31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City
New York, NY – August 14th – Endeavor selected 31 high-impact entrepreneurs leading 21 companies in 15 countries at its 54th International Selection Panel.
Endeavor now supports 948 High-Impact Entrepreneurs from 606 companies across 20 countries. The entrepreneurs were chosen from among 29 candidate companies at a panel held from August 11-13th for the first time in New York City.
A number of pioneering entrepreneurs and groundbreaking companies are part of this new class, including Saudi Arabia’s Lateefa Alwaalan, the first female candidate from the country and founder of Arabic coffee producer Yatooq, and Argentina’s Emiliano Kargieman, founder of nano-satellite developer Satellogic. Endeavor Spain also welcomed its first entrepreneur, Ignasi Vilajosana of Worldsensing, into the network.
The International Selection Panel (ISP) is the culmination of a rigorous multi-step selection process. At the ISP, top local and international business leaders interview candidate companies about their businesses and high-impact potential, and then vote on whether or not the candidates should become Endeavor Entrepreneurs.
“This was our largest panel ever and resulted in one of the most diverse classes of high-impact entrepreneurs selected by Endeavor,” said Endeavor co-founder and CEO Linda Rottenberg. “Not only are they innovating economies from Chile to Greece and Saudi Arabia to Indonesia, they are showing the world that excellent talent and big ideas can thrive anywhere with the right mix of support and mentorship.”
After their selection into the network, Endeavor provides the entrepreneurs with customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. Endeavor Entrepreneurs have had an impressive track record of creating jobs, building sustainable growth models, and inspiring future generations of leaders in their home countries.
This ISP was supported by Barclays and EY, both global sponsors of Endeavor. Barclays welcomed the entire panel to their New York offices for orientations and for interview day on August 12th.
Endeavor will be hosting two more ISPs in 2014. Locations will be Istanbul, Turkey and Miami, FL. Brief descriptions of the newly selected entrepreneurs and companies follow.
Entrepreneur: Emiliano Kargieman
Company: Satellogic (www.satellogic.com)
With a product that is out of this world, Satellogic is bringing space down to earth. Before Satellogic, the earth observation market relied on multi-million dollar, monolothic hardware incapable of real-time data streaming. Satellogic is building a constellation of inexpensive, mass-produced nano-satellites that disrupts this paradigm. With a fully deployed constellation, Satellogic will be able to provide commercial-grade resolution images in real-time data streams, at the fraction of the current cost, thus reducing barriers to obtain real-time satellite data and democratizing access to space-based services. The result is an endless universe of possible applications, from estimating revenue by tracking cars in a supermarket parking-lot, to detecting developing forest fires. Satellogic will transform Big Data from Space into a fundamental part of daily decision making for all branches of government, organizations, industries, and individuals.
Company: BioFiltro (www.biofiltro.cl)
BioFiltro has harnessed the power of mother nature to create an energy-efficient, chemical-free, low-cost, and odorless wastewater treatment technology. Known as BIDA (BioFiltro Dynamic Aerobic), BioFiltro’s patented bioreactors use earthworms and bacteria to treat industrial wastewater without the use of chemicals and at 80% less energy than conventional systems. BIDA transforms wastewater into clean water for agricultural use in one-eighth the time, 30% the CapEx, and 70% the OpEx of traditional technologies. BioFiltro’s expansion into some of the most regulated markets has impacted the way wastewater is filtered and influenced public perception to thinking of wastewater as a resource.
Entrepreneur: Gonzalo Muñoz
Company: TriCiclos (www.triciclos.cl)
Reduce, recycle AND recurring revenue is TriCiclos’ mantra. With developed countries increasingly implementing extended producer regulations (EPR), the responsibility for waste management has shifted from municipalities to the very corporations that generate the waste – not that most Latin American governments offer recycling collection services to begin with. By providing Clean Points (CPs) – recycling stations where individuals can deposit recyclable consumer materials – and managing waste management logistics efficiently, TriCiclos is not only the most reputable post-consumer recycling company in Chile, but also the only one capable of tracking and monetizing EPR compliance. The 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 a “B Corp” and can certify that over 90% of materials put into its social clean points will actually be recycled.
