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 […]
Scale-up companies, defined by Endeavor Insight as companies more than three years old with a minimum of 20% average annual employment growth, have become a major force in transforming economies around the world. Bringing focus to […]
Endeavor CEO and Co-Founder, Linda Rottenberg, spoke with the World of Business Ideas (WOBI) on the inflection points entrepreneurs face.
Is it okay to fire a friend? Should your company take capital? Do you want to franchise? “All of these strategic questions are the decision making points that we find at endeavor,” Rottenberg says. “ [These] are the moments of inflection when companies either stay flat or have that hockey stick effect.”
She discusses in the interview that not everyone is going to be a high-impact entrepreneur. “Entrepreneurship at the end is about the stomach. Do you have the stomach to make those tough decisions and to try to mitigate risk?”
Rottenberg finds that most entrepreneurs are not fearless risk takers. They want to be responsible and make smart choices. But where can they go for help?
“I think mentorship is really key,” she tells WOBI. Rottenberg believes that learning from the successes and failures of others can help entrepreneurs get past these points and properly scale their businesses.
The founders of WOBI, Nelson Duboscq and Eduardo Bruchou are two of Endeavor’s earliest entrepreneurs who have benefited from such mentorship. Since joining Endeavor’s network in 1999, their company HSM Group, which provides executive management education, has grown in revenues by 397%. HSM launched WOBI last year, providing another multimedia platform for sharing innovative business ideas from experts like Rottenberg.
Watch the video, “Linda Rottenberg: When Real Entrepreneurs Come to Life” on WOBI here.
For Rottenberg’s previous video, “Five Lessons for Aspiring Entrepreneurs”, see here.
Endeavor South Africa Entrepreneurs Robert Sussman and Lance Fanaroff sold Integr8 IT- an arm of their company, Integr8 Group- to Business Connexion for an estimated R126M. Business Connexion is a leading ICT services provider with more data center capacity than any other provider in South Africa. The merger creates a single organization of 7,000 employees who will deliver services across Africa.
Since its launch in 2001, Integr8 has provided leading corporations with a range of sophisticated IT outsourcing services, including hardware and software solutions, back-end 24/7 customer support and on-site service. Today, Integr8 is the largest privately-owned ICT infrastructure management and managed-services company in Africa.
Sussman and Fanaroff have been globally recognized for their achievements. receiving awards from prestigious organizations such as Ernst & Young. The acquisition marks a new success for these entrepreneurs. “I am excited from where we have come from, I am hugely excited about where we are today, but this pales in comparison about the excitement I feel for the opportunities that will arise whilst working hand-in-hand with BCG and all of their subsidiaries,” said Sussman.
Their joint efforts with Business Connexion are likely to capitalize on the combined domestic ICT market in South Africa, which is estimated at more than US$14 billion.
Endeavor Colombia company Dynamo has joined Participant Media’s PanAmerican Film Initiative, a five-year agreement to produce 10-12 Spanish-language films in Latin America. Dynamo will be joined in the Initiative by two other premier Latin American production companies, Canana (Mexico) and Fabula (Chile).
Participant Media, founded in 2004 by eBay’s first employee Jeff Skoll, finances and develops media campaigns for movies with a social message. Notable titles include “An Inconvenient Truth” (2006), “The Help” (2011), and “Lincoln” (2012). According to Participant’s website, the company is currently in discussions with Dynamo to finance the supernatural thriller “Aguas Rojas,” to be co-produced by Spanish firm Apaches.
Dynamo was founded by four Endeavor Entrepreneurs, Andrés Calderón Rodríguez, Cristian Conti Walli, Rodrigo Guerrero Rojas, and Diego Ramírez Schrempp, in 2006. The company has two distinct arms: Dynamo Capital, the only private equity fund for film financing in Latin America; and Dynamo Productions, a screenwriting, production, and distribution business. DynamoProductions’ film “The Undertow (Contracorriente)” won the Sundance Film Festival’s World Cinema Audience Award in 2010.
Dynamo executive Cristian Conti Walli said that the company is excited to begin its work with the PanAmerica Film Initiative. “For Dynamo this alliance presents a superb framework to create, improve and bring to life our projects,” Conti Walli said. “We look forward to growing with and learning from great partners and friends like Canana, Fabula and Participant.”
