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Endeavor company Yola listed a “Top 20 Tech Startups in Africa” by Forbes

Founded by Endeavor Entrepreneur Vinny Lingham, the South African tech company Yola has just been listed by Forbes Africa (a licensed affiliate of Forbes magazine) as one of the “Top 20 Startups in Africa”: “Founded by South African-born internet entrepreneur Vinny Lingham in 2007, Yola (formerly known as Synthasite) is a website builder which lets you create your own website with easy-to-use drag and drop multimedia features.” Check out the Forbes.com blog post about the list.

Yola has become a valuable resource for small businesses looking for affordable, easy-to-use website solutions. Vinny currently resides in the San Francisco area where he works on growing their North American business as well as angel investing and sitting on the boards of several tech companies. Along with being selected by Endeavor for another venture, Incubeta, he was named a World Economic Forum Young Global Leader in 2009.

Yola plays an important role in Africa as internet penetration continues to grow exponentially. Currently there are over 110 million users on the continent, a 2,300% increase over the last ten years, and having an online presence is becoming increasingly important for businesses and entrepreneurs on the continent.

Thoughts on Davos by an Endeavor Entrepreneur

Reprinted from Jorge Soto’s blog. See original article here.

By Jorge Soto

Endeavor Entrepreneur since 2011 and co-founder of CitiVox Jorge Soto was selected to attend the World Economic Forum in Davos as one of 30 Global Shapers from around the world. The following is his account of the experience.

-about arriving at Switzerland-

The first thing you notice about Switzerland is the silence…or the complete lack of noise, even at an international airport.I come from a crowded city and a crowded neighborhood where you are expecting to hear a guy with a loudspeaker selling tamales at 7am and another one buying old mattresses at 9pm.

But not here. Here you try to be as quiet as possible so you don’t disturb anyone. Better to let them go by.

If this is your first time at a german-speaking country, then you definitely will get lost on the trains.
Fortunately, the departure and arrival times are unique and surreally sharp. To get to Davos from Zurich airport you should take the 7:46 train to Chur arriving at 9:27, then take the 9:31 train to Tiefencastel and you’ll be there at 10:03.

-about the young global shapers-

Unconventional times call for unconventional leadership.

A group of around 60 people from 34 countries, called the Young Global Shapers, were invited for the first time to participate at the World Economic Forum to express their concerns and represent the millennial generation. I had the honor to be among those.

Once I got to know my fellow Global Shapers I can only feel real honor to be there. These are 29 year olds or younger changing the world every day in different sectors, in a local and in a global way. Just to add one more thing about how cool that group was, we were the only community at the World Economic Forum with real gender parity. One common trait that I’m happy to have found among the group is that we, young people, are embracing careers not only for financial gains but also to contribute directly to solve problems.

While leading one of the discussion tables about the role of the millennial generation, I heard that there is a study that has just came out about how the new technologies have changed modern society’s interaction (McKinsey is the source I think, I need to check on that sometime soon). In this study it says that in the 1930s they asked teenagers whether they consider themselves someone important and 12% answered yes. They asked the same question last year and 85% said yes. Our duty to lead differently is becoming increasingly apparent. We are finding the convergence of the public, private and non-profit sector and we are absorbing the best practices from each one of them while identifying areas of opportunity.

We are thinking globally.
We understand diversity.
We are connected.
We want to try, fail fast, learn and iterate.

With our passion, our concerns, our questions, our personal goals during the forum, our converse at the gala dinner, our thinking in networks and not in hierarchies (I really felt like giving the high-five to the mexican president while holding a mezcal on my other hand at the mexican party was a good idea), we were anything but conventional.

-about the discussions at the WEF-

There were a lot of important topics addressed at the panels, around the halls and during the parallel events at Davos:

The Eurozone economic crisis, the US economic crisis, the social crisis and protests around the world, the growing inequality between rich and poor, the environmental crisis, the job creation crisis, tech regulations, the food crisis, housing crisis, health care crisis, education crisis, nuclear crisis…it was overwhelming and you could feel a lack of optimism and fear. I focused my attention and tried to get involved in as many discussions as I could about how new technologies and social networks are a catalyst for social change, sometimes where previous efforts have failed.

