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31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City

New York, NY – August 14th – Endeavor selected 31 high-impact entrepreneurs leading 21 companies in 15 countries at its 54th International Selection Panel. Endeavor now supports 948 High-Impact Entrepreneurs from 606 companies across 20 […]

August 14th, 2014 — by admin

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Uruguay’s PedidosYa Acquired By Delivery Hero, Expands Network to 20 Countries

Uruguay’s PedidosYa, an online solution for food delivery in Latin America, recently announced a majority acquisition by Germany-based Delivery Hero. Founded by Endeavor Entrepreneurs Ariel Burschtin, Álvaro García, and Ruben Sosenke in 2009, PedidosYa currently operates a network of 12,000 partner […]

June 28th, 2014 — by admin

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2013 Endeavor Entrepreneur Summit Video: Ali Partovi & Eric Eldon

This video was filmed during Endeavor’s invitation-only 2013 Endeavor Entrepreneur Summit in San Francisco (June 2013).

In this fireside chat, TechCrunch Editor Eric Eldon interviews Ali Partovi about his path from serial entrepreneur (iLike, LinkExchange, Code.org) to early-stage investor (Facebook, Dropbox, Zappos and Airbnb) to startup advisor. Hear why sustainable agriculture and food companies like Brightfarms and Farmigo are next on his radar.

Ali Partovi is a Silicon Valley entrepreneur & investor. Ali co-founded LinkExchange (acquired by Microsoft for $265 million), and iLike (the first successful app on the Facebook platform). He was an early investor in Dropbox, Facebook, OPOWER and Zappos. Ali also co-founded Code.org, a non-profit to promote Computer Science education. Ali’s passion and current focus is sustainable food and agriculture.

Eric Eldon is the Co-Editor of TechCrunch. He was previously the Co-Founder and editor of Inside Network, where he managed publications including Inside Facebook, Inside Social Games and Inside Mobile Apps. Before that, he spent a couple of years covering technology and finance at VentureBeat, a leading Silicon Valley publication where he was the first employee. Eric attended Stanford University and graduated with a degree in International Relations in 2005. He reported and edited news for The Stanford Daily student newspaper.

Watch the playlist of excerpts from their discussion:

Third Harvard Business School Case Study on Endeavor Details Expansion into Miami

Harvard Business School (HBS), working closely with Endeavor, profiled the organization’s U.S. expansion into Miami in a recent case study that explores Endeavor’s operating model, global strategy, and the rigorous decision process behind the establishment of a new affiliate. This is the third study conducted by HBS examining Endeavor’s work, with the first study (2003) focused on Endeavor’s plans for growth and the second study (2009) exploring the concept of high-impact entrepreneurship. In this latest case, the research led by HBS Professor William Sahlman examines both the economic conditions that made Miami an attractive choice for Endeavor’s first U.S. venture, and the steps Endeavor took to turn the idea into a reality. 

When the idea of Miami was first proposed in 2012, an evaluation of the city’s entrepreneurial ecosystem found that there was already a strong community of talent and a viable infrastructure, demonstrated by one of the highest rates of new business formation among the 15 largest U.S. metropolitan areas. However, since 2000, the number of large businesses in the area declined by more than 20 percent, coinciding with a rapidly rising unemployment rate. It was evident that there was a vibrant start-up scene in Miami, but a lack of consistent access to investment capital and mentorship opportunities prevented many of these small businesses from reaching the critical scaleup stage.

Supporting entrepreneurs at this level, when job creation and economic impact is most tangible, is where Endeavor’s “mentor capitalist” model would prove valuable to Miami and where members of Endeavor’s senior leadership saw a key opportunity to expand the organization’s mission. There were still questions, however, of whether a U.S. expansion would be consistent with Endeavor’s values and capabilities, and whether it was the best choice among so many other potential markets. What followed was careful consideration and debate around issues of funding, opportunity cost and organizational impact, outlined by the study in an examination of how Endeavor is working to foster high-impact entrepreneurship beyond just emerging markets, but in every region where there is a verifiable need.

