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Three Keynote Speakers Announced for the 2015 Endeavor Entrepreneur Retreat

The invite-only 2015 Endeavor Entrepreneur Retreat will take place May 6-8 in Westchester, NY. Three top-tier keynote speakers have been confirmed for the event: – Kenneth I. Chenault is Chairman and CEO of the American Express Company. He joined […]

March 2nd, 2015 — by admin

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Argentina’s Fën Hoteles Plans U.S. Expansion with Properties in NYC, LA and Miami

Argentina’s  Fën Hoteles, founded by Endeavor Entrepreneurs Patricio Fuks and Alejandro Frenkel, recently announced that it is planning an expansion across the U.S.  In an agreement with  investment firm Rosental Group, the hotel management company will have 12 new […]

February 27th, 2015 — by admin

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February 2015 Newsletter

SingaporeNewsTo view Endeavor’s February 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.

Save the Date and Register for 2015 Endeavor Entrepreneur Retreat, May 6–8, 2015

2015 Retreat

Register today for the 2015 Endeavor Entrepreneur Retreat! From Wednesday, May 6 – Friday, May 8, 2015, the Endeavor network will convene in Westchester County, New York – home to Fortune 500 companies including PepsiCo and IBM- for an invitation-only conference.

The 2015 Retreat will be similar in format to Endeavor’s 2011 & 2013 Summits, but will have a greater emphasis on peer-to-peer learning. Attendees can expect top-tier keynote speakers, site visits to local companies, industry breakouts, and intensive workshops around everything from human capital to operations.

In addition to the Retreat, Investor Network event in NYC on Tuesday, May 5. Endeavor will also host a series of first-come, first-serve company tours on the morning of the 6th prior to the Summit to Google, IBM and other corporates in the New York Metro area. To sign up and learn more, click on the Retreat registration site.

Endeavor will provide transportation to Westchester from Manhattan on Wednesday morning for those attendees who sign up in advance. Transportation back to Manhattan will be provided- again on a sign-up basis- on Friday afternoon, when formal Retreat activities will end.

Register before March 1st to take advantage of Early Bird rates! Please note that this year’s registration price includes 2 nights accommodation in a double room at the Doral Arrowwood conference center and all meals during the conference.

 

Endeavor Launches Second U.S. Affiliate in Detroit, MI

medium_9178018018Endeavor Detroit Logo (color) web small Detroit, MI – February 9, 2015 – Endeavor is officially announcing the launch of its second U.S.-based affiliate in Detroit, MI. Endeavor Detroit has identified some of the region’s top business leaders and entrepreneurs to join its local board of directors. Antonio Lück has also been selected as Managing Director. As Endeavor’s second entry in the U.S. market following its 2013 launch in Miami, Endeavor Detroit will help usher in a new era of local growth and economic development driven by high-impact entrepreneurship.

The economic challenges faced by Detroit since the financial crisis of 2007-08 have made headlines across the world. With a population of about 700,000, the city has seen a sharp rise in unemployment coupled with economic decline and a dwindling talent pool. Following its landmark municipal bankruptcy filing in 2013, the city has been beleaguered by unemployment rates hovering around 14% – nearly double the national average. The region of Southeast Michigan as a whole has not fully recovered from the financial crisis either, with unemployment rates at nearly 1% above 2007 levels.

Endeavor Insight, the organization’s research team, found that Southeast Michigan suffers from a scaleup gap, with the number of high-growth firms (companies older than three years with at least 20% annual employment growth over the last three years) declining by 50% between 2007 and 2012. Scaleups, however, can be the key engines of sustainable job growth that the city needs. The average high-growth company employs eight times as many people as the average non-high-growth firm, and 35 times as many as the average startup. To return the area’s unemployment rate to 2007 levels, Southeast Michigan will need to fill the job gap by empowering entrepreneurs and ventures that have the potential to create the most high-quality employment opportunities. Learn more about Endeavor Insight’s findings on Detroit’s scaleup ecosystem by clicking here.