We’re becoming a big smart community. Everything is networked now. Security and intelligence to manage and make sense of all the information generated by that community and how to make it actionable are now the concerns for the next couple of years. Clay Johnson said that in an information rich world, the wealth of information means a scarcity of attention. We are not an audience any more. We are a networked public and we do much more than just consume information. We discuss, we participate, we comment, we share, we like and, ultimately, we amplify the message.

However, the truth is that society’s outdated institutions (governments, companies, citizens, organizations) perpetuate incongruent values that prevent a balance between strategic leadership and self empowered action. To put it in the words of one of my mentors, the problem is not a technological one, it is an anthropological one.

Another hot topic was how to fix capitalism.

“Is responsible capitalism an oxymoron?” -Arose towards a panel.
I don’t want to believe that. I think it is about investing in social capital and creating a balanced ecosystem where social innovation should be the fuel of all the stakeholders of that ecosystem. Governments and institutions need to recognize two things: the first one is that economic development needs not only money but entrepreneurial engagement and an ecosystem to achieve social progress. The second one is that entrepreneurship is different than self-employment and it is not the solution by itself for the current job crisis.

-a brief thought about the occupy wef movement-

The shared identity of a crowd relies on its legitimacy.

The Occupy WEF protesters were invited to a panel to speak and have a dialogue about how to fix capitalism. Just before it began, they walked out of the room. They said that nobody with four aces wants a new deal.

As one the organizers of the WEF pointed out, it’s easy to say what you’re against to, but saying what you’re for is far more powerful. Anti-power expressions, rather than counter-power, know what they don’t want but are finding it hard to create an inclusive and coherent dialogue of what they do want and what they do propose to build a smart policy that might bring a truly progressive future.

-some last thoughts-

The biggest challenge of leadership is understanding and learning to lead in a two way conversation. That is why the scene where the occupy guys leave the discussion table before even starting it really upsets me up. And that is also why I congratulate the WEF for opening the doors to them. I hope the opportunities for dialogue and cooperation increases. Of course, the contradictions persisted. We were discussing the inequality of money distribution and that the 99% of Americans live like the 1% of the rest of the world while we were having lunch on top of the Alps, at a ski resort, with an amazing view and with enough food to feed more than 2,000 people. However, the mood was always somber and with a real lack of optimism.

I take a lot of things back from Davos. Inspiration is one of them. An urgency to be the change I want to see in the world is another one. There is a lot of need in the world. Each and everyone of us need to understand how we can help with our expertise and passion, and find the intersection between need and opportunity.

WPP to acquire majority stake in Endeavor firm 41?29! Media, an independent digital agency in Turkey

For full press release click here

WPP announces that it has agreed to acquire a majority stake in Endeavor company 41?29! Media Internet (“41?29!”), an independent digital communications agency based in Istanbul.

Founded in 2007 by Endeavor Entrepreneur Alemsah Ozturk, Bora Akman and Omer Ersoy, 41?29! offers digital communications services to clients across all business sectors.

The agency employs 48 people and clients include Diageo, Garanti Bank, Kraft, Microsoft, Nokia, Renault, Ulker and Unilever. (From press release.)

How Endeavor Entrepreneurs are faring after the Egyptian Revolution

Reprinted from wamda.com. See original post here, originally published as “Surviving the Egyptian Revolution: Small Businesses One Year After #Jan25.”

By Nina Curley

Days after the one-year anniversary of the Egyptian revolution, it’s now the Egyptian economy, not popular tolerance for dictatorship, that may have reached a breaking point.

Unemployment is higher than it’s ever been. Tourism is floundering, unhelped by recent demonstrations. After rejecting an offer from the International Monetary Fund this June, the controversial military-ruled transition government now returned to the IMF to ask for $3.2 billion in support, in what seems like a tacit admission of the failure of their policies over the past year.

In the startup space, venture capital deal flow has been slow. Sawari Ventures invested in mobile applications company Alzwad and software company Vimov in January 2011, when accelerator Plug and Play Egypt also invested seed funding in its first crop of six startups. Yet investment news slowed until venture capital firm Ideavelopers invested in local daily deal site Offerna in late October 2011. Plug and Play Egypt has now been put on hold.

