High-Impact Entrepreneurship

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Endeavor Investor Network Convenes Over 120 Entrepreneurs and Investors in NYC

On May 5th, the Endeavor Investor Network convened growth market leaders in New York City for a day of networking and learning. The invitation-only event gathered over 120 participants including Endeavor Entrepreneurs and leading investors […]

May 13th, 2015 — by admin

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Endeavor Awarded the 2015 Henry R. Kravis Prize in Nonprofit Leadership

In recognition of Endeavor’s work providing support and mentorship to over a thousand high-impact entrepreneurs in more than 20 markets around the world, the organization has been named the recipient of the 10th Annual Henry R. Kravis Prize in Nonprofit Leadership. The […]

March 31st, 2015 — by admin

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September 2014 Newsletter


To view Endeavor’s September newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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2014 PiLA Field Report: Exploring New Horizons with Endeavor Argentina

Every summer, top graduate and undergraduate students in the engineering, business and computer science fields spend a summer working with an Endeavor and Endeavor Entrepreneurs to assist in technical work assignments. These students are driven by interests in bridging technology and society through innovation, design, and entrepreneurship. Following is a post from Wade Prospere, a PiLA participant who spent the summer working with the Endeavor Argentina office. 

After graduating from Cornell University in 2010 and working as a Financial Analyst for Merrill Lynch for three years, I joined Endeavor Argentina in 2013 as a Princeton in Latin America fellow. I was drawn to Endeavor’s commitment to entrepreneurship as the key to sustained economic growth in emerging markets, and I wanted the opportunity to personally contribute to Endeavor’s impact. Working for Endeavor served as an incredible opportunity to learn—both from inspiring entrepreneurs and mentors, and from an amazingly talented global team.

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Wade and the Endeavor Argentina team

Upon arriving in Buenos Aires in June of 2013, I joined Endeavor Argentina’s 8-person Search and Selection team. The Search and Selection team is responsible for driving Endeavor’s selection process, which involves: screening entrepreneurs, conducting candidate interviews, facilitating entrepreneur/mentor interaction, writing comprehensive company profiles, and preparing entrepreneur presentations for national and international panels. The most rewarding aspect of my Search and Selection role was personally meeting and working with Argentina’s most remarkable entrepreneurs. I worked with businesses in industries ranging from technology to healthcare to real estate. Each project gave me insight into the issues and challenges Argentina’s entrepreneurs face, and the opportunities that can arise from Endeavor’s powerful set of resources.

At the heart of Endeavor’s model is an unrivaled network of seasoned business leaders. These mentors help entrepreneurs unleash their potential by providing guidance, strategic advice, and inspiration. My greatest learning experiences from working at Endeavor Argentina came from business strategy meetings between entrepreneurs and mentors. Absorbing market-specific advice from mentors helped me frame candidate enterprises and address how Endeavor’s resources could help catalyze their businesses. Despite operating in a default-ridden country, Argentina’s entrepreneurial ecosystem is extremely robust, and it’s obvious to me that Endeavor has played an instrumental role in promoting entrepreneurship as a tool for development throughout the country.

On a personal level, working at Endeavor has been the most enriching experience of my life to date. Living in a foreign country and interacting daily with high-impact entrepreneurs provided a truly unique learning experience. Endeavor Argentina’s network and local staff could not have been more impressive. It was inspiring to see such a diverse group of leaders collaborating to use entrepreneurship as a building block to strengthen the economy. This perspective, along with the relationships I formed working at Endeavor, will forever affect the way I evaluate impact.

Endeavor’s model gains its power from its vast global network, which serves to select, mentor, and accelerate the best high-impact entrepreneurs from around the world. As Endeavor’s network grows, the resources available to entrepreneurs and mentors become more robust, and Endeavor’s ability to impact development becomes more profound.

Social Media Highlights from the 2014 Harvard and Stanford Leadership Programs

Participating Endeavor Entrepreneurs at the 2014 Harvard and Stanford programs shared their experiences on Twitter during the week of classes, highlighting everything from networking sessions to lectures from leading university faculty. See below for excerpts from the digital conversation.