Now at a critical crossroads, Detroit is primed for the sort of high-impact entrepreneurship that Endeavor has successfully fostered all around the world. By providing access to a global network of industry leaders, investors and talent, Endeavor’s support can help the best entrepreneurs in the city turn their ventures into businesses that will move the local economy. Endeavor works to take the magic of networks like Silicon Valley and bring it to regions with great ideas and potential, but not necessarily the resources to help founders expand their visions. Once selected into the network, Endeavor Entrepreneurs are connected with strategic mentors and given access to an array of tools that can catapult them to success. Since its founding in 1997, Endeavor has selected and supported over a thousand entrepreneurs representing more than 650 companies in the 22 markets where it operates.

“Detroit right now is in an exciting period of reinvention and growth, driven by a rise in entrepreneurship,” said Board Chairman Cindy Pasky, Founder & CEO of Strategic Staffing Solutions. “Endeavor’s unparalleled global network will equip the city’s best entrepreneurs with the resources they need to aid with ushering in a new era for Detroit.”

“The entrepreneurial talent in Detroit and the broader region is impressive,” echoed Endeavor Co-founder and CEO Linda Rottenberg. “We’re excited to support these companies to scale, stay and multiply their impact by investing, mentoring and inspiring the next generation of local high-impact entrepreneurs.”

All Endeavor affiliates are guided by a local board of business leaders, each of whom believes that high-impact entrepreneurship can transform entire economies. The Endeavor Detroit founding board will be chaired by Cindy Pasky, Founder, President, & CEO of Strategic Staffing Solutions. She will be joined by Gerard M. Anderson, Chairman & CEO of DTE Energy; Dave Egner, Executive Director of the New Economy Initiative and President & CEO of the Hudson-Webber Foundation; Thomas Groos, Partner of City Light Capital; Nate Lowery, Co-founder & CEO of TM3 Systems; Raj Vattikuti, Founder of Altimetrik; and Steven A. White, Chairman & CEO of Detroit Renewable Energy. The launch of Endeavor Detroit was made possible by the commitment and passion of these local board members as well as the support of some of the region’s top institutions and foundations.

“The DeVos Family first met Endeavor a couple years ago and was impressed by a proven track record to catalyze entrepreneurial ecosystems around the world,” expressed Nate Lowery, Co-founder and CEO of TM3 Systems Inc, and Board Member of the Dick and Betsy DeVos Family Foundation and Endeavor Detroit. “While the family has traditionally focused much of its philanthropy in Grand Rapids, taking Michigan’s entrepreneurial ecosystem to the next level will require cooperation from both sides of the state. Our Foundation is thrilled to be a driving force behind Endeavor coming to Detroit and Michigan.”

“From grassroots to high-growth, the New Economy Initiative supports programs that enable entrepreneurs to start, innovate and scale their businesses in SE Michigan,” said David Egner, President of the New Economy Initiative and Board Member of Endeavor Detroit. “The team identified a gap that Endeavor’s model could fill to support entrepreneurs to scale.”

The board has selected Antonio Lück as Managing Director of the office, overseeing the successful launch of Endeavor Detroit. Mr. Lück was previously the Director of Business Acceleration, Entrepreneurship, Innovation and Venture Capital at the Michigan Economic Development Corporation, where he directed all of the state’s early stage financial programs and the portfolio management team. He will lead the day-to-day operations of the office in Detroit and will be involved in screening entrepreneur candidates for consideration.

For entrepreneurs interested in learning more about Endeavor in Detroit, please contact Detroit@endeavor.org.

About Endeavor

Hailed by New York Times columnist Thomas Friedman as “the best anti-poverty program of all,” Endeavor is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 40,000 entrepreneurs and selected more than a thousand individuals leading over 650 high-impact companies.

With support from Endeavor’s worldwide mentor network, these high-impact entrepreneurs:

– Have created nearly 400,000 jobs
– Generated $6.8 billion in revenues in 2013
– Inspire future generations to innovate and take risks

Headquartered in New York City, Endeavor currently operates in 22 countries throughout Europe, Latin America, Africa, Southeast Asia, the Middle East and the U.S.

