High-Impact Entrepreneurship

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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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Endeavor Insight and the Partnership for New York City Release “The Power of Entrepreneur Networks” Study of Nearly 700 Industry Trailblazers

Endeavor, with support from The Partnership for New York City and Barclays, released a report titled, “The Power of Entrepreneur Networks: How New York City Became the Role Model for Other Urban Tech Hubs” which identifies how […]

November 12th, 2014 — by admin

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Endeavor Entrepreneur Bedriye Hülya honored by Ashoka, speaks at Barcelona TEDx conference

By Becky Pressman, Endeavor Intern

The past few months have been busy for Endeavor Entrepreneur Bedriye Hülya. Since founding b-fit, Turkey’s first national chain of women’s gyms in 2006, the business has grown to over 190 locations run and staffed by women. Bedriye has been recognized for this dedication to the field of social entrepreneurship by being selected as an Ashoka Fellow. Bedriye Hülya will now receive lifelong support from the Ashoka organization as well as the title of one of the leading entrepreneurs in the industry. The award was given at the annual Ashoka in Turkey Gala, attended by a wide range of distinguished guests. Ashoka welcomed three new entrepreneurs for the first time in six years and hopes this will only signify the further growth of the social entrepreneurial field in Turkey.

Recently, Bedriye was also a featured speaker at the inaugural TEDxBarcelonaWomen conference — focused on the empowerment and entrepreneurial talents of women around the globe.

Endeavor Entrepreneurs featured in Stanford Social Innovation Review

Endeavor Entrepreneurs have been on the forefront of innovation and expansion in the Middle East and North Africa, and the world is taking notice. The Stanford Social Innovation Review has recently included several profiles of Endeavor Entrepreneurs and their companies and has championed their contributions to their MENA markets.

A profile of Al-Tibbi, founded by Endeavor Entreprenuer Jalil Allabadi, an extensive, online Arab language medical information portal, is reviewed as a “blueprint for other players to follow” and a major leader in the field of the intersection between online and social development. The article highlights Jalil’s commitment to his mission of health awareness, and his innovative online solution for the Arab-speaking population.

Another article featured in the Review features Endeavor’s contributions to the Jordanian and Egyptian markets. With quotes from many Endeavor Entrepreneurs including Laith Zraikat, Firas Al-Otaibi, Mohammed Asfour, Wael Attili, Amin Amin, Ahmed El Bedawy, and Salma Salem, this article showcases the impact Endeavor is having in the region.

At Miami selection panel, Endeavor selects 40 High-Impact Entrepreneurs (from Argentina, Brazil, Chile, Colombia, Greece, Lebanon, Mexico, Saudi Arabia, Turkey, and Uruguay)


Original press release here

MIAMI– Endeavor selected 40 High-Impact Entrepreneurs from 10 countries at its 46th International Selection Panel. Endeavor now supports 766 High-Impact Entrepreneurs from 476 companies in 14 emerging and growth market countries. The entrepreneurs were chosen at a Panel held from December 10-12.

“In Endeavor’s 15-year history, this was our largest International Selection Panel to date,” said Endeavor co-founder and CEO Linda Rottenberg. “We’re thrilled to witness to the incredible diversity in innovations from across the globe; and were especially impressed with the high level of panelists representing six countries. Our entrepreneurs and network continue to prove the transformative value and scope of high-impact entrepreneurship worldwide.”

Leading off a week of entrepreneurship and venture capital events in Miami, the Endeavor panel brought together candidates from 10 countries representing businesses from GPS tracking services and online insurance, payments and flash sales, to cataract surgery clinics and Saudi men’s fashion.

The International Selection Panel is the culmination of a rigorous multi-step Search & Selection process where top local and international business leaders interview and then offer guidance to entrepreneur candidates. Post-selection, Endeavor provides entrepreneurs with customized services provided by local business mentors and volunteers from Fortune 500 consulting firms and top U.S. business schools. Endeavor Entrepreneurs have had a significant track record of creating thousands of jobs and building sustainable growth models in their home countries.

Entrepreneur(s)/Companies selected:


Entrepreneurs: Frank Martin and Franco Silvetti

Company: Restorando (www.restorando.com)

Description: Restorando allows diners to book tables at their favorite restaurants online. Restaurants use the company’s cloud-based platform to offer their patrons a streamlined, transparent, and convenient way to book tables in advance.