Entrepreneur: Chris Khalifa
Company: Zooba (www.zoobaeats.com)
If you think food trucks are the hottest new craze, it’s time for a history lesson: Egyptians have been rolling their wooden food carts around the dusty streets of Cairo for decades. Unlike their Lebanese and Turkish counterparts, Egyptians have struggled to make traditional foods relevant and trendy, resulting in a national cuisine that is underserved locally and nonexistent globally. Zooba is the first restaurant chain to give classic Egyptian street foods a gourmet twist, a concept delivered through a social dining atmosphere designed to appeal to Egyptians’ shared sense of community. With three thriving locations throughout Cairo, founder Chris Khalifa is ready to expose the world to his local cuisine.
Company: Qabila (www.qabila.tv)
Qabila is an Egyptian alternative media studio founded to provide value-based and entertaining content that explores society’s most pressing issues in a fun and accessible way. The company began in the throes of the Egypt’s 2010 Revolution, when 15 friends banded together to create videos that explained democratic principles in entertaining Youtube videos. These videos quickly amassed a following, and earned the attention of some of the region’s most prestigious institutions, such as multiple UN agencies, the Arab League, and the Ford Foundation, who hired Qabila to produce public service announcement videos (PSAs) about issues like youth empowerment, environmental health, and sexual health. With its PSAs, short documentaries and feature-length documentaries, Qabila’s productions is on its way to consolidating its position as the leader for value-based content in the region.
Entrepreneur: Thomas Douzis
Company: Ergon (www.ergonfoods.com)
Leveraging a network of over 150 independent, local, artisanal producers that create 600 products under the unified Ergon brand, Thomas Douzis, is reintroducing Greeks and foreigners alike to delicious Greek gastronomy. Since Greek cuisine is as much about people coming together over food as the food itself, Ergon created a line of affordable-luxury restaurants that are combined with functional grocery stores. The menu, created by executive chef Dimitris Skarmoutsos, previously a judge on the show Greek Master Chef, has been meticulously crafted with Ergon products to offer diners authentic recipes with a modern twist.
Entrepreneur: Antonius Taufan
Company: GiftCard Indonesia (www.giftcard.co.id)
In the game of cards, Gift Card Indonesia (GCI) is holding a royal flush. In Indonesia, corporate gift-giving is customary but unimaginative; companies seeking to reward their stakeholders struggle to do so in a way that is personalized and professional. GCI is redefining the gift-giving experience by creating end-to-end solutions for the burgeoning gift card ecosystem in Indonesia. In two short years, founder Antonius Taufanhas acquired some of Indonesia’s most prominent corporate clients who are seeking to distribute gift cards to reward their employees and stakeholders. While Taufan is leading a new way to incentivize corporate stakeholders in Indonesia, he has always set his sights on building an ecosystem for gift cards and alternative payments, primarily targeting the unbanked population.
Entrepreneur: Khalil Shadid
Company: ReserveOut (www.reserveout.com)
Before Khalil Shahid’s ReserveOut system revolutionized the way restaurants in the Middle East took reservations, customers had to call and request a time or risk showing up and waiting for a table.ReserveOut’s electronic reservation booking and customer management system offers restaurants software to help them efficiently manage and record customer reservations, touchpoints, and preferences. The ReserveOut web and mobile applications enable online and mobile users to easily search and immediately reserve with venues that are part of the ReserveOut network.
Entrepreneur: Omar Christidis
Company: ArabNet (www.arabnet.me)
Want to catch the latest digital trends in the Middle East? Try ArabNet. In a region that boasts the highest growth rate of Internet usage in the world (16.7% according to the European Travel Commission), the digital economy presents a tremendous opportunity. To realize this potential, entrepreneurs, investors and digital professionals need to connect with and learn from each other. ArabNet serves as the platform to connect these stakeholders through its annual conferences, regional competitions, and online portal. With over 7,000 unique attendees of its events, ArabNet has established itself as the premier platform for everything digital in the Middle East.
