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Brazil’s Bebê Store Announces Acquisition of Competitor Baby.com.br; Receives Investment From Endeavor Catalyst

Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the region. In addition, the company successfully raised a $12.3 million […]

July 24th, 2014 — by admin

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Endeavor Uruguay Spotlights Entrepreneur’s Multiplier Effect, Featured in El País

Endeavor Uruguay recently published a map of Endeavor’s Multiplier Effect in the country, highlighting the local entrepreneurship ecosystem and the contributions of Endeavor Entrepreneurs. Published as part of Uruguay’s 2013 Impact Report, the map focuses on the impact […]

May 28th, 2014 — by admin

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Endeavor launches a second Southeast Asian country affiliate in Malaysia

Malaysia Logo (small)Endeavor announced this month that it will add to its presence in Asia with the launch of its 2nd Asian affiliate in Malaysia.  The launch is supported by some of Malaysia’s most influential entrepreneurs and corporate heads and was announced during the 4th Annual Global Entrepreneurship Summit, hosted this year by the Malaysian government in Kuala Lumpur October 11 – 12.

With a population of 27 million, one of the smallest in the region, Malaysian entrepreneurs with significant growth potential must look outside their home country for growth opportunities. Operating in 18 countries around the world, Endeavor is poised to assist Malaysian entrepreneurs get the world class support they need to scale their businesses globally.

Recent trends show signs of optimism from entrepreneurs. Malaysia’s rate of early-stage entrepreneurial activity, while still one of the lowest among efficiency-driven economies, has grown from 4 to 7% (2009-2012).  According to the Global Entrepreneurship Monitor, the fear of failure rate has fallen from 65% to 36% in the same time period.  Under the ‘New Economic Model’ (NEM) for Malaysia, the Prime Minister has made entrepreneurship the key driver of the economy for the next 10 years with special emphasis on innovation and the entrepreneurial drive of its citizens.

“We are excited to build on the existing positive momentum from the private & public sectors by focusing on what we do best,” said Endeavor co-founder and CEO Linda Rottenberg. “Endeavor helps unleash the tremendous social and economic value of High-Impact Entrepreneurs.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues.  Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that will catapult them to success.

In the past 16 years Endeavor has selected 844 high-impact entrepreneurs from 15 countries around the world in Latin America, Africa, the Middle East, Turkey, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs.

All Endeavor affiliates are spearheaded by a local board of leading business people; each of whom believes that high-impact entrepreneurship can transform economies.  The Endeavor Malaysia founding board will be chaired by Afzal Abdul Rahim, CEO of TIME.  He will be joined by Mark Chang,  Founder & CEO of Jobstreet.com; Tony Fernandes, Founder of Tune Group; Nazir Razak, Managing Director & CEO of CIMB Group; Shahril Shamsuddin, President & CEO of SapuraKencana Petroleum; Brahmal Vasudevan, Founder & CEO of Creador; Wong Thean Soon, Co-founder & Managing Director of My EG Services.

“As an entrepreneur, I know how important mentorship can be,” said Board Chairman Rahim. “Endeavor can provide valuable support to Malaysia’s next generation of high impact entrepreneurs.”

The board has nominated Zaman Ahmad as Managing Director, overseeing the successful launch of Endeavor Malaysia. Mr. Ahmad previously served as an executive at Air Asia Bhd. He will lead the day-to-day operations of the Endeavor office in Kuala Lumpur and will be involved in screening the first entrepreneur candidates for consideration.

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Endeavor Entrepreneur Companies Cited for Innovation: Jorge Soto’s Data4 Named Technology Pioneer by WEF China; Facebook Gives an Innovation Award to SocialWire

Endeavor Entrepreneur Jorge Soto‘s company Data4 (previously known as CitiVox) joined the 2014 Class of Technology Pioneers, an award organized by the World Economic Forum in China.  This is the first time a Mexican company has won this prize, which is granted to entrepreneurs building unique business solutions rather than adaptations.  Soto, whose business focuses on empowering citizens to communicate with municipal authorities through social media tools, was recently asked to join the administration of Mexican president Enrique Prieto Nieto to build a national digital strategy for Mexico.  “I’m going to learn to try to effect change from within,” says Soto.  “For now I hope to elevate the level of discussion.”

