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Turkey’s Iyzico Raises Series B Round of Funding with Participation from Endeavor Catalyst

The Istanbul-based Iyzico, founded by Endeavor Entrepreneurs Barbaros Özbugutu and Tahsin Isın, raised a  $6.2 million Series B round of funding led by IFC, 212 and Speedinvest, with participation from Endeavor Catalyst.  The payments company provides a platform to […]

May 28th, 2015 — by admin

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

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 their communities. The 2015 list of 31 entrepreneurs includes Endeavor Entrepreneurs Javier Okhuysen and Carlos Orellana, co-founders of salaUno, and Gonzalo Muñoz, co-founder of TriCiclos. 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 Okhuysen and Carlos Orellana founded the Mexico-based salaUno to help prevent avoidable blindness in Mexico through its private vision centers and clinics. Taking advantage of economies of scale, innovative surgical techniques, and a vertically-integrated supply chain, salaUno provides high quality, low-cost cataract surgery and eye care services to low-income Mexicans. Within a year of launching, salaUno successfully opened a clinic in Mexico City and completed more than 2,100 cataract surgeries. Selected into the network in 2012, the entrepreneurs have received a range of mentoring and advisory services through Endeavor, enabling them to grow the business on a national scale.

By providing Clean Points (CPs) – recycling stations where individuals can deposit recyclable consumer materials – and managing waste management logistics efficiently, Chile’s TriCiclos is one of the most reputable post-consumer recycling companies in the region and one of the few capable of tracking and monetizing compliance. 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 classified as a “B-Corp” and can certify that over 90% of materials put into its social clean points will actually be recycled. Since his selection in 2014, co-founder and CEO Gonzalo Muñoz has received local mentoring services to help him develop and refine his business model.

Other Endeavor Entrepreneurs who have been honored by the Foundation in past years include Javier Lozano of Mexico’s Clinicas del Azucar, Patrick Struebi of Mexico’s Fairtrasa, 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 2015 Awardees by clicking here.

Miami’s Kairos Acquires Emotion Analysis Firm IMRSV, Expands Product Offerings

Kairos_logo (1)The Miami-based facial recognition software company Kairos, founded by Endeavor Entrepreneur Brian Brackeen, announced that it has acquired the emotion analysis company IMRSV for $2.7 million. A New York-based startup, IMRSV will be folded into Kairos’ business structure and support the company’s efforts to expand its offerings.

Founded in 2010,  IMRSV’s software allowed creators to measure accurately how people respond when they look at products, watch movies and ads on their phone, tablet or TV. Using computer vision for real-world, real-time data analysis, IMRSV’s Cara product turns any webcam into an intelligent sensor enabling new methods of interacting with objects and real world spaces. With this acquisition, Kairos – a former client of IMRSV – becomes the only facial biometrics company in the world offering both facial recognition and emotion analysis tools for developers.

Founded in 2012, Kairos’ facial recognition API captures the depths and contours of a 2D facial image through 85 points of interest and renders the image as a 3D model to ensure 99% identification accuracy. The system delivers fraud management and work automation solutions to clients through facial recognition, one-to-many identification, anti-spoofing, mood detection, gender analysis, security and compliance, mobile authentication and more. Brian was selected into the network in 2014 and has since received custom advisory services from Endeavor as well as introductions to top investors through the Endeavor Investor Network.

“Now we’ll have one API and code base to work with,” Brackeen said of the acquisition. “But more importantly, the larger sciences of computer vision and machine learning build on each other. This allows the improvement of both our facial recognition and emotion analysis because the synergies between the two are very strong.”

Another reason for the acquisition was the company’s developer focus. As part of the announcement, the company has also introduced new APIs and an SDK for facial recognition, emotion analysis and crowd analytics. Being able to combine emotion analysis and facial recognition means there are fewer APIs for developers to deal with, allowing them to incorporate Kairos’ technology more quickly.

Learn more about the news in Forbes or on Kairos’ blog.

April 2015 Newsletter

aprilnewsTo view Endeavor’s April 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.