Entrepreneur: Hind Hobeika
Company: Instabeat (www.instabeat.me)
Instabeat is the first and only display monitor that mounts on the straps of any swimming goggles, allowing swimmers to monitor their heart rate in real time through a color coded display on the interior of the goggles. The device is small, creates minimal friction with water, and provides key information without having the swimmer lose focus. Hind sees the technology as applicable to athletes beyond swimmers and plans to launch a Triathlon version (which would attach to sunglasses) in 2015. Having filled a gap in the global wearable technology industry, estimated to reach US$50B by 2018, Instabeat is in a position to scale rapidly.
Company: Juris Technologies (juristech.net)
There are few businesses more recession-proof than the business of debt. Born from the debt recovery challenges facing banks during the 1997 Asian financial crisis, Juris Technologies developed an end-to-end software solution for the credit management process. In a market in which credit has been rising sharply for five consecutive years, Juris eases the burden on financial institutions by offering a complete suite of solutions that allows them to evaluate customers, approve loans, and recover debt. Because credit management requires active, ongoing collaboration between multiple players, Juris has created software platforms that encourage and facilitate external collaboration among all parties while layering onto existing systems and infrastructure.
Company: Tanya Moss (www.tanyamoss.com)
Tanya Moss puts the joy is joyas. Symbolized by its iconic butterfly motif, Tanya Moss jewelry lines are sophisticated accessory options for the modern woman, combining timeless taste with a modern edge. Tanya Moss products are made with premium quality materials, including precious metals and semi-precious stones. The brand is widely recognized by its iconic butterfly motif, which symbolizes the fun yet elegant designs that ensure the modern-day woman exudes confidence and style.
Entrepreneur: Carlos Frigolet
Company: Purafiltracion (www.purafiltracion.com)
Poor air in a New York subway station on a summer’s day is disgusting. Poor air in a control room of an offshore drilling rig is a multimillion dollar disaster waiting to happen. Many plants, particularly those in the Oil & Gas and Power Generation industries, release corrosive chemicals. If these chemicals enter the control room, they can damage and rust electronics leading to short circuits, the potential shutdown of the entire plant and possibly even deadly explosions. Purafiltracion sells systems that eliminates 99.5% of gas pollutants, ensuring clean air and extending the lifetime of the control rooms from six months in a harsh environment to 10 years. It also sells systems that maintain ideal temperature and humidity conditions in control rooms preventing equipment failures. With these systems, plant workers can finally breathe easy (and cleanly) at night.
Entrepreneur: Adolfo Babatz
Company: Clip (payclip.com)
With Clip, you’ll never have to tell a customer you don’t take their credit card again! Clip allows Mexican businesses to replace outdated POS systems with a sleek and easy-to-use piece of hardware that accepts any credit and debit card. The device seamlessly connects with an operator’s smart phone or tablet by fitting into the headphone jack of an iOS or Android device. The operator opens the free Clip app, enters the amount to be charged, and Clip charges a 3.6% transaction fee or 4.6% on installation payments. The reader is the first version in Mexico that includes a patented fraud protection program and chip reader, which is critical to the Mexican market, and Clip is only one of two companies in the world to have its own proprietary design for the reader (the other is Square).
Company: LearnerNation (www.learnernation.com)
Michael Laas and Michael McCord are disrupting the corporate training market by making learning awesome in six languages with LearnerNation, a cutting-edge, cloud-based, adaptive learning platform with patent-pending technology. The e-learning platform is intuitive and offers progressive teaching tools, which increases information retention and performance. Counting MasterCard, LG, and Cartier as clients, LearnerNation is poised to be a breakout success story for the burgeoning tech ecosystem in Miami. With the global market spending an estimated US$62B on corporate training, LearnerNation has the opportunity to quickly gain market share and be a globally accessible platform.
Entrepreneur: Lateefa Alwalaan
Company: Yatooq (yatooq.com)
Yatooq, a Saudi Arabian company founded by Lateefa Alwalaan in 2011, makes it easier and faster to brew Arabic coffee, a spicy coffee central to all social gatherings in places like Saudi Arabia, Bahrain, and the UAE. When made traditionally, Arabic coffee takes 20-30 minutes to prepare and requires over ten steps, and numerous ingredients to complete. Yatooq’s coffee brewer and Arabic coffee blend reduce brew time (75%) and effort required while consistently producing delicious Arabic coffee. With Lateefa’s selection, Endeavor Saudi Arabia would welcome its first female entrepreneur to its portfolio, an exciting addition who could serve as an inspiring role model for the country’s entrepreneurial ecosystem.