Meanwhile, Endeavor Turkey Entrepreneur Company Socialwire announced that it’s latest product, Dynamic Product Ads, received a Product Marketing Design Innovation Award from Facebook.  “We are thrilled about this recognition,” said Endeavor Entrepreneur and Socialwire founder Selcuk Atli.  “Our true validation has come from seeing some of the world’s largest e-commerce companies signing up to run evergreen campaigns with SocialWire, but the recognition from Facebook tells us that we share a vision for making social advertising more automated and predictable.”

socialwire

Endeavor Insight joins the Kauffman Foundation and the World Bank in founding the Global Entrepreneurship Research Network

In the last few years, many policymakers and business leaders have recognized that high-impact entrepreneurship is critical for job creation, economic growth and innovation. While the increased focus on entrepreneurship is great news, it is clear that more research is needed to understand how leaders can best support growing companies in their cities and countries.

Last Friday U.S. Secretary of State John Kerry announced the creation of the Global Entrepreneurship Research Network (GERN), which was co-founded by the Kauffman Foundation, the World Bank and Endeavor Insight to standardize data and work to gain a better understanding of policy barriers and what the right policies are for fostering entrepreneurship. In addition to the key founding partners, a number of other organizations have joined in this initiative. They include the Allan Gray Orbis Foundation, the Argidius Foundation, the Lemelson Foundation, MaRS Data Catalyst, Nesta, Omidyar Network and the Rockefeller Foundation.

The research network will engage in the following activities:

• Support research that advances the network’s goals;
• Translate research into policy actions; and
• Generate lessons and insights for entrepreneurs and programs.

Next steps include:

• Sharing a research agenda that will guide the activities and decisions of the network;
• Identifying researchers and programs for collaboration;
• Organizing events that allow participants and others to come together and advance the network’s goals.

At Endeavor, we believe that these activities will be critical in creating more support for high-impact companies across the world and we look forward to joining our fellow founding organizations in advancing this important work.

 

At7Addak Relaunches Site and Traffic Explodes: New Partnership Program Helps MENA Game Creators And Reviewers Monetize Their Content

 

Endeavor Lebanon entrepreneur Brahms Chouity recently relaunched his gaming oriented website, at7Addak, to enormous positive response in the MENA region.  The site is a leading aggregator of Arab-language video games plus gaming reviews and articles for over 500,000 Arab gamers, with 80% of traffic coming from GCC countries (Jordan and the Gulf States). Since relaunch the site has received upwards of 40,000 daily visitors.

The new at7Addak features high-quality editorial and video content, created by a network of over 500+ collaborating Editors and Video Creators assuring comprehensive coverage of the world of gaming.  Most important, at7addak has developed a unique incentive-based Partnership Program which gives content creators a platform to create articles and videos, promote their material, and fully monetize their content. Depending on the level of traffic they generate, partners are paid every month directly to their bank accounts or credit cards.  This is a major step towards helping gaming innovators in the region make money for the very first time.

With the relaunch, at7addak has also positioned itself as a bridge for advertisers and corporate clients to work directly with gaming developers and content editors in the region, creating opportunities for promotion and product placement among a hard to reach but valuable demographic in the MENA region.   For an introduction to the world of MENA gaming,  click on the video link to see a presentation on the new site or view video below.

 

eMBA 2013 Field Report: Still questioning why the local David wins so often against the international Goliath? Here’s one reason why.

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 Jessica Chen, a member of the Harvard Business School Class of 2013, who spent the summer working with Endeavor Entrepreneurs at Brazil’s Acesso Digital:

Acesso Digital is a São Paulo-based startup focused on moving Brazil’s paper culture into the cloud. They count some of Brazil’s premiere institutions, such as Itaú, among their clients. This summer, fresh after graduating from HBS, I jumped on a plane to Brazil, excited to work with the company and see their product.

