PricewaterhouseCoopers (PwC), one of the world’s largest professional services and auditing firms, has announced a partnership with Endeavor Argentina to provide Endeavor Entrepreneurs with ongoing strategic support. PwC will offer training modules and workshops on proper auditing practices and issues related to effective management and growth preparation. PwC partners and professionals have also offered hours of mentoring and support on strategic issues such as tax planning, international trade, corporate law, HR management, and information security.
“The great challenge of our entrepreneurs is to generate sustainable, long-term businesses, and think big,” said Endeavor Argentina MD Alejandro Mashad. “We’re honored to have the support of PwC to help our entrepreneurs achieve these important goals.”
Several Endeavor Entrepreneurs are featured in “Ten Under Ten” in Latin Trade, a premier regional business publication. The article highlights ten promising Latin American companies started in the past ten years, including Endeavor firms Globant, AliBio, and Intizen. “A number of the executives at the helm,” the article affirms, “have received crucial support and guidance from the likes of Endeavor.”
The Citi Foundation granted $100,000 to Endeavor, specifically focused on Endeavor’s work in Egypt, Turkey and South Africa.
“The Citi Foundation has long recognized that real growth in the developing world will ultimately come from robust private sectors that encourage investment and innovation,” said Endeavor CEO Linda Rottenberg. “Citi has done so much to jumpstart private sector development worldwide. This grant reinforces their commitment to expanding employment and wealth across the emerging and developing world.”
Pam Flaherty, President and CEO of the Citi Foundation said, “We recognize the importance supporting small and growing businesses in developing markets. Not only do these businesses lead to the economic growth and development of their communities, but they provide increased employment opportunities for the residents of those communities as well. We are honored to support Endeavor’s outstanding work to identify and nurture high-potential entrepreneurs to achieve their business goals in Egypt, Turkey and South Africa.”
In a recent article in Ad Age about purpose-driven work, Dell executive Erin Mulligan Nelson spotlights Dell’s “Take Your Own Path” campaign—highlighting the example of Linda Rottenberg and the work of Endeavor. Stay tuned for the rollout of the Brazilian version of this global Dell campaign.
The financial services company HSBC recently published and distributed to major UK newspapers the “100 Thoughts” [PDF], a series of publications focused on innovative business practices.
Thought #90, titled “Get a Mentor,” highlights the experience of Brazilian Entrepreneur Ivan Calia Barchese of Mextra. Endeavor introduced Barchese to Fausto Moreira, the retired president of Alcoa Brazil, whose guidance changed the way Barchese ran his business and helped accelerate its growth; in just three years, Mextra increased sales from $6M to $35M.
Chile’s Karina von Baer was also cited in Thought 84, “Turn Commodities into Specialties.” Her business, Oleotop, buys the rape crop from Chilean farms and transforms it into specialty oils to use as feed for the burgeoning salmon farming industry.
We are pleased to announce that three new members of our Endeavor Global Board of Directors – Reid Hoffman, Matt Brown, and Michael Ahearn — were inducted at our Global Board meeting in New York last week.
Reid Hoffman is the Co-Founder & Chairman of LinkedIn, and partner at Greylock Partners. Prior to LinkedIn, Hoffman was Executive VP of Paypal, and held management roles at other significant technology companies. In addition to LinkedIn and Endeavor, Hoffman serves on the Board of Directors for SixApart, Kiva.org, and Mozilla.
Matthew C. Brown is a Founder and Managing Principal of Capital Integration Systems LLC (“CAIS”), and brings 20 years of experience in financial services with a focus on global marketing and distribution of alternative investment funds. Over his career, Brown has built and managed investment firms and platforms and has represented industry-leading investment managers. No stranger to Endeavor, he has previously served for a number of years on Endeavor’s Global Advisory Board and on the boards of Endeavor South Africa and Endeavor Turkey.
Michael J. Ahearn serves as Executive Chairman of First Solar, after serving as CEO from 2000-2009. Ahearn was previously a Partner and President of the equity investment firm, JWMA, and practiced law as a partner at Gallagher & Kennedy. He has served on numerous boards including those of Homeward Bound and the German Marshall Fund of the United States.
Nearshore Americas, a media website covering the global services outsourcing industry, released its Top 50 Power Ranking of Most Influential Executives for 2010.
Gabriel Rozman, Chairman of the Board of Endeavor Uruguay and EVP Emerging Markets of Tata Consultancy Services (TCS), earned the number one position. The report highlights Rozman’s success in expanding TCS’s global presence by employing over 7,000 Latin Americans, as well as his philanthropic involvement with Endeavor.
Endeavor Entrepreneur Martin Migoya, CEO and Co-Founder of Globant, was awarded the number ten spot and is the youngest executive in the top 10 ranking. The publication highlights Migoya’s vision of outsourcing as a means “[to] promote the professional development of people without [them] having to emigrate from their place of birth, and thus contributing to a sustainable growth of their communities.”
In conjunction with the ISP in Istanbul, Endeavor also hosted its first Middle East & Turkey Mentor Capital Summit, marking a rare gathering of top entrepreneurs and pioneering venture capitalists in the region. Twenty-four top investors from the Middle East, Europe, and the US joined the Summit to discuss the development of the region’s venture capital ecosystem, and to evaluate business pitches from four Endeavor Entrepreneurs graduating from the Mentor Capital Program.
Beyond providing entrepreneurs with exposure and feedback, the pitch forum succeeded in facilitating proper introductions to potential investors, several of whom expressed significant follow-up interest. The Summit closed with a private workshop for MCP graduates. The next Mentor Capital Summit will take place October 6-7 in Sao Paulo, Brazil.
In a recent article on Executive Magazine, entitled “A new American intervention,” Annelle Sheline covered the shifts in American foreign policy to a softer, more pro-business approach to fostering democracy in the Middle East. As Secretary of State Hilary Clinton asserts, “a strong economic foundation and a stable middle-class” are key components in fostering democracy in the Middle East.
Annelle points out that while it is not known yet just how effective the State Department will be in its efforts, she trumpets the existence of Endeavor as an active and independent organization in the region that has given entrepreneurs access to mentors and angel investors in Morocco, Turkey and Egypt in recent years. Especially important is the framework that Endeavor uses in the Middle East, a framework that Elmira Bayrasli, policy and outreach coordinator for Endeavor Global, says is “driven by finding local business leaders and local networks that will then define how [they build] their own framework.”
In a June 2010 article in the Harvard Business Review, “How to Start an Entrepreneurial Revolution,” Daniel J. Isenberg acknowledges High-Impact Entrepreneurship as a key driver of economic growth—and Endeavor as an organization helping to make it happen. Support organizations, he argues, “should focus on ambitious, growth-oriented entrepreneurs who address large potential markets…[since] 500 microfinanced sole proprietorships and one rapidly globalizing 500-person operation create the same number of jobs…Even one success can have a surprisingly stimulating effect on an entrepreneurship ecosystem – by igniting the imagination of the public and inspiring imitators.”