High-Impact Entrepreneurship

Endeavor to launch a new country affiliate in Saudi Arabia

Full press release below.

Endeavor to launch a new country affiliate in Saudi Arabia focused on High-Impact Entrepreneurship

New York, July 18, 2012 – Endeavor announced today that it will launch a new affiliate office in Saudi Arabia, expanding its efforts to select and service high-impact entrepreneurs in the Middle East.

This will be Endeavor’s fifth Middle East regional affiliate, following successful launches over the past six years in Turkey, Egypt, Jordan and Lebanon. Endeavor has already selected 90 entrepreneurs representing 59 companies in the MENA region and provides a range of services including mentoring, providing access to key networks and introductions to sources of smart capital.

All Endeavor affiliates are spearheaded by a local board of leading businesspeople each of who share the organization’s vision for screening and selecting entrepreneurs and then providing them guidance to scale their businesses.

The Endeavor Saudi Arabia founding board will be chaired by Rami K. Alturki, President of Khalid Ali Alturki & Sons. He will be joined on the board by HRH Princess Banderi A.R. Al Faisal, Director General, King Khalid Foundation, Mohammed A. Hafiz, CEO, Al-Sawani, Musaab S. Al Muhaidib, CEO, Al Muhaidib Technical Supplies, Abdulaziz A. Al Omran, VP, Khalid & Abdulaziz Al Omran Co., Hossam Radwan, CEO of Abraaj Saudi Arabia, Faisal Tamer, Managing Partner at The Tamer Group, and Abdulla Al Zamil, CEO of Zamil Industrial.

The board has recruited Rakan Al Eidi to serve as the first Managing Director, overseeing day-to-day operations for Endeavor KSA. His initial responsibilities include recruiting the first Endeavor Entrepreneur candidates in the Kingdom and building a staff to support them.

“We’re very excited to bring Endeavor’s proven model to the Kingdom of Saudi Arabia,” said board Chairman Rami Alturki. “Entrepreneurship is one of the keys to addressing the need for tens of thousands of new and innovative jobs in the Kingdom.”

“Through our work with high-impact entrepreneurs in the MENA region, we hope to inspire a culture of entrepreneurship, leading to innovation as well as job and wealth generation.” said Endeavor Co-founder & CEO Linda Rottenberg. “We’re very excited by the enormous opportunities to build entrepreneurship in Saudi Arabia.”

The launch of Endeavor in The Kingdom of Saudi Arabia would not have been possible without the strategic guidance of our regional board members and key partners. Endeavor Global would like to thank Abraaj Capital for their commitment and ongoing support to accelerate Endeavor’s expansion and impact within the Middle East and North Africa.

About Endeavor

Endeavor breaks down barriers that prevent emerging-market entrepreneurs from reaching their high-impact potential. Hailed by NYT columnist Thomas Friedman as the “mentor capitalist” model and “the best anti-poverty program of all,” Endeavor identifies entrepreneurs leading high-growth innovative companies in emerging markets. These entrepreneurs are given world-class strategic advice, access to key networks and other tools that will catapult them to success. With Endeavor’s guidance they become “high-impact” – expanding employment, generating wealth and inspiring others to innovate. Often overlooked, these local entrepreneurs are now jumpstarting private sector development in their countries.

At year-end 2010, Endeavor Entrepreneurs throughout Latin America, South Africa, Turkey, Egypt and Jordan had created more than 150,000 jobs and generated over $4 .5 billion in revenues. For more information, visit www.endeavor.org

Further Information:

For more information on Endeavor Saudi Arabia, please contact Rakan Eidi, rakan.eidi@endeavor.org. For further details on Endeavor Global and Endeavor’s entire portfolio of High-Impact Entrepreneurs please contact david.wachtel@endeavor.org or Joanna.harries@endeavor.org

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