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Conexred Entrepreneurs Buy Geelbe, the First Latin American Online Private Shopping Club

EntrepreneursImpact in Action May 16th, 2013 —

With this purchase, Endeavor Entrepreneurs Andrés Albán and Mauricio Hoyos demonstrate their commitment to bringing e-commerce to the base of the pyramid in Colombia.

Andrés Albán and Mauricio Hoyos were selected to be Endeavor Entrepreneurs in 2012 for their technology-based company, Conexred, which uses PUNTORED – its electronic network of more than 40,000 points-of-sale with coverage in 760 municipalities – to provide payment, collection, and distribution services for virtual goods.

Albán and Hoyos are now expanding their activities in Colombia with the purchase of Geelbe, the first Latin American online private shopping club. Geelbe was founded in Colombia in 2010 and has succeeded in transforming the business into a model for ecommerce in the country. For Albán, the Geelbe purchase is a strategic move for both companies: “We see an interesting growth dynamic in Colombian e-commerce and believe that part of that success involves effectively reaching the country’s unbanked population, which is estimated to be more than 40% of Colombia’s population. We believe that we can reach a greater number of customers by focusing on and structuring innovative credit and promotional tools, as well as new means of payment, to enable Geelbe to expand its customer base.”

According to Geelbe Colombia’s General Manager, Juan José Cabal: “This capitalization marks a milestone in Geelbe’s history. It was clear to us from the outset that we needed investors that had an entrepreneurial background so that they could use their business experience and best practices to accelerate the growth of our company.”

Serial entrepreneurs Andrés and Mauricio have not only been responsible for the exponential growth of Conexred, but also the growth of the companies in which they have invested: Brainwinner, a software development company, and Cellvoz, a pre-paid Internet telephony service provider. Exemplifying the multiplier effect of Endeavor in Colombia, the Conexred entrepreneurs continue to search for opportunities to invest in the tech sector, in the financial sector, and in high-impact, social enterprises that provide services or products to the base of the pyramid.

 

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President Obama meets with four Endeavor Mexico Entrepreneurs

EntrepreneursHighlightsImpact in ActionIn the News May 10th, 2013 —

Endeavor Mexico nominated four Endeavor Mexico Entrepreneurs to participate in a roundtable conversation on entrepreneurship with President Barack Obama during his visit to Mexico City in early May.

Over two days, President Obama met with President Peña Nieto on a range of issues that affect the nations’ relationship, including security, government reform, and the importance of job growth and entrepreneurship.  “I also want to work with the Mexican government,” President Obama said in a speech at the Anthropology Museum, “because I believe that the long-term solution to the challenge of illegal immigration is a growing and prosperous Mexico that creates more jobs and opportunities for young people here.”

During the roundtable conversation, Endeavor Mexico Entrepreneurs, Enrique Gómez Junco (Optima Energia), Alfredo Suárez (AliBio), Moís Cherem (Enova) and Gabriel Manjarrez (Micel) spoke with Obama and his team about the challenges and opportunities they face as entrepreneurs. They also praised the work Endeavor is doing to build support networks for entrepreneurs in Mexico and around the world.

“This event was really unique,” Enrique Gómez said. “It is the first time in our history that our governments focus their attentions in develop entrepreneurship as the main tool to help Mexico develop faster.”

 

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Enova CEO Wins Schwab Foundation Social Entrepreneur of the Year Award

EntrepreneursImpact in ActionIn the News April 25th, 2013 —

Endeavor Mexico Entrepreneur Mois Cherem was one of three winners of the 2013 Schwab Foundation Latin America Social Entrepreneur of the Year Awards. He received the honor yesterday in Lima, Peru, at the World Economic Forum on Latin America – in the presence of President Ollanta Moises Humala Tasso of Peru; President Ricardo Martinelli of Panama and President Enrique Peña Nieto of Mexico.

Mois is one of three founders of ENOVA, which designs, builds and operates small, cost-effective digital learning centers in Mexico, known as RIA (Red de Innovacion y Aprendizaje). Because of ENOVA’s advanced technologies and well-trained facilitators, RIA is the biggest network of digital education centers in Mexico, where only 13% of students graduate from college. With 70 centers, ENOVA has approximately 235,000 registered members and 9,000 new students per month. Mois and ENOVA was also featured in our “Impact is Endeavor” video.

 

 

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Endeavor Global Board Member Arif Naqvi Honored by Peace Organization

Impact in ActionIn the News April 24th, 2013 —

Arif Naqvi, Endeavor Global Board Member and Founder of The Abraaj Group, a leading private equity firm that invests in growth markets throughout Asia, Middle East, Africa, Turkey, Central Asia, and Latin America, was named the 2013 Oslo Business for Peace Honoree. The Oslo Business for Peace Award is the highest form of recognition given to individual business leaders for fostering peace and stability through creating shared value between business and society.

