High-Impact Entrepreneurship

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Screen Shot 2014-11-12 at 2.56.28 PMThe 2013-2014 Endeavor Global Impact Report is now available. This year’s report features updated profiles on the global offices, vibrant new visuals of Endeavor’s impact, and highlights of key milestones from the past year.

View the digital report by clicking HERE and learn more about the ways in which high-impact entrepreneurship is transforming growth markets, supporting local economies and innovating for future generations.

A special thanks to Open for their great design work on this year’s report.

 

 

 

Endeavor Insight and the Partnership for New York City Release “The Power of Entrepreneur Networks” Study of Nearly 700 Industry Trailblazers

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Endeavor, with support from The Partnership for New York City and Barclays, released a report titled, “The Power of Entrepreneur Networks: How New York City Became the Role Model for Other Urban Tech Hubs” which identifies how founders who reinvest their success into others have greatly accelerated New York City’s tech growth.

“Endeavor has produced the first comprehensive analysis of the entrepreneurial ecosystem that has built Silicon Alley into a global center of innovation,” stated Kathryn Wylde, President & CEO of the Partnership for New York City.

“As companies become more successful, their founders are more likely to mentor, angel invest and become serial entrepreneurs. Companies that are connected to a top-performing company are twice as likely to become top-performers themselves,” said Fernando Fabre, President of Endeavor. “It’s a worldwide pattern that is an important building block for entrepreneurship.”

Over the past year, Endeavor conducted nearly 700 interviews with NYC tech entrepreneurs, combing through combined data from AngelList, Crunchbase and LinkedIn, with the aim of identifying lessons that leaders in other cities could use to support the growth of their own tech sectors. The study indicates that within the City’s tech sector, between 2003 and 2013: more than 2,200 companies were founded; there were 336 IPOs and acquisitions; $14.2 billion in investments and $18.1 billion in startup exits.

Key takeaways:

– New York City is the best role model for other urban tech hubs. It is the second largest tech hub in the world by most measures and the fastest growing over the last decade.
– Data from over 2,500 companies show that top-performing tech entrepreneurs are more likely than their peers to start new companies, encourage their employees to do the same, mentor, angel invest and inspire other entrepreneurs.
– Data from New York City’s tech sector debunks several common startup myths. For instance, the average NYC tech founder is thirty one years old and is more likely to have studied a non-technical subject in college than a technical one.

Highlights:

– Between 2003 and 2013, the New York City tech sector has grown twice as fast in terms of dollars invested as Silicon Valley’s, with its companies raising more than $3.1 billion in funding in 2013.
– Between 2010 and 2013, the number of New York City tech employees grew by more than 26% annually. Based on 2013 tax rates and a $100,000 average salary, the City could add nearly $160 million annually in new tech employee income tax receipts by 2019 and over $500 million by 2024.
– Tech companies led by local entrepreneurs directly employ 53,000 people, over 1% of New York City’s workforce.
– Venture funding for tech companies in New York City increased by 240% from 2003 to 2013, and more than 85% of the sector’s current companies and 86% of its current jobs were created during this time.

The report has also received media coverage in outlets including The AtlanticAM New York, NY Business Journal and Crain’s. Read the full report at www.nyctechmap.com and below.

 

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!

Endeavor Insight Report Reveals the Top Qualities that Entrepreneurs Look for in a City

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Endeavor Insight, supported by Omidyar Network, recently released a report that addresses the question “What Do the Best Entrepreneurs Want In A City?” With research culled from surveys and interviews with 150 founders of some of the fastest growing companies in the U.S., the report offers some important takeaways for urban leaders. Studies show that entrepreneurs often look to large cities rather than less urban areas to start their ventures and tend to stay put as their firms grow, with a majority of the founders surveyed living in metropolitan regions with populations of over one million. With this in mind, Endeavor Insight set out to explore the key elements of cities that allow them to attract and retain high-impact businesses, and the steps that leaders and policymakers can take to equip their cities for entrepreneurial growth.

The research uncovered a few key lessons on what makes certain cities more attractive than others. While a strong quality of life, talent pool and customer base were the most cited considerations, there was also a surprising lack of mention of business-friendly regulation as a factor. City leaders who dedicate resources to fostering these identifiable characteristics have the highest potential of drawing the types of innovative entrepreneurs, companies and jobs that can transform their local economies.

Read the full report, including more detailed explanations of each lesson and a list of the top keywords mentioned, by clicking here. The report was also featured in the The Atlantic Cities, The Atlantic and the Silicon Valley Business Journal.

2013 Endeavor Impact Report

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The 2012-2013 Endeavor Global impact report is now available. This year’s report features updated profiles on the global offices, vibrant new visuals of Endeavor’s impact, and highlights of key milestones from the past year.

View the digital report by clicking HERE and learn more about the ways in which high-impact entrepreneurship is transforming emerging markets, supporting local economies and innovating for future generations. To download a PDF version of the report, click HERE.

A special thanks to Open for their great design work on this year’s report.

 

 

 

Quality and quantity: Endeavor Entrepreneurs create high-quality jobs that multiply their impact.

Endeavor Insight released a report, “Multiplying Impact through High-Quality Jobs.”

 

Any company can generate jobs, but the best ones build careers. Endeavor Entrepreneurs succeed on both fronts, creating jobs 5.4x faster than peer entrepreneurs in their respective countries and doing so while guaranteeing high levels of employee satisfaction. Fast-growing companies with satisfied, well-trained, and healthy employees drive macroeconomic growth today and provide a sustainable path towards growth in the future. Endeavor is playing an important role in achieving this end by supporting the entrepreneurs and companies that serve as role models to business communities around the world.

Endeavor Insight continues to add to the evidence that Endeavor Entrepreneurs create high-quality jobs around the world. Its new report discusses the results of a global survey of Endeavor Entrepreneurs’ employees in seven countries: South Africa, Argentina, Brazil, Turkey, Uruguay, Egypt, and Jordan. Over the last two years, Insight has interviewed these employees and uncovered surprising results regarding their job satisfaction, children’s education levels, access to healthcare, and interest in entrepreneurship. The number of employees satisfied or very satisfied with their current job, for example, is nearly double the number who were satisfied with their previous job.

What is most surprising, however, is that this impact extends well beyond these employees, spilling over to their families and the wider economy. These employees report that their children and families have better access to education and healthcare than comparable workers, ensuring that the next generation can build on the work of their parents. And with nearly half considering becoming entrepreneurs themselves, the future looks bright for the employees of Endeavor Entrepreneurs. Please read the full report here.

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Snapshot: High-Impact Jobs at High-Impact Companies

Click image to enlarge.

www.endeavor.org/impact/assessment

2012 Impact Report

Endeavor Global has released its impact report for 2011-2012. With updated country reports, a sleek new design, and a breakdown of Endeavor’s impact, the newly released impact report is available HERE as a look into how Endeavor is continually innovating and fostering high-impact entrepreneurship around the world.

2011 Impact Report

Endeavor has released its 2010-2011 Impact Report! DOWNLOAD THE REPORT [PDF] for insight into how Endeavor is transforming the world through High-Impact Entrepreneurship. From Entrepreneur spotlights to country snapshots to colorful photos of events and network members, it’s all here!

For a quick glance at our most recent impact metrics, click here.

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