Endeavor Staff Convene at the 2015 Global Entrepreneurship Congress in Milan

newsletterbanner.news postAt the 2015 Global Entrepreneurship Congress in Milan, Endeavor staff members from Argentina, Brazil, Chile, Colombia, Mexico, Turkey, Uruguay, and the U.S. were present. Held from March 16th – 19th, the annual Congress convenes industry leaders, top entrepreneurs, executives and policymakers in one of the largest entrepreneurship-focused gatherings of the year.

The main planning event for Global Entrepreneurship Network, an Endeavor partner, this year’s GEC was also co-hosted by the Milan-based META Group and the Kauffman Foundation. With 4,000 participants from more than 150 countries, the four days highlighted themes ranging from scaling businesses to building urban ecosystems and featured an agenda of dozens of events. Taking the form of pitch competitions, keynotes speeches and panel discussions, these events brought a focus to all aspects of the entrepreneurship spectrum. Notable speakers this year included Maria Contreras-Sweet (Administrator of the United States Small Business Administration), Oscar Farinetti (Co-founder of Eataly), Felipe Hoffa (Developer Advocate at Google), and Andrea Illy (CEO of illyCaffe).

From the Endeavor network, select staff members also had the opportunity to speak during the Congress, demonstrating the organization’s growing role in the global entrepreneurship landscape. Endeavor has been an active supporter of the GEC since it launched in 2009, co-hosting the 2013 GEC in Rio de Janeiro which also featured staff, mentors and entrepreneurs. To learn more about this year’s conference, including summaries of the events and video highlights, click here.

See below for photo highlights of the Congress.

Endeavor Entrepreneurs and Mentors Participate in the 2015 SXSW Interactive Festival

sxswlogoEndeavor Entrepreneurs and top members of the network attended the annual SXSW Festival, a premiere event focused on innovation, cutting-edge technology and design. In its 22nd year, the festival has become a leading incubator of entrepreneurship and creativity, featuring panels, presentations and showcases from global brands and startups. The festival has become a regular event for members of the Endeavor network to gather and meet.

Endeavor organized gatherings at a variety of events throughout the week, with a focus on themes ranging from startup acceleration to biotechnology to international investments. In addition, a number of social events allowed the entrepreneurs to network in informal settings while meeting other attendees of the festival. Endeavor Catalyst Managing Director Allen Taylor participated in his own session themed around trends in Brazil’s investment landscape. Other notable mentor highlights included sessions with:

Steve Case, co-founder of AOL and Chairman of the Case Foundation and Revolution, who shared his thoughts on the importance of partnerships and other keys to business growth and success. He also addressed his experiences building AOL and the industry he helped craft in the early days of the Internet, highlighting the sectors where web-enabled products and services can have a substantial impact.

Jean Case, the current CEO of the Case Foundation, discussed philanthropy and debated the impact of charitable investing with the entrepreneurs. She also addressed the power of entrepreneurship and its unique importance to economic stability in regions of conflict and revolution.

Adam Dell, venture capitalist and brother of Michael Dell, talked with the entrepreneurs about his thematic approach to investment, providing insight on future trends in the VC world.

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Steve Case with entrepreneurs and staff members

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Endeavor VP Allen Taylor in a panel discussion

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

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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 Kravis Prize is among the world’s most prestigious awards for nonprofit leadership, akin to a Nobel geared specifically to this sector.

Endeavor will receive the Kravis Prize and $250,000 award on April 23, 2015 at Claremont McKenna College as part of a special celebration of the Prize’s 10th Anniversary and of the 20th Anniversary of the College’s Kravis Leadership Institute. The ceremony celebrates the accomplishments of best-in-class nonprofits and enables winners to share their best practices with others.

“Endeavor exemplifies the Prize’s philosophy about entrepreneurship, social good, and venture philanthropy. Endeavor’s leadership has had a profound impact on everyday people,” said Marie-Josée Kravis, an economist who is chair of the Kravis Prize Selection Committee. “We are grateful for its remarkable work to change lives all over the world, creating invaluable jobs and resources.”