Upon landing though – I have to be honest – I wasn’t particularly impressed. Acesso Digital’s product combines a basic document management/workflow tool with Kodak scanners that they send to clients’ branch offices across Brazil. In my experience working in the US, I had seen document management products that were leagues ahead in technological sophistication, but I also knew that those companies had tried to enter Brazil and failed. What on earth was going on?

To answer that question, I need to rewind to the company’s founding. In addition to their document management solution, Acesso Digital has an even more ambitious second mission – to become the best place to work in the world, bar none. With this dream in mind, the company leaders encouraged each of their employees to pursue their own dreams, whether it is to travel, to get in shape, or to develop professionally. Today, Acesso Digital is less a company and more a team, comprised of every employee at the company, from CEO to housekeeper, who continuously support, push, and celebrate each other, both inside and outside the workplace. That’s pretty impressive for a company that’s now well over a hundred employees, not to mention pretty impossible for other companies to replicate.

This concept of fulfilling dreams translates further into a deep understanding of customer pain points, which results in a product that is designed to make clients’ lives fundamentally better. That is one of the key reasons for the company’s success in the Brazilian market.

Let me explain.  My project involved recommending new product opportunities. In pursuit of this goal, I worked with another eMBA intern to think of solutions for unsolved customer pain points that optimized the company’s existing strengths. We met with clients across a slew of industries and were given the license to ask any question. They spoke with surprising candor and I began to understand Brazilians – how they live, work, play, and struggle on a daily basis. I began to speak Portuguese and understand the nuances of the language, how common Portuguese words that have no English translation define Brazilian culture. I began to understand the impact of the government in all industries and why Brazilians protest to make the government more accountable to the people.

I began to understand Acesso Digital’s clients as they do. Customers don’t need bells and whistles (and the associated price tag) to solve the fundamental pain of dealing with paper, of waiting forever for the postal system and losing critical information, of losing money to fraudulent identification documents. Unlike US multinationals exporting a product, Acesso Digital created a solution for their clients that simply made their lives better.

It was only after taking the time to observe and to listen that I could make an impact myself. I realized the areas where my US work experiences overlapped with the Brazilian business environment and started sharing best practices and making observations on how the company might improve. On their part, Acesso Digital was eager to learn and gave us incredible flexibility in doing our work; it was pretty amazing. For example, I came up with an idea in the shower one morning to host an ideation session utilizing the diverse talent across the company, and by the following morning, we had over a hundred new product ideas on yellow sticky notes.

Acesso Digital opened my eyes this summer and in so doing, enabled my dream as well. I originally thought it was by happenstance, but now I realize it’s the company’s secret – they are an insidious dream-fulfilling machine. My dream, both personally and professionally, has always been to experience amazing adventures. I’ve found no better way to accomplish this than to work around the world – adapting to new cultures, meeting new people, thinking innovatively about new challenges. And for me, the best measure of how worthwhile an adventure is how much is learned by the end of the experience. Never in my life had I experienced a learning curve so steep. I’m incredibly thankful to Acesso Digital in helping me grow as a professional and as a person, and so much saudade for the friends made and the lessons along the way.

 

Endeavor Hosts 50th ISP: 26 High-Impact Entrepreneurs from Argentina, Brazil, Chile, Colombia, Egypt, Lebanon, Mexico, Saudi Arabia and Turkey Join the Endeavor Network

Palo Alto, CA – October 11, 2013 – Endeavor selected 26 High-Impact Entrepreneurs at 16 companies from Argentina, Brazil, Chile, Colombia, Egypt, Lebanon, Mexico, Saudi Arabia and Turkey at its 50th International Selection Panel. Endeavor now supports 844 High-Impact Entrepreneurs from 538 companies in 16 emerging and growth market countries. The entrepreneurs were chosen at a panel held from October 7 – 9 on the campus of the Stanford Graduate School of Business in Palo Alto. Panelists ranged from Silicon Valley venture capital executives to business leaders from 10 countries drawn from Endeavor’s extensive global network.