90+ Endeavor Entrepreneurs Participate in Week-Long Leadership Programs at Harvard and Stanford

In August, Endeavor partnered with Harvard Business School and Stanford University to organize a week of programming focused on leadership and management training for a select group of high-impact Endeavor Entrepreneurs. During the two programs, the entrepreneurs stayed on campus to engage in several days of guest lectures and discussion groups custom-designed by university faculty. The participants were given access to the world-class resources and expertise of each leading institution while also networking and sharing insights with their fellow entrepreneurs.

HBSHarvard’s “Scaling Entrepreneurial Ventures” Program took an in-depth approach to helping participating entrepreneurs identify opportunities for innovation and growth in their own businesses. Entrepreneurs from 13 Endeavor countries took courses with top HBS professors on topics ranging from sales and marketing to valuation and financing. The participants were also given assignments that called on them to evaluate their own ventures and integrate key learnings from the program. In addition, a pitch competition was organized to give the entrepreneurs a chance to collaborate and present their ideas to faculty and to one another.


Stanford_logo-1Located in the heart of Silicon Valley, the leadership program at Stanford University drew from the best of Stanford GSB’s world-class faculty and network to help Endeavor Entrepreneurs learn to build leading companies in a competitive global marketplace. Participants from 11 Endeavor countries had the chance to develop core competencies that could help them transform their companies, manage ongoing growth and improve corporate culture. In addition, the program focused on helping the entrepreneurs identify opportunities and challenges to scale, using a discussion group format to address specific business challenges. The Stanford campus and the surrounding environment of Silicon Valley also provided an extraordinary setting with access to the area’s leading tech hubs. 


eMBA 2014 Field Report: Making A Transition With Colombia’s Refinancia

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Keisuke Arimoto, a member of ESADE’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Colombia’s Refinancia

Before meeting Refinancia, I have always been interested in cultures of Latin America as I have been travelling frequently there and learning Spanish almost every time I had vacation. One day, I have come to think “what if I could connect my hobby with professional experience?” with hopes that being a Japanese speaking English, Spanish, and Japanese with international business experiences would be provide a niche! This question as well as a motivation to become an entrepreneur in the future took me to an MBA in Barcelona after 7 years in the financial industry, and found an answer at Refinancia realizing my sueño (dream.)

Why Colombia?

When I had my “garden leave,” after resigning from my previous work, before the MBA, I went to Colombia to spend 40 days, travelling around the country after following recommendations of backpackers I had met in previous years. It was easy for me to make a decision to come back for a different reason, a work experience, given the warmness and sincerity of people as well as amazing touristic attractions including a beautiful city of Cartagena in the Caribbean coast.


Keisuke with the team at Refinancia

What kind company is Refinancia?

It is a solution provider in the area of consumer finance with two main businesses, NPL and merchant payment guarantee services. The company was establish in 2005 by an MBA graduate from Harvard Business School, Kenneth Mendiwelson, and has been enjoying a tremendous growth to have over 900 employees in Colombia and Peru. Given its success to capture the growing niche market, Refinancia has been recently acquired by NASDAQ listed US based specialty financing company, Encore Capital Group, mirroring an entrepreneurial success story we would learn in our MBA classroom. Hence, Refinancia is in an extremely interesting stage where it is transitioning from an entrepreneurial company to a corporate entity to incorporate established know-hows and structure from the parent company.

The traditional and original business is an NPL (non-performing loan) business in which Refinancia becomes an investor of a consumer NPL portfolio by purchasing it from banks. In this transaction, banks benefit from removing bad assets from its balance sheet for an income from the sales while the borrowers benefit from gaining opportunity to improve their credit score by having the second chance of repayment, instead of being recorded as an insolvent borrower. As the consumption and loan growth have been growing rapidly along with the economic growth, Refinancia has been the leader in providing such financial solutions in Colombia and Peru.

The merchant guarantee business is a relatively new business yet fully leveraging Refinancia´s core capabilities nurtured in its NPL operation, providing point-of-sales solutions to consumers while Refinancia guaranteeing payment by the consumers.

As Refinancia has been rapidly establishing its foot print in financial industry, it has been attracting many talents from other large banks and financial service companies. Hearing the opinions of those who recently joined Refinancia from other banks, it is quite interesting that Refinancia has size meaningful enough to attract large businesses and talents yet maintains an innovative and entrepreneurial environment where countless new projects have been in discussion and being launched to fuel further growth.