Naqvi’s work in promoting responsible business practices by looking at the stakeholder, rather than exclusively the shareholder, is pioneering in the private equity industry, and The Abraaj Group devotes the time of its employees and resources to mentoring social, cultural and economic entrepreneurs. Abraaj and its employees have developed an important partnership with Endeavor over the past three years supporting dozens of entrepreneurs as well as Endeavor’s affiliate expansion throughout MENA and Southeast Asia.

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Endeavor Mexico’s Fairtrasa Expands in Europe

Impact in ActionIn the News April 18th, 2013 —


Last week, Endeavor Mexico company, Fairtrasa, which produces and distributes high-quality organic and fair trade fruits and vegetables, acquired an established organic trading company in Holland to increase its sales in Europe.

With this acquisition, Fairtrasa is becoming a leading organic and fair trade fruit supplier in the European market. This will enable it to keep growing its farmer network and increase its economic and social impact. The company will now be called Fairtrasa Holland B.V.

 

 

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Endeavor Brazil hosts Global Entrepreneurship Congress in Rio de Janeiro

EventsImpact in ActionIn the News March 29th, 2013 —

Last week, Endeavor Brazil welcomed non-profit executives, entrepreneurs, and policy makers from over 100 countries to the Global Entrepreneurship Congress in Rio de Janeiro.

The GEC is the main planning event for Global Entrepreneurship Week, a celebration and promotion of entrepreneurship that takes place each November in 115+ countries around the world. During GEW, NGOs, universities, and corporations host events that are designed to build their countries’ entrepreneurial ecosystems and to raise awareness of entrepreneurship as a viable career option. GEW was launched in 2008 by former Kauffman Foundation President Carl Schramm. Since that time several Endeavor affiliates have served as GEW lead delegates, planning events and recruiting partner organizations.

Each March, these lead delegates come together for the Global Entrepreneurship Congress, where they discuss best practices for planning GEW and for supporting entrepreneurship in their local markets. Past Global Entrepreneurship Congresses have taken place in Liverpool, Shanghai, Dubai, and Kansas City. This year, as lead host of the GEC, Endeavor Brazil managed all conference logistics, including fundraising and speaker recruitment.

Over the conference’s four days, attendees had the opportunity to hear from global policy and entrepreneurship experts including Endeavor executives and entrepreneurs.

Linda Rottenberg, Endeavor’s co-founder & CEO, moderated a panel discussion on the challenges of scaling a start-up to become a global player.  She was joined by Endeavor Entrepreneur Hernán Kazah, Co-Founder, MercadoLibre.com and Co-Founder, Kaszek Ventures; Dave McClure, Founding General Partner, 500 Startups; and Alexandre Hohagen, VP of Sales, Facebook LatAm and former LatAm Managing Director, Google. Hernán, Dave, and Alexandre spoke about the challenges of building a company in growth markets like Brazil, the importance of founders developing the skill sets needed to run large organizations, and best practices for hiring talent.

Linda also delivered- to a packed audience- an “Endeavor Day One Talk” about the moments that forever changed her path as an entrepreneur. Linda’s “Day Ones” included the day when, as an Ashoka fellow in Argentina in the late 90s, she had her “eureka moment” and first thought up the Endeavor model; the day when Argentina business tycoon Eduardo Elsztain agreed to fund the launch of Endeavor’s first office in Buenos Aires; the day when Endeavor Global Board Chairman Edgar Bronfman, Jr. pushed Linda to ratchet Endeavor’s global presence up to 25 countries by 2015; and finally, the day when she realized that in order for Endeavor to lead a global high-impact entrepreneurship movement, she needed to hire senior leaders, thereby  transforming her team from a rock star into a rock band.

Throughout these experiences, she stuck to one basic belief: crazy is a compliment. In fact, Linda told the audience, “If you’re not being called crazy, then you’re probably not thinking big enough.”

In addition to Linda, GEC attendees heard “Endeavor Day One Talks” from Endeavor Entrepreneur Edivan Costa, Founder, SEDI; Brad Feld, Managing Director, Foundry Group; and Luciano Huck, TV star, entrepreneur, and the first Brazilian to garner one million twitter followers.

After four days at the beautiful Lagoon in Rio,  the GEC ended with a celebration on Sugar Loaf Mountain that was catered by Endeavor Brazil company Spoleto.

 

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Endeavor Chile company ComparaOnline.com signs strategic alliance with Buscapé Group

EntrepreneursImpact in ActionIn the News March 26th, 2013 —

Endeavor Chile company ComparaOnline.com, Latin America’s main comparison site for financial products and insurance, recently signed a strategic alliance with Buscapé, founded by Endeavor Brazil Board Member Romero Rodrigues. ComparaOnline.com will acquire Buscape’s financial and insurance oriented brand, Corta Contas.com.br.

Since its launch in 1999, Buscapé has emerged as Brazil’s E-Commerce leader, connecting customers to the products and services of retail companies, financial market and advertising agencies, distributors, and consumer good providers. Under this agreement, Buscapé will join the ComparaOnline board of directors. The companies expect a complete human resource and product merge by the end of the year.

