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HBS professor and Endeavor Global Network member William Sahlman transforms leaders into entrepreneurs

In the NewsResearch June 22nd, 2011 — admin

Harvard Business School professor, Endeavor Global Network member, and Endeavor Global Advisory Board Emeritus member William Sahlman shared his strategies for transforming future business leaders into entrepreneurs in a recent Forbes article. Through case studies in his Entrepreneurial Finance class, Sahlman teaches students about what he considers to be the core concepts of entrepreneurship:

• Finding an opportunity
• Marshalling the resources needed to capture the opportunity
• Executing
• Exiting

Of course, nothing is ever as simple as it sounds, but Sahlman emphasizes that he wants students to understand that entrepreneurship is a process they can (and should) learn. Sahlman invites the subjects of the case studies to join his classes and answer students’ questions, hoping that exploring entrepreneurial sucesses and failures will help students envision themselves managing like an entrepreneur.

Over the years Sahlman has been a leading advocate for High-Impact Entrepreneurship, co-authoring and teaching three Harvard Business School case studies about Endeavor: “The Endeavor Initiative” (2001); “Endeavor—Determining a Growth Strategy” (2003); and “Endeavor: Creating a Global Movement for High-Impact Entrepreneurship” (2009).

Recently, he also moderated a panel on global entrepreneurship and venture capital’s role in emerging markets, in which Endeavor’s Co-founder and CEO Linda Rottenberg participated.

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Linda Rottenberg discusses Endeavor’s experience and future in Latin America

In the NewsVoices June 17th, 2011 — admin

Recently the magazine Alternative Latin Investor interviewed Endeavor CEO & Co-Founder Linda Rottenberg. Click HERE to read the full article [note: requires free registration].

In the interview, Linda discusses her motivation for starting Endeavor, and what Endeavor has done for those trying to start businesses in Latin America. She notes:

“Before Endeavor the word entrepreneurship was not in the dictionary in Portuguese, Spanish or Arabic. Endeavor Entrepreneurs did not know they were entrepreneurs until they entered the Endeavor Search & Selection process. We’ve come far in thirteen years since the Argentine taxi cab driver with a PHD in physics inquired ‘How can I possibly start my own company when I don’t even have a garage?’”

In sharing her expertise, Linda notes the particular importance of High-Impact Entrepreneurship: “Historically in most economies it is only a small number of high-impact, high-growth entrepreneurs that create the vast majority of new jobs.” From there she describes how Endeavor tailors its efforts to supporting truly promising companies that think BIG as well as its continuing role in supporting High-Impact Entrepreneurs in Latin America by providing access to mentors, networks and role models.

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Endeavor Mentor of 2011 (Global) nominees announced

In the News June 17th, 2011 — admin

Congratulations to the 12 nominees for Endeavor Mentor of 2011 (Global), to be revealed at our Endeavor Entrepreneur Summit later this month! The list of nominees reflect some of those Endeavor Network Members –- based in the United States or Europe –- who have best embodied the spirit of Endeavor and had the highest impact over the past 12 months through a combination of mentoring Endeavor Entrepreneurs, participating in the network, and supporting and guiding Endeavor’s continued growth. A big congratulations to all the nominees.

Mike Ahearn (Phoenix)
Managing Partner, True North Venture Partners
Endeavor Global Board Member

Mike Ahearn is Managing Partner at True North Venture Partners, a venture capital company that invests in early stage innovative businesses addressing some of the world’s most challenging problems in areas such as energy, water, agriculture and waste. He also serves as Chairman of the Board of First Solar, where he served as CEO from 2000 to 2009. Mike serves on Endeavor’s Global Board of Directors and as a mentor to Enrique Gómez Junco of Optima Energia (Mexico). This past year Mike spoke at Endeavor Mexico’s CEO Summit. He has served as a panelist at International Selection Panels (ISPs) in Brazil, California and Mexico.