With the recent launch of Flat6Labs’ first round, seed stage investment in Egypt is picking back up. But what of the small businesses that suffered through the year? As popular frustration with corruption turned to general suspicion of the private sector this year, some small businesses were hit particularly hard.

Others that we spoke to, supported by nonprofit Endeavor, have managed to survive the economic stall by carving out new markets or continuing to dominate their niches.

Targeting High-End Markets

For bakery chain and Endeavor firm The Bakery Shop, catering to customers with disposable income kept business afloat. “Pre-revolution things were doing quite well. We opened our first store in 2008, in the north coast of Egypt by the sea, where we introduced baguettes, croissants, and pastries to a market that consumes luxury products,” says co-founder Sameh El-Sadat.

After moving back to Cairo, TBS launched a store in upscale neighborhood Zamalek, followed by shops in Heliopolis and Maadi, and two more in 2011. “Things slowed down during the revolution, because people were afraid to spend too much, and the curfew didn’t help,” says Sadat. “But business picked right back up. Given that our market already has a high disposable income, we were not affected.” The fact that baked goods are comforting can’t hurt.

The company, which has two more shops slated to open soon, has also worked hard to beat out competitors and retain its talent, recruiting top bakers, sending them abroad for training, and compensating them well. “It’s important that they feel they are part of the ownership of the business,” says El-Sadat.

At Endeavor-supported company Azza Fahmy Jewelry, targeting a similar high-end market also helped insulate business. “You’d think that jewelry is one of the first things that people would stop purchasing during the revolution. But our sales were not affected as much as we expected,” says managing director Fatma Ghaly.

The jewelry company, which founder Azza Fahmy pioneered in the early 1980’s, creating unique designs inspired by Islamic architecture, momentarily put expansion plans on pause. And yet, as it gears up for expansion into U.S. and European markets, the attention that the revolution has garnered Egypt is turning out to be helpful.

“In terms of branding, Egypt got a lot of positive branding as a country,” Ghaly, who spoke about cultivating creativity at CoE, explains. “Now when we approach markets in the U.K. or the U.S., there is curiosity and there is a bit of excitement that wasn’t there before.”

Looking to Africa

For online and mobile banking company and Endeavor company eMasary, which was registered in 2009, the story has gone differently. As a company that facilitates online payments for the unbanked community, which comprises up to 90% of Egyptians, according to Infosys, the revolution hit harder.

The company, which has worked on large-scale projects like automating toll station payment on the Cairo-Alexandria Desert Road, had to cancel projects with the Ministry of Transportation due to the regime change. “We had an appointment with the Minister of Transportation on the 26th of Jan. The minister was removed, so the project was cancelled,” explains founder Moatasem Osam.

Once the government was thrown into transition, a project designed to allow consumers to pay traffic tickets online was also cancelled. As a result, the company has been pushed to think more about expansion into Africa, pushing towards Ethiopia, Ghana, and Nigeria as well as Dubai.

And yet, it hasn’t all been negative. “We’re attracting investors now,” says Osam, “perhaps because of the status of the country.

Hoping for Regulatory Change

While the previous regime worked to woo foreign investment, the new government will have to fight more than corruption to rebuild a comfortable environment for small businesses, say these entrepreneurs.

The government should incentivize training and technical certification, says Osam, while facilitating banking facilities for small and medium-sized enterprises. Ghaly hopes that laws governing trade, hallmarking, and custom laws will be relaxed to facilitate imports and exports. And El-Sadat points out that a more enabling regulatory environment will help other entrepreneurs be less afraid of failure.

As each finds new avenues for international expansion or outside investment, the sense that Egypt is a land of possibility may be the biggest boost. “The revolution really portrayed the true spirit of Egypt,” says Ghaly. “There is no longer a stigma of terrorism and ignorance driving portrayal of the Middle East.”

Endeavor Global closes investment round with IT firm Globant

The following press release can also be viewed here: http://prn.to/xpQVEQ

For the first time in its history, the global NGO – through the Endeavor Catalyst Program – invests $2MM in one of their selected High-Impact Entrepreneurs

New York, New York, February 1, 2012 - Endeavor, the word-wide leader in selecting, mentoring and accelerating high-impact entrepreneurs, announced that it has closed an investment round with Globant, a leading producer of innovative software products that appeal to global audiences, as the first investment of Endeavor Catalyst.

