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Endeavor Jordan Hosts Second Annual “Catalyzing Conversations” Event with Top Members of the Global Network

Endeavor Jordan hosted the second annual ‘Catalyzing Conversations’ event in collaboration with the 59th Endeavor International Selection Panel in Amman. ‘Catalyzing Conversations’ is a multi-tiered event featuring a series of interactive and motivational discussions with business leaders, entrepreneurs […]

June 30th, 2015 — by admin

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Mexico’s salaUno and Chile’s TriCiclos Named Schwab Foundation Social Entrepreneurs of 2015

The  Schwab Foundation Social Entrepreneur of the Year Awards is an annual list of the top innovators driving global, regional and industry agendas to improve the state of their communities. The 2015 list of 31 entrepreneurs includes […]

April 21st, 2015 — by admin

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Endeavor Investor Network Highlights Growing Presence in Mexico

Investor network LogoIf you’ve been following the impressive rise of entrepreneurship in Mexico, you’ve likely heard of mobile media juggernaut Naranya, car-sharing service Carrot (who recently picked-up an additional $2m in funding) and IT services leader Intellego (just last week named a World Economic Forum Global Growth Company in Latin America), but what you may not know is that all of these are Endeavor portfolio companies. These entrepreneurs represent a new wave of entrepreneurs that are successfully navigating Mexico’s capital markets to scale global companies and inspire the next generation of entrepreneurs to do the same.

Naranya, Carrot and Intellego represent only three of the 80+ companies in the Endeavor Mexico portfolio today. Within this impressive group, nearly 25% have plans to bring on an equity partner this year – including exciting, earlier-stage companies like YaxiParkimovil, and Petsy.

In addition to backing some of the fastest growing companies in the country, Endeavor Mexico also officially launched the Mexico chapter of the Endeavor Investor Network in October 2013. In just a matter of months, the Endeavor Investor Network chapter in Mexico has grown to be one of the largest and strongest Endeavor Investor Network offerings at any of Endeavor’s world-wide affiliates. At the helm of this impressive network is Vincent Speranza, COO of Endeavor Mexico, who has grown the network to 10+ member firms, who collectively represent the strongest equity capital partners in Mexico. Participating member funds include:

Alta Ventures
Angel Ventures Fund
Founders into Funders
Latin Idea
Naranya Ventures
NMP Fund
ON Ventures
PC Capital
Promotora Social Mexico (PSM)
Venture Partners 

Notably, four of the eleven new members are investment funds led by Endeavor Entrepreneurs themselves: Heberto Taracena Ble (InventMx); Juan Manuel Alvarado (Founders into Funders); Alejandro Villalón and Jorge Gonzalez (ON Ventures) and Arturo Galvan (Naranya Ventures). As the profile of successful Mexican entrepreneurs – and investments – becomes increasingly common in discourse globally, Endeavor has noticed a rise in international interest both from the investment community and Silicon Valley’s leading tech companies. We saw this in action during the Endeavor Investor Network event in Mexico last October 2013 (read more here), where global investors like Amadeus Capital, AMEX Ventures and Bessemer Venture Partners descended upon Mexico City together with corporate leaders from companies such as Facebook, EA and Stripe.

The Endeavor Investor Network will next convene a global gathering in Mexico City or Monterrey in November 2014 (exact date TBD), but should your travel plans take you to Mexico in the coming months, please don’t hesitate to be in touch!

Endeavor Investor Network Interview with Nils Galdo Nogales, Founding Partner of InverSur Capital

nilsgaldoThis interview is the first of an exclusive series highlighting members of the worldwide Endeavor Investor Network. Earlier this month, Mariana Poblete of Endeavor Chile caught up with Nils Galdo Nogales, Founding Partner of InverSur Capital (iS Cap) — an Endeavor Investor Network member in Chile (2013-present) to gather his insights on investments in Latin America.

ENDEAVOR: Tell us a little bit about InverSur Capital (iS CAP).

NILS GALDO NOGALES: In early-2013, we raised our first fund of USD $35M, through which we expect to invest in 10-12 companies. Our average ticket size is USD $1.5M, with considerable capital reserved for follow-on investments. To date, our fund has invested USD $4.3M in three companies and expects to invest in three additional companies by the end of this calendar year (2014).

Our fund’s geographic thesis is the Southern Cone of Latin America, with a particular focus on Chilean companies. Through our current fund, we invest primarily in the Information and Communication Technology (ICT) sector. We will consider investing in other economic sectors through future funds.

ENDEAVOR: Which firms have co-invested with InverSur? Have you invested in any Endeavor companies?

