High-Impact Entrepreneurship

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

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

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

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

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

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

Learn more about EY’s SGFs by clicking here.

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The youth employment panel at the Forum

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Endeavor staff members at Las Majadas Casona de Campo for deliberations

ARGENTINA

Entrepreneurs: Federico Malek & Alan Kraus
Company: Avenida!

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

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

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

Entrepreneur: Ernesto Cambursano
Company: DataFactory

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

BRAZIL

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

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

Entrepreneurs: Francisco Salles & Renato Saraiva
Company: CERS

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

CHILE

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

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

Entrepreneurs: Hernan Restini & Gonzalo Restini
Company: FMA

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

COLOMBIA

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

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

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Voting during panel deliberations

MEXICO

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

Accessing affordable capital is a longstanding problem in Mexico as a large portion of the population – the young in particular – do not qualify for a wide range of financial services – like loans, and credit cards – because of low or nonexistent credit scores. In practice, this situation means that people have poor-quality alternatives to banks, such as offline sub-prime and pay-day lenders, who charge high fees and can be slow to deliver funds. Kueski, an online micro-lending platform, applies big data and advanced analytics to approve micro-loans for Mexico’s financially underserved population within 10 minutes of customers placing their request. Fast, transparent, and available 24/7, Kueski is the most convenient lending platform for those who need an immediate loan.

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

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

Entrepreneur: Francisco Cordero
Company: Laudex

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

PERU

Entrepreneur: Nicolas Droguett
Company: SeguroSimple

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

SOUTH AFRICA

Entrepreneur: Kirsty Chadwick
Company: The Training Room Online

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

SPAIN

Entrepreneur: Philippe Gelis
Company: Kantox

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

Entrepreneur: Daniel González de Vega
Company: Smartick

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

Entrepreneur: Juan de Antonio
Company: Cabify

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

UAE

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

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

Entrepreneur: Wadih Haddad
Company: The Box

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

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Entrepreneurs at Makerspace during Candidates’ Day

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

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

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

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

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

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

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

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

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

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

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

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

Endeavor Entrepreneurs and Mentors Participate in the 2015 SXSW Interactive Festival

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

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

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

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

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

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Steve Case with entrepreneurs and staff members

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Endeavor VP Allen Taylor in a panel discussion

Endeavor 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

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

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

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

Read all the key takeaways in TechCrunch by clicking here.

Mentors Are The Secret Weapons Of Successful Startups

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Read more about the event by clicking here.

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