In terms of people, they are very friendly and approachable from young people to senior management including the founder as I had expected from my previous travel experiences. I also go out to share personal time with colleagues of Refinancia outside of work including playing football. The quality of people working here are very high with high disciplines and inspirations to work in an entrepreneurial and challenging environment.

What is my project?

The company has many projects in discussion before hitting the market. My project is to create a model by which the company prioritizes initiatives, and prioritize the current initiatives. Having a means to prioritize initiatives has been becoming ever more critical as there have been needs to select initiatives with large market potential with sustainable profitable growth out of many initiatives on the table. This is especially a case as Refinancia, after the acquisition by Encore, has been in a turning point from an entrepreneurial stage to a corporate stage so that the use of its capital needs to be logically explained to the parent company.

The project has been requiring many skills learned in the MBA and the previous work experiences. First, financial analysis including accounting and valuation analysis are a must as all the projects need to be put in economic figures for comparisons. Second, communication skills and sales (which include Spanish!) are essential as my job cannot be done without any help of commercial team and financial team of Refinancia. Also, it is important to logically explain the top managements about the model so I would say a presentation skill is also a key to apply.

Overall impression

In many aspects including the entrepreneurial environment (despite of the recent acquisition), the stage where the company is in, the business, the people, the project, and the Latin American business experience, I have been very satisfied with the internship. Supported by the many, I am committed to complete and deliver the presentation in a few weeks and keep on enjoying the charm Colombia!


2014 PiLA Field Report: A Summer Immersion with Endeavor Chile

Every summer, top undergraduate students in the engineering and computer science departments spend a summer working with an Endeavor and Endeavor Entrepreneurs to assist in technical work assignments. These students are driven by interests in bridging technology and society through innovation, design, and entrepreneurship. Following is a post from Matt Doup, a PiLA participant who spent the summer working with the Endeavor Chile office. 

There’s a common expression in Spanish: “tírate a la piscina”, roughly translating to “throw yourself in the deep end”. In many ways, that phrase perfectly sums up my experience at Endeavor Chile. Working in a second language is challenging. Working in a second language with the country’s top entrepreneurs and leading business professionals while analyzing hundreds of business models is something entirely different. That prospect is doubly intimidating when, on day one, one can barely understand a word spoken at the weekly office breakfast, only to discover that Chileans don’t, in fact, speak Spanish (I don’t know how I had overlooked that minor detail). They speak Chilean: a hyper-fast , sing-song-y dialect punctuated by pseudo-English words like “cachai” (you catch?), or “po” (no meaning whatsoever, yet added onto the end of most sentences).


Matt with the Endeavor Chile network members

I nonetheless thought the task of identifying what Endeavor calls “High-Impact Entrepreneurs” would be somewhat straightforward.  Chile, on paper, is an entrepreneurial mega-hub. Not only have open markets and business-friendly tax policies* resulted in a flowering of disruptive home-grown start-ups, but innovative government initiatives like Start-Up Chile, a program that provides entrepreneurs from around the world with US$40K to bootstrap their companies in Santiago, have begun to attract gloabl talent, resulting in an environment that many are referring to (perhaps optimistically) as Chilecon Valley. The reality that I found, however, is that “culture” tends to lag behind policy in Chile: the country is characterized by pervasive social conservatism, fear of risk-taking (entrepreneurs often operate 5-6 businesses simultaneously to hedge their bets should one fail), and, like much of Latin America, rampant classism. Couple these social norms with two major structural factors— the lack of quality public education, and vulture, rather than venture, capitalists, and the future of entrepreneurship in Chile looks far less rosy.

Enter Endeavor.  Endeavor holds a critical place in the Chilean ecosystem— one that is helping to break down psychological barriers through storytelling: the brother-sister duo who turned a healthy home-made cookie recipe into the country’s leading on-the-go snacks brand; the three friends who saw an opportunity to beat out McDonald’s at the local level, developing a franchise spanning five brands and with operations in Chile and Brazil; two brothers who identified inefficiencies in shipping and maritime logistics in the Patagonia, becoming the first company in the region to provide these services;two sisters who were able to take their father’s  clothing store and turn it into the premier children’s clothing brand in Chile.  I witnessed first-hand how these narratives collectively served to inspire Chilean entrepreneurs to action: both in taking more risks and dreaming bigger.