“We’re very excited with this association. ComparaOnline.com is the best operator in this segment in the region, and has been adding a great amount of value to its customers through the efficiencies it generates,” said Romero Rodrigues, CEO and founder of the Buscapé Group.

This alliance is the latest in a string of achievements for ComparaOnline.com. Sebastián Valin Acuña founded the company in 2009 and was selected as an Endeavor Entrepreneur in 2012. That same year, ComparaOnline.com received funding from Kaszek Ventures, a leading LatAm Venture Capital firm founded by two MercadoLibre alums: co-founder & Endeavor Argentina Entrepreneur Hernán Kazah and former CFO & Endeavor Global Board Member Nicolás Szekasy. Today, ComparaOnline.com employs over 90 people and is empowering customers to make informed decisions about insurance products and rates. Valin Acuña hopes to one day take the company public on the NASDAQ.

“We are convinced that together both companies will offer the best service in the industry to both end users as well as insurance or financial companies,” he said. “Buscapé’s decision to form an alliance with us after an in depth market analysis confirms the leading position ComparaOnline has in Latin America.”

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Endeavor Entrepreneur Bedriye Hülya named Social Entrepreneur of the Year

EntrepreneursImpact in ActionIn the News March 20th, 2013 —

Endeavor Entrepreneur Bedriye Hülya was awarded Social Entrepreneur of the Year by the World Economic Forum’s Schwab Foundation. Her company, b-fit, is Turkey’s first national chain of women-only gyms.

The Schwab foundation recognizes and supports 24 social entrepreneurs each year for their innovation and global impact. In receiving this honor, Hülya joins the foundation’s network of 234 social entrepreneurs from 59 countries.  She is also invited to attend the 2014 World Economic Forum, where she will meet with political, academic, and business leaders from around the globe.

“Receiving awards like Schwab motivates us in our challenging emerging-market conditions,” said Hülya.

 Hülya’s efforts have helped 25,000 women to collectively lose over 15 tons. With over 160,000 gym members at 220 gyms around the country, staffed by over 500 female employees, b-fit is a platform for the empowerment of women through exercise and education. Hülya has also enabled hundreds of women to own b-fit franchises and thus become entrepreneurs in their own right.

“Although b-fit is sometimes considered discriminative because of its women-only model, we believe that in order to close the huge gender gap in countries like Turkey, where there are neither quotas nor positive discrimination policies for women, we have to provide specific tools focusing on women’s development,” Hülya said.

Since selecting Hülya as an entrepreneur in 2009, Endeavor Turkey has helped her resolve licensing issues, execute a franchise financing strategy, and properly structure financial outsourcing and reporting. B-fit plans to expand throughout the country with the ultimate goal of having one b-fit gym in every Turkish neighborhood.

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Endeavor and Ernst & Young share best practices for corporate volunteers in Stanford Social Innovation Review

Expert AdviceImpact in ActionIn the News March 10th, 2013 —

Endeavor CEO and Co-Founder Linda Rottenberg was published in the 10th Anniversary Issue of the Stanford Social Innovation Review. The article, focusing on best practices in corporate volunteer programs, was co-authored with Deborah K. Holmes, the Americas director of corporate responsibility for Ernst & Young.

“‘Resilient dynamism’—confronting adaptive challenges and turning them into transformational change—was the theme of this year’s World Economic Forum,” Rottenberg and Holmes write. “We believe one way to encourage this concept within emerging economies, inside leading businesses, and among young professionals is through well-designed international corporate volunteerism (ICV) programs.”

Endeavor and Ernst & Young have collaborated since 2006 on the Americas Corporate Responsibility (CR) Fellows program, which gives Ernst & Young’s top-performing, mid-career professionals an opportunity to assist high-impact entrepreneurs in Latin America for seven weeks. The program benefits both the entrepreneurs and CR Fellows.

As more and more leading companies are launching Volunteer programs, Rottenberg and Holmes put together six tips for designing a successful program:

“Focus money and time on the issues you understand.”

“Look for surprising connections, and find the right partner.”

“Look for the big change.”

“Create a context in which resilient dynamism can thrive.”

“Enter places that show promise.”

“Expect the change to be permanent.”

Read the article here.

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New York Times’ Thomas Friedman Cites Endeavor Mexico Companies As Part of “Just Do It” Generation

EntrepreneursHighlightsImpact in ActionIn the NewsVoices March 4th, 2013 —

During a recent visit to Mexico, New York Times’ columnist Thomas Friedman spent time visiting with Endeavor Mexico MD Pilar Aguilar and a number of Endeavor Entrepreneurs. These visits strongly influenced a column he went on to publish about the positive side of things in Mexico. Friedman writes that the country continues to have many challenges but that there is great hope in “what Mexico is doing right.” Friedman turned to examples of innovative entrepreneurs he met in Monterey and explained that these individuals have chosen to pursue their dreams and build successful companies despite a seemingly difficult environment. Among them were Arturo Galvan of Naranya, Patricio Zambrano of Alivio (a spin-off company of Imagen Dental) and Raul Maldonado of Enova.

The complete column is available on the New York Times’ website here.

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