NILS GALDO NOGALES: To date, we have co-invested with Angel Investors, Copec UC and Fundación Chile. As we continue to invest in this region, we are open to syndicating deals with both current and new global/regional equity investors. We have not yet invested in an Endeavor company but recently backed an Endeavor pipeline company — Mediastream. We would be proud if our entrepreneurs could later become Endeavor Entrepreneurs.

ENDEAVOR: What are the current trends that you see in Chile and LatAm?

NILS GALDO NOGALES: Overall, we see the continuing growth of entrepreneurial and VC activity. More and more entrepreneurs are choosing Chile as their launch-pad for development and the VC industry is matching this growth in entrepreneurship with additional funds.

Although the exit environment in the Southern Cone is yet to be proven, with firms like ours working to develop a clear path for local and /or regional “exits,” we hope to see a big impact in the next couple of years.

Over time, the entrepreneurial ecosystem of Latin America has matured and is presenting a more innovative, resourceful generation of entrepreneurs. This provides a base for both entrepreneurs and other related actors to aim for larger and better growth opportunities. Entrepreneurs from Chile are thinking of the broader region as the potential market for their company, which is contributing to the robust business opportunities that are present in our market.

ENDEAVOR: Any advice for international investors looking to enter the Southern Cone?

NILS GALDO NOGALES: It is always good to have different kinds of actors in the Latin American entrepreneurship ecosystem. My suggestion for international investors is to try to do things with the local ones to better understand the particular contexts as well as business operating norms. For local actors it is good to work with our international counterparts to learn from their experiences and share ours.

ENDEAVOR: Is there anything else that we should know about InverSur?

NILS GALDO NOGALES: The iS Cap office is located in Telefónica´s Open Future, a 1600 square-meter building in Santiago, Chile that hosts the largest entrepreneurial community in the region. Over 700 start-ups have their HQ in the building. Some tenants include Telefónica, BCI (4th largest bank in Chile) and Start-Up Chile, giving us early access to start-ups and tendencies that put InverSur Capital at the center of the local ecosystem.

InverSur Capital(iS Cap) is a member of Endeavor’s Investor Network in Chile. The fund was co-founded in early-2013 by Nils Galdo NogalesThe fund invests in Information and Communication Technology (ICT) companies with proven business models and the potential for global scalability. iS Cap through its Amerigo Chile Fund is part of the Amerigo network of technology venture capital investment funds, promoted by Telefónica. The Amerigo Network has operations in Brazil, Chile, Colombia and Spain.

Nils Galdo Nogaleshas over 10 years of experience in the entrepreneurial and venture capital ecosystem in Latin America. Prior to co-founding InverSur Capital, he co-founded and led ChileGlobal Angels, the angel network sponsored by Fundación Chile. Prior to that, Nils worked for Endeavor Chile; Nils is an active mentor and advisor to several regional companies and initiatives.

Endeavor Research Featured in Top Outlets Including The Atlantic, Inc. Magazine and The New York Times

IncNYTAtlanticRecent research released by the Endeavor network was featured in top news publications including The Atlantic, Inc. Magazine and The New York Times, highlighting a growing public interest in global entrepreneurship and the efforts of high-impact entrepreneurs.

Inc. Magazine, The Atlantic and The Atlantic Cities profiled Endeavor Insight’s findings on what entrepreneurs look for in a city and the qualities that prove most attractive to founders. Read a recap of the articles by clicking here.

In addition, research from Endeavor Greece on the country’s entrepreneurship and investment opportunities was mentioned in a piece in The New York Times and spotlighted in a BloombergTV interview with Endeavor Greece Managing Director Haris Makryniotis. Read about the research and view the interview by clicking here.

Endeavor Staff Featured at the 2014 Global Entrepreneurship Congress in Moscow

GEC2014The 2014 Global Entrepreneurship Congress  took place in Moscow, Russia this year from March 17th – 20th, convening industry leaders, top entrepreneurs and policymakers in an annual event that promotes ecosystems of entrepreneurship and innovation worldwide. The main planning event for Global Entrepreneurship Week, an Endeavor partner, this year’s GEC was also co-hosted by the Moscow City Government and the Kauffman Foundation. Eleven members of Endeavor’s staff attended representing offices in Argentina, Brazil, Chile, Colombia, Mexico, Turkey, Uruguay, and the U.S.