Some of the highlights from my year as a PiLA at Endeavor Chile included: attempting (and failing) to institute a Monday-morning breakfast burrito tradition; working with aspiring high school-aged entrepreneurs at a three-day youth camp in Chilean wine country; hiking the infamous “W” in Torres del Paine National Park in the Chilean Patagonia; serving as the “office elf”, dancing while handing out presents at the office holiday party (I will never quite get used to 90-degree Decembers); gorging on “empanadas de pino” at our office party to celebrate Sept. 18 (Chilean Independence Day); losing and subsequently having to replace my passport; bicycle wine tours and Puerta Cerradas in Mendoza; being known permanently as “Max” at Starbucks Chile; developing an unhealthy obsession for “palta” (creamy Chilean avocados); being made fun of to no end by coworkers for my love of said palta.

When not voraciously consuming palta, traveling, or perfecting my elf-dancing routine, I focused on carrying out the Endeavor mission, working with almost every type of company under the sun: stevia production, baby E-commerce, mining technology, cell phone cases, a sushi restaurant, even wastewater management using earthworms! Because of the small size of the office, I was fortunate be given the opportunity to take the reigns on a number of aspects of the Search & Selection process, the culmination of which was opportunity to lead the preparation of two companies for the International Selection Panel in Florianopolis, Brazil. Overall, it was tremendously rewarding to have played a significant role in Endeavor’s selection of nine entrepreneurs across five companies during my year in Chile! I’ve gotten very close with a lot of the Endeavor Chile staff, as well as a number of the entrepreneurs that I worked with. And I’m proud to say that I only let one “cachai” slip during my entire year there.

eMBA 2014 Field Report: Exploring A New Landscape with Greece’s Daily Secret

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Chafic Mourad, a member of Harvard Business School’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Greece’s Daily Secret

eMBA_webWorking as a strategy consultant before joining Business school, I wanted to undergo a different experience during my summer internship. I was searching for a business role in a start-up where I can learn from the daily challenges entrepreneurs face. I also wanted the start-up to be small enough so I can effectively contribute to the growth of the company.

Daily Secret is a subscription newsletter service delivering curated secrets and gems in cities around the globe to its subscribers. The secrets cover food, art, travel, entertainment and fashion industries. I was interested in joining Daily Secret for two main reasons: First, it’s a small firm with an international span and huge growth potential. Second, I found the company’s product very appealing given that I have always enjoyed discovering and shortlisting restaurants, bars and venues whether in my hometown Beirut or in other international cities.

The company has two offices, one in New York and the other in Athens. It was undergoing important changes in its organizational structure.  Most members in the US office, which I joined, were new to the company and the new CEO had taken the lead few weeks before my arrival. The energy level was high and there was a definite momentum to reach the new short and long term goals set by the CEO.

I was mainly involved in business development. During the internship, I developed a plan to define the different products which can be offered to partners or ad buyers, structure the selection process of these partners and generate a target list of potential clients. Witnessing the closing of some deals with partners suggested in the plan was the most rewarding part of the internship. I was also able to contribute on the product front as Daily Secret was expanding into new markets.

Looking back, my internship at Daily Secret was definitely a great learning experience. I was fully responsible of my deliverables, set my own milestones and led the work and development of the plan with limited resources and in a very dynamic environment. I had the opportunity to learn from the other members of the team, most of them having previously worked in other start-ups. Helping them in their daily tasks was truly beneficial. Going forward, I will be returning to campus in less than a month, bringing back my entrepreneurial experience to share with my classmates and build on during the next recruiting cycle.

Endeavor Convenes Managing Directors from 20 Countries for Leadership Retreat

During the  54th Endeavor International Selection Panel in New York, Endeavor convened managing directors from all 20 of its affiliate offices for an annual MD Retreat. The aim of the program was to foster collaboration among Endeavor’s growing global network of offices and to provide essential leadership and communications training that will keep Endeavor at the cutting edge of high-impact entrepreneurship.