Endeavor Catalyst is a revolutionary and high-impact initiative that uses donated capital to allow the organization to co-invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment both to support Endeavor’s operations and to be reinvested into Catalyst to provide funding for other Endeavor Entrepreneurs.

The pioneering supporters of Endeavor Catalyst have each pledged $1MM to the investment vehicle, citing it as an innovative new model of philanthropy. The founding members of this Entrepreneurs’ Circle include Michael Ahearn, Chairman of True North Venture Partners; Edgar Bronfman, Jr, Former Chairman of Warner Music Group; Michael Cline, Managing Partner of Accretive LLC; Reid Hoffman, Partner of Greylock Partners and Co-Founder of LinkedIn; Arif Naqvi, Founder and Group CEO of Abraaj Capital; Pierre Omidyar, Founding Partner of Omidyar Network, Founder and Chairman of eBay.

“We are thrilled to be part of Globant´s story once again. The moment Globant’s founders were selected as High-Impact Entrepreneurs in 2005 we were struck by their passion and vision. We knew that they were going to change their society and country. Today, Globant’s reach and impact spans the globe, creating more than 2,500 high-quality jobs and working with the world’s greatest technology players. I am proud to announce that Globant has received the first investment from Endeavor Catalyst, a passive investment vehicle that uses donors’ funds to support Endeavor Entrepreneurs’ capital-raising rounds,” explained Linda Rottenberg, Endeavor Co-Founder and CEO.

Endeavor is leading the global high-impact movement to catalyze long-term economic growth around the world. With operations in 15 countries throughout Latin America, Africa, Southeast Asia and the Middle East, Endeavor has screened more than 29,000 entrepreneurs and selected 656 individuals leading 413 high-impact companies.  These Entrepreneurs have created over 156,000 jobs, generated over $4.5 billion in revenues in 2010 and inspire future generations to innovate and take risks.

“For us, this round means much more than just the $2 million. It is a symbolic act that shows the reinforced trust that Endeavor puts in Globant; trust that 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 Martín Migoya, Globant´s CEO and Co-Founder. “By renewing its commitment to Globant through the Endeavor Catalyst Program, 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 a company comprised by more than 2,500 IT professionals, based in 15 delivery centers across Latin America and US and working for customers like Google, EA, JWT and LinkedIn.The Company closed late last year the acquisition of SanFrancisco-based Nextive, a company specialized in the development of mobile software solutions. This operation allowed them to improve its organization around 8 studios, which in turn is contributing to position the Argentinean Company as leader in their industry.


About Globant (www.globant.com)

Globant is the Latin American leader in the creation of innovative software products that appeal to global audiences. For us, that means we are the place where the best engineers team up with art design studios and innovation labs to deliver a superb user experience.

In only 9 years, Globant:

- Has more than 2,500 professionals working for companies like LinkedIn, JWT, Zynga, and Google, among several others.
- Was selected as Endeavor Entrepreneur (2005)
- Was named among the top 10 software development company and top 10 product engineering vendor (2011) by Global Services
- Was included in the 2010 Cool Vendor in Business Process Services Report by Gartner
- Was featured as case study of Harvard, MIT, Stanford and others

About Endeavor (www.endeavor.org)

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 29,000 entrepreneurs and selected 656 individuals leading 413 high-impact companies.
With support from Endeavor’s worldwide mentor network, these high-impact entrepreneurs:

- Have created over 156,000 jobs
- Generated over $4.5 billion in revenues in 2010
- Inspire future generations to innovate and take risks

Headquartered in New York City, Endeavor currently operates in 15 countries throughout Latin America, Africa, Southeast Asia and the Middle East. As the high-impact movement expands globally, Endeavor will continue to show that anyone with a big idea can succeed, from Silicon Valley to Latin America, the Middle East, and beyond.

Endeavor Entrepreneurs featured on Wamda TV [in Arabic]

Recently, the Wamda website conducted video interviews with several Endeavor Entrepreneurs from the Middle East. The videos, which are in Arabic, are summarized below.