“We originally started Endeavor to bring some of the Silicon Valley magic to the far corners of the world,” said Endeavor co-founder and CEO Linda Rottenberg. “It’s gratifying to bring some of the entrepreneurial magic we have discovered in those regions back to the Valley for a special sort of mash up.”

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 candidates about their businesses and high-impact potential, and then vote on whether or not candidates become Endeavor Entrepreneurs. Post-selection, Endeavor provides entrepreneurs with customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms. Endeavor Entrepreneurs have had a significant track record of creating thousands of jobs and building sustainable growth models in their home countries.

Endeavor will host its final 2013 Selection Panel in Dubai, UAE, December 10 – 12, 2013.

Brief descriptions of the selected entrepreneurs and companies follow.

FROM LATIN AMERICA:

ARGENTINA

Entrepreneur: Vanesa Duran
Company: Vanesa Duran Joyas (www.vanesaduran.com)
Description: Over the past ten years, Vanesa Duran has built a multi-million dollar jewelry company that takes advantage of a powerful, direct selling model to empower women and provide middle and lower income consumers throughout Argentina with access to quality jewelry. The company offers two product lines: The hallmark brand, Vanesa Duran Joyas, and a more affordable alternative for daily use, Oversize Markets.

BRAZIL

Entrepreneur: Joaquim Caracas
Company: Impacto Protensao (www.impactoprotensao.com.br)
Description: Impacto is laying the groundwork for a greener Brazil by developing reusable, sustainable, and easily-assembled construction products. Using an innovative technique called “post-tensioning,” Impacto fuses recycled plastic concrete slabs into flooring and uses 85% less wood than traditional methods in the process. Since its founding in 1996, Impacto has signed industry-leading Odebrecht and ArcelorMittal as clients and has registered 17 patents. Looking ahead, Joaquim plans to expand the company’s use of recycled plastic to new construction challenges.

Entrepreneur: Leonardo Simão
Company: Bebê Store (www.bebestore.com.br)
Description: The largest baby e-commerce retailer in Brazil, Bebê Store offers parents a unique online shopping experience by guaranteeing a wide selection of high quality products, terrific customer service, affordable shipping, and a flexible return policy. With industry leading revenues, customer service, and product selection, Bebê Store is on track to become the largest and most efficient online retailer of baby products in South America.

CHILE

Entrepreneur: Eduardo Cretier
Company: International Quality Systems
Description: International Quality System (IQS) saves industrial companies time and money by diagnosing and eliminating static equipment failures in large-scale production processes predominantly in the pulp and paper industry. This not only allows for improved operational reliability, but also minimizes industrial plant “down time” through nontoxic diagnostic x-ray machines that can run while plant workers are present. Their proprietary software reduces overall maintenance costs by identifying future maintenance needs to avoid emergency plant shutdowns, factors which greatly improve client production and profitability. IQS counts some of Chile’s largest cellulose companies as clients.

Entrepreneurs: Javier Sainz, John Alarcon
Company: Prodalysa (www.prodalysa.cl)
Description: Prodalysa’s groundbreaking technology extracts a 100% natural sugar alternative from stevia plants. The company sells two core stevia products: a pure stevia extract that can be adapted for industrial use and a pre-mixed blend stevia extract for commercial products. Prodalysa has already captured 80% of Chile’s stevia market and has pioneered the extract’s usage in new industries, like dairy. Javier and John are in the process of developing a private label option in sachet, tablet, and bottle form.

COLOMBIA

Entrepreneurs: Alex Torrenegra, Tania Zapata
Company: Bunny Inc. (www.voicebunny.com; www.voice123.com)
Description: Bunny Inc. is making a lot of noise in the voice casting market, disrupting the way voice actors and buyers connect. Before, the process of finding voice actors for a project took weeks and could cost thousands of dollars. Today, thanks to Bunny Inc’s VoiceBunny and Voice123 online platforms, buyers anywhere in the world can find professional voices in less than ten minutes. By dramatically lowering the cost and time to acquire a voice, Bunny Inc. is opening the market to many new applications for professional voices.