Collaborating in a workshop at the Bain offices

The week-long retreat consisted of a series of workshops and teamwork exercises focused on promoting innovative and creative processes among Endeavor staff around the world. In particular, representatives from the Drucker Institute led a series of sessions on leadership and management techniques. Representatives from Bain & Company, an Endeavor sponsor, held workshops focused on talent retention and development while also offering to host most of the week’s events at their New York City offices. Ultimately, as Endeavor works to expand to 25 countries by 2015, the retreat allowed MDs from every region to better align on the organization’s core goals, operations and brand.  

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Participating in team building exercises

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

NYC ISP Header

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 countries. The entrepreneurs were chosen from among 29 candidate companies at a panel held from August 11-13th for the first time in New York City.

A number of pioneering entrepreneurs and groundbreaking companies are part of this new class, including Saudi Arabia’s Lateefa Alwaalan, the first female candidate from the country and founder of Arabic coffee producer Yatooq, and Argentina’s Emiliano Kargieman, founder of nano-satellite developer Satellogic.  Endeavor Spain also welcomed its first entrepreneur, Ignasi Vilajosana of Worldsensing, into the network.

The International Selection Panel (ISP) is the culmination of a rigorous multi-step selection process. At the ISP, top local and international business leaders interview candidate companies about their businesses and high-impact potential, and then vote on whether or not the candidates should become Endeavor Entrepreneurs.

“This was our largest panel ever and resulted in one of the most diverse classes of high-impact entrepreneurs selected by Endeavor,” said Endeavor co-founder and CEO Linda Rottenberg. “Not only are they innovating economies from Chile to Greece and Saudi Arabia to Indonesia, they are showing the world that excellent talent and big ideas can thrive anywhere with the right mix of support and mentorship.”

After their selection into the network, Endeavor provides the entrepreneurs with customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. Endeavor Entrepreneurs have had an impressive track record of creating jobs, building sustainable growth models, and inspiring future generations of leaders in their home countries.

This ISP was supported by Barclays and EY, both global sponsors of Endeavor. Barclays welcomed the entire panel to their New York offices for orientations and for interview day on August 12th.

Endeavor will be hosting two more ISPs in 2014. Locations will be Istanbul, Turkey and Miami, FL. Brief descriptions of the newly selected entrepreneurs and companies follow.


ISP Attendees at Barclays’ offices


Entrepreneur: Emiliano Kargieman

Company: Satellogic (www.satellogic.com)

With a product that is out of this world, Satellogic is bringing space down to earth. Before Satellogic, the earth observation market relied on multi-million dollar, monolothic hardware incapable of real-time data streaming. Satellogic is building a constellation of inexpensive, mass-produced nano-satellites that disrupts this paradigm. With a fully deployed constellation, Satellogic will be able to provide commercial-grade resolution images in real-time data streams, at the fraction of the current cost, thus reducing barriers to obtain real-time satellite data and democratizing access to space-based services. The result is an endless universe of possible applications, from estimating revenue by tracking cars in a supermarket parking-lot, to detecting developing forest fires. Satellogic will transform Big Data from Space into a fundamental part of daily decision making for all branches of government, organizations, industries, and individuals.


Entrepreneurs: Matias Sjogren, Rafael Concha

Company: BioFiltro (www.biofiltro.cl)

BioFiltro has harnessed the power of mother nature to create an energy-efficient, chemical-free, low-cost, and odorless wastewater treatment technology. Known as BIDA (BioFiltro Dynamic Aerobic), BioFiltro’s patented bioreactors use earthworms and bacteria to treat industrial wastewater without the use of chemicals and at 80% less energy than conventional systems. BIDA transforms wastewater into clean water for agricultural use in one-eighth the time, 30% the CapEx, and 70% the OpEx of traditional technologies. BioFiltro’s expansion into some of the most regulated markets has impacted the way wastewater is filtered and influenced public perception to thinking of wastewater as a resource.