[Arabic]

Laith Zraikat and Omar Koudsi speak about how they channeled their abilities and ambitions into starting up the online community Jeeran in Jordan. Laith explains how recently, Jeeran pivoted into a new vision, generating highly localized content by providing its community with information about what’s happening in cities throughout the Arab World (causes, events, restaurants, etc.) and publishing them for people to comment on and connect around. This helps consumers narrow their choices and spend their time more efficiently.

Omar, meanwhile, explains how this is facilitating Jeeran’s regional expansion, and describes how the daily challenges of running Jeeran are his favorite part of being an entrepreneur.

(Source: wamda.com)

(more…)

Beleza Natural co-founder and CEO Leila Velez featured on Forbes.com

Beleza Natural Co-founder and CEO Leila Velez has a new approach to an old industry. Julie Ruvolo’s new article for Forbes.comBye Bye Brazilian Blowouts: The Next Big Brazilian Hair Trend is Beleza Natural (see original post here), offers insight into how Leila keyed in on overlooked aspects of hairdressing, and focused on underserved communities with her patented approach.  Leila’s idea was simple–less chemicals, and more natural approaches toward hair with women of color in mind.

In the Forbes interview, she describes how applying supply-chain techniques learned while working as a young woman at McDonald’s (a fact that she is rather proud of) to the hairdressing industry has driven her success.  Here she mastered the “art” and “science” approaches of the beauty salon–a place it is not often found.  Her approach is described as a “veritable conveyor belt of services” that begins with a private consultation, which designs a specific, unique plan for each individual, and ends in the actual hair design.  Her approach is so specific that her hair consultants (not hairdressers) analyze follicle density per quadrant of the scalp (they divide it into 16 quadrants), and takes into consideration the geometric shape of a client’s head in order to find the perfect cut that complements each woman.

This operation, which began in 1993, was entirely self-financed, largely due to her husband, Jair, selling his VW Beatle, has earned her the Ernst and Young’s Entrepreneur of the Year award in 2006 and recognition as one of Brazil’s Most Influential Women in 2007.

This idea of bringing more efficiency and attentive care to hair-salons has grown into twelve salons in as many years, and employs over 1,400 people, mostly women.  Leila has also just recently expanded into manufacturing her own proprietary line of hair-care products, 45 in all, that include creams, shampoos and follicle treatments.

Her company donates generously and offers free hair care to women in poor communities.  In fact, 70% of her workforce are former clients, and women from these underserved communities.  And employees remain happy as Beleza Natural offers good working conditions, generous health-care and tuition-reimbursement.  Keeping an eye toward the future, Leila is constantly brainstorming and utilizing social media for ideas on new products and concepts.

As the article points out, a recent initiative, The Beleza Natural Institute, has also devised a model salon blueprint that is scheduled to be scaled internationally. Her first location is already slated for Harlem in New York City.

Bodytech enters into strategic alliance with Sportlife, becomes the largest chain of gyms in Latin America

Bodytech, a chain of medical, health, and fitness gyms lead by Colombian Endeavor Entrepreneurs Nicolás Loaiza and Gigliola Aycardi, has announced a new strategic alliance with Sportlife, a line of Chilean gyms. With this partnership, the gyms will constitute the largest chain of gyms in Latin America.

Today Bodytech has 40 gyms in Colombia and 5 in Peru, while its Chilean counterpart, started in 1993 by Julio Berazategui and Mauricio Musiet, currently operates 37 gyms within Chile. With the signing of a MOU between the two companies, Bodytech and Sportlife will share over 150,000 members, 2,500 employees, and USD$125 million in sales annually. “This would allow our chain to establish itself as the regional leader in terms of size, profitability, number of members, and coverage, and as well as continue to fulfill the dream of a better quality of life for the communities of these three countries,” describes Bodytech President Nicolás Loiaza.

According to the leadership of both companies, this partnership will strengthen job stability for their employees, offer new opportunities for the development and growth of professionals in the industries of health and fitness, increase the value of both companies, and contribute to the economic development of all three countries. Gym members at both chains will benefit, as they will be allowed to attend any gym within the alliance without any additional cost. This partnership comes especially well-timed, as it follows the establishment of the Integrated Latin American Market (known by its Spanish acronym Mila), which merged the stock markets of Colombia, Peru, and Chile last May.

