz is an MBA student at University of California, Berkeley, Haas School of Business. Here, he reflects on his internship at Endeavor Entrepreneur company Kennemer Foods in Mindanao, Philippines, through the Endeavor MBA Fellowship Program. 

I spent my summer in Mindanao, the southernmost and second largest island of the Philippines.  Despite recent growth, at a GDP per capita of ~$3100, Filipino income is still roughly a quarter of the world average (World Bank 2018).  Mindanao in particular is challenged by poverty, with ~30% of families unable to meet basic food and housing needs — areas in Western Mindanao above 50% (Philippines Statistics Authority 2018).  Agriculture is the economic foundation of the island. And “without progress in this region” “to raise agricultural productivity and improve farm-to-market connectivity,” the World Bank finds it “hard to see how the country can achieve sustained and inclusive growth (Philippines Economic Update October 2017).”

 In that pressing context, Kennemer Foods was established to  provide end-to-end support to smallholder farmers, including critical access to seedlings, agronomic assistance, a guaranteed market, and long term agri-financing.  Starting with 200 farmers in 2012, Kennemer has now engaged more than 17,000 farmers and planted over 19 million cacao trees. The for-profit social enterprise focuses on sustainable smallholder support, enabling high yield, high quality production that provides meaningful incremental income. 

 I was honored to work with a team with so much vision and humility.  I spent the bulk of my time in Davao, the largest city in Mindanao, supporting the senior management team, collaborating with our local team, and engaging our many smallholder farmer partners.  I had two main projects. The first involved researching and developing a strategic plan for cashless payment and financial inclusion. In the Philippines, 60% of payments are still made using cash (BSP Financial Inclusion Survey 2017).  The physical transport and management of this cash is incredibly costly, driving accounting inconsistencies and serious risk of fraud, corruption, and theft. In my research, I engaged officials from the central bank, managers at large commercial banks and telecom companies, as well as founders offering innovative digital wallets and mobile point of sale solutions.  This allowed us to map the payments landscape, and consider partnerships that could mitigate the risk in our payments to farmers and improve their access to financial services. Discussions are still in the works, but we are exploring a partnership with a large commercial bank, a vendor of mini-ATM terminals, and the agricultural development bank to support our largest cacao farmers in serving as local “cash agents” authorized to handle financial services in areas long considered unviable.

 The last half of my summer was spent building a financial model for a new business seeking to revitalize banana production.  “The banana…makes up some 25% of the daily caloric intake of some communities in the Philippines (UN FAO).” But climate change, soil degradation, and spread of disease are threatening its availability.  With this in mind, Kennemer is looking at innovative production methods and local varieties that can support more environmentally sustainable supply. My work focused on building a full financial model that assessed the return on investment for new forms of managed farming.  The company is continuing to explore development here.

 But I did more than work:1) I ate loads of raw cacao and banana.  2) I weaved dangerously thru traffic on my daily commute via scooter 3) I managed to get worse at surfing in Siargao. 4) I visited the recently re-opened Boracay for plenty of healthy, sustainable fun.  And 5) I developed a fantastic set of smart, empathetic colleagues and mentors that have only further piqued my passion for poverty alleviation and environmental sustainability. I am thankful to Kennemer Foods, Endeavor, and all my classmates for making such an impactful experience available to me and hopefully, the farmers of Mindanao!    

Endeavor Selects 37 Entrepreneurs from 15 Markets at the 90th International Selection Panel in Atlanta

Endeavor selected 37 high-impact entrepreneurs leading 21 companies from 15 markets at the 90th International Selection Panel (ISP) in Atlanta, Georgia, held September 23-25, 2019, including the first company to join the network from Northwest Arkansas. Endeavor now supports 1,967 entrepreneurs leading 1,227 companies in 35 markets around the world.

The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off.

Over the course of the three-day event, panelists drawn from Endeavor’s extensive network of board members, mentors, supporters, and experienced Endeavor Entrepreneurs, interview entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and deliberating on which candidates should be selected to become Endeavor Entrepreneurs. Panelists must vote unanimously for a candidate to become an Endeavor Entrepreneur.