Entrepreneurs: Felipe Herrera

Company: Ventas-Privadas (www.ventas-privadas.com)

Description: Using online flash sales, Ventas-Privadas allows brand-conscious consumers to purchase overstocked premium items at affordable prices while providing vendors with increased stock rotation and cash flow generation. The company’s eCommerce services unit provides solutions to brands with no or little online presence.


Entrepreneurs: Sally Buberman, Ignacio Lopez, and Maximiliano Menasches

Company: Wormhole IT (www.wormholeit.com)

Description: Wormhole IT offers a wide range of web conferencing services designed to work in areas with poor and unreliable Internet connections. Using Wormhole IT’s superior technology, individuals and institutions in the developing world can easily and affordably meet, train, and broadcast events online without sacrificing quality.



Entrepreneur: Bruno Balbinot

Company: AMBAR

Description: AMBAR designs, produces, and installs home electrical systems for large-scale construction projects. Ambar’s industrialized solution reduces project time and cost by manufacturing and assembling precise electrical wire kits in a factory, resulting in an easy to install product that does not require highly-skilled labor. To date, the company has secured large-scale contracts with companies such as Odebrecht, Pacaembu, and Tecnisa.


Entrepreneurs: Alphonse Voigt, Wagner Ruiz, and João Del Valle

Company: Ebanx (http://www.ebanx.com/en/)

Description: Ebanx is a payment solutions provider that is revolutionizing e-commerce in Brazil. The company allows Brazilians to pay for online purchases from foreign merchants using domestic payment methods, including Boleto Bancario, bank transfers and domestic credit cards. Prior to Ebanx’s service, only Brazilians with access to international credit cards could transact with these merchants.


Entrepreneurs: Alencar Carvalho and Fabio Piastrelli

Company: Gera (www.geravd.com.br)

Description: Founded in 2005, Gera’s mission is to support the management of direct sales channels by providing IT tools, specialized personnel and services. The company’s cloud-based platform, GeraSGI, centrally manages the most critical processes in a variety of direct sales channels (door-to-door resellers). GeraSGI’s robust and flexible platform gives network administrators agile conditions to implement marketing and sales strategies, while controlling payments, orders, and inventory. To date, they have secured partnerships with large companies dealing in direct sales including Natura and Johnson & Johnson.


Entrepreneurs: Luis Milani and Carlos Alves

Company: Grupo Oilcheck (www.grupooilcheck.com.br)

Description: Grupo Oilcheck delivers the heavy machinery market a complete solution for both predictive maintenance – oil analysis – and preventive maintenance – microfiltration. Oilcheck provides oil analysis kits to the final customer, handles return logistics, and analyzes the oil in its lab – ultimately providing the client with detailed maintenance recommendations through a web platform, SMS, and a call center.


Entrepreneur: Gustavo Travassos

Company: MXT Holdings (www.mxt.com.br)

Description: MXT Holdings creates customized, comprehensive technological solutions—each consisting of integrated hardware, software, and back office services—that outperform those of competitors in terms of energy savings, connectivity, and processing power. MXT is recognized for its know-how and agile production model, which allow the company to deliver products and services up to ten times faster than competitors.


Entrepreneurs: Sérgio Lomachisky, Zeev Katz and Iliane Alencar

Company: Tec Saude (www.tecsaude.com.br)

Description: “The goal of your hospital is to take care of people. Our goal is to take care of your hospital.”  That is the guiding philosophy behind TECSAÚDE, Brazil’s leading clinical engineering outsourcing company. Regular maintenance and troubleshooting are essential to maintain the quality and lifetime of a piece of medical equipment, but the majority of hospitals in Brazil cannot afford to train and hire an in-house team of technicians and engineers. With a database of over 500 defined preventative maintenance procedures and 160 technicians and engineers on-site at the hospitals, TECSAÚDE is able to deliver a quick and efficient clinical engineering solution.


Entrepreneurs: Rafael Biasotto, Ivan de Oliveira

Company: Uatt? (www.uatt.com.br)

Description: Uatt? provides Brazil’s growing middle-class with exciting gifts and accessories. The company, based in Florianópolis, creates innovative, fun, and affordable products that are sold at over 3,500 retail locations throughout Brazil.



Entrepreneurs:  Sebastian Valin

Company:  ComparaOnline (www.comparaonline.com)

Description: ComparaOnline enables consumers to efficiently make informed insurance, telecommunications, and personal credit purchases while helping traditional vendors establish a Web-based sales channel.