Gina Bianchini (Silicon Valley)
Founder & CEO, Untitled
Endeavor Global Advisory Board Member

Gina Bianchini is the Co-Founder and former CEO of Ning, the largest social platform for interests and passions in the world. She led Ning from its inception in 2004 to its current position as an exponentially growing top 100 global website with over 46 million members and 90 million unique visitors per month. In March 2010, Gina left Ning to join Andreessen Horowitz as an Entrepreneur-in-Residence and is now starting a new company. Gina is a member of Endeavor’s Global Advisory Board, spoke at the California Tech Retreat, and served as a panelist at ISPs in Mexico and Turkey.

Juan Pablo Cappello (Miami)
Principal Shareholder, Greenberg Traurig LLP, PE & VC Latin America
Endeavor Global Advisory Board Member

Juan Pablo Cappello is senior partner at Greenberg Traurig, a Miami based international law firm. His practice focuses on financing transactions in emerging markets. Previously, he was the Executive VP, Corporate Secretary, and General Counsel of Patagon, an international financial institution with retail brokerage. Juan Pablo often speaks at international conferences on the structuring of international business transactions and cross-border investments. Juan Pablo was a Panelist at the ISP in Brazil, attended the Endeavor Chile Retiro and frequently meets with Endeavor Entrepreneurs visiting his hometown of Miami.

Wences Casares (Silicon Valley)
Co-CEO, Bling Nation
Endeavor Global Board Member; Endeavor Entrepreneur (Class of 1998)

Wences Casares is a true Endeavor success story, launching multiple successful ventures since being selected as an Endeavor Entrepreneur in 1998. He is currently co-CEO of Bling Nation, a mobile payments company based in Palo Alto. Wences serves on Endeavor’s Global Board of Directors, was a panelist at the California ISP, frequently mentors entrepreneurs from Latin America visiting Silicon Valley, and co-organized a trip of 50+ Silicon Valley founders, executives and investors to Brazil, Chile and Argentina in May 2011.

David Frazee (Silicon Valley)
Partner, K&L Gates LLP

David Frazee is a partner in the Palo Alto office of K&L Gates, where he represents innovative technology companies, entrepreneurs, and funds, helping them to succeed through the creation and execution of comprehensive international corporate, business, finance, and IP strategies. Using his experience as a former Silicon Valley startup entrepreneur, David has donated countless hours to mentoring Endeavor Entrepreneurs at all stages – including a self-designed week-long mentoring trip to Argentina and Uruguay in April 2011. He was a panelist at ISPs in South Africa, Mexico and London.

Matt Harris (New York)
Co-Founder & Managing General Partner, Village Ventures

Matt Harris is the co-founder and Managing General Partner of Village Ventures, an early stage venture capital firm with over $175m under management. Matt left Bain Capital in 1997 to become the founding Managing Director of The Berkshires Capital Investors, a venture capital fund associated with Williams College. Under Matt’s leadership, BCI’s first fund of $5 million invested in 12 companies, with eight successful exits to date. Matt has mentored Fatih Işbecer from Pozitron (Turkey) and was a panelist at ISPs in Egypt and London.

Shari Loessberg (Boston)
Entrepreneurship Faculty, MIT Sloan School of Management

Shari Loessberg is an experienced entrepreneur with expertise in emerging markets. Since 1999, she has taught at the MIT Sloan School of Management about venture capital and emerging market entrepreneurship, including leading MIT’s Global Entrepreneurship Lab (G-Lab), a key partner for Endeavor’s Entrepreneur Services. Outside of MIT, Shari founded and runs Big World, which focuses on startups in the financial services sector in emerging markets. Shari serves as a director of National Financial Partners and several tech start-ups. Shari is quite active with Endeavor through the G-Lab program, spoke at the inaugural Endeavor Investor Network event in Brazil, and was a panelist at ISPs in Egypt and Mexico.