Entrepreneur: Gonzalo Muñoz

Company: TriCiclos (www.triciclos.cl)

Reduce, recycle AND recurring revenue is TriCiclos’ mantra. With developed countries increasingly implementing extended producer regulations (EPR), the responsibility for waste management has shifted from municipalities to the very corporations that generate the waste – not that most Latin American governments offer recycling collection services to begin with. By providing Clean Points (CPs) – recycling stations where individuals can deposit recyclable consumer materials – and managing waste management logistics efficiently, TriCiclos is not only the most reputable post-consumer recycling company in Chile, but also the only one capable of tracking and monetizing EPR compliance. The CPs – 40-foot metal containers capable of receiving, processing and compacting up to 25 different types of materials – are placed in companies’ parking lots or municipal areas. They are forty times cheaper and 20% more efficient than other recycling platforms in Chile because of the sophisticated pre-processor unit. Notably, TriCiclos is the only company in Latin America that is a “B Corp” and can certify that over 90% of materials put into its social clean points will actually be recycled.


Entrepreneur: Chris Khalifa

Company: Zooba (www.zoobaeats.com)

If you think food trucks are the hottest new craze, it’s time for a history lesson: Egyptians have been rolling their wooden food carts around the dusty streets of Cairo for decades. Unlike their Lebanese and Turkish counterparts, Egyptians have struggled to make traditional foods relevant and trendy, resulting in a national cuisine that is underserved locally and nonexistent globally. Zooba is the first restaurant chain to give classic Egyptian street foods a gourmet twist, a concept delivered through a social dining atmosphere designed to appeal to Egyptians’ shared sense of community. With three thriving locations throughout Cairo, founder Chris Khalifa is ready to expose the world to his local cuisine.

Entrepreneurs: Rawiah Abdallah, Mostafa Saeed

Company: Qabila (www.qabila.tv)

Qabila is an Egyptian alternative media studio founded to provide value-based and entertaining content that explores society’s most pressing issues in a fun and accessible way. The company began in the throes of the Egypt’s 2010 Revolution, when 15 friends banded together to create videos that explained democratic principles in entertaining Youtube videos. These videos quickly amassed a following, and earned the attention of some of the region’s most prestigious institutions, such as multiple UN agencies, the Arab League, and the Ford Foundation, who hired Qabila to produce public service announcement videos (PSAs) about issues like youth empowerment, environmental health, and sexual health. With its PSAs, short documentaries and feature-length documentaries, Qabila’s productions is on its way to consolidating its position as the leader for value-based content in the region.


Entrepreneur: Thomas Douzis

Company: Ergon (www.ergonfoods.com)

Leveraging a network of over 150 independent, local, artisanal producers that create 600 products under the unified Ergon brand, Thomas Douzis, is reintroducing Greeks and foreigners alike to delicious Greek gastronomy. Since Greek cuisine is as much about people coming together over food as the food itself, Ergon created a line of affordable-luxury restaurants that are combined with functional grocery stores. The menu, created by executive chef Dimitris Skarmoutsos, previously a judge on the show Greek Master Chef, has been meticulously crafted with Ergon products to offer diners authentic recipes with a modern twist.


CEO Linda Rottenberg moderating deliberations


Entrepreneur: Antonius Taufan

Company: GiftCard Indonesia (www.giftcard.co.id)

In the game of cards, Gift Card Indonesia (GCI) is holding a royal flush. In Indonesia, corporate gift-giving is customary but unimaginative; companies seeking to reward their stakeholders struggle to do so in a way that is personalized and professional. GCI is redefining the gift-giving experience by creating end-to-end solutions for the burgeoning gift card ecosystem in Indonesia. In two short years, founder Antonius Taufanhas acquired some of Indonesia’s most prominent corporate clients who are seeking to distribute gift cards to reward their employees and stakeholders. While Taufan is leading a new way to incentivize corporate stakeholders in Indonesia, he has always set his sights on building an ecosystem for gift cards and alternative payments, primarily targeting the unbanked population.


Entrepreneur: Khalil Shadid

Company: ReserveOut (www.reserveout.com)

Before Khalil Shahid’s ReserveOut system revolutionized the way restaurants in the Middle East took reservations, customers had to call and request a time or risk showing up and  waiting for a table.ReserveOut’s electronic reservation booking and customer management system offers restaurants software to help them efficiently manage and record customer reservations, touchpoints, and preferences. The ReserveOut web and mobile applications enable online and mobile users to easily search and immediately reserve with venues that are part of the ReserveOut network.


