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42 High-Impact Entrepreneurs from 12 Countries Join the Endeavor Network at the 55th International Selection Panel in Istanbul

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Istanbul, Turkey – October 24, 2014 – At the 55th Endeavor International Selection Panel (ISP), 42 high-impact entrepreneurs leading 23 companies from 12 countries were welcomed into the Endeavor network.

Endeavor now supports 990 High-Impact Entrepreneurs from 629 companies across 21 countries. The entrepreneurs were chosen at a panel held from October 22nd – 24th in Istanbul.

The ISP is the culmination of an extensive multi-step selection process that is at the core of the Endeavor model. At the Istanbul ISP, top business and industry leaders from around the world interviewed candidates to discern their potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs.

“The diversity of the businesses represented at this ISP is amazing,” said Endeavor co-founder and CEO Linda Rottenberg. “From mining services in Chile to transistor testing equipment in Malaysia, our network of high-impact entrepreneurs are truly innovating industries and transforming economies worldwide.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized world-class services, 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 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 one more International Selection Panel in 2014 located in Miami, FL.

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

CHILE

Entrepreneur(s): Mario Flores
Company: Innovators Conveyer Belt
Conveyer belts are to mines what arteries are to the human body. As the main means of transport for minerals, losses of up to US$5 million per hour can be incurred when belts are deactivated for routine maintenance or replacement. Innovators reduces maintenance time for conveyer belts by 60% by minimizing the amount of equipment and personnel required in the process – saving mines millions of dollars per hour. The company developed a proprietary machine and repair method that turns the conventional repair process upside down (literally) by cutting and replacing the belt from below, as is the standard.

Entrepreneur(s): Gustavo Montero, Elvira Montero
Company: Imaginex
Many small businesses in Latin America do not have the budget or technical knkow how to purchase advanced enterprise software solutions, and rely instead on inefficient processes and basic spreadsheets to manage operations. Imaginex’s cloud-based, user-friendly operational management helps SMEs improve procurement and sales processes. Its main product, Bsale, has a special feature to expedite a lengthy online tax certification process and help companies submit electronic tax receipts in compliance with new regulation. As one of only two companies in Chile able to certify companies for electronic invoicing in just two days, Imaginex saves clients from allocating extensive resources to a mandatory but burdensome process.

COLOMBIA

Entrepreneur(s): Sebastian Obregan, Danel Pelaez, Sebastian Molina
Company: Enmedio
In a tech-enabled world, static displays no longer engages a population accustomed to dynamic media. Enmedio is a digital signage company responding to the digital revolution with dynamic displays that deliver the right message to the right people at the right time and place. Digital signage is one of the fastest growing communication mediums in the world. Still nascent technology in Colombia, digital signage can change the way businesses communicate. With the largest digital signage coverage in the country, Enmedio will help accelerate the process of digitizing the physical world.

Entrepreneur(s): Hans Christian Boehlke, Carl Petter Boehlke, Alfredo Angel
Company: Aldeamo
Hans Christian Boehlke, Carl Petter Boehlke, and Alfredo Angel are creating aldeas móviles (“mobile villages”) all over the world. Aldeamo is helping customers communicate using any type of mobile phone (e.g. feature and smart) without having to use data or an Internet connection. Through established partnerships with 25 Mobile Network Operators (MNOs), Aldeamo connects audiences with shared interests and delivers targeted content to its users through a B2C subscription model that charges the end-user directly through its carrier billing. Aldeamo also provides mobile solutions to public and private entities through a B2B model, currently available in Colombia, Guatemala, Honduras, and Peru, This model consists of the following services: (i) Intelligent SMS, a two way communication system between entities and their clients or employees; and (ii) Imenus, a way to connect directly to information systems from any mobile phone, without using data.