Contact
Joanna Harries
Vice President, U.S. and Canada
Ph: +1-646-783-6122
joanna.harries@endeavor.org

Endeavor Insight Uncovers Scaleup Gap in Southeast Michigan

endeavor_insightCoinciding with the launch of Endeavor’s Detroit affiliate, Endeavor Insight has released a report focused on the important role scaleup firms play in growing Southeast Michigan’s economy. The report, Filling the Scaleup Gap: How high-growth companies solve unemployment in Southeast Michigan is the first of two Insight studies identifying the decline of fast-growing firms and assessing policies and programs to solve it. The report highlights several important trends affecting Southeast Michigan:

1. Southeast Michigan hasn’t recovered from the financial crisis: Southeast Michigan unemployment is nearly 1% above 2007 levels and lags unemployment rates in peer metropolitan areas (Cleveland, Pittsburgh, etc.) by nearly 2%.

2. Southeast Michigan suffers from a scaleup gap: The number of Southeast Michigan high-growth companies (companies older than three years with at least 20% annual employment growth over the last three years and at least 10 employees) has declined by 50% between 2007 and 2012. Despite adding 7,000 startups and 46,000 lower-growth companies–a 27% increase in the number of companies since 2007–the region continues to suffer from high unemployment.

3. Southeast Michigan scaleups are the engines of sustainable job-growth: The average high-growth company employs eight times as many people as the average lower-growth firm, and 35 times as many as the average startup. High-growth firms created nine jobs, on average, between 2007 and 2012, while lower-growth firms created two and startups just one. Scaleups are also more durable than other types of companies. Firms with at least one high-growth period between 1990 and 2012 survived twice as long as those that never experienced high growth.

Endeavor Detroit will help close this gap by searching out, selecting, and supporting scaleup companies throughout Southeast Michigan. It will close the scaleup gap, creating new high-quality jobs for a region that helped create some of the most enduring companies of the 20th century.

Read the report below or download it by clicking here.

21 Entrepreneurs From 9 Countries Selected at the 57th Endeavor International Selection Panel in Singapore

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SingaporeFebruary 6, 2015 – Endeavor hosted its 57th International Selection Panel (ISP) in Singapore from February 4-6th, convening top international business leaders, industry experts and entrepreneurs in the Southeast Asian city. Twenty-one entrepreneurs from fifteen companies and nine countries were selected into the network  at the panel. Endeavor now supports 1,051 entrepreneurs from 666 companies across the 22 markets where it operates.

With support from Barclays and EY, the ISP is the conclusion of a rigorous multi-step selection process that is at the core of the Endeavor model. In Singapore, panelists from 10 countries interviewed entrepreneur candidates about their businesses and potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs. Some top names in venture capital, investment and entrepreneurship participated, including Edgar Bronfman Jr. (Endeavor Global Chairman and Accretive General Partner); Eugenio Lopez III (Endeavor Philippines Chairman and Chairman of ABS-CBN Corporation); Afzal Abdul Rahim (Endeavor Malaysia Chairman and CEO of TIME dotcom Berhad); and Husodo Angkosubroto (Endeavor Indonesia Chairman and Chairman of PT Gunung Sewu Kencana).

This ISP is the first panel in the region since the launch of Endeavor in the Philippines earlier this year, which marked the organization’s third affiliate in Southeast Asia.  Endeavor has maintained an office in Singapore since 2011 as a hub for its work in the region. With support from the J.P. Morgan Foundation, Endeavor is currently considering expanding its presence in the city to better select and support the region’s high-growth entrepreneurs.

“As we continue to grow our presence in Asia, bringing the Endeavor network to Singapore signifies the importance of the city as a global center of entrepreneurship and innovation,” said Endeavor co-founder and CEO Linda Rottenberg. “We hope to continue finding the region’s most high-impact, high-growth businesses and empowering them to build ecosystems of entrepreneurship that have the power to move economies and create jobs.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. The entrepreneurs are also connected to world-class talent, education and investment opportunities as part of a business roadmap designed by Endeavor and its mentors. Since 1997, Endeavor Entrepreneurs have created nearly 400,000 jobs, generated and built sustainable growth models in their home countries, transformed local economies and have become role models for future generations of leaders.