“Endeavor is a perfect example of a nonprofit that has significant influence on the ground and great success creating a sustainable ecosystem for future impact,” said Henry R. Kravis, an alumnus and trustee of the College who is co-founder of Kohlberg Kravis Roberts & Co. L.P., and founder of the Kravis Prize. “We applaud Endeavor’s impressive accomplishments developing high-impact companies and entrepreneurs, and work to transform the economic landscapes of underdeveloped countries.”

Established in 2006, The Henry R. Kravis Prize in Nonprofit Leadership conducts a rigorous due diligence and selection process to choose an annual recipient. The Prize impacts the nonprofit sector overall by lauding strong performances and sharing recipients’ best practices with others. The Prize is administered by Claremont McKenna College.

Founded in 1997 by Linda Rottenberg and Peter Kellner, Endeavor has helped over 1,000 entrepreneurs build more than 600 companies in 22 countries. Endeavor Entrepreneurs have collectively created more than 400,000 jobs, generating close to $7 billionin revenue.

The organization’s mission is to lead the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. Endeavor helps them overcome barriers to growth by providing the key ingredients to success: mentorship; networks; strategic advice; talent; skills; access to smart capital; and inspiration from the world’s top financial institutions and consulting firms. Guided by Endeavor, these entrepreneurs generate sustainable economic growth and jobs, become self-made role models, and help nurture a culture of entrepreneurship which spurs investment and encourages people to think big. The entrepreneurs in return are required to help other local companies grow by reinvesting in their community, becoming mentors and donating their time and resources.

“We’re honored and grateful to receive the Kravis Prize,” said Endeavor co-founder and CEO Linda Rottenberg. “This is a testament to the amazing work of our board members, staff and mentors in 22 countries who have helped thousands of entrepreneurs to think big, achieve their dreams, and pay it forward in their communities.”

The Endeavor model of creating an entrepreneurial ecosystem that generates jobs and encourages social change is embedded in Claremont McKenna College’s DNA, and embodied by the Kravis Leadership Institute (KLI). Students in the academic center learn about leadership development through the lens of social entrepreneurship and are provided with unique opportunities to develop as outstanding real world leaders in the public, private, and social sectors.

“As the host of the Kravis Prize, as the hub of emerging Kravis Prize network of leaders in global social innovation, and as an Ashoka U Changemaker Campus, we are thrilled to welcome Endeavor to the Claremont McKenna College family,” said CMC President Hiram Chodosh.

“We are extremely grateful to Henry and Marie-Josée for the opportunity to support the Kravis Prize winners in this vitally important global social innovation movement, and Endeavor is an inspiring exemplar for our leading CMC social innovators.”

Read the press release of the announcement by clicking here. Learn more about the Kravis Prize and the Kravis Leadership Institute at Claremont McKenna College by clicking here.

Endeavor Named Most Impactful Company in Latin America by LATAM Founders Network

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The LATAM Founders Network (LFN), a network for CEOs, partners and founders focused on the investment and technology space in Latin America, recently named Endeavor as the “Most Impactful” organization in the region. With a membership of more than 550 vetted leaders, the LFN Awards recipients were nominated and chosen by top entrepreneurs and founders working in and around Latin America.

LFN’s Second Annual Awards Gala was held in Sao Paulo, Brazil and brought together more than 200 leaders of the investment and technology sector to acknowledge and honor the companies that are true game changers in the region. The Gala provided the ultimate opportunity for effective networking with top CEO’s, founders, investors and media both in the region and abroad.

Endeavor Entrepreneur Martin Umaran, co-founder of Argentina’s Globant, presented the opening address and shared the inspiration behind the company’s mission and culture of 3,000+ employees worldwide. Last year, Globant became one  of the first Latin American technology companies to be listed on the New York Stock Exchange. Endeavor was subsequently recognized as the organization that has made the most impact in the region, with country offices in seven Latin American countries leading the movement for high-impact entrepreneurship. Having selected and supported over 500 entrepreneurs from the region who have gone on to build innovative companies and mentor future founders, Endeavor has transformed the idea of entrepreneurship in many of these markets.