EGYPT

Entrepreneur(s): Ahmed Badr, Amir Barsoum
Company: DrBridge
Few experiences transcend cultural boundaries the way a doctor’s visit does: neglected file cabinets overflowing with outdated patient records, cramped waiting rooms groaning with overcapacity, and overworked, baggy-eyed doctors burdened with frivolous administrative tasks. The health care system has reached an unparalleled level of inefficiency in Egypt, which spends 1% more of its GDP on health care than the average Middle East country, but has a life expectancy five years lower. DrBridge believes in the power of technology to overcome these inefficiencies. By delivering an end-to-end operations platform for doctors, patients, and pharmaceutical companies, DrBridge is ushering the technophobic medical profession into the digital era.

Entrepreneur(s): Mohamed Abbas, Dina Aly, Majd El Sherif
Company: Matter
Matter is a branding firm based in Cairo, Egypt. The agency came on the scene during the Egyptian Revolution in 2011, proving that their consistent and tried methodology was competitive with international firms. In 2013, the company was the first local brand agency in the Middle East to win a Dieline Packaging Award, a worldwide competition devoted to the art of consumer package design. As one of the first local agencies devoted entirely to branding, Matter has recruited top talent and secured local and international clients. In the last 10 months, the company grew its client base by 120%.

Entrepreneur(s): Laila Sedky, Adel Sedky
Company: NOLA Bakery
NOLA offers customers trendy affordable luxuries through its wide variety of freshly-baked delicious desserts that are new to the Egyptian market. NOLA focuses on the customer experience, providing a sophisticated yet cheerful setting with top customer service. For a customer, stepping into a NOLA store should be like strolling into a French bakery in Paris, with tantalizing aromas and smiling faces greeting the customer as they walk through the door. Currently, NOLA’s main product lines revolve around cupcakes in a range of flavors although it recently expanded its offering into other dessert categories like the cronut, cheesecakes, and NOLA cakes.

GREECE

Entrepreneur(s): Dimitris Koutsolioutsos
Company: Farmer’s Republic
New York has the Union Square Market, London has Borough Market and now Greece has Farmers Republic! In a time when Greece’s Central Market is widely criticized for its relationship with farmers and quality of produce, Farmers Republic has created a disruptive physical and virtual market place—giving farmers agency over their sales with better margins and consumers higher quality certified produce. Farmers Republic is a fair-farming enterprise offering its consumers the ability to enjoy fresh produce directly from small-scale, certified producers, through its open air markets, online store, grocery store and monthly delivery service. Farmers Republic has built a superior reputation compared to other grocery stores and markets through authentically connecting with both its supplier and consumers: the farmers know that Farmers Republic will always be reliable and reasonably priced while consumers can trust that the produce will be of a certain standard through its rigorous certification process.

Entrepreneur(s): Odysseas Ntotsikas
Company: Think Digital Group
Many publishers fill their sites with underpriced advertisements and are pushed aside as advertisers opt for international competitors with huge reach and technological prowess (Facebook, Twitter, etc.). Meanwhile, advertisers struggle to efficiently find the publishers that will maximize value for their ad-spend with a relevant audience and gripping content. Think Digital Group (TDG) connects publishers with advertisers through its publisher network and ad-exchange. As a publisher network, TDG acts as an outsourced salesforce for publishers, semi-manually finding the right advertisers at the right price. Its recently launched ad-exchange, Project Agora,allows advertisers to bid on bundles of ad-space segmented by different audience groups. TDG now counts some of Greece and Romania’s largest publishers among its clients, and as it expands into new markets. Seeking to change how advertising is done across Southeast and Centrel Europe, as well as MENA, Think Digital is thinking big.

Entrepreneur(s): George Voulgaroudis, Dimitris Dimitriadis
Company: Brainbox
Through its automated bike-sharing system, Brainbox offers an efficient and cost effective alternative to vehicular transportation. Bike-sharing combines the convenience and flexibility of a private vehicle with the accessibility and reliability of public mass transit without the obligation of owning a bicycle. With installations across Greece, Cyprus, and Poland, last year alone, individuals cycled nearly a million miles, saving more than 150 tons of carbon dioxide, the equivalent of consuming 17,000 gallons of gasoline.