Company: UTURN (uturn.me)
From satire to soaps, Uturn provides the entertainment Saudis really want. Uturn is a multi-channel network that produces and features local Saudi content, creating an online viewership community spread across several social media channels. Its original and aggregated content fills a void in the many a country where the traditional, government-controlled state broadcasters have failed to engage a young audience. Its award-winning content includes two of the longest running online shows in Saudi, engendering a devoted viewership of 2 million subscribers and followers – the largest in the region.
Company: BOS Brands (www.bosicetea.com)
All too often consumers are forced to choose between a healthy beverage and a delicious exciting brand. BOS Brands, a beverage business based in South Africa, offers consumers stylish, premium beverages that taste great without compromising on health. Harnessing locally produced rooibos as the main ingredient in its two beverage lines, BOS Ice Tea and BOS Sport, all products are high in health benefits, low in sugar, and contain no caffeine, colorants, or preservatives.
Entrepreneur: Ignasi Vilajosana
Company: Worldsensing (www.worldsensing.com)
Worldsensing is pioneering the Internet of Things. With smart sensors that improve traffic management and infrastructure maintenance, Worldsensing has brought to the industrial and public sectors an efficient, easy method of data capture and analysis. Its traffic solutions help city administrators manage traffic and pedestrian movement, while industrial solutions support both safe infrastructure maintenance and seismic pipeline monitoring. It has integrated sensors in iconic cities and infrastructures around the world, including the streets of Moscow, Barcelona’s olympic stadium, and Stockholm’s main commuter train. Named by the BBC and the Wall Street Journal as one of the companies to watch in the Internet of Things space, and highlighted in the European Commission’s Business Innovation Observatory report on Smart Living, Worldsensing’s groundbreaking technology will transform cities around the world.
Armut.com is Turkey’s first online market place connecting users and service providers. It features trustworthy, reviewed professionals who offer reliable price quotes. Armut is a pioneer for Turkey, and has innovated the global model by developing a proprietary algorithm that automates the service provider vetting system and user-provider matching process.
Company: Dubai Desert Extreme (DDE) (www.dde-me.com)
Dubai Desert Extreme (DDE) is a distributor and retailer of sporting goods in MENA. The company has exclusive distribution rights with major sports brands, including Giant, Topeak, New Era, and Volcom. DDE also sells this merchandise in its own retail stores in the UAE. In 13 years, the company has not only brought the biggest names in athletic apparel and equipment to MENA but also generated interest and involvement in sports in the region.
Argentina’s Globant, founded by Endeavor Entrepreneurs Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran, had its U.S. IPO on July 18th, raising nearly $59 million. The Buenos Aires-based software development giant has become one of Endeavor’s top success stories by demonstrating the high-impact potential of entrepreneurs in emerging markets. In addition, as Endeavor Catalyst’s first investment, this IPO marks a major milestone for Endeavor’s innovative co-investment initiative.
Founded in 2003, Globant was envisioned from the start as a business that could generate world-class career opportunities for IT professionals while showcasing Latin American talent. Globant has become one of the fastest growing software solutions companies in Latin America, providing clients worldwide with solutions that are design-minded, scalable and efficient. The entrepreneurs have put Argentina on the radar of the global marketplace for offshore IT services, with a portfolio of clients that include Google, LinkedIn, Sabre and Electronic Arts.
The entrepreneurs were selected into the Endeavor network in 2005 with just 120 employees, and have now grown to employ over 3,000 people across 15 countries with the help of Endeavor’s mentorship, strategic guidance and investor connections. In 2008, Globant acquired Openware, an Argentine tech venture founded by Endeavor Entrepreneur Federico Seineldin, marking the first-ever merger between two Endeavor companies. In the same year, Endeavor helped Globant close its first round of venture capital financing led primarily by U.S.-based investors.