Previous winners of the LFN Awards have seen continued success,  with many of the entrepreneurs raising significant additional rounds of funding and expanding their businesses into other key regions and countries. In addition to Endeavor’s recognition, Endeavor Entrepreneur company Kaszek Ventures (founded by Hernán Kazah and Nicolas Szekasy) was selected as the “Best Investor” in the region. The Brazil-based Printi, a promotional printing company founded by Endeavor Entrepreneur Florian Hagenbuch, won in the “Best B2B Business” category, with Florian also winning “Entrepreneur of the Year”.

Read more about the awards and nominees this year by clicking here.

PreMoney Miami Conference Focused on Venture Capital Features Members of Endeavor Network

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The PreMoney Miami Conference, produced by 500 Startups, highlighted various aspects of the venture capital space in a full day of keynotes, panels and in-depth discussions. More than 200 accredited and active investors and LPs participated in the event, which also featured talks from Endeavor VP Allen Taylor, Endeavor Miami Managing Director Laura Maydon, network members Dave McClure (500 Startups) and Andres Moreno (OpenEnglish), and many more.

The event highlighted new platforms, models and strategies for early stage funding, covering the most disruptive strategies, models, and technologies for the future of venture capital. Featuring the world’s most forward-thinking investors, PreMoney aimed to provide attendees with insights and tactics for building successful, scalable venture portfolios that are as innovative as the companies they finance.

Highlights included Endeavor VP and Endeavor Catalyst Managing Director Allen Taylor’s keynote exploring methods for building successful ecosystems in the emerging markets that need it most. Watch his full session below.

To learn more about the conference, click here.

 

Endeavor Insight Spotlights Scaleup Ecosystems in Bangladesh and Uganda

endeavor_insightAs part of a series of reports focused on scaleup ecosystems worldwide, Endeavor Insight has analyzed the impact of scaleup companies on the economies of two emerging markets: Bangladesh and Uganda. Entitled “The Critical 5 Percent” (Bangladesh) and “The Critical 6 Percent” (Uganda), the reports highlight job creation and economic growth driven by high-impact entrepreneurs in each country. Earlier reports in the series studied the economies in Colombia, Indonesia, Jordan, Mexico and Peru.

Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are a critical component of economic and social development in many global economies, including Bangladesh and Uganda. The report found that these businesses represent just 5% and 6% of these countries’ total number of firms, but created 70% and 50% of net new jobs in each country, respectively. For economies like these in particular, where the labor forces are projected to grow in the millions by 2020, the demand for new jobs has never been higher. Both nations will need to create millions of new jobs in order to keep up with population growth within the next decade.

With the demand for employment opportunities continuing to climb, scaleup companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. As the largest job creators in these countries, scaleups need access to the types of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the region.

To read the full reports and learn more about the research, click below.

TechCrunch Examines the Power of Mentorship with Research from Endeavor Insight

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Endeavor Insight Director Rhett Morris recently authored an article for TechCrunch focused on research conducted on New York City’s tech ecosystem. A key conclusion drawn from the research focuses on the importance of mentorship and guidance to the city’s entrepreneurial scene. With New York City’s tech sector positioned as one of the largest in the world, the findings provide a look at how similar models of mentorship can be fostered in other cities and regions.

The article discusses the importance  off recruiting a network of mentors that can provide advice and guidance during the critical stages of an entrepreneur’s growth. As important as financial capital in many respects, having a strong network can increase a company’s odds of success more than almost anything else. Endeavor Insight surveyed thousands of tech businesses in the city – creating the world’s largest database of a single entrepreneurship community – and found that entrepreneurs leading some of the area’s top startups had strong personal connections to the founders of other successful companies. One of the most powerful connections identified in the analysis was that of mentoring relationships. As the chart below illustrates, 33 percent of founders who are mentored by successful entrepreneurs went on to become top performers – over three times better than the performance of other NYC-based tech companies.

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To date, Endeavor has supported more than 1,000 entrepreneurs at fast-growing companies in over 20 countries. In addition to Endeavor’s work connecting these founders to investors and training programs, the organizations has cultivated thousands of mentoring relationships between founders and experienced entrepreneurs and executives. These mentors have helped companies in the Endeavor network reach average growth rates of over 60 percent per year. A number of these firms have gone public or sold for figures well above $100 million.

Read all the key takeaways in TechCrunch by clicking here.

Mentors Are The Secret Weapons Of Successful Startups

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