“The ISP represents the heart and soul of the Endeavor experience, where today’s business leaders dedicate their time and expertise to lifting up the next generation of high-impact entrepreneurs,” said Endeavor Co-founder and CEO Linda Rottenberg. “We look forward to supporting the newest Endeavor Entrepreneurs in their journeys to scale, and welcoming them into our global network!”

Once selected, Endeavor Entrepreneurs gain access to comprehensive customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key needs.

Endeavor Entrepreneurs have had a significant track record of impact. Endeavor Entrepreneurs have created 3 million jobs, generated $20 billion in revenue in 2018, and help build sustainable growth models in their home countries.

Cox Enterprises was the presenting sponsor of Endeavor’s International Selection Panel in Atlanta. Additional sponsors included Aprio, Metro Atlanta Chamber, TechCXO, and Pacific Western Bank.

In 2019, ISPs will be held in Istanbul (October 21-23) and Riviera Maya (December 11-13). For more information on these events, please contact ISP@endeavor.org.

Learn more about the companies and entrepreneurs selected in Atlanta below:

ARGENTINA

Company: Plaza Logística
Entrepreneur: Eduardo Bastitta
Description: Plaza Logística is revolutionizing supply chains across the Southern Cone through investments in triple AAA rated, LEED certified multi-tenant logistics parks. By encouraging clients to create synergies across their logistics operations, from warehouse loading and unloading to security systems, Plaza Logística can bring down costs for large retail, e-commerce, and other business managing tangible goods. Backed by international development funds, Plaza Logística is raising the bar in long-term fixed asset management in the region.

ATLANTA

Company: Fleetio
Entrepreneur: Tony Summerville
Description: In North America alone, 2.3M+ vehicles are purchased for business purposes every year. Delivery trucks, cargo vans, and all vehicles in between are essential assets for many successful companies. However, managing these fleets of vehicles can be chaotic, stressful and inefficient for the average business owner. Spreadsheets and whiteboards, the original fleet tracking solutions, have become invariably ineffective for tracking vehicle needs. Without proper fleet management, organizations waste thousands of dollars due to vehicle downtime caused by lack of preventative maintenance. Fleetio entered the $565B fleet management market as a software as a service (SaaS) application with a core focus on businesses with small-to-medium sized fleets. The company’s ultimate goal is to become the Salesforce for fleets – a central hub for managing all aspects of companies’ fleet maintenance. Fleetio is the first Endeavor company based in Birmingham, Alabama.

Company: GreenPrint
Entrepreneur: Pete Davis
Description: Although today’s headlines are dominated by mentions of clean energy and electric vehicles, the world still runs on oil and gas. With consumer and regulatory bodies demanding more environmentally sustainable solutions, companies who operate in fossil fuel dominated fields require scalable ways to offset their carbon emissions. Enter GreenPrint, an environmental technology company providing sustainability-as-a-service to help companies reduce their carbon footprint and market their green efforts to maximize sales. GreenPrint offers the world’s first reduced fuel emissions program for fuel-reliant companies like convenience store chains, fuel retailers and corporate fleets.

BRAZIL

Company: Arquivei
Entrepreneurs: Christian de Cico, Bruno Oliveira and Isis Rafael Abbud
Description: Brazil’s digital bookkeeping program requires companies of every size and sector to document their B2B transactions with a complex electronic invoicing system. Arquivei is a SaaS platform that automates and streamlines the administrative work required to comply with this regulation, saving clients time and protecting them from expensive non-compliance penalties. In addition, Arquivei analyzes data from clients’ e-invoices, enabling them to extract valuable insights and find opportunities to improve.

Company: Dito
Entrepreneurs: Andre Fonseca and Bruno Alves
Description: Dito is an omnichannel customer retention platform that helps medium to large retail companies engage with both online and offline consumers. Dito offers cutting-edge campaign management through an online software as a service (SaaS) platform, as well as in-store sales assistance to build a holistic view of customers’ journeys with brands. With e-commerce in Brazil accounting for only 3% of retail sales, the offline component of the platform is essential to a holistic customer retention strategy. In Brazil, where the retail consumer goods market represents 20.8% of the GDP, or $356B, there is a huge opportunity to empower retailers with the technology they need to establish lasting relationships with customers and encourage brand loyalty.