When Endeavor Catalyst was formed in 2012, the donor fund co-invested nearly $2 million in Globant as its inaugural investment. Endeavor Board Member and LinkedIn co-founder Reid Hoffman subsequently joined Globant’s Board of Advisors, cementing the company’s reputation as a world-class technology firm. In addition, Globant’s most recent financing round in 2013 saw a 20% acquisition by multinational advertising company WPP. The returns from the Endeavor Catalyst investment will ultimately go towards supporting Endeavor’s operations as well as the fund’s work with future entrepreneurs.
With annual revenue growth of over 30% in the past two years, including total revenues of $158 million last year, the IPO highlights Globant’s upward trajectory as the global demand for solutions in mobile, social, big data and cloud computing skyrockets. Globant’s success has demonstrated the importance of supporting entrepreneurs by creating an ecosystem of inspiration, mentorship and investment.
Since joining the network, the Globant team has been highly engaged with Endeavor’s work in Latin America and globally, serving as mentors, ISP panelists and donors. The founders have also attended and spoken at a number of Endeavor-hosted events, including both regional and global galas, retreats and summits. Martín and Guibert also serve as board members in Argentina, with Guibert recently named chairman of the local board. The story of the Globant founders is a testament to Endeavor’s model and the multiplier effect of entrepreneurship as the team becomes role models and investors for future generations of ventures.
“The trust that Endeavor puts in Globant 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 CEO Martín Migoya in a statement. “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 the second Endeavor Entrepreneur company to have an IPO in the U.S. MercadoLibre, founded by Marcos Galperin, Nicolas Szekasy and Hernan Kazah, was also an Argentine venture that successfully went public in 2007 on the NASDAQ market.
Learn more about the IPO news in the company’s press release by clicking here.
Madrid, Spain – July 14, 2014 – Earlier this year, Endeavor announced that it has expanded its European presence with the launch of Endeavor Spain, marking the organization’s second affiliate in Europe. Supported by some of Spain’s most influential entrepreneurs and business leaders, Endeavor’s launch has the potential to transform the Spanish economy and create much-needed jobs in a nation unsettled by rising unemployment. Endeavor first expanded in the region in 2012 with the formation of Endeavor Greece.
Between 2008 and 2013, Spain’s GDP saw minimal or negative growth year-over-year according to data from the The World Bank. Youth unemployment rates reached nearly 56% in 2013, making it the second most challenging economy for new graduates in the European Union, after Greece. With an increasing number of young people entering the workforce with few traditional job prospects, entrepreneurship has been on the rise – an estimated half of Spain’s entrepreneurs are currently between the ages of 18 and 34. Spurred in part by necessity, the rate of new startups in the region has increased over 8% and registrations of self-employed individuals increased by over 20,000 in the beginning of 2013. At the same time, however, only 5% of these startup companies reported employing 10 or more people, demonstrating the lack of proper resources and support for entrepreneurial growth. This is where Endeavor sees the potential for its model to transform the economy and foster an ecosystem of entrepreneurs whose businesses are able to move beyond the startup stage to become high-impact, pioneering ventures.
Given access to the right mix of mentors, business networks, capital and strategic advice, Endeavor Entrepreneurs have the potential to attract top talent and investments to the regions that need it the most. With a favorable environment for entrepreneurial growth, Spain has the necessary infrastructure to build a support network for businesses that can not only boost the economy, but also create a key market for jobs. In addition, an ecosystem of successful entrepreneurs will serve as vital role models and investors for future generations, creating a solid foundation for economic recovery and empowerment for years to come.
“We are excited to help unlock the potential of Spain’s growing pool of entrepreneurs,” said Endeavor co-founder and CEO Linda Rottenberg. “We know from our work in Greece and other challenged markets that entrepreneurship thrives in down economies, and Spain right now is primed for a major boom.”
Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success.
In the past 16 years Endeavor has selected 917 entrepreneurs from over 20 countries around the world in Latin America, Africa, Europe, the Middle East, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs.