Endeavor will host five more International Selection Panels in 2015. Locations will be in Santiago, Chile; Amman, Jordan; San Francisco Bay Area, CA; Marrakech, Morocco; and Mexico City, Mexico.

Brief descriptions of the newly selected entrepreneurs and companies follow.

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Opening day orientations in Singapore

BRAZIL

Entrepreneur: Alessandro Gardemann
Company: Geo Energetica
Description: Geo Energetica offers an alternative to hydropower as Brazil’s booming population growth compels the country to expand its electric energy consumption by 29 gigawatts (GW) through 2021. The company transforms organic waste from Brazil’s sugarcane industry to produce electricity, providing a clean, reliable source of energy year-round.

EGYPT

Entrepreneurs: Hossam Fahmy, Sherif Gad & Tamer El Leithy
Company: Mori Co
Description: With its fusion sushi, gourmet burger, and authentic Lebanese dining concepts, Mori Co is setting the table for a new wave of global cuisine in Cairo. Despite Egypt’s positioning at the crossroads of civilizations, its culture lacks a cosmopolitan dining scene. Mori Co owns and operates four trend-setting restaurant concepts in Egypt that deliver food inspired by the world’s best cuisines. In a MENA F&B market estimated at US$40 billion, Mori Co operates 20 restaurants.

GREECE

Entrepreneur: Periklis Venieris
Company: Green Cola
Description: Green Cola, an Athens-based beverage company, is offering consumers a healthy alternative, made using 100% natural sources for sweeteners and caffeine. Aimed at a new generation of consumers, Green Cola is exploiting an underserved market for healthier cola – estimated at approximately US$442M (10% of the overall sparkling beverage industry). Green Cola is poised to scale on the back of its founder and CEO, Periklis Venieris’, deep industry know-how from 20 years at Coca Cola, and the company’s underlying manufacturing assets, acquired during the financial crisis.

Entrepreneur: Philipp Brinkmann
Company: Tripsta
Description: By consolidating flight, ferry, and train options in an easy to search, minimalist interface, Tripsta helps travelers quickly find what they are looking for. The company provides a user-friendly, comprehensive online and mobile platform for travelers to book flights, ferries, and trains on 40 country websites. Tripsta’s minimalist interface lacks the distracting clutter customers are accustomed to seeing on online travel booking websites, making it easier to find what they are looking for.

INDONESIA

Entrepreneur: Steven Kim
Company: Qraved
Description: With a booming restaurant industry in Indonesia that added over 400 quality restaurants in 2013 alone, diners have more options than ever to enjoy fine cuisine, if they know where to find it. Meanwhile, restaurants want to tap into Indonesia’s burgeoning middle-class, which spends up to 30% of its disposable income on food and beverage. Through Qraved’s website and mobile app potential patrons can browse and make reservations at over 3,000 restaurants in Jakarta and Bali. In turn, restaurants fill their empty tables and gain exposure to the thousands of Qraved users.

Entrepreneurs: Carline Darjanto & Ria Sarwono
Company: CottonInk
Description: Cotton Ink is a company that aims to become the leading Indonesian women’s retailer through its range of trendy clothing that evokes confidence through comfort with its simple yet stylish designs. The company’s clothing drapes the body using a range of pastel, earth-toned, and traditional cotton fabrics. The clothing’s relaxed cut provides comfort while still flattering slender frames. Cotton Ink provides a range of basic and accent pieces to encourage personal style and versatility. To offer customers the latest fashion trends, Cotton Ink launches new collections (15-20 pieces) every week unlike competitors that do so every one to two months.

Entrepreneur: Muhammad Yukka Harlanda
Company: Brodo
Description: Brodo has made it its mission to improve the men’s shoe shopping experience, product quality, and selection in the region. Although ecommerce in Indonesia was nascent when the company began, Brodo envisioned how an encroaching digital world would change the way people shopped and interacted with brands. Brodo will launch Galleries, pop-up stores without inventory within the next few years, where customers can view, test, and purchase products that are delivered the same day.