John McIntire (New York)
Principal, Nexstar Capital Partners & Chairman, Open English
Endeavor Global Advisory Board Member

John McIntire is a Principal of Nexstar Capital Partners, a New York-based fund focused on Latin American credit and private equity. He retired in 2004 as a Partner at Goldman Sachs, where he spent 12 years focused on Latin America. During his last four years he led all of the Latin American activities of the firm, a portfolio of financial businesses with over $400 million in revenue. Prior to Goldman, John spent seven years at Credit Suisse/First Boston and five years at Chase Manhattan Bank. John serves as the Chairman of Open English, an online English teaching venture targeting the Spanish-speaking world. He is a member of the Council of the Americas and is active in policy initiatives and humanitarian work benefitting his native Cuba. John is a member of the Executive Committee of Endeavor’s Global Advisory Board and served as a Panelist at ISPs in Brazil and Mexico.

Roberto Muller (New York)
CEO & Founder, The Muller Sports Group

Recognized as one of the most innovative and successful leaders in sports, media, and product marketing, Roberto Muller created and was the first CEO of Pan-American Sports Network, which became Latin America’s most watched cable sports network. Previously, Roberto was the president of Reebok and was instrumental in taking the company from a women’s fitness brand to a worldwide diversified performance sports brand. Prior to Reebok, he founded PONY Sports and Leisure, developing products for professional athletes. He has been a mentor to Oscar Fuenzalida & Ricardo Duch from Doggis (Chile) and participated in the Entrepreneurship and Competitiveness in Latin America (ECLA) program put on by Endeavor and Columbia Business School in New York City.

Diego Piacentini (Seattle)
Senior Vice President – International, Amazon.com
Endeavor Global Advisory Board Member

Diego Piacentini has served as Senior Vice President International since joining Amazon.com in February 2000 and is a member of the Amazon executive team; he is responsible for all international retail operations. Previously, Diego was Vice President and General Manager of Apple Computer Europe. An Italian national, he has traveled and worked extensively across Europe, Asia, and North America. A member of Endeavor’s Global Advisory Board, Diego has mentored over a dozen Endeavor Entrepreneurs, including frequent sessions with the founders of Betazeta (Chile) and Minha Vida (Brazil).
He has spoken at Endeavor events in several countries and was a panelist at ISPs in Chile, Brazil and London.

Ariel Poler (San Francisco)
Angel Investor

Ariel is a serial entrepreneur and angel investor. He is currently the CEO of TextMarks, and has been involved with a number of successful internet start-ups, including roles as founder and CEO of Topica, founding board member of Kana Software and founding Chairman of LinkExchange. Ariel currently serves on the board of directors of Bills.com, LOLapps and SpeedDate. He was a speaker at Endeavor’s California Tech Retreat, a mentor to the founders of Arizona (Brazil), part of the Mentor Capital Program (MCP) and a panelist at the ISP in California. Ariel frequently meets for mentoring breakfasts with Endeavor Entrepreneurs visiting San Francisco.

Joanna Rees (San Francisco)
Founder & Managing Partner, VSP Capital
Endeavor Global Board Member

Joanna Rees is a candidate for mayor of San Francisco. She is the Founder and Managing Partner of VSP Capital, where she raised and managed more than $400 million. Joanna focuses on consumer technology and marketing software & services investments. She currently serves on the Board of Directors of Posit Science, Branders.com, AccountNow and QuinStreet. She has served on the board of more than 20 venture backed startup companies as well as numerous non-profits. In addition to managing investments, Joanna also serves as Chairman of the USA for Madrid-based FON, the world’s largest WiFi community. Joanna is an Adjunct Professor in the Leavey School of Business at Santa Clara University where she teaches Leadership. She is a member of Endeavor’s Global Board of Directors, was a panelist at ISPs in Egypt and Turkey, and graciously hosted the Endeavor California team for its first 18 months of operation at her San Francisco offices.