Since the Miami affiliate was launched in September 2013, entrepreneurs Roger Duarte and Sam Gorenstein of My Ceviche and Jesus Rodriguez of KidoZen have already successfully been selected into the Endeavor network. Visit the HBS faculty & research site to see a list of their latest publications.

Greece’s Daily Secret Raises New Round of Venture Funding; Plans Expansion into Africa

DailySecret

Daily Secret, founded by Endeavor Greece Entrepreneurs Nikos Kakavoulis and Phaedra Chrousos, recently announced that it has raised $1.25 million in a Series B round of venture funding to support the company’s global expansion efforts.

Founded in Athens, Daily Secret is a digital media brand that caters to young urban professionals by providing daily newsletters that share the latest in dining, nightlife, retail and culture tailored to each of the 35 markets it serves. With this new round of funding led by PanAfrican Investment Co., the company is hoping to expand its presence in Africa in major metro areas like Nairobi, Lagos and Accra. Along with these key African cities, Daily Secret also plans to expand in over a dozen other markets within the next year.

As the first entrepreneurs from Greece to join the network in 2012, Daily Secret has been active in many Endeavor services including one-on-one sessions with Endeavor mentors and investors.

Read more about the news in TechCrunch by clicking here.

Endeavor Insight Releases “City Hubs for Entrepreneurship” Report on Miami

endeavor_insightEndeavor Insight, with support from the Knight Foundation, recently released the first publication in its “City Hubs for Entrepreneurship Series”, explaining the results of an analysis on the opportunities and obstacles to Miami’s growing entrepreneurship ecosystem. The analysis was based on data collected from more than 100 early-stage and growth-stage companies, as well as interviews and focus groups with entrepreneurs, investors and policymakers. The report found a clear and demonstrable need for Endeavor’s work in the region where entrepreneurship is quickly on the rise but still facing many critical challenges. As Endeavor’s first U.S. affiliate, the Miami office was established in September 2013 with support from the Knight Foundation and a managing board composed of some of the city’s top investors and business leaders.

In the report, Endeavor found that that the central challenge for local entrepreneurship was that many companies were starting up, but very few were growing to become medium or large firms. A recent report from the Ewing Marion Kauffman Foundation demonstrated that Miami had the highest rate of new business formation among the 15 largest U.S. metropolitan areas in 2012. However, since 2000, the number of large businesses in the area has declined by more than 20 percent. Endeavor’s own research found that the city’s entrepreneurial community reported a variety of strengths to working in Miami, including a high quality of life, vibrant culture, and an accessible customer base. The challenges to scalable growth however, including a lack of expert talent, mentorship and opportunities for capital, are where Endeavor’s work looks to add the most value. The success of the Miami affiliate thus far has led to the selection of its first entrepreneurs, Roger Duarte and Sam Gorenstein of My Ceviche and Jesus Rodriguez of KidoZen, at the 51st International Selection Panel in Dubai.

Read more coverage on the Miami report from the Knight Foundation by clicking here and also in the Miami Herald by clicking here.


 

Endeavor and SAP Partner to Host a ‘Design Thinking’ Session for Entrepreneurs in Dubai

sapSAP, a global corporate partner of Endeavor, worked closely with Endeavor staff during the 51st International Selection Panel in Dubai to offer candidates the opportunity to brainstorm and share business development strategies in a day-long ‘design thinking’ session.

Led by SAP VP Sameer Areff, the goal of the session was to provide a forum for the entrepreneurs to uncover and address key business challenges by applying a collaborative, user-centered design approach. With the help of a graphic illustrator who transcribed the conversations, advisers from SAP and Endeavor staff worked with the entrepreneurs to identify issues that touched on a range of external and internal challenges, from customer service to  product development. The resulting ‘roadmap’ provided a  case study of issues and approaches for every entrepreneur to relate to their own business model.

“Design thinking is a powerful tool that helps entrepreneurs take a step back from the day-to-day to drill down on a topic or business challenge in a diverse team,” said Nicolette Van Exel, SAP’s Global Director of Corporate Social Responsibility. “SAP uses this internally and with our customers to address critical technology and business questions. By providing this offering to entrepreneurs we hope to help the next generation of business leaders accelerate and innovate.”