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Interview day taking place at The Working Capitol

MALAYSIA

Entrepreneur: Edwin Tay
Company: EasyUni
Description: For Southeast Asian students, finding a Western university is no easier since there are few free resources for Southeast Asians that consolidate impartial information on the plethora of higher education options. EasyUni’s multisided platform provides a solution for universities and Southeast Asian students alike. Its free online education portal aggregates information on over 2,000 universities across 33 countries, making it easy for prospective students to compare and choose courses, while also facilitating an end-to-end application process. At the same time, EasyUni drives applications and grows the brand reputation of universities in the region.

MEXICO

Entrepreneurs: Carlos Agami & Jacobo Agami
Company: Agasys
Description: Founded in 2006, Agasys uses CCTV systems (video surveillance systems) to measure and increase the productivity of employees and derive insights into customer behavior. Agasys’ proprietary software generates a random sampling of video clips that provide representative information of individuals’ behavior, unbiased by outliers.

Entrepreneur: Enrique Bojorquez
Company: Sucroliq
Description: Sucroliq produces a refined liquid sugar for food and beverage manufacturers and pharmaceutical companies available at an affordable standardized cost and to a client’s specifications. Sucroliq’s patented technology enables it to refine raw sugar in liquid form for only US$50 per ton – a quarter of normal costs. Sucroliq is the sole provider of refined liquid sugar in Mexico and aims to be the world leader in liquid sugar refinement and production technology.

Entrepreneur: Alejandro Carrillo
Company: InterLatin
Description: InterLatin is bringing Mexico to the forefront of the technological boom. Globally, high-tech businesses (e.g. electrical, aerospace, automotive) are outsourcing manufacturing processes, such as circuit board assembly, testing and inspection, final assembly, and distribution. Operating in a global Electronic Manufacturing Services (EMS) and Original Design Manufacturer (ODM) market estimated to be worth US$363.8 billion (2013), InterLatin provides sells specialized technology equipment and services to companies in high-tech industries (B2B).

SOUTH AFRICA

Entrepreneurs: Craig Raw & JP Kloppers
Company: BrandsEye
Description: While computers can compile and sort the conversations, they struggle to interpret relevancy and sentiment. BrandsEye’s proprietary platform enables consumer-facing brands to listen to what their customers say about them across online blogs and social media in order to better inform their business strategy. The platform incorporates a crowd-sourcing layer to add nuance and emotion to the raw information, which in turn makes BrandsEye’s data more accurate.

TURKEY

Entrepreneur: Zafer Sen
Company: OBSS
Description: OBSS helps enterprises strengthen their IT infrastructure by providing them with software development and consulting services. With some of Turkey’s most prominent financial institutions as clients, OBSS is an established player in the burgeoning Turkish IT and software market, which is projected to grow at a rate of 7.4% to reach US$25 billion in 2018.

UAE

Entrepreneurs: Ayman Fakoussa & Dipesh Depala
Company: The Qode
Description: Luxury brands in Dubai struggle to authentically connect with the diverse population which includes over 150 different nationalities. Meanwhile, most local PR companies are not attune to the marketing needs of this niche retail segment, leading to discord between the client’s products and target audience. The Qode personalizes PR marketing for luxury brands with its end-to-end services, including tailored event planning, diverse publishing channels, and exclusive VIP guest-lists.

Entrepreneur: Idriss Al Rifai
Company: MENA360
Description: MENA360 provides businesses a turnkey solution for entering the ecommerce space in the region and for reaching customers. The company equips its delivery personnel with GPS-enabled tablets and task-assigning software to locate customers via their mobile devices. MENA360 plans to capture additional market share in the Gulf’s US$1.7 billion ecommerce-triggered logistics market (2015e) by growing its delivery capabilities across the region, becoming the turnkey solution for ecommerce in the Middle East.

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Panelists deliberate on the selected entrepreneurs on the final day

Mexico’s Travesias Media Selected By Banamex to Publish Corporate Magazines

Mexico’s Travesias Media, founded by entrepreneur Javier Arredondo, announced that it was selected by Grupo Financiero Banamex, one of the largest banking operations in Mexico, to publish the group’s corporate magazines. Travesias has evolved to become a premiere media agency that generates high-quality editorial content focused on luxury, travel, lifestyle and current events.