Alumni of Endeavor’s eMBA Program – which places business school students at Endeavor companies worldwide – mingled at Moore Bros. Wine Co. to network and exchange stories of their educational experiences overseas. Here are short interviews of some of the attendees:
Movile, a Brazilian software development company for mobile phones that was founded by three Endeavor entrepreneurs, has decided to heavily invest in a new start-up. The company is investing USD $5.5 million in iFood, a site that manages food delivery. Created in 2000 by Marcelo Sales, Rafael Duton, and Eduardo Bernardes, Movile exclusively offers access to mail applications, remote file management and infotainment for more than 23 million mobile phone users. This new partnership with iFood hopes to expand the company’s services to allow 1 million people in Brazil to purchase food through the internet and smartphones in the next year.
Since its inception in 2011, iFood has gathered thousands of restaurants in eight cities around the country. The start-up plans to use Movile’s funding to further expand throughout Brazil and increase to 5,000 partner establishments by 2015. Franco Bloisi, Movile CEO, believes that mobile commerce has the potential to move $1 billion dollars in Brazil over the next two years.
Endeavor was featured in an article in the French-language daily newspaper, “L’Orient le Jour” based in Beirut, for its potential to improve Lebanon’s economy. According to Endeavor’s calculations, the country’s GDP could increase by 1% by creating 12,000 new start- ups, or supporting the growth of 100 small and medium enterprises (SMEs). Since the launch of Endeavor Lebanon in 2011, 10 entrepreneurs from 8 companies have been selected and connected to mentors and investors. These businesses span the fields of computer and internet companies to advertising and high-end interior design firms.
The Managing Director of Endeavor Lebanon, Tarek Sadi, speaks in the article about the promising progress thus far. Mr. Sadi warns that it will take time, but is confident that Lebanon will really see the great impact of Endeavor’s model in the next five to ten years.
Endeavor Brazil put together a preview video for their new documentary series, “Go For It”. The series will focus on six Brazilian start-up businesses, as well as the entrepreneurial environment in the country.
The trailer below, which has English subtitles, introduces these high-impact entrepreneurs and their stories.
Organizations that support high-impact entrepreneurs help to create new jobs and economic growth. However, not all companies are created equally. A new micro-enterprise may employ one to three people but a small- and medium-sized enterprise (SME) that becomes large will go from 20 to 35 employees to over 250. With the support of mentors, investors, and advisors, these growing SMEs can reach this threshold even faster. Despite the potential for impact, Endeavor Insight’s survey of 42 member organizations of the Aspen Network of Development Entrepreneurs (ANDE) shows that too few organizations focus on these high-impact entrepreneurs, leaving valuable opportunities to incubate economy-changing companies untapped in the process.
A 2012 survey by Endeavor Insight shows that only 26 percent of development entrepreneurship organizations are focusing on businesses that can become large and make a meaningful impact. Fifty percent may work with high-growth companies with revenue or job growth above 20 percent annually, but nearly half of these work predominately with micro-enterprises. Even a five-employee firm, on the upper end of the micro-enterprise scale, would take almost two years to make a sixth hire at these growth rates. A 250-person firm growing at the same rate would add over 100 jobs in the same period.
Supporting small entrepreneurs will always be an important element of the entrepreneurship and development toolkit, but as economies grow, entrepreneur-support organizations should be ready to build large companies with 250+ employees and strong revenue growth. Doing so will lead to greater GDP growth and will create inspirational examples for future high-impact entrepreneurs. For the 74 percent of organizations focused exclusively on micro-entrepreneurs and SMEs, thinking bigger can entrench and multiply their impact.
For more information, please read the full report here.
Endeavor Turkey held its second Good Investment Summit on January 10th to target potential angel investors in the country. 220 people attended this summit in Istanbul, at which consultants from Angel Resource Institute (ARI) worked with investors and entrepreneurs. Angel Investors John May and Robert Okabe spoke on fundamental topics such as pitching to investors, angel portfolio strategy, due diligence and valuation.
A second summit was held the following day for 50 people in Ankara, Turkey’s capital and second largest city.
“In addition to delivering technical training, this program is a live and interactive showcase of top angel investors and angel-funded entrepreneurs to inspire and guide potential angels, early stage entrepreneurs and other community partners,” said Didem Altop, Endeavor Turkey’s Managing Director. “This know-how and experience exchange platform is crucial in building effective angel investor networks for Turkey’s emerging entrepreneurial ecosystem.”
These events were made possible with the partnership of TUSIAD and ARI and the sponsorship of Akbank and Turkcell.