With over 7,000 participants from more than 150 countries, the four day conference highlighted themes ranging from ecosystem development to startup financing, featuring an agenda of over 80 events taking the form of interactive workshops, keynotes and speaker sessions. Notable speakers this year included Peter Vesterbacka, CMO of Rovio Entertainment, Kathleen D. Kennedy, Chief Strategy Officer of MIT Technology Review, Boris Titov, Russian Federation Presidential Commissioner for Entrepreneurs’ Rights, Karim Rashid,  industrial designer and architect, and Ingrid Vanderveldt, Entrepreneur-in-Residence at Dell.

From the Endeavor network, five staff members had the opportunity to speak at this year’s events, demonstrating the organization’s growing role in the global entrepreneurship landscape. Below are highlights of Endeavor’s participation this year.

Endeavor Insight Director Rhett Morris spoke on a panel focused on “Moving Towards Evidence-Based Policy-Making”, which highlighted the disparity between entrepreneurship policy and the actual needs of entrepreneurs and small business owners. During the panel, Rhett pointed to a recent Endeavor Insight report on Miami’s entrepreneurship ecosystem, which revealed that what entrepreneurs viewed as their biggest challenges differed from the views of policymakers, reinforcing the need for local leaders to craft programming and agendas based on more research and direct feedback from entrepreneurs. In addition, Rhett moderated a panel on “Mapping Entrepreneurship Ecosystems”, which highlighted an emerging field of data visualization that focuses on trends in entrepreneurship and seeks to better identify and understand global ecosystems. In particular, the panel discussed the need for organizations to share research and data and involve entrepreneurial communities in the process of mapping, which has the potential to reveal significant patterns and insights to business leaders, policymakers and the general public.

Endeavor Global’s Marissa Carberry, a Manager on the Marketing & Communications team, participated in a “Social Media 101″ panel session tailored to GEW Lead Hosts, with the goal of identifying best practices for managing social media campaigns and maximizing engagement during GEW. Marissa and Endeavor Turkey‘s Senior  Marketing Associate Alev Ertem discussed a joint Endeavor social media campaign entitled #EndvrTale conducted during GEW 2013, highlighting Endeavor Entrepreneurs and taking advantage of the week-long social conversation occurring around global entrepreneurship. Read more about Endeavor’s efforts during GEW 2013, including highlights from Twitter, by clicking here. Alev also made note of Endeavor Turkey’s partnership with Endeavor Entrepreneur company Youthholding, founded by Aslı Caner and Emrah Kayawhich has helped the office improve its digital and social presence across multiple channels with a particular focus on engaging younger generations of entrepreneurs in the region.

Managing Director of Endeavor Argentina Gabriela Macagni participated in a session of presentations entitled “Pitches and New Ideas”, which allowed various organizations to present innovative developments in their programming or events. Gabriela introduced the Startup Camp Latin America program, a series of digital events hosted by Argentina during GEW 2013 that convened over 4,000 Latin American entrepreneurs online for educational and support programming focused on startups. Finally, Pamella Goncalves from Endeavor Brazil‘s Entrepreneur Services team spoke on a panel session focused on “Metrics, Impact & Funding”, detailing methods for measuring and gauging the impact of entrepreneurship-focused organizations.

Endeavor has a been an active supporter of the GEC since it launched in 2009, even co-hosting the 2013 GEC in Rio de Janeiro which also featured many members of the Endeavor network, including staff, mentors and entrepreneurs. To learn more about this year’s conference, including summaries of the events and video highlights, click here.

Two Mexico Entrepreneurs Named Schwab Foundation Social Entrepreneurs of the Year for 2014

schwab foundationThe  Schwab Foundation Social Entrepreneur of the Year Awards is an annual list of the top innovators driving global, regional and industry agendas to improve the state of the world. The 2014 list of 30 entrepreneurs includes two Endeavor Entrepreneurs from Mexico – Javier Lozano, co-founder of Clinicas del Azucar, and Patrick Struebi, founder of Fairtrasa. This honor demonstrates the impact of Endeavor Entrepreneurs in the social sector and the increasing global recognition of entrepreneurs working to transform under-served communities.

Javier co-founded Clinicas del Azucar (“Sugar Clinics”) with fellow entrepreneur Fernanda Zorrilla in order to serve diabetes patients in Mexico, where the disease claims the lives of tens of thousands each year. The chain of low-cost diabetes management clinics aims to address issues of prevention, treatment and awareness in low-income communities where proper care is often lacking. The Clinicas have reduced patients’ annual costs by 70% and lowered diabetes complication rates by 60%, addressing a critical socioeconomic issue with an innovative healthcare model. Since joining the Endeavor network at the 50th ISP in 2013, the entrepreneurs have been active in sessions with Endeavor mentors, developing a strategy to improve and expand upon their business model.