Travesias will be partnering with Banamex to publish the magazines “Valor” and “Valor Corporativo”, two publications that target an affluent and finance-literate audience that is 45 years and older. In particular, the magazines will be aimed at the institution’s consumer and corporate banking clients.

Grupo Financiero Banamex has branded its print media to set the standard when it comes to personal finance, business and lifestyle content. Both “Valor” and “Valor Corporativo” will be bi-monthly magazines with controlled circulation, whose editorial content has been developed for readers with a specific interest in economic and social current affairs.

This partnership demonstrates Travesias’ growing brand and client base in Latin America. Since his selection by Endeavor in 2002, Javier has been an active member of the Endeavor network. With over 50 employees, Travesias has grown to encompass a number of lifestyle brands and works closely with an international network of over 200 collaborating writers, translators and photographers. Endeavor provided Javier and his team with a custom advisory board of mentors that helped him refine his business model and connect with industry experts.

Learn more about Travesias by clicking here.

Entrepreneur Connections: Saudi Arabia’s Glowork and OTS Partner on Job Recruitment Service for Women

GloOTSDuring a recent Endeavor KSA event, more than 30 members of the local network convened to discuss the impact of Endeavor in the region. Attendees had the chance to meet casually over the three hour  event, which started off with a private lunch between local board members and Endeavor Entrepreneurs. As a result, two Endeavor KSA Entrepreneurs had the opportunity to form a unique business partnership, demonstrating the power of Endeavor to bring together high-impact founders.

Khalid Alkhudair, founder and CEO of Glowork, has dedicated his business to creating equal opportunities for women by bridging the gap between employers and female jobseekers. For women in the region, the job market is one of the toughest in the world. Having placed more than 20,000 women in jobs in only three years, Glowork is leveraging its brand to launch into other business verticals where women are under-served.

Ahmed Hamdan, founder and CEO of OTS (Optimal Technology Solutions), built a platform that offers digital communication solutions to help businesses communicate and form meaningful relationships with their customers through web and mobile channels. OTS has expertise in effectively reaching consumer audiences throughout MENA, with offices in Saudi Arabia and six other countries in the region, and clients in 20 countries.

Through their partnership, the entrepreneurs are working to create a unique SMS messaging service, a specialty of OTS’, that will offer the region’s female jobseekers the chance to register for an upcoming “A Step Ahead Career Fair” organized by Glowork.

glowork & ots

Ahmed and Khalid making an entrepreneur-to-entrepreneur connection

World Economic Forum Report on Entrepreneurial Ambition Features Insights from Endeavor Entrepreneurs

WEF

A report produced by the World Economic Forum, the Global Entrepreneurship Monitor and Endeavor examines the concept of entrepreneurship in three dimensions: early-stage entrepreneurial activity, growth-oriented entrepreneurship and innovation-based entrepreneurship. The study aims to develop a useful framework for policymakers to understand and support the best entrepreneurs in every region. Case studies and interviews with Endeavor Entrepreneurs from Saudi Arabia to Brazil serves to support the assessment.

It is widely believed that entrepreneurial activity is a critical component to a prosperous society, considering how entrepreneurs create jobs, drive progress and contribute to economic growth. Consequently, many governments and their policymakers aim to increase the number of entrepreneurs in their countries and aid their development. But providing this support is no easy task, as entrepreneurs are not necessarily the same even within a country and often appear in different guises depending on the country in which they are located.

By drawing on two unique data sets – the Forum’s Global Competitiveness Index and Global Entrepreneurship Monitor’s assessment of entrepreneurial activity – the report takes a nuanced stance on the prevalence and types of entrepreneurs globally, and the environments in which they thrive. This look at entrepreneurship aims to provide a deeper understanding of early stage entrepreneurial activity by taking into account that not all entrepreneurs are the same. Specifically, the report highlights early-stage entrepreneurs that are innovative and ambitious about their growth expectations, arguably those with the highest impact on economies.