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Endeavor Mentor of 2011 (Emerging Markets) nominees announced

In the News June 16th, 2011 — admin

Congratulations to the nine nominees for the Endeavor Mentor of 2011 (Emerging Markets) Award, to be revealed at our Endeavor Entrepreneur Summit later this month! These nominations recognize some of the Endeavor network members –- based in the emerging markets where Endeavor operates –- who have most embodied the spirit of Endeavor and had the highest impact over the past 12 months through a combination of mentoring Endeavor Entrepreneurs, participating in the network, and supporting and guiding Endeavor’s continued growth. A big congratulations to all the nominees.

Nicolas Szekasy
MercadoLibre.com (Argentina)

Since helping take MercadoLibre.com (an Endeavor company) public as its CFO in 2009, Nicolas Szekasy has been supporting entrepreneurs in the internet startup space as an investor and board member. He is a member of the Endeavor Argentina board, an Entrepreneur Services Committee member, and a well-respected mentor, advising Endeavor Entrepreneurs on strategy definition and execution, general management, finance, M&A, and team building.

Edson Rigonatti
Astella Investimentos (Brazil)

Edson Rigonatti is one of the most engaged mentors for Endeavor Brazil, donating more than 60 hours in 2010. Not only does he have a close relationship with many of the entrepreneurs, he is also engaged in internal strategic discussions, especially in Search and Selection and Entrepreneur Services, helping to train the team, add structure to the departments and improve Endeavor Brazil’s services. Edson actively participates in Endeavor events and programs such as the Gala Dinner and CEO Summit, and has spoken at several workshops and classes in Brazil’s Outreach and Education programs. Edson is also one of the first Brazilian members of Endeavor’s recently launched Investor Network.

Eduardo Novoa
Novoa Inversiones (Chile)

Eduardo Novoa is an independent consultant and a Board Member for Soquimich & Mainstream Renewable Power. He has held positions in business development, corporate strategy, and asset management at a number of Chilean and multinational companies. Eduardo joined Endeavor Chile’s Advisory Board in 2007. He spends countless hours mentoring Endeavor Entrepreneurs and is one of the creators of the high impact “Endeavor (YPO) Forum”. In the months following the earthquake in Chile in 2010, Eduardo and a group of Endeavor Entrepreneurs and Venturecorps members raised over US$1 million to support the reconstruction of the area, by far the most important social impact achieved in the history of Endeavor Chile.

Diego Garzon
Azurian (Colombia)

Diego Garzon is a partner at Azurian, a regional IT consulting firm. In 2010, Diego donated more than 80 hours to Endeavor Colombia, assisting with Search and Selection and Entrepreneur Services. Diego has been particularly committed to supporting Endeavor Entrepreneur Felipe Vergara of Lumni, leading meetings of the company’s technology advisory committee twice a month, and even traveling to Mexico to support Lumni’s expansion and growth.

Marianne Hesni
Hesni Group (Egypt)

Marianne Hesni is CFO of the Hesni Group, one of the leading companies in Egypt’s textile industry, and a long time Endeavor mentor. She recently became the first member of the country’s VentureCorps to join the Board of Endeavor Egypt. She is an active participant in local panels, roundtables, and events and is planning on attending the upcoming International Selection Panel (ISP) in Jordan.

Julio Gutiérrez
Grupo Metiz (Mexico)

In 2010, Julio donated 128 hours to Endeavor Mexico, more than any other Endeavor Mexico mentor. In addition to being a member of Endeavor Mexico’s Advisory Board, he serves on the advisory boards of four Endeavor Entrepreneur companies: Grupo MYT; Procesa Chiapas; Maskota; and Chilim Balam. He was a panelist at the International Selection Panel (ISP) in Chile and has offered his time in 46 Second Opinion Reviews and Mentoring Sessions since 2009. He is Endeavor Mexico’s Mentor of the Year for 2010.

Tanya Petzer
Engineer Your Tomorrow (South Africa)

Engineer Your Tomorrow (EYT) is a Talent Management and Organizational Culture Consultancy that has facilitated HR Peer Mentorship Sessions for Endeavor companies in South Africa. Tanya Petzer, a partner at EYT, has played a key role in facilitating these meetings since November 2009. With her guidance, HR professionals have found ways to engage with top management at their firms to bring HR to the forefront in important decisions. Endeavor Entrepreneurs have highlighted Tanya’s leadership in these meetings, which have allowed directors to engage in a dialogue about challenges they are facing at their respective firms. They have praised Tanya for helping them link HR-related issues to the core values and objectives of their overall business.

