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Endeavor’s trademark support will be of tremendous help to Kenyan entrepreneurs at a crucial point in their journeys; when they are poised to scale their businesses.
Endeavor launched a new office this February in Kenya as the first-ever Endeavor affiliate in Sub-Saharan Africa to help usher in a new era of growth and economic development driven by high-impact entrepreneurship in the country. Launching with strong support from local business leaders and impact investment firm Omidyar Network, Endeavor Kenya will support entrepreneurs and companies in the scale-up phase — enterprises that have passed through the initial start-up phase and who demonstrate the potential for rapid expansion.
Scale-up companies are becoming a critical component of economic and social development in Kenya. Additionally, 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, scale-ups 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.
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