The report ultimately finds that, in general, early-stage entrepreneurial activity is higher in economies that are less competitive and lower in highly competitive economies. Conversely, the proportion of ambitious and innovative entrepreneurs is more frequently high in more competitive economies. In many highly competitive economies with low rates of business starts, entrepreneurial drive manifests itself through more formalized structures, which dispels any quick conclusions about the quality of entrepreneurial ecosystems based on entrepreneurship rates alone.

Endeavor Entrepreneurs that provided their insights for the report include Rafael Bottós of Welle Tecnologia Laser (Brazil), Maha Arayssi Rifai of Beesline (Lebanon), Daphne Loukas of Out There Media (Greece), Caio Bonatto of TecVerde (Brazil) and Lateefa Alwaalan of Yatooq (Saudi Arabia).

Read the full report and learn more about the findings by clicking here.

Endeavor Lebanon Co-Hosts Global Lebanese Entrepreneurs and Investors Summit in Beirut

Endeavor Lebanon and the Lebanese International Finance Executives (LIFE) held the Global Lebanese Entrepreneurs and Investors Summit, a meeting that brought together over 300 Lebanese investors, business executives and local entrepreneurs. The goal of the Summit was to create a dialogue between Lebanon’s local and global stakeholders and position the country as a prime market for investment. Select Endeavor Entrepreneurs from the local network also attended the event to share their high-impact stories.

Hosted in Beirut, the day-long event showcased the evolution and high-growth potential of Lebanon’s entrepreneurial ecosystem. Hundreds of high net-worth, venture capital and growth equity investors attended the Summit from major financial centers including New York, London, Paris, Geneva, Singapore and Dubai. Comprised mainly of Lebanese ex-patriates, the participants explored investment opportunities in businesses built by a young generation of local entrepreneurs in a variety of sectors. Panel discussions throughout the day highlighted the investment potential in the thriving Lebanese technology and design industries, as well as the importance of attracting and retaining human capital.

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A panel discussion during the Summit

“Lebanon boasts a vibrant scene of entrepreneurial talent and SMEs with great potential to grow, but this potential remains capped due to lack of access to capital and international markets. This summit, organized with our partners LIFE, has given birth to an investor network that specifically strengthens that weak link and creates the missing connections,” said Tarek Sadi, Managing Director of Endeavor Lebanon. “Hundreds of people are here today because they truly care to revive the country’s economy and help it grow.”

In his keynote speech, H.E. Mr. Riad Salame, Governor of Lebanon’s Central Bank, announced plans to license a stock exchange that would list SMEs and family-owned businesses and to facilitate exit strategies for Lebanese entrepreneurs. This follows a series of several important initiatives undertaken by bank in the past two years to support local entrepreneurs.

A number of top Lebanese entrepreneurs, including many in the Endeavor network, attended the event – Labib Shalak, Jamil Corbani, Mohamad Arayssi and Nada Debs all shared their success stories, failures and insights on how they attracted capital despite the challenges and risks in the country.

Find out more about the event by clicking here.

Harvard Business Review Features Endeavor Research on Tech Founders

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The Harvard Business Review (HBR) featured research from Endeavor Insight that dispels some popular myths about tech entrepreneurs. Tech founders are often associated with prominent colleges, technical training and youth. Data from Endeavor, however, reveals that these beliefs are often the exceptions, not the rule.

Two of the most successful tech entrepreneurs in history – Bill Gates and Mark Zuckerberg – promote the stereotypes around tech founders. Both were college dropouts who studied computer science by day, programmed by night, and built large public companies without ever having worked at one. Anecdotes from popular media have only added to the cult of youth. Last year, articles in The New Republic and The New York Times explored the role that young entrepreneurs have played in shaping Silicon Valley.

Over the last year, Endeavor Insight began studying the New York City tech sector, one of the largest in the world, to understand just how closely these myths align with reality. Starting with publicly available data from Crunchbase, AngelList, and LinkedIn – and layered on top of interviews with nearly 700 local tech founders – the data found that none of these stereotypes hold up.

Read the full HBR piece to find out more about Endeavor’s findings by clicking here. Also find mention of Endeavor’s research in the Financial Times.

The Myth of the Tech Whiz Who Quits College to Start a Company

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