Ziya Boyacigiller
Angel Investor (Turkey)

Ziya Boyacigiller is an entrepreneur and investor who makes early-stage investments in technology start-ups—in Silicon Valley and Istanbul—and works with founding teams to help them grow their companies. He lectures MBA students on Entrepreneurship at Sabanci University in Istanbul. Ziya is currently on the advisory boards of three Endeavor companies in Turkey. Has been coaching the Endeavor Turkey team on developing a new TV program and can be found in their office every other week, meeting with entrepreneurs or with the staff. He is a nationally recognized entrepreneur and entrepreneurship advocate.

Andrés Cerisola
Ferrere (Uruguay)

Andrés Cerisola is partner of Ferrere, one of the most important Uruguayan lawyers’ groups. He has been a member of Endeavor Uruguay’s Board of Directors since 2007 and is very committed to Endeavor’s mission. In 2010, he donated many hours as a mentor in his home country, and actively participated in the most recent International Selection Panels (ISPs) in Mexico and London, representing Endeavor Uruguay and its entrepreneurs.

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Endeavor Entrepreneur of 2011 nominees announced

EntrepreneursIn the News June 16th, 2011 — admin

Congratulations to the nine entrepreneurs nominated for our Endeavor Entrepreneur of 2011 Award, to be revealed at our Endeavor Entrepreneur Summit later this month! These nominations recognize some of the Endeavor Entrepreneurs who have most embodied the spirit of Endeavor and had the highest impact over the past 12 months through a combination of growing his/her company, participating in the network, and giving back to Endeavor.

Rodolfo Montes de Oca and Patricio Miranda
Zott Producciones (Argentina)

The brainchild of childhood friends Rodolfo and Patricio, Zott Producciones exports innovative high-quality corporate promotional products to more than 40 countries. Zott has produced over 100 million products while building a reputation for efficiency, quality, and social responsibility. Zott generates $25 million in revenues and has more than 120 employees. Patricio and Rodolfo have given back to Endeavor in time and in-kind, speaking at conferences, participating in the selection process, and printing Endeavor Argentina’s annual Impact Reports free of charge.

Leila Velez
Beleza Natural (Brazil)

Leila and her co-founder opened the first Beleza Natural salon in 1993, aiming to give underserved women an affordable way to feel “naturally beautiful.” The franchise currently includes 26 salons in Rio de Janeiro and São Paulo. Beleza Natural has also developed a line of hair care products, operates a cosmetic research lab and maintains partnerships with several universities. Since selection by Endeavor, Beleza Natural has increased employment by 214%. The company is in the top 5 Endeavor Brazil companies in terms of revenue and has excellent market foresight, targeting the fastest growing segment of the population in Brazil. Leila has helped Endeavor Brazil at several events, including the Endeavor Entrepreneur Annual Retreat, Gala Dinner, CEO Summit (which she attended as a speaker), and the Entrepreneurship and Competitiveness in Latin America program. She is also a columnist for Endeavor Brazil’s website and was one of the first entrepreneurs to teach in their education program.

Juan Carlos de la Llera
SIRVE (Chile)

SIRVE designs, produces and implements devices that protect structures from damage caused by earthquakes. When SIRVE-equipped buildings withstood the fifth-strongest earthquake ever recorded, SIRVE’s projects tripled. Today, the company is ready to capitalize on the estimated US$300 million seismic protection devices and services market. SIRVE’s significant investment in R&D and its ability to both develop and implement superior technology at a lower cost separates it from its competition. Juan Carlos has been a role model to an entire generation of engineers and entrepreneurs, showing how excellence in creating a better and safer environment is rewarded in the business world.