CHILE

Company: Burn to Give
Entrepreneurs: David Alvo, Eduardo della Maggiora and Cristobal della Maggiora
Description: Burn to Give is a platform that allows fitness enthusiasts to put their efforts towards a good cause. The app tackles the global issues of both hunger and obesity by enabling corporate sponsors to match the calories burned by users in food calories for malnourished children around the world. Companies either participate as advertisers, or by powering their corporate wellness programs with Burn to Give’s technology. In less than a year, the app has been downloaded by over 400K people, and delivered over 450K meals to children in need.

Company: Cowork Latam
Entrepreneurs: Antonio Garcia, Horacio Justiniano and Sebastian O’Ryan
Description: Cowork Latam is leading the transformation of traditional workspaces in Latin America. Finding an office to work in, renovating and managing it can be a time-consuming and costly hassle for companies. Cowork Latam works with real estate develops to finance the refurbishment of premier offices across the region, creating spaces that allow large corporations and entrepreneurs to collaborate in an environment of radical collaboration.

GREECE

Company: Matternet
Entrepreneur: Andreas Raptopoulos
Description: Matternet has developed one of the world’s leading technology platforms for on-demand, aerial delivery in urban environments. The company currently provides drone delivery services for hospitals in the United States and Europe, transporting life-savings parcels over dense, urban environments. Matternet was the first company to begin revenue-generating drone flights in the United States and recently entered into an exclusive, multi-year partnership agreement with UPS to roll-out services at other hospitals across the country. With proprietary cloud-based software, installed infrastructure solutions, cutting edge hardware, and regulatory backing, Matternet is poised to seize upon the coming revolution in drone delivery.

Company: NumberAI
Entrepreneur: Tasso Roumeliotis
Description: NumberAI is a business messaging platform that enables SMEs to engage in two-way conversations with customers across different messaging services including SMS, Facebook and WhatsApp. The technology turns landlines into messagable numbers and provides small businesses with the tools and functionality to deal with an array of consumer needs. Numa, the AI platform, learns from interactions and can automate an increasing portion of customer service, including responses to FAQs, ordering, appointments, and reputation management. This platform is a solution to two problems: the inability of SMEs to keep up with inbound calls, and the obsolescence of the telephone call as an efficient communication tool between customers and small businesses. Eliminating these hurdles enables SMEs to quickly address customer needs before they move to competitors. The company is strategically  leveraging telecoms as a growth channel to access SMEs at scale. 

ITALY

Company: Sailogy
Entrepreneur: Manlio Accardo
Description: Sailogy aims to revolutionize the boat charter industry, making seafaring vacations commonplace. Connecting directly to charter companies existing global distribution systems (GDS), Sailogy automates the process of listing, pricing, and selling bookings, leaving charters free to focus on customer experience, boat maintenance, and operations. This affords customers a trusted online marketplace to browse destinations, search for boat options, and receive instant confirmation upon booking their vacation. 

Company: Travel Appeal 
Entrepreneur: Mirko Lalli
Description: Travel Appeal (TA) is a B2B tech company which leverages its proprietary AI product stack to deliver predictive analysis and insights for organizations operating in the travel sector. TA’s software gathers millions of data points from various online sources including review sites, social media, government data and search trends. It then analyzes the data based upon client goals to deliver recommendations to climb the rankings on OTAs and reputation channels, boost sales and out-maneuver competition. The company also offers an AI chatbot to improve customer service and improve brand loyalty. 

KENYA

Company: Copia
Entrepreneurs: Tim Steel, Crispin Murira and Tracey Turner
Description: Copia delivers underserved consumers the choice, convenience and opportunity they deserve through a network of digitally-enabled agents located close to their home. These customers live in areas where access to supermarkets and other formal retail is not available. The global economy has passed them by and seeks its fortune elsewhere. Copia’s agents recruit customers, advise them on available products and promotions, place orders, pay and receive deliveries. The company also offers an online shopping site that allows urban or diaspora customers to buy goods for delivery to their family and friends in rural areas

LOUISVILLE

Company: AppHarvest
Entrepreneur: Jonathan Webb
Description: AppHarvest is leading a paradigm shift in American agriculture that will dramatically increase output per acre and reduce the US’ reliance on fresh produce imports while shrinking the environmental costs of farming. The company is currently building North America’s largest greenhouse, the first in a series of massive indoor farms, which will produce tomatoes and cucumbers year-round using water-efficient, pesticide-free, hydroponic growing techniques.