Previously, Endeavor worked with SAP to host similar ‘design thinking’ workshops during the 2013 Endeavor Summit, offering an innovative and interactive session to participants. Read more about the Summit event by clicking here.

Watch a recap video of the Dubai session courtesy of SAP:

Endeavor Entrepreneur Fatma Ghaly Featured on Egyptian TV Series “El Mashrou3″

Azza FahmyEndeavor Entrepreneur Fatma Ghaly, managing director of Azza Fahmy Jewellery, was recently featured as a guest judge on the Egyptian reality show El Mashrou3, a series that  spotlights young social entrepreneurs as they compete in team challenges that test and improve their real-world business skills. The goal of the series is to not only raise awareness of the culture of entrepreneurship in Egypt, but also  provoke discussion of important social causes in the region.

In the episode, Fatma judges the contestants after they are challenged to create a home decor piece from recycled products within a small budget. She evaluated the contestants on creativity, pricing, and feasibility, while also giving advice on project planning. Working with Endeavor’s Egypt affiliate, El Mashrou3 has also featured a number of Endeavor mentors as guests.

Since Azza Fahmy’s selection in 2008, Fatma and the company has been active members of the Endeavor network, receiving introductions to designers and potential partners as well as strategic business advice through the G-Lab Program.

Watch the entire episode in Arabic below:

Latin American Entrepreneur Companies Globant, Tecsis and Imagen Dental Profiled in Spain’s El Pais

Máster-de-periodismo-de-El-PaisA recent article in Spain’s El Pais featured Endeavor Entrepreneurs Guibert EnglebienneBento Koike, and Ricardo Villarreal as well as Endeavor President Fernando Fabre as they discussed economic growth, innovation and competitiveness in the Latin American region.

The article highlights entrepreneurship in Latin America and the challenges the market faces against a rising Asian economy, particularly in terms of manufacturing and production. Despite studies that claim that innovation in the region is lagging behind its global competitors, companies like Guibert’s Globant, Bento’s Tecsis and Ricardo’s Imagen Dental demonstrate that high-impact businesses are steadily attracting top talent and investing in products that are growing whole sectors of the region’s economy.

Based in Argentina, Globant is one of the fastest growing software product development companies in the country, aiming to provide clients with solutions that are both design-minded, scalable and efficient. The founders’ goal is to put Argentina on the radar of the global marketplace with an offshore IT services alternative, and to continue attracting top clients from around the world. Since Guibert’s selection in 2005, Globant has expanded rapidly and stands as an Endeavor success story, acquiring fellow Endeavor Entrepreneur company OpenWare and participating in programs like Endeavor Catalyst and the EY Vantage Program among other activities.

The Brazil-based Tecsis is a leading energy company specializing in the manufacturing of components for wind turbines and serves as one of the world’s largest producers of turbine blades. As a leading exporter in Brazil, Tecsis has seen rapid growth in the U.S. and Europe, and cites a number of global corporations as clients. Since Tecsis’ selection in 2002, Bento has received ongoing support from Endeavor’s services, including participation in the eMBA Program and G-Lab Program, and has also given back by serving as an Endeavor mentor.

In Mexico, Imagen Dental is transforming dental, vision and hearing care for middle-class Mexicans with specialized and affordable service options. In a country where public healthcare is undergoing much change, founders Ricardo and Patricio seek to provide quality and well-trained professionals who can offer Mexicans basic and necessary services. Since their selection in 2006, the entrepreneurs have participated in Endeavor services like the eMBA Program as well as numerous Immersion Tours and an Endeavor Entrepreneur Summit.

Read the entire El Pais article in Spanish for more views on innovation in Latin America and how the region is competing globally.

Saudi Arabian Entrepreneurs Featured on Forbes List of Inspirational Leaders

forbes

Forbes Middle East, the regional outlet for Forbes business and finance news, recently released a ranking of Saudi Arabia’s top movers and shakers. Four Endeavor Entrepreneurs made the the list of sixty for their work as self-starters who have grown their businesses into  high-impact ventures.