Patrick left the corporate sector after almost a decade in order to start Fairtrasa, a fair trade and organic produce company based in Michoacan, Mexico. Fairtrasa works with hundreds of small farmers in Mexico and other emerging economies in Latin America to produce and distribute high-quality organic and fair trade fruits, wine, and spices in international markets at reasonable prices. The social enterprise aims to help small farmers out of poverty while opening the global market to local goods, equipping its network with financial capital, training programs and technical support. Since his selection at the 39th ISP in 2011, Patrick has received custom advisory from Endeavor’s Venture Corps network while also regularly participating in leadership and fundraising events.

Other Endeavor Entrepreneurs who have been honored by the Foundation in past years include Mois Cherem of Mexico’s ENOVA, Felipe Vergara of Colombia’s Lumni, and Bedriye Hülya of Turkey’s B-Fit. View the full list of 2014 Awardees by clicking here.

Watch the Awards ceremony at the World Economic Forum on Latin America (April 1st – 3rd) in Panama City:

Colombia’s Bodytech Plans Expansion in Latin America, Profiled in El Espectador

bodytechColombia-based Bodytech, founded by Endeavor Entrepreneurs Nicolas Loaiza Galeano and Gigliola Aycardi Batista, recently announced plans for expansion in five Latin American countries as the business prepares to become a publicly listed company. Bodytech’s steady success led to a recent profile in El Espectador, a leading national Colombian newspaper, which highlighted the brand’s recent growth and acquisitions.

Now with 58 Colombian locations spanning major metropolitan areas including Bogota, Medellin and Cartagena, Bodytech also maintains 39 locations in Chile and 10 in Peru and is looking to enter Ecuador, Costa Rica and Panama by 2015. Projecting to grow to over 200,000 members and 150 fitness centers in the next few years, the company has also set its sights on revenue goals of $150 million as it builds upon its membership and expands the 3,500 jobs it has created since 1997.

With access to the right resources, Nicolas and Gigliola are a testament to the high-impact potential of emerging market entrepreneurs and have been active members of the Endeavor network since their selection in 2007. The team has received expert advice and support from Endeavor’s eMBA, G-Lab and ECLA programs, with specific guidance given on the strategic planning and execution of the brand’s fitness training institutions. In addition, the entrepreneurs have attended Endeavor Summits and received local-level access to mentoring and networking opportunities. In fulfillment of Endeavor’s model, Nicolas and Gigliola have also become mentors, panelists and active recommenders for future generations of potential Endeavor Entrepreneurs.

Read more about Bodytech’s news in El Espectador and El Colombiano.

Endeavor Greece Research Spotlights Local Entrepreneurship Scene; Featured in The New York Times and BloombergTV

endeavor-greece-logo-454280Endeavor Greece recently released findings in an infographic highlighting  the nation’s burgeoning entrepreneurship scene, the rise in local startups, and the influx of both domestic and foreign investment capital. With ventures in the ICT sector dominating, Greece is steadily making waves in the tech and innovation space as entrepreneurs lead the way for the region’s economic recovery. Between 2012 and 2013, the number of startups in the country more than doubled according to Endeavor Greece’s research, which was also mentioned in a recent New York Times article profiling the nation’s expanding ecosystem. In addition, Managing Director of Endeavor Greece Haris Makryniotis talked with BloombergTV about the nation’s “startup movement” and the potential for local entrepreneurs to become high-impact job creators, citing  the research and his own experiences with Endeavor’s Entrepreneurs.  View the full interview below or by clicking here.

When it was announced in  late 2012, the launch of Endeavor Greece made headlines in the midst of the country’s political and economic turmoil. Endeavor, however, saw a prime opportunity to bring its model to a struggling region and support high-impact, high-growth entrepreneurs that could create jobs and transform industries. Watch Linda Rottenberg discuss the the decision to enter Greece in this 2012 CNBC interview.


Lebanon’s Diwanee Media Announces Majority Acquisition by French Publishing Company Webedia


Diwanee, founded by Endeavor Entrepreneurs Herve Cuviliez and Delphine Edde, recently announced a majority acquisition by the Paris-based digital media publishing company Webedia, which also injected $5 million in expansion capital into the company. Cited as one of the region’s largest digital media investments to date, the news not only demonstrates the impact that Endeavor’s entrepreneurs are having on their local economies, but also a rising interest in the Middle East’s entrepreneurship ecosystem.