Kenneth Mendiwelson
Refinancia (Colombia)

Kenneth has developed an innovative approach to Colombia’s Non-Performing Loan (NPL) market, buying NPLs from banks and implementing a unique program for loan collection to treat debtors as respected clients instead of “defaulted loans.” Kenneth has already built a client base of more than 250,000 individuals. The company continues to make a significant social impact in Colombia, a country with almost no history of debt markets and very limited individual access to credit. Kenneth has not only focused on his company’s growth, but also on being an Ambassador for Endeavor Colombia, participating in several events, donating time to the Search and Selection process, and contributing to the World Economic Forum Report “Global Entrepreneurship and Successful Growth Strategies of Early-Stage Companies.”

Amr Shady
T.A. Telecom (Egypt)

T.A. Telecom is positioned to become Middle East North Africa (MENA) region’s premier mobile platform for time- and location-specific content. It recently experienced tremendous growth thanks to an increase in the population’s interest to consume more information. Despite being only recently selected at the Mexico ISP, Amr Shady is very actively involved in Endeavor. He has attended multiple local and international events and is making good use of connections, services and mentorship. He is the first entrepreneur in Egypt to commit to the give-back program.

Mauricio Pariente and Alejandro Chaljub
Procesa Chiapas (Mexico)

Mauricio and Alejandro’s vision was to positively impact employment and wealth in Chiapas, one of the poorest regions in Mexico. In only three years, their company, which commercializes frozen foods and tuna in pouch packets, grew from 100 to 300 employees and more than doubled annual sales from US$7.3 million to US$15.6 million. Mauricio and Alejandro serve on the advisory boards of several other Endeavor Entrepreneurs’ companies and have helped Endeavor set up an office in Chiapas.

Natalie Killassy
Stitch Wise (South Africa)

Since 1997, Stitch Wise has been producing leading-edge safety equipment and protective clothing for mining and other hazardous industries, protecting mining workers from the accidents that crippled its employees in the past. With over half the workforce made up of paraplegic former miners, Natalie’s socially conscious business restores dignity to those whose lives have been forever changed by on-the-job accidents. Natalie was a 2009 Veuve Clicquot “Business Woman of the Year” and was honored as “Entrepreneur of the Year” at Endeavor’s annual Gala in New York City in 2009. She championed the idea of Entrepreneur “Give Back” before a formalized program was in place. She frequently donates her time and resources to the organization and serves on local selection panels.

Bülent Celebi
AirTies (Turkey)

Bülent founded AirTies in 2004 to develop, produce and market network and wireless modems and accessories for the residential and small business market in the Europe, Middle East and Africa (EMEA) region. Since being selected by Endeavor, company revenues have grown by 466%. AirTies continues to create R&D jobs in Turkey and set new standards for management practices and customer support services. An active network member, Bülent serves on the board of another Endeavor company and has participated as a speaker, panelist, search and selection interviewer and ambassador for Endeavor. He is a major supporter of the “Give Back” program and is always ready to share constructive feedback on how Endeavor Turkey can improve their service.

Gabriel Colla
Infocorp (Uruguay)

Gabriel Colla founded Infocorp at age 22 in 1994 and successfully grew his company at an average of 35% per year for the past seven years. Its products are present in more than 18 countries, and the company has offices in Puerto Rico, Chile, Mexico and Uruguay. In 2009 Gabriel hired a CEO for Infocorp, and transitioned from the role of CEO to that of President, focusing on strategic issues. Gabriel launched a second company, Lynkos, in 2010 together with Federico Cella, another Endeavor Entrepreneur. He donated more than 20 hours as mentor in 2010 and is a member of Endeavor Uruguay’s Board of Directors.