Entrepreneur: Omar Christidis

Company: ArabNet (www.arabnet.me)

Want to catch the latest digital trends in the Middle East? Try ArabNet. In a region that boasts the highest growth rate of Internet usage in the world (16.7% according to the European Travel Commission), the digital economy presents a tremendous opportunity. To realize this potential, entrepreneurs, investors and digital professionals need to connect with and learn from each other. ArabNet serves as the platform to connect these stakeholders through its annual conferences, regional competitions, and online portal. With over 7,000 unique attendees of its events, ArabNet has established itself as the premier platform for everything digital in the Middle East.

Entrepreneur: Hind Hobeika

Company: Instabeat (www.instabeat.me)

Instabeat is the first and only display monitor that mounts on the straps of any swimming goggles, allowing swimmers to monitor their heart rate in real time through a color coded display on the interior of the goggles. The device is small, creates minimal friction with water, and provides key information without having the swimmer lose focus. Hind sees the technology as applicable to athletes beyond swimmers and plans to launch a Triathlon version (which would attach to sunglasses) in 2015. Having filled a gap in the global wearable technology industry, estimated to reach US$50B by 2018, Instabeat is in a position to scale rapidly.


Entrepreneurs:  Wai Hun See, John Lim, Naaman Lee

Company: Juris Technologies (juristech.net)

There are few businesses more recession-proof than the business of debt. Born from the debt recovery challenges facing banks during the 1997 Asian financial crisis, Juris Technologies developed an end-to-end software solution for the credit management process. In a market in which credit has been rising sharply for five consecutive years, Juris eases the burden on financial institutions by offering a complete suite of solutions that allows them to evaluate customers, approve loans, and recover debt. Because credit management requires active, ongoing collaboration between multiple players, Juris has created software platforms that encourage and facilitate external collaboration among all parties while layering onto existing systems and infrastructure.


Entrepreneurs: Tanya Moss, Eduardo Stolkin

Company: Tanya Moss (www.tanyamoss.com)

Tanya Moss puts the joy is joyas. Symbolized by its iconic butterfly motif, Tanya Moss jewelry lines are sophisticated accessory options for the modern woman, combining timeless taste with a modern edge. Tanya Moss products are made with premium quality materials, including precious metals and semi-precious stones. The brand is widely recognized by its iconic butterfly motif, which symbolizes the fun yet elegant designs that ensure the modern-day woman exudes confidence and style.

Entrepreneur: Carlos Frigolet

Company: Purafiltracion (www.purafiltracion.com)

Poor air in a New York subway station on a summer’s day is disgusting. Poor air in a control room of an offshore drilling rig is a multimillion dollar disaster waiting to happen. Many plants, particularly those in the Oil & Gas and Power Generation industries, release corrosive chemicals. If these chemicals enter the control room, they can damage and rust electronics leading to short circuits, the potential shutdown of the entire plant and possibly even deadly explosions. Purafiltracion sells systems that eliminates 99.5% of gas pollutants, ensuring clean air and extending the lifetime of the control rooms from six months in a harsh environment to 10 years. It also sells systems that maintain ideal temperature and humidity conditions in control rooms preventing equipment failures. With these systems, plant workers can finally breathe easy (and cleanly) at night.

Entrepreneur: Adolfo Babatz

Company: Clip (payclip.com)

With Clip, you’ll never have to tell a customer you don’t take their credit card again! Clip allows Mexican businesses to replace outdated POS systems with a sleek and easy-to-use piece of hardware that accepts any credit and debit card. The device seamlessly connects with an operator’s smart phone or tablet by fitting into the headphone jack of an iOS or Android device. The operator opens the free Clip app, enters the amount to be charged, and Clip charges a 3.6% transaction fee or 4.6% on installation payments. The reader is the first version in Mexico that includes a patented fraud protection program and chip reader, which is critical to the Mexican market, and Clip is only one of two companies in the world to have its own proprietary design for the reader (the other is Square).