INDONESIA

Entrepreneur(s): Hanifa Ambadar
Company: Female Daily Network
Female Daily Network (FDN) helps Indonesian women look and feel beautiful. Its primary portal, FemaleDaily.com, provides beauty related content to help women navigate an industry with more available products than any other retail vertical. Its customer product reviews, tip-filled articles, and video tutorials help women become beauty aficionados able to navigate countless options for makeup, skincare, treatments, and trends. The parallel portal for mothers, MommiesDaily.com, attracts FemaleDaily.com visitors as they move through new stages of life. Together, the sites create a cohesive online community that facilitates peer-to-peer connections over shared passions and concerns.

Entrepreneur(s): Bede Moore, Susie Sugden
Company: Vela Asia
Vela Asia offers a suite of end-to-end ecommerce solutions to brick-and-mortar retailers in Indonesia and international brands trying to navigate the nuances of the Indonesian market. Vela delivers the expertise and infrastructure to bring its clients online throughout the ecommerce value chain from digital marketing to warehousing and fulfillment. As a boot-strapped startup, Vela generates additional revenue through modules aimed at a particular pain point along the value chain. The company also operates multi-brand portals under websites Kukuruyuk.com and Paraplou.com (Q4 2014e), which sell electronics and fashion products respectively. Vela aims to become Southeast Asia’s leading multi-platform ecommerce retailer. In the last six months, Vela Asia has grown by 160%, attracting well-known Indonesian and international brands as clients, including Indonesia’s leading shoe manufacturer Yongki Komaladi, global clothier Lee Cooper, and international footwear brand Havaianas.

JORDAN

Entrepreneur(s): Nasser Saleh
Company: Madfoo3atCom
Before Madfoo3atCom, the inconvenience of paying bills in Jordan was enough to make Jordanians wish they could buy back lost time. Jordanians went to the bank to withdraw money and traveled to each biller’s payment locations to physically deliver the money owed; rearranging their schedules to arrive during business hours and make time for lengthy queues. Meanwhile, billers incurred over 50% late payments and struggled to keep track of these cash payments. Madfoo3atCom, launched in June 2014, introduced a real-time bill presentment and payment system that enables the billers’ clients to inquire about and pay their bills via convenient and secure electronic channels 24/7. In 2013, the company secured an eight-year exclusive contract with the Central Bank of Jordan mandating that all 26 banks in the country process electronic payments through the company’s platform. Since launch, Madfoo3atCom averages 50 transactions per day, without any marketing. With plans for expansion in the region, the company is looking to average 125K transactions per day, grossing US$18.0M in revenues by 2017.

MALAYSIA

Entrepreneur(s): Sang Beng Ng
Company: Aemulus
Semiconductors are the electrical circuits that make any computerized device function — from cell phones, to jumbo jets, to rain sensors in cars. Before a semiconductor is placed in any cell phone or device, it must be rigorously tested through an expensive, time-consuming process in order to assure its compatibility with the device. Aemulus designs and produces semiconductor testers that reduce the overall cost of testing the semiconductors by upwards of 50% and perform 15-80% faster than competitors’ offerings. As a relatively recent market entrant with a unique relationship with its clients, Aemulus has excellent insight into the demands of the market and is agile enough to respond before its larger, more established competitors—taking away market share from multinationals such as National Instruments in Malaysia. Aemulus has had impressive growth and could be a shining example of a homegrown company that dares to compete with global giants on the basis of technological excellence.

MEXICO

Entrepreneur: Marco Polo Bautista
Company: Game Planet
Game Planet strives to make the process of buying games just as fun as playing them. It offers the easiest and most seamless buying experience for customers in Mexico. In addition to selecting from thousands of new titles and consoles, customers can trade in used-games and attend exclusive video game launch parties. For example, in 2011 Game Planet organized a launch party for Call of Duty Modern Warfare 2, a best-selling first-person shooter game. Partnering with Cinepolis, Mexico’s largest theater group, Game Planet allowed over 1,000 people to play the game before anybody else in the world at a movie theater prior to the game’s midnight launch and meet the game’s developers, who flew in from the US. Originally a vendor in a local bazaar, Game Planet now operates 91 stores and is the largest video game retailer in Mexico.