All of Endeavor’s global affiliates are spearheaded by a local board of business leaders, each of whom believes strongly in the ability of high-impact entrepreneurship to transform economies. The Endeavor Spain founding board includes: Jaime Carvajal Urquijo, Special Partner & former Managing Director of Advent International; Jose Maria Alvarez Pallete, CEO & COO of Telefonica S.A.; Angel Cano Fernandez, President of BBVA; Sabina Fluxà, Executive Vice President & CEO of Grupo Iberostar; Javier Monzon, Chairman & CEO of Indra; Javier Perez Dolset, Chairman & CEO of Zed; Jose Luis Perelli, Audit Managing Partner, Audit Services of Ernst & Young Spain; and Francisco José Riberas Mera, Chairman & CEO of Corporacion Gestamp. Alvaro Lopez-Jorrin, Corporate Law Partner of Garrigues, will serve as secretary of the board.
“The Board of Endeavor Spain truly looks forward to being able to make a significant and lasting impact in the creation of a consolidated entrepreneurial ecosystem in Spain,” said Board Chairman Jaime Carvajal.
The board has selected Adrian Garcia-Aranyos as Managing Director to oversee the successful launch of Endeavor Spain. Mr. Garcia-Aranyos served previously as Vice President of Media Relations for Latin America at J.P. Morgan Chase and as the Americas Marketing Director and Latin America co-head for The Economist Group. As MD of Endeavor Spain, he will lead the day-to-day operations of the office in Madrid and will be involved in screening local entrepreneurs for selection into the network.
Endeavor announced this month that its 2014 Gala on Friday, November 7th in New York City will honor Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group.
A visionary entrepreneur, Mr. Naqvi founded The Abraaj Group in 2002. The firm has since emerged as a leading investor in growth markets with US$ 7.5 billion in assets under management. Employing over 300 people, the Group has 25 country offices spread across six regional hubs in Dubai, Istanbul, Mexico City, Mumbai, Nairobi and Singapore.
In 2011, Mr. Naqvi was named as one of the 50 most influential people in the global private equity industry by Private Equity International. He has been the recipient of numerous awards, including the Oslo Business for Peace Award, the highest form of recognition given to individual business leaders for fostering peace and stability through creating shared value between business and society. At the Gala, Mr. Naqvi will be presented with Endeavor’s 2014 High-Impact Entrepreneur of the Year Award, which honors global entrepreneurial role models and leaders of the high-impact entrepreneurship movement.
Mr. Naqvi and The Abraaj Group have developed an important partnership with Endeavor over the past four years, supporting dozens of entrepreneurs and playing a critical role in Endeavor’s affiliate expansion throughout the Middle East, North Africa and Southeast Asia.
To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at email@example.com. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.
Join over 500 entrepreneurs, business leaders and Endeavor network members in the heart of Manhattan for a celebration of the high-impact entrepreneurship movement and Endeavor’s expansion to 20 emerging and growth markets worldwide. The Gala will honor Arif Naqvi, Founder and Group Chief Executive Officer of The Abraaj Group, with the High-Impact Entrepreneur of the Year Award. All proceeds directly support Endeavor’s work and efforts to expand to 25 countries by 2015.
To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at firstname.lastname@example.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.
In May, Endeavor Saudia Arabia brought together more than 200 entrepreneurs, business leaders and policymakers in a gala event that celebrated the official launch of the affiliate, which was announced in 2012. The event took place in Riyadh, the nation’s capital, with key public officials including Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, and Dr. Mohammad Al-Jasser, Minister of Economy and Planning, in attendance. Kicking off with an introduction to the magic of Endeavor, local board chairman Rami Al-Turki discussed the impact of scale-up entrepreneurship on the region’s development.
“Endeavor helps entrepreneurs to unleash their potential in several ways, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms,” Rami explained during the ceremony.
Managing Director Rakan Al-Eidi highlighted key data and facts about Endeavor’s growth and stressed the importance of supporting local role models and promoting entrepreneurship for future generations, particularly in the Middle East’s growing markets. All eight of Endeavor Saudi Arabia’s current entrepreneurs were honored at the event and discussed Endeavor’s role in helping them grow and transform their businesses. Endeavor mentor Dave McClure, founder of 500 Startups, also took the stage to underline the importance of investing in entrepreneurship in emerging economies.
Announced in 2012, Endeavor Saudi Arabia became the fifth Endeavor affiliate in the MENA region, which now includes Turkey, Jordan, Lebanon, Egypt and the UAE. Read additional coverage of the event in Arab News by clicking here.
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