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Two Endeavor Entrepreneurs named “Women to Watch” by The Next Web

EntrepreneursIn the News June 14th, 2011 — admin

The Next Web, a top blog for tech news and business, has named two Endeavor entrepreneurs to their new list of “Latin American Start-ups: 10 Women to Watch.” The list comes on the heals of Rio de Janeiro’s recent Dell Women’s Entrepreneurs Network, which hosted several leading Latin women in the start-up scene. Profiles of the Endeavor-supported Entrepreneurs are reprinted from The Next Web below:

Julie McPherson is the co-founder and Director of New Business of Tiaxa, a company supported by Endeavor. An American, she met her Chilean husband while working at an investment bank in Chile in 1996. She then returned to the US and co-founded Tiaxa in 2000 with 5 associates. At the time, the company was based in Miami and focusing on services such as WAP portals and ringtones. It changed quite a lot since then: commercially headquartered in Santiago de Chile since 2002, it provides all kinds of data solutions to telcos, from billing infrastructure.

This shift reflects the growing importance of data in the operators’ revenues; its clients include Nextel, Vivo and America Movil. Tiaxa is mostly focusing on Latin America, where its main offices are currently located. It’s the area of expertise of its founders and an interesting one: text messaging took off earlier there than in the US. Julie is also based in Latin America; she came back to Santiago to open the local office. According to Julie, Tiaxa has been growing very fast lately and is one of Chile’s main tech exporters. Julie also supports other women entrepreneurs, thanks to the Impakta program initiated in Chile by women from the Endeavor network. Through tailored advice such as business mapping, it helps these female entrepreneurs to take their businesses to the next level.

Martha Debayle, a radio and TV anchor born in Nicaragua, raised in New York City and based Mexico, is the founder of media brand BBMundo (which translates as “Baby World”). Launched in 2000, it includes a web portal, a magazine, a radio program and a discount card. It targets future and current parents, particularly mothers. Its motto is “Because you can always be a better mom”. Since its selection by Endeavor in 2002, its revenues have grown as much as 1,000% thanks to partnerships with brands such as Johnson’s Baby and Nestlé SMA, according to the network’s website.

Martha Debayle is a celebrity in Mexico: to give you an idea, her recent wedding made it to the front page of popular magazine Quién. Last year, she was listed as one of the “10 most influential women in Mexico” by web portal De10, which belongs to Mexican newspaper El Universal.

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Turkish home décor brand ilio gains traction in high-end design world

EntrepreneursIn the News June 9th, 2011 — admin

Endeavor Entrepreneur brother and sister duo Demir and Mehtap Obuz have been making a splash in the international design world. Products from the pair’s recently launched home décor line ilio were showcased among other cutting edge designs at the International Contemporary Furniture Fair (ICFF) and in a limited edition MoMA design store collection, Destination: Istanbul.

The ICFF took place this past May in New York City and showcased 500 contemporary design brands from across the globe. Visitors to the ilio exhibit saw the line’s tableware, accessories and furniture collection and learned the stories behind the pieces.

The MoMa Store collection highlights emerging Istanbul designers in an effort to make available “lifestyle items usually found only in Turkey.” Click here to shop Destination: Istanbul, which features a number of award-winning ilio pieces, such as the forest-handmade crystalline stemware set designed by Demir and the kat kat storage system designed by Mehtap.

Demir and Mehtap are two of Endeavors newest entreprenuers, selected at the May 2011 London International Selection Panel. Mehtap founded Demirden, which she grew into one of Turkey’s leading design and brand management firms, almost two decades ago. Building on the success of Demirden, she and her brother launched ilio two years ago with the goal of achieving success outside Turkey’s borders. It seems like the two are well on their way!

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Financial Times looks at Argentinean investment culture, spotlighting Endeavor Entrepreneurs

EntrepreneursIn the News June 6th, 2011 — admin

The Financial Times, in a recent article, “Argentina has talent but a lack of investment cash,” discussed Argentina’s investment environment, the opportunities available to enterprising entrepreneurs, and the challenges in starting a new company.

According to the article, while Argentina has impressive talent, innovative thinkers, and an educated, relatively inexpensive workforce, access to start-up capital is difficult to come by. A lack of faith in the banking system and a historically unstable currency has resulted in a small stock market and limited trust in banks.