MIAMI

Entrepreneur(s): Ginny Simon, Steve Simon, Mike Simon
Company: ginnybakes
Eating healthy doesn’t mean eating poorly. Just ask Ginny Simon, her husband, Steve, and their son, Mike. They founded ginnybakes, a Miami-based company producing feel-good cookies, bake mixes, and health bars that have the added benefit of being organic and gluten-free. ginnybakes offers consumers outrageously delicious and healthy snacks baked with the highest quality ingredients. The ginnybakes team has leveraged close relationships with distributors in a fragmented and competitive market to sell its products in many large retailers like Whole Foods and Publix within the U.S. Its blend of premium-quality ingredients and complete ownership of the production cycle differentiates the company from its competition, as it can maintain fresh cookies while achieving economies of scale with integrated production facilities.

Entrepreneur(s): Scott Harris
Company: DeliverLean
DeliverLean has the recipe to maximize your health, your time, and your life. Many of us want to eat healthy but lack the time or energy to do so. Scott Harris (43) founded DeliverLean to empower customers to eat well and live healthy lives. DeliverLean prepares and distributes nutrient-dense, gourmet meals and sells cold pressed juices and raw vegan snacks at select retail locations nationwide. Named the eighth fastest growing Food & Beverage company in the U.S. in 2013 by Inc. Magazine, DeliverLean has ambitious plans to change the way the world think about and consume food. .

SAUDI ARABIA

Entrepreneur(s): Khalid al-Kudair
Company: Glowork
The glass ceiling in Saudi Arabia is quickly becoming a desert mirage. For women, the Saudi job market is one of the toughest in the world; only 30% of women are employed, but those who are unemployed are far from unqualified — 75% of them hold a college degree. Legislative restrictions on women’s ability to drive, coupled with social constraints around sharing personal information and CVs, engender a workforce employing only half of the country’s brainpower. Glowork is dedicated to creating equal opportunities for women by bridging the gap between employers and female jobseekers. Having placed 20,000 women in only jobs in three years, Glowork is leveraging its stellar brand reputation to launch into other business verticals where women are underserved, to shake up industries that have historically catered to men.

SPAIN

Entrepreneur(s): Salvador Carrillo, Alberto Benbunan
Company: Mobile Dreams Factory
Behind every swipe, tap and scroll on a mobile app lies an assembly line. This mobile assembly line first designs the user experience, then integrates the app with existing back-end software, then manages the mobile advertising, all before landing on a consumer’s screen. To manufacture this successful mobile strategy, clients go to the Mobile Dreams Factory (MDF), which provides end-to-end services to complete a client’s mobile transformation. With 27 mobile marketing awards, including the Gold Lion in Cannes, Eurobest, and the Gold IAB award, MDF has established itself as a leader in mobile solutions for a European m-commerce market that will exceed US$32B in 2014. Having secured premiere clients such as Burger King, eBay, and Vodafone and expanded into new geographies beyond Spain, the entrepreneurs behind MDF, Salvador Carrillo and Alberto Benbunan, are on their way to making their own mobile dreams come true.

TURKEY

Entrepreneur(s): Barbaros Serdar Özbugutu, Tahsin Isin
Company: Iyzico
With Iyzico, accepting online payments has never been easier. From obtaining contracts with banks to systemic fraud, Turkish companies, both large and small, struggle with online payments. Fortunately, Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market. Iyzico’s two API platforms connect 22 banks and payment companies with over 850 merchants, enabling merchants to accept online payments in the easiest and safest manner. Iyzico’s experienced team and local know how–from collective 33 years experience in the payment market to personally setting up all the contracts with the banks–enable it to offer a more sophisticated and adaptable platform than competitors in Turkey. While there are many global competitors in the online payment market—namely Stripe and World Pay—none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity.