Company: Capture Higher Ed
Entrepreneurs: Eric Shriner, Leonard Napolitano and Steve Huey
Description: Capture Higher Ed (“Capture”) offers a path towards a smarter, more streamlined recruiting cycle. Capture is a machine learning-enabled analytics platform that analyzes student data and online behavior to identify and reach prospects who are likely to apply, enroll, and ultimately graduate. Capture’s services leverage industry-leading data science to make sense of vast troves of prospect data – from time spent on a college’s website to the price of milk in a prospect’s hometown – to predict prospect behavior and inform client goals, from optimizing marketing spend to recruiting more diverse classes. 

MEXICO

Company: Territorium Life
Entrepreneurs: Carlos Elizondo and Gerardo de Jesus Saenz Gonzalez
Description: Many LMS platforms are simply re-creations of the traditional classroom in a digital setting – there are a myriad of missed opportunities to leverage data and technology to create better learning outcomes for users. Territorium enables college students and corporate employees to track skill development, then follow-up on goals through courses and experiences recommended by a proprietary algorithm. Territorium aims to link learning to long-term development goals and job prospects for college students, and to productivity and career development for professionals.

NORTHWEST ARKANSAS

Company: Field Agent
Entrepreneurs: Rick West, Kelly Miller, Henry Ho and Marc Yount
Description: In the age of digital transformation, physical retailers and consumer packaged goods (CPG) brands are struggling to match the level of data available to online players regarding customer engagement, shopping experience, market trends, and overall performance. Enter Field Agent (FA), the mobile-first platform that is harnessing the power of millions of consumers and their smartphones to upend the $260B market research and digital marketing industries. Field Agent combines technology with customization, while contributing to the on-demand economy by rewarding everyday shoppers (agents) for completed missions with cash payments.

PERU

Company: iVisa
Entrepreneurs: Sergio Merino and David Perez
Description: The process of applying for a visa can involve government bureaucracy, long forms, and inefficient means of payment. Governments focused on safety fail to offer a positive customer experience. Founded in 2013, iVisa is a third-party visa processor that simplifies the process of applying for a visa, saving foreign travelers time and frustration. Its website is available in 13 languages and accepts 150+ currencies. Through the first nine months of 2019, iVisa has processed over 100K visas to 48 countries. With this foundation, iVisa plans to expand with the growing e-Visa market and provide seamless world travel to its customers

SPAIN

Company: Brooklyn Fitboxing
Entrepreneur: Pablo Nebrera Salcedo
Description: Brooklyn Fitboxing is a franchised boutique fitness concept which combines music, non-contact boxing, and high-intensity interval training (HIIT) in a way that is approachable and fun for all levels. Each class is led by certified trainer, assisted by a video display that shows the exercises, and the scorings of each fitboxer. The patented system incorporates high-tech sensors in each bag that track synchronization, power, and calories burned for instant feedback and some healthy competition. It takes the atmosphere a step further with gamification, offering tournaments, a World Championship, and other events across the entire system. With 130 franchises and 50K customers across 11 countries in Europe, Lat-Am, US, and Africa, Brooklyn Fitboxing is quickly growing in the $9.5B boutique fitness industry.

TURKEY

Company: Volt Lines
Entrepreneur: Ali Halabi
Description: As urbanization continues to accelerate, the efficient use of mobility assets in big cities — reducing the growing number of empty seats in traffic — is important as climate change becomes a pressing priority. Volt Lines is a shared mobility network that’s aiming to create an alternative mode of transportation, combining the comfort of a car with the affordability of a public transit network. The network today is made up of 16-seater premium buses that service the commute between residential and business districts. The fast growth experienced by Volt Lines so far is an early indication that this new mode of transportation is about to redefine sustainable urban mobility in Metropolitan areas in Europe and the Middle East.

UAE

Company: TruKKer 
Entrepreneur: Gaurav Biswas
Description: TruKKer is disrupting the Gulf’s $20B road freight industry as its largest tech-enabled truck aggregator. In less than three years, TruKKer has amassed a fleet of 15,000+ trucks across seven countries, and now expanding rapidly to other parts of the Middle East, North Africa and Central Asia. Through its real-time matching of loads with trucks, truckers receive steady job flow and immediate payment. TruKKer’s hundreds of industrial clients enjoy the service of a reliable trucking supplier with advanced customer interface, data analytics, and lower rates than traditional carriers.

