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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. 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.


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


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.

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.

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


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.


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).


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.


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.


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.

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