Even though they are still working out the exact details of their alliance, both companies are adamant that Bodytech and Sportlife will continue to operate independently under their current names in order to take advantage of the strong brand recognition that each has cultivated locally. Future plans include bringing the Sportlife brand to Colombia and the Bodytech line to Chile, and eventually, to enter the Brazilian and Mexican markets as part of an aggressive international expansion plan.

During the next five years, the companies plan to invest USD$250 million in order to double the number of gyms in their lines by 2015. Bodytech itself intends to invest USD$70 million solely in the next year to open 10 more sites in Colombia, 5 in Peru, and 5 in Chile, to end 2012 with 62 total gyms.

According to Loaiza, the way to obtain the necessary financial resources for this aggressive international expansion is an IPO in the Colombia stock market sometime in 2012 or 2013. “We have wanted to enter the stock market for the last four years, but now is the right time given the Integrated Latin American Market.”

La Cara Oculta, the new face of Colombian films

On January 20, La Cara Oculta, a suspense thriller produced by Dynamo in conjunction with Twentieth Century Fox, premiered in Bogotá to eager audiences. Dynamo is the holding company for Dynamo Capital, the only private equity fund for film financing in Latin America, and Dynamo Productions, a screenwriting, production, and distribution business, and is lead by Endeavor Entrepreneurs Andrés Calderón Rodríguez, Rodrigo Guerrero Rojas, Diego Ramírez Schrempp, and Cristian Conti Walli.

A Colombian-Spanish-American production by Colombia director Andi Baiz, La Cara Oculta, or “The Hidden Face,” examines the dangers of obsessive love and explores the limits of jealousy and betrayal. Last weekend, La Cara Oculta was the most-watched film in the country, and has drawn in more than 230,000 Colombian moviegoers since its premier.

Following the success of Satanas and Perro Come Perro, La Cara Oculta proves that Dynamo, in its six short years of existence, continues to raise the standards of Colombian film and lead the country’s growing movie industry. Directed and shot in both Colombia and Spain, the film first premiered last September in Spain, where it grossed over 2.3 million Euros within its first two months.

According to CEO Andrés Calderón, La Cara Oculta is a milestone for the young production company as it represents the first time powerhouse producer Twentieth Century Fox has invested in any Colombian movie. Calderón also credits director Andi Baiz for creating an impeccable suspense film, which manages to keep the public out of breath, even while telling the same story from different angles.

The film features performances by Colombian actress Martina Garcia and Spanish actors Clara Lago and Quim Gutierrez. Enhanced by a soundtrack by Argentine composer Federico Jusid, and the cinematography of Catalonian Joseph M. Civit, La Cara Oculta has been said to set new standards for Colombian moviemakers and represent a new face for Colombian film. La Cara Oculta is currently showing in select movie theaters in the US, and is expected to be screened in 16 countries worldwide.

Endeavor Entrepreneur Jorge Soto selected as one of 30 Global Shapers by World Economic Forum

Endeavor Entrepreneur since 2011 and co-founder of CitiVox Jorge Soto has been selected to attend the World Economic Forum in Davos as one of 30 Global Shapers from around the world.

Acknowledging that half of the world’s population is below the age of 27, the World Economic Forum created their new Global Shapers Community to supplement their existing network of Young Global Leaders in an effort to “provide youth with a global platform to shape the future.” Defined as up-and-coming global leaders between the ages of 20 and 30, Global Shapers must demonstrate a deep passion for entrepreneurship for the global public interest and a commitment to develop their leadership potential towards serving their communities.

Jorge, along with his partner Oscar Salazar, founded CitiVox in 2010 with the hope of enhancing the relationship between citizens and their governments. Through the use of crowd-sourcing and cloud-based technologies, CitiVox provides real-time report management to local governments based on compiled data received from local citizens. CitiVox services not only provide vital information to municipal authorities, but also increase civic engagement and government accountability. Jorge’s vision of utilizing emerging technologies as a tool for creating tangible social change has been rapidly reaching fruition as CitiVox continues to expand, with hopes of reaching 15 million citizens in 15 countries by 2013.

Jorge undoubtedly exhibits the best of these qualities; we congratulate him on his selection and wish him all the best at Davos!

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