Entrepreneurs: Ricardo Ortiz, David Ortiz
Company: SIIGO (www.siigo.com)
Description: No business is too small for SIIGO, an Endeavor Colombia company looking out for the little guys. SIIGO’s financial, accounting and management software enables small businesses to better manage their financial information and increase efficiencies while minimizing costs. The company offers competitive pricing while promising agile product innovation capabilities through iSiigo, its integrated cloud based business management solution.

MEXICO

Entrepreneurs: Javier Lozano, Fernanda Zorrilla
Company: Clínicas del Azúcar (www.clinicasdelazucar.com)
Description: Diabetes has reached epidemic proportions in Mexico, with 70,000 deaths attributable to the disease each year. Clínicas del Azúcar (Sugar Clinics) seeks to turn these alarming statistics around, offering specialized, affordable diabetes care to low to middle income patients who otherwise would go under- or untreated. With its one-stop shop model, Clínicas has reduced patients’ annual costs by 75%, lowered their diabetes complication rates by 60%, and increased adherence to treatment by 1300%.

Entrepreneurs: José Akle, Sebastían Barrios
Company: Yaxi (www.yaxi.mx)
Description: Yaxi is a taxi hailing app for iPhone and Android that instantly connects passengers in Mexico City with taxis that are screened for quality, tracked for safety, and technically equipped for optimal route and payment efficiency. By working with ordinary taxis and charging passengers a low $1 commission fee, Yaxi brings quality, safety, and convenience to the masses at less than half the cost of black car hailing services, while significantly increasing driver earnings. Yaxi is already the #1 taxi hailing app in Mexico City, and is positioned to extend its lead across the region.

Entrepreneur: Carlos M. Anaya Rodríguez
Company: Parquimóvil (www.Parquimovil.com)
Description: The traditional parking meter- an outdated 73-year old machine- is calling for a new solution. Parquimóvil is rejuvenating this outdated infrastructure by providing a virtual parking registration system distributed through mobile phones and authorized retailers. Parquimóvil enables municipalities to avoid the installation and operational costs of parking meter infrastructure while simultaneously collecting data to improve public safety and urban planning. With Mexico ranking top on the “commuter pain” index, Parquimóvil removes commuter frustration associated with locating and paying for a parking spot.

Entrepreneur: José de Jesús González Macín
Company: Barared (www.barared.mx)
Description: Founded in 2006, Barared caters to the underserved market and in doing so is reinventing micro-commerce in Mexico. Barared offers the base of the pyramid population in Mexico access to essential services ranging from mobile phone top-ups to bank transactions in a convenient and affordable manner. The company has installed over 1,000 kiosks in “mom and pop” shops across Mexico City where customers can perform transactions without visiting banks and other government offices which are often located at a great distance from the customer.

Entrepreneur: Jose (Pepe) Islas, Jose Bezaury, and Antonio Vilches
Company: Grupo Archipielago (http://www.archipielagocorp.com/)
Description: Before 2009, entertainment options for hip young professionals in Mexico City were limited to large, crowded, and expensive clubs that delivered a single, formulaic experience. Today, trendsetters can be found scattered across a series of cutting-edge “islands” – venues distinct in concept but united by the creative vision of Grupo Archipielago. Grupo Archipielago offers unique, alternative experiences across a portfolio of restaurants and bars.

FROM THE MENA REGION:

EGYPT

Entrepreneur: Amr El Tayeb
Company: Smart Care Medical Services (http://smart-medicalservices.com/services.html)
Description: Smart Care offers corporate clients customized and discounted health care plans with access to over 400 health care providers (hospitals, clinics etc.). Smart Care educates clients’ employees about the plan, manages the revision process, and provides extensive customer service to beneficiaries, clients, and providers alike. For those not on a corporate healthcare plan, Smart Care provides discount medical cards.

LEBANON

Entrepreneurs: Eddy Maroun & Elie Habib
Company: Anghami (www.anghami.com)
Description: Anghami is a music streaming mobile application that offers music enthusiasts the opportunity to listen to a wide variety of Arabic and English tracks from the convenience of a mobile phone. Anghami’s music library features licensed content from leading Arabic labels such as Rotana and Mazzika, as well as from major international labels including Sony, Warner, and Universal. With the music streaming market valued at US$1 billion and growing, Anghami is well poised to capitalize on the trend in the underserved MENA market.

