“A Spirit for Enterprise,” a recent Financial Times article, featured Endeavor and its Co-Founder & CEO, Linda Rottenberg. Written by Joe Leahy, an attendee of Endeavor Brazil’s March 2013 Global Entrepreneurship Congress in Rio, the article examined the entrepreneurial ecosystem in Brazil.
According to Leahy, while Brazil’s economy was traditionally dominated by very large corporations, over the last ten years the entrepreneurial ecosystem has expanded rapidly. The article cited studies completed by Endeavor and Global Entrepreneurship Monitor that reflect the growing trend towards entrepreneurship. Endeavor’s study concluded that a high percentage of Brazilian students (60%) are considering becoming entrepreneurs. GEM’s report found that roughly one out of four Brazilian adults either own or are starting a business.
Likewise, the prevalence of entrepreneurship in Brazilian culture and of Brazilian entrepreneurs in international news has grown. Rottenberg spoke of how, after Endeavor launched in Brazil, a dictionary editor called her when he added the word “entrepreneur” to a Portuguese dictionary. In the Brazilian soap opera major “Avenida Brasil,” a major character is a woman from a favela who sells hair products she developed herself. (Perhaps Leila Velez, an Endeavor Brazil entrepreneur and the co-founder of hair salon Beleza Natural, inspired this character). And most recently, Jorge Paulo Lemann, a Board Member of Endeavor Brazil, made international news when it was announced that he and Warren Buffett were in talks to purchase Heinz.
Leahy also spoke with policy makers who felt that to encourage more “high-impact entrepreneurs” to scale their businesses, the Brazilian government needs to limit barriers to growth like higher taxes and labor laws for large companies.
To read the article in full, please click here.