Entrepreneurs: Michael McCord, Michael Laas

Company: LearnerNation (www.learnernation.com)

Michael Laas and Michael McCord are disrupting the corporate training market by making learning awesome in six languages with LearnerNation, a cutting-edge, cloud-based, adaptive learning platform with patent-pending technology. The e-learning platform is intuitive and offers progressive teaching tools, which increases information retention and performance. Counting MasterCard, LG, and Cartier as clients, LearnerNation is poised to be a breakout success story for the burgeoning tech ecosystem in Miami. With the global market spending an estimated US$62B on corporate training, LearnerNation has the opportunity to quickly gain market share and be a globally accessible platform.


Candidates’ Day at GLG Group


Entrepreneur: Lateefa Alwalaan  

Company: Yatooq (yatooq.com)

Yatooq, a Saudi Arabian company founded by Lateefa Alwalaan in 2011, makes it easier and faster to brew Arabic coffee, a spicy coffee central to all social gatherings in places like Saudi Arabia, Bahrain, and the UAE. When made traditionally, Arabic coffee takes 20-30 minutes to prepare and requires over ten steps, and numerous ingredients to complete. Yatooq’s coffee brewer and Arabic coffee blend reduce brew time (75%) and effort required while consistently producing delicious Arabic coffee. With Lateefa’s selection, Endeavor Saudi Arabia would welcome its first female entrepreneur to its portfolio, an exciting addition who could serve as an inspiring role model for the country’s entrepreneurial ecosystem.

Entrepreneurs: Kaswara Al Khatib, Soraka Al Khatib

Company: UTURN (uturn.me)

From satire to soaps, Uturn provides the entertainment Saudis really want. Uturn is a multi-channel network that produces and features local Saudi content, creating an online viewership community spread across several social media channels. Its original and aggregated content fills a void in the many a country where the traditional, government-controlled state broadcasters have failed to engage a young audience. Its award-winning content includes two of the longest running online shows in Saudi, engendering a devoted viewership of 2 million subscribers and followers – the largest in the region.


Entrepreneurs: Dave Evans, Grant Rushmere

Company: BOS Brands (www.bosicetea.com)

All too often consumers are forced to choose between a healthy beverage and a delicious exciting brand. BOS Brands, a beverage business based in South Africa, offers consumers stylish, premium beverages that taste great without compromising on health. Harnessing locally produced rooibos as the main ingredient in its two beverage lines, BOS Ice Tea and BOS Sport, all products are high in health benefits, low in sugar, and contain no caffeine, colorants, or preservatives.


Entrepreneur: Ignasi Vilajosana

Company:  Worldsensing (www.worldsensing.com)

Worldsensing is pioneering the Internet of Things. With smart sensors that improve traffic management and infrastructure maintenance, Worldsensing has brought to the industrial and public sectors an efficient, easy method of data capture and analysis. Its traffic solutions help city administrators manage traffic and pedestrian movement, while industrial solutions support both safe infrastructure maintenance and seismic pipeline monitoring. It has integrated sensors in iconic cities and infrastructures around the world, including the streets of Moscow, Barcelona’s olympic stadium, and Stockholm’s main commuter train.  Named by the BBC and the Wall Street Journal as one of the companies to watch in the Internet of Things space, and highlighted in the European Commission’s Business Innovation Observatory report on Smart Living, Worldsensing’s groundbreaking technology will transform cities around the world.


Entrepreneurs: Başak Taşpınar Değim, Erol Değim

Company: Armut.com

Armut.com is Turkey’s first online market place connecting users and service providers. It features trustworthy, reviewed professionals who offer reliable price quotes. Armut is a pioneer for Turkey, and has innovated the global model by developing a proprietary algorithm that automates the service provider vetting system and user-provider matching process.


Entrepreneurs: Shahriar Khodjasteh, Shahin Khodjasteh

Company: Dubai Desert Extreme (DDE) (www.dde-me.com)

Dubai Desert Extreme (DDE) is a distributor and retailer of sporting goods in MENA. The company has exclusive distribution rights with major sports brands, including Giant, Topeak, New Era, and Volcom. DDE also sells this merchandise in its own retail stores in the UAE. In 13 years, the company has not only brought the biggest names in athletic apparel and equipment to MENA but also generated interest and involvement in sports in the region.

August 2014 Newsletter

August News InstagramTo view Endeavor’s August newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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