The entrepreneurs who made the list include Naif Alqahtani of LSSLoai Naseem of LomarAbdulmohsin Al-Rabiah of Shawarmer and Amr Al Madani and Saeed Saeed of TalentS. The ranking, officially titled “Leaders Inspiring A Kingdom in the Business World” had the goal of putting together a list of “individuals and visionary self-starters who have the power to initiate change and contribute to the Saudi Arabia of tomorrow.” The Saudi Arabian entrepreneurs named have started ventures in fields ranging from supply chain logistics (LSS) and STEM education (TalentS), to fashion apparel (Lomar) and fast food (Shawarmer). Together, these entrepreneurs and their companies are growing an ecosystem of entrepreneurship that continues to mark the Middle East as a globally competitive economy. 

Launched in 2012, Endeavor Saudi Arabia is one of seven Endeavor affiliates in the MENA region, which includes Egypt, Lebanon, Morocco, Turkey, Jordan and the UAE. Read the full ranking by clicking here.

 

Launch of Endeavor’s UAE Affiliate Featured in Emirates 24/7

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Emirates 24/7, a United Arab Emirates’ (UAE) online news outlet, recently profiled the Endeavor affiliate office in Dubai, which was announced in October of 2013.

The official launch of the UAE affiliate was marked by the 51st Endeavor ISP which took place December 10th – 12th, 2013 in Dubai, where the country’s first entrepreneurs, Duplays and PropertyFinder, were selected after a rigorous round of interviews and deliberations with some of the region’s top investors and business leaders. As Endeavor’s seventh affiliate in the Middle East, the organization’s growing presence in the region recognizes the thriving community of entrepreneurs that has made it a key global market.

Noor Shawwa was named Managing Director of the office, and will oversee a team on-the-ground in Dubai. See a list of the founding board members, which includes top local Endeavor Entrepreneurs and investors, by clicking here.

“We’re thrilled to include the UAE as a member of the Endeavor network,” said Endeavor co-founder and CEO Linda Rottenberg.  “This is one of the world’s fastest growing economies and we hope that we can help bring a number of locally based businesses to scale and play a role in fostering entrepreneurship here.”

Read the full Emirates 24/7 feature by clicking here.

El Economista and Forbes Mexico Profile “The 6-30 Report” by Endeavor Insight

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ForbesMX

El Economista and Forbes Mexico, two of Mexico’s top finance and business news outlets, recently featured Endeavor Insight’s “The 6-30 Report“, which highlights the contributions of scaleup companies to the nation’s economy. Part of a series from Endeavor Insight focused on scaleup ecosystems worldwide, the first two reports examine Indonesia and Colombia and spotlight the importance of supporting businesses in this crucial high-growth stage.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are becoming a critical component of economic and social development in Mexico and throughout Latin America. The report found that these businesses represent just 6% of the country’s total number of firms but created 30% of net new jobs over the past three years. For a market  like Mexico, with an estimated workforce growth of more than 7.9 million people by 2020, the demand for new jobs for young adults has never been higher. A reported 900,000 Mexicans between the ages of 15 and 24 are currently unemployed. This is the point where companies in the scaleup stage, with the right support network behind them, can contribute the most in terms of job creation, human capital and economic development.

Media coverage of research like “The 6-30 Report” makes it evident that the business community in Mexico and beyond is beginning to recognize the importance of scaleups in driving innovation and job creation in emerging economies. A survey of over 900 entrepreneurial leaders from around the world found that, in order for these companies to see continued success, steady access to global markets, talent, funding and support systems is critical. As Endeavor continues to study and promote these types of ecosystems worldwide, increased awareness among business leaders, investors and policymakers could help ensure that future entrepreneurs have the resources they need to make the biggest impact.

Read the full El Economista article in Spanish by clicking here and the full Forbes Mexico article in Spanish by clicking here. Read “The 6-30 Report” below:

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