Entrepreneur(s): Hande Cilingir, Serhat Soyouerel, Arda Koterin, Sinan Toktay
Company: Insider
E-commerce in Turkey and MENA is a gold-rush, and Insider is right there to sell the spade. As these geographies’ economies become increasingly digital, companies need the technical tools to mine ecommerce for its full potential. Insider sells cloud-based suites of ecommerce tools that enable clients to convert their visitors to customers. These tools include a behavioral targeting module that creates personalized campaigns for visitors, a module that incentivizes visitors to interact with a client on social media, and over a dozen other tools. Founded in 2012, the company has already attracted premiere clients in Turkey and abroad, such as Groupon, Avis, and Nine West.

Entrepreneur(s): Murat Sahin
Company: Secure Drive
Secure yourself some peace of mind and don’t drive yourself crazy finding airport transportation – leave that to Secure Drive. Too often in Turkey getting to the airport is as big a hassle as the trip itself. Taxis are expensive, public transportation is inconvenient, and illegal car services are unreliable. Established in 2005 by Murat Şahin (43), Secure Drive is the first company in Turkey to offer door-to-door shared shuttle rides to and from airports as well as ski and beach resorts. With a fleet of over 100 cars and operating in nine of Turkey’s largest cities, the company is already the third largest shuttle service in Europe. With Turkey emerging as a vital transportation hub — Istanbul’s new airport alone is expected to accommodate 150 million travelers in 2017 — Secure Drive is ready for lift off.

Entrepreneur(s): Ahmet M. Hançer, Burak Yücelyiğit
Company: Enocta
Through its flexible online platform and vast catalogue of off-the-shelf training content, Enocta provides clients with a convenient one-stop-shop for corporate training solutions. Over the last 13 years, Enocta has developed a breadth of top courses and informal learning methods to increase individual user engagement on the platform. Enocta’s SaaS platform is versatile which allows it to house a range of content be it Enocta’s proprietary courses, a client’s corporate training programs, or even a competitor’s solutions.

October 2014 Newsletter

OctNewsletterTo view Endeavor’s October newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

The Power of Scale-Ups: Harvard Business Review and the World Economic Forum Spotlight High-Impact Entrepreneurship

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Scale-up companies, defined by Endeavor Insight as companies more than three years old with a minimum of 20% average annual employment growth, have become a major force in transforming economies around the world. Bringing focus to the power of scale-ups, the Harvard Business Review recently featured an article co-authored by Endeavor President Fernando Fabre and Babson College professor Dan Isenberg emphasizing scale-ups, not start-ups, as the main drivers of economic change. The article takes a specific look at The Global Scale Up Declaration, an effort formed between top entrepreneurship influencers to offer a rallying point for the movement. Sign and share the Declaration at ScaleUpDeclaration.org and join the social conversation with #ScaleUpDeclaration.

In addition, a recent World Economic Forum report titled “The Bold Ones – High-Impact Entrepreneurs Who Transform Industries” takes an in-depth look at the power of high-impact entrepreneurs and their role in innovating industries worldwide. Drawing from surveys of entrepreneurs in EY’s Entrepreneur of the Year program as well as research from Endeavor, the report provides insight on how these entrepreneurs and their scale-up ventures accelerate access to new markets and become leading businesses that create high-value jobs.

In the HBR piece, Isenberg and Fabre emphasize that, despite the buzz around “startups”, the U.S. has experienced a decades long decline in entrepreneurship. Instead, more and more American companies are surviving and growing beyond 16 years. These growing businesses – known as “scale-ups” – represent the kind of long-term entrepreneurship that improves societies, jobs, quality of life, and innovation. Entrepreneurial scale-ups are companies – young or old – which are run and owned by growth-driven leaders, and which at any stage of their lives may launch a new growth trajectory. New startups are easier to count, but they alone don’t have the positive impact on economies that growing a company does. As a result, in advance of November’s Global Entrepreneurship Weekthe Declaration was developed in a coordinated effort to focus more of the entrepreneurship conversation on scale-ups and their positive impacts.

View the full HBR article by clicking here.