With a predominantly female readership, Diwanee creates and distributes content through its unique offering of Arabic-language websites focused on beauty, fashion, health, entertainment, retail and social media. Founded in 2008 with employees across three countries, the company’s five current web properties – each focused on a different vertical – garners over five million unique visitors per month. With its sights set on the increasingly global landscape of lifestyle products, fashion and internet retail, Diwanee has carved out a niche but growing market in the Middle East, working with a number of its brands and sponsors to create custom content and craft engaging digital and web strategies. Diwanee’s new owner Webedia, which carries similar lifestyle-focused properties in its portfolio, has 40 million unique global users and  established presences in France, Brazil, Turkey, Germany and Spain. The  investment signifies a move for the French company to enter the Middle East while also helping Diwanee’s team develop their current offerings and explore new verticals. 

“Diwanee was at a point where we could do more on the technology side and data side, but it didn’t make financial sense to do it on our own,” said Herve in a statement. “We were very interested in doing this as part of a much larger group. It was a great synergy [with Webedia], and it’s very exciting.”

Since their selection as Endeavor Entrepreneurs at the 46th ISP in Miami in 2012, Herve and Delphine have been active members of the Endeavor network, including participation in the 2013 Endeavor Entrepreneur Summit and Endeavor Investor Network events. Read  the press release of the announcement by clicking here, and see coverage of the news in Wamda and Campaign Magazine.

Endeavor Insight Report on What Entrepreneurs Want in a City Featured in Inc. Magazine and The Atlantic

Inc-Magazine-LogoA report by Endeavor Insight released in February examines the top qualities that American entrepreneurs look for when choosing a city to live and work. With research based on surveys and interviews with 150 founders of some of the fastest growing companies in the U.S., the report offers some important takeaways for policymakers and continues to receive media coverage in notable outlets like The Atlantic, The Atlantic Cities and Inc. Magazine.

James Fallows cited the report in an article for The Atlantic, arguing that national policy – including tax rates and regulatory breaks – usually has little to do with where businesses and populations eventually settle and grow. Rather, the quality of life and attractiveness of a locale takes priority for most high-impact entrepreneurs, as Endeavor’s research reveals. Similarly, Richard Florida highlighted the report’s key findings in a piece for The Atlantic Cities, noting the importance of factors like talent and customer access, quality of life and urban infrastructure to entrepreneurs’ decisions. Picking up on Florida’s observations, Inc. Magazine’s Ilan Mochari spotlighted the research and the importance of looking beyond the “startup” phase at the crucial point of “scaleup”, when small enterprises  have the largest potential for high-impact growth – the key focus of the Endeavor model.

To read the full articles from each publication, click the links above. To view the full Endeavor Insight report click here, and also see an infographic summary of the findings below.


GigaOm Structure Data Session with Endeavor Entrepreneur Spotlights Big Data in Africa

gigaomReprinted from GigaOm. Read the original article by Kevin Fitchard by  clicking hereThanks to GigaOm, Endeavor Egypt and Endeavor eMERGE California. In this session, Egyptian Endeavor Entrepreneur Amr Shady spoke with Endeavor VP of Business & Network Development Shaun Young about big data, mobile and opportunities in emerging African markets. This article includes a video of the full session, which can also be viewed by clicking here.

“There’s plenty of consumer data that can be mined in Africa, but it just happens to be controlled by the mobile operators. TA Telecom CEO Amr Shady explains how startups can put that data to use.

Is there a big data opportunity in Africa? TA Telecom CEO and founder Amr Shady believes there’s a big one. Only 15 percent of Africans may have access to the internet on a PC, but there is a wealth of information to be mined from the mobile operators who effectively have a lock on data services on the continent, Shady said speaking at GigaOm’s Structure Data conference on Wednesday.

“To talk about big data in Africa we have to look at where the data is being is being created,” Shady said. 60 percent of internet traffic comes from mobile phones. Only a third of mobile users who generate that traffic have a mobile data connection. The rest are using basic voice and SMS services, he said.

If you sampled data from social media to try to understand consumer behavior or public opinion in Africa, you’ll most likely reach incorrect conclusions, Shady said. But by analyzing patterns in how consumers use mobile services, TA Telecom is able to glean much more accurate data about them. It in turn parses that data to target advertising and subscription content at specific consumer segments at the behest of its carrier customers.

Shady, however, said there are many more opportunities to put that carrier data to work. TA Telecom has invested in a startup that uses cell tower location data to measure vehicle traffic conditions on Africa’s roads, he said. Also, Shady believes that because of their close relationship to consumer data, mobile carriers will be the incubators for future entrepreneurs in Africa. Instead of the Microsoft or Apple Mafia, we’ll see a Safaricom or a Vodacom Mafia create the next generation of data startups.”

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