VIETNAM

Company: Ecomobi
Entrepreneur: Thanh Truong
Description: Ecomobi is a social selling platform that connects influencers/content creators to brands and ecommerce merchants across Vietnam, Indonesia and Thailand. The platform enables e-commerce sites and brands to sell and advertise their products directly to customers via a chatbot that integrates with KOLs’ (key opinion leaders) social media pages, such as on Facebook, Instagram, Line and more. Ecomobi automatically connects brands/merchants to the most relevant KOLs, eliminating the need for businesses to verify influencers and enabling them to track and optimize sales. The company will go beyond its core platform offering with the launch of its “Full Service Model” by the end of this year. Instead of just using chatbots to connect fans to third parties, Ecomobi will own and operate online stores branded by KOLs and will generate revenue through sales to fans and other customers.

Silicon Valley Event Shines Spotlight on Louisville’s Growing Entrepreneurship Ecosystem

Nearly 150 business and community leaders from greater Louisville and the Bay Area convened in Silicon Valley September 9 for “Endeavor Day,” a dedicated day of programming featuring a robust roster of speakers drawn from Endeavor’s network in Louisville and throughout the U.S. The gathering was part of an annual city-based retreat organized by Greater Louisville, Inc. (GLI), the Louisville Chamber of Commerce, and is designed to gather best practices and lessons learned that can be taken back home and implemented, while showcasing Louisville’s entrepreneurial talent to a wider audience. 

This year’s theme, “The Year of Tech,” drew speakers such as Rusty Rueff (Glassdoor, Tech 4 America), Joanna Rees (West Ventures), Dan Green (Gunderson Dettmer), Rhett Morris (Endeavor Insight), and Jackie Carmel (Endeavor Catalyst), alongside Endeavor Entrepreneurs from Louisville, to discuss high-impact entrepreneurship, community reinvestment, and how technology is shaping both.

(L-R) Jackie Carmel, Joanna Rees, and Dan Green discussed VC and the growing entrepreneurial talent pool in between the coastal hubs in a panel moderated by Endeavor Louisville Managing Director Jackson Andrews.

Highlights of the event included on panel on the “Importance of Venture Capital for Entrepreneurship,” during which Endeavor Louisville Managing Director Jackson Andrews led a conversation with Endeavor Board Member Joanna Rees, Endeavor Catalyst Managing Director Jackie Carmel, and Dan Green of Gunderson Dettmer, which focused on VC’s widening lens to entrepreneurs outside of Silicon Valley. 

“It was exciting to discuss how the venture capital landscape has dramatically improved between the coasts with so many important stakeholders of the Louisville community,” said Carmel, highlighting the growing pace of investment in U.S. entrepreneurs scaling businesses outside of the country’s hubs. To date, Endeavor Catalyst has invested in 10 U.S. companies, including two supported by Endeavor’s Louisville office, SkuVault and Lisnr

(L-R) Armando Mann, Demetrius Gray, Nick Mattingly, and Stacy Griggs highlighted Louisville’s growing entrepreneurship ecosystem and reflected on why more entrepreneurs are choosing to grow businesses outside of Silicon Valley in a panel discussion.

Louisville entrepreneurs Demetrius Gray (WeatherCheck), Nick Mattingly (Endeavor Entrepreneur, Switcher Studio), and Stacy Griggs (Endeavor Entrepreneur, El Toro) also spoke on a panel with Palo Alto-based angel investor Armando Mann about growing an entrepreneurial ecosystem and culture in Louisville, and the challenges surrounding that. 

“I was one of those guys that used to say you need to come to Silicon Valley to build your company,” said Mann. “However, I’ve been converted over the last five years. I now tell the companies I meet with to get out, because it is so hard to find talent that will stick with you for the long haul.”

Griggs agreed, highlighting the benefits of a rich talent pool coming out of local universities and the importance of showing the next generation that world class tech opportunities are not just in Silicon Valley. “We don’t want to become a Silicon Valley, we want to become the best Louisville we can be.” 

 

Watch a recording of their panel discussion here.

View other videos from the event on GLI’s Facebook page here.

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