The WEF report found that the over 600 companies in the sample (1/10,000th of the total number of U.S. companies) have created over 160,000 jobs in just the last two years (nearly 1/20th of the total U.S. economy). These ventures have outperformed comparable financial indices by a substantial margin and have created significant wealth for owners, employees, and customers. In addition, the report features insights from Endeavor CEO and co-founder Linda Rottenberg, who is recognized as an early pioneer of the high-impact entrepreneurship movement.

Read and download the full report by clicking here.

The Global Scale Up Declaration – Join the #ScaleUpDeclaration Conversation

To accelerate and highlight the scale up conversation, with a group of entrepreneurship influencers, we have developed this Scale Up Declaration, which we offer as a rallying point for what the entrepreneurship discussion should focus on, and what that can accomplish. Sign and share the Declaration today!

September 2014 Newsletter

Sept2014News

To view Endeavor’s September newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

90+ Endeavor Entrepreneurs Participate in Week-Long Leadership Programs at Harvard and Stanford

In August, Endeavor partnered with Harvard Business School and Stanford University to organize a week of programming focused on leadership and management training for a select group of high-impact Endeavor Entrepreneurs. During the two programs, the entrepreneurs stayed on campus to engage in several days of guest lectures and discussion groups custom-designed by university faculty. The participants were given access to the world-class resources and expertise of each leading institution while also networking and sharing insights with their fellow entrepreneurs.

HBSHarvard’s “Scaling Entrepreneurial Ventures” Program took an in-depth approach to helping participating entrepreneurs identify opportunities for innovation and growth in their own businesses. Entrepreneurs from 13 Endeavor countries took courses with top HBS professors on topics ranging from sales and marketing to valuation and financing. The participants were also given assignments that called on them to evaluate their own ventures and integrate key learnings from the program. In addition, a pitch competition was organized to give the entrepreneurs a chance to collaborate and present their ideas to faculty and to one another.

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Stanford_logo-1Located in the heart of Silicon Valley, the leadership program at Stanford University drew from the best of Stanford GSB’s world-class faculty and network to help Endeavor Entrepreneurs learn to build leading companies in a competitive global marketplace. Participants from 11 Endeavor countries had the chance to develop core competencies that could help them transform their companies, manage ongoing growth and improve corporate culture. In addition, the program focused on helping the entrepreneurs identify opportunities and challenges to scale, using a discussion group format to address specific business challenges. The Stanford campus and the surrounding environment of Silicon Valley also provided an extraordinary setting with access to the area’s leading tech hubs. 

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31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City

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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.

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ISP Attendees at Barclays’ offices

ARGENTINA

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.

CHILE

Entrepreneurs: Matias Sjogren, Rafael Concha

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.

EGYPT

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.

Entrepreneurs: Rawiah Abdallah, Mostafa Saeed

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.

GREECE

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.

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CEO Linda Rottenberg moderating deliberations

INDONESIA

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.

JORDAN

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.

LEBANON

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.

MALAYSIA

Entrepreneurs:  Wai Hun See, John Lim, Naaman Lee

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.

MEXICO

Entrepreneurs: Tanya Moss, Eduardo Stolkin

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).

MIAMI

Entrepreneurs: Michael McCord, Michael Laas

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.

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Candidates’ Day at GLG Group

SAUDI ARABIA

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.

Entrepreneurs: Kaswara Al Khatib, Soraka Al Khatib

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.

SOUTH AFRICA

Entrepreneurs: Dave Evans, Grant Rushmere

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.

SPAIN

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.

TURKEY

Entrepreneurs: Başak Taşpınar Değim, Erol Değim

Company: Armut.com

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.

UAE

Entrepreneurs: Shahriar Khodjasteh, Shahin Khodjasteh

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.

August 2014 Newsletter

August News InstagramTo view Endeavor’s August newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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Argentina’s Globant Raises $59 Million on NYSE; Second-Ever U.S. IPO for an Endeavor Company

Globant

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.

Globant

Globant’s Nestor Nocetti, Guibert Englebienne, Martin Migoya, and Martin Umaran

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 GalperinNicolas 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.

Endeavor Expands Presence in Europe with the Launch of Endeavor Spain

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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.

July 2014 Newsletter

To view Endeavor’s JulyGala Icon newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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