SAUDI ARABIA

Entrepreneurs: Amr S. Al Madani, Saeed Atef Saeed
Company: TalentS (www.talents.edu.sa)
Description: TalentS is working to improve the quality of science, technology, engineering, and math (STEM) education throughout Saudi Arabia. TalentS has developed creative, hands-on, and engaging methods for teaching STEM at robotics competitions and science fairs. The entrepreneurs are now applying their expertise to additional STEM-related learning opportunities, including managing STEM museums, designing exhibits, organizing corporate social responsibility events, and training teachers and students.

TURKEY

Entrepreneurs: Ömer Paksoy, Onur Tekinturhan
Company: Konut Kredisi (www.konutkredisi.com.tr)
Description: Konutkredisi.com.tr (Turkish for “home loan”) is the country’s first online loan brokerage platform, offering both mortgage and unsecured personal loan products from 16 of Turkey’s 21 major banks. Konutkredisi has become an important partner for borrowers and lenders alike. As Turkey’s home loan market is still emerging, Konutkredisi’s platform seeks to educate consumers in addition to allowing them to transparently compare products. At the same time, Konutkredisi has helped banks improve conversion rates and find new customers.

October 2013 Newsletter

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

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

 

2013 Endeavor Entrepreneur Summit Video: Jenn Lim on Delivering Happiness the Zappos.com Way

Jenn Lim is the CEO and Chief Happiness Officer of Delivering Happiness, a company she and Tony Hsieh (CEO of Zappos.com) co-founded to inspire science based happiness, passion and purpose at work, home and everyday life. In 2010, Jenn led the launch and management of Tony’s first book (Delivering Happiness) which has sold over 460,000 copies worldwide. Today, she’s dedicated to growing the Delivering Happiness movement so we can all pay happiness forward — knowing if we create happier companies/communities/cities, we can make this a happier world.

 

0:04 On What Creates Happiness for our Lives

5:22 What Would You Do Without the Fear of Failure?

7:21 Priorities at Zappos: Company Culture and Customer Service

10:55 Lessons from Zappos: Commitment, Core Values, Transparency, Vision, Relationships, Building the Right Team

18:07 Employing the Science of Happiness at Zappos

22:37 Delivering Happiness in Action

 

Endeavor and Arvento Win People’s Choice Stevie® Awards

On the heels of its Bronze Stevie® Award, Endeavor was named the People’s Choice Award winner for Favorite Company- Non-Profit or Government Organizations Category- in the 10th Annual International Business Awards.

Endeavor Turkey Company Arvento Mobile Systems also received a People’s Choice Award for Favorite Company- Computer Hardware & Electronics Category. Founded by entrepreneur Özer Hıncal, Arvento has sold its vehicle tracking and fleet management software to over 23,000 customers.

More than 15,000 votes were cast in this year’s People’s Choice Stevie® Awards for Favorite Companies, a feature of The International Business Awards, the world’s premier business awards competition.  The International Business Awards are one of five awards programs organized by the Stevies.   All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. 

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the W Hotel in Barcelona, Spain on 14 October.

Veramiko named “Entrepreneurs of 2013″ by CNN Expansión

Vidal Cantu and Guillermo Farias, the founders of Veramiko, were named “Entrepreneurs of 2013″ by leading Mexican business magazine CNN Expansión. As part of this honor, Vidal and Guillermo were featured on the cover of Expansión’s May 2013 edition. To see more information on the magazine’s website, click here.

Founded in 2006, Veramiko’s signature product is InTeam.com, an integrated intranet solution designed to foster workplace collaboration. InTeam.com has all of the features of social networks, such as profiles, “walls”, and news feeds, plus specialized business applications including project management tools, file sharing, wikis, and groups.

Vidal and Guillermo were selected by Endeavor at its December 2012 International Selection Panel in Miami.

 

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