Endeavor Entrepreneur Jessica Trosman and other business owners note that while it’s not impossible to come by cash in Argentina, it’s more difficult to find investors who add value to the company. As a result, they often turn to international funding sources, which in turn creates other challenges.

“‘What hit me worst here was the crisis of 2009. Mine is a very international brand,’ [Trosman] says, sitting in the flagship store in an upmarket Buenos Aires shopping centre where once 60 per cent of her customers were tourists. Now it is 20 per cent. ‘I got to the stage when I couldn’t stand it any longer. I could keep things going, but I wanted to be able to focus on what I want to do,’ she says. That includes growing her brand abroad (she still oversees international strategy).”

Another Endeavor company, Globant, also looked internationally to grow its business.

Endeavor Entrepreneur and Globant co-founder Néstor Nocetti notes that the software developer and information technology company “saw a niche: running a business for US and UK clients, but from Argentina. That means competing with Indian outsourcers, but Argentina has time-zone advantages and comparable labour costs.” The article notes that Globant has been profitable from the start, mostly because their first client, EMC knew some of the founders, but still “took a leap of faith.”

Argentina has a talented, well-educated workforce. Referring to the fact that many Argentines are descendants of European business owners, Alejandro Mashad, Managing Director of Endeavor Argentina notes, “We have entrepreneurship in our veins.” He emphasizes that “accessing a network of contacts and finding mentors are crucial,” especially since there are so many barriers that entrepreneurs must overcome in Argentina.

While there are considerable challenges to starting a business in Argentina, there are new resources available. The article notes that the city of Buenos Aires has created a program to provide financial assistance to entrepreneurs. Additionally Staples, which bought OfficeNet from Endeavor Entrepreneurs Andy Freire and Santiago Bilinkis, has begun a support network and offers deals on office supplies for new ventures.

The article sums up by quoting an Argentinean entrepreneur who found he “could open a business in under a week in the US, but it took six months in Argentina. However, he says, ‘there are advantages too…There are great opportunities for those who [take the] risk.’”

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Endeavor June 2011 newsletter

In the News June 3rd, 2011 — admin

To view Endeavor’s June 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.

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New York Times features Endeavor firm Lumni

EntrepreneursIn the News May 31st, 2011 — admin

In a new opinion article on the New York Times blog, “Instead of Student Loans, Investing in Futures,” journalist David Bornstein questions “whether there may be a better way to pay for college than with scholarships, grants, and loans. Is it possible to finance higher education the way we finance startup companies?”

As an example of this approach, he profiles Lumni, a Colombia-based social enterprise run by Endeavor Entrepreneur Felipe Vergara, who was recently named the 2011 Latin American Social Entrepreneur by the World Economic Forum.

Bornstein points out that the organization has raised $17 million to fund the education of students across Latin America (Chile, Colombia, and Mexico) and the United States by offering “human capital contracts.” He uses the example of a Colombian student who, in exchange for his tuition fee of $8,500, agreed to repay Lumni 14 percent of his salary for 118 months after graduation.

Lumni has provided its unique form of financing to 1,900 students. As Bornstein points out, “fifty five percent of them are women and 90 percent are the first in their families to attend college…So far, the default rate is under 3 percent.”

Bornstein argues that Lumni offers a compelling model that, like insurance, spreads the risk among multiple parties while accomplishing steady returns. He concludes: “Economists are skeptical about human capital contracts — which were first proposed by Milton Friedman in the 1950s — because they have many potential problems and little track record. But Lumni seems to be making them work — at least on a small scale.”

“The most important asset in the world is people,” Felipe Vergara is quoted as saying. “But modern society hasn’t organized itself in a way to invest in most people. I like to think of Lumni as a springboard that allows people to pursue their dreams — it offers a way out of a situation where the ceiling is very close to your head.”

Also, check out Bornstein’s follow-up opinion piece which sheds further light on Lumni and human capital contracts, and responds to reader comments.

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