Entrepreneurs: Mario Hernández Zambrano, María Fernanda Hernández Pérez,  Mario Hernández Pérez

Company: Marroquinera (www.mariohernandez.com)

Description: Marroquinera designs and sells leather goods and other accessories under the brands, MARIO HERNÁNDEZ and *FLY. The company has stores in Aruba, Colombia, Costa Rica, Mexico, Panama, and Venezuela. The leather goods are manufactured in-house while production is outsourced for other accessories such as travel bags and various gift items.


Entrepreneur: Jaime Arbeláez

Company: WideTech (www.widetech.com.co)

Description: WideTech helps companies to manage their logistics operations with a focus on vehicle fleets, field based sales personnel, and cargo. It has a proprietary, cloud-based software platform that provides clients with easy-to-read dashboards measuring and relaying relevant variables to help them cut costs, boost sales, and keep track of their logistics operations. The company also offers tracking solutions for taxi and bus fleets.



Entrepreneurs: Emilios Markou, Alexis Pantazis

Company: Hellas Direct (www.hellasdirect.gr)

Description: Hellas Direct is Greece’s first online-only car insurance company. They use cutting edge technology to provide a quote in less than 5 minutes and their prices are generally lower than competitors of comparable quality. They achieve low prices through sophisticated algorithms and a low-risk portfolio that is restricted to safe drivers in the Greater Athens area.



Entrepreneurs: Herve Cuviliez and Delphine Edde

Company:  Diwanee (www.diwanee.com, www.yasmina.com, www.3a2ilati.com)

Description: In an increasingly digitized age, Diwanee (Arabic for “e-gathering”) seeks to bring the topics Arab women might discuss amongst themselves to the online platform. By 2015, Arabic is expected to be the fourth most widely used language on the internet, yet only 1.5% of total online content is in Arabic today. Diwanee’s specialized web portals 3a2ilati.com (motherhood, health) and Yasmina.com (beauty, fashion, gossip) satisfy its readership with information tailored to their lifestyle and life stage. In just three years, Diwanee has become the market leader in women’s lifestyle web content in the Arab language in an environment where large consumer brands are eager to target customer segments with high spending power.



Entrepreneurs: Francisco Javier Cárdenas Ibarra

Company: Orcius (www.orcius.com)

Description: Orcius is a one-stop shop for SME web services. Instead of navigating a market full of freelancers with narrow skill sets, SMEs can now turn to Orcius for a full service experience including reliable web and mobile site design, hosting, site administration, and social media marketing services. Founded in 2008, Orcius uses a franchise model with a wide reach and has launched more websites than any of its competitors in Latin America.


Entrepreneurs: Javier Okhuysen Urrutia, Carlos Orellana Aguilar

Company: salaUno (www.salauno.com.mx)

Description: salaUno is a newly launched, well-received and growing provider of ophthamological services, specifically the surgical removal of cataracts, to lower income citizens in the Mexico City area. salaUno is a first mover in this sector in Mexico, and uses uniquely developed business practices that allow for surgeries at 60% less the cost of its competitors. They are one of the top institutions performing cataract surgery in Mexico City by volume.


Entrepreneurs: Vidal Cantú, Guillermo Farias

Company: Veramiko (www.inteam.com)

Description: Veramiko, founded in 2006 by Vidal Cantú and Guillermo Farías, has developed InTeam.com, an online platform that provides companies with an integrated intranet solution that fosters organic workplace collaboration. InTeam.com has all of the features of social networks, such as profiles, “walls”, and news feeds, plus specialized business applications including project management tools, file sharing, wikis, and groups.


Saudi Arabia

Entrepreneur: Loai Naseem

Company: Lomar (www.lomarthobe.com)

Description: Lomar is the brainchild of Loai Naseem, a Saudi advertising executive turned fashion designer. Fed up with having to wear uniform, unoriginal thobes, the robe-like traditional Arab men’s garments, he decided to create his own with modern, fashion-forward touches. His designs caught on and he turned this hobby into a luxury business, which now boasts 11 showrooms, 380 employees, a large manufacturing facility, and a loyal brand following.



Entrepreneurs: Berk Aleva, Gizem Yasa, Harun Guner

Company:  Butigo (http://www.butigo.com)

Description: In 2011 alone, Turkey saw 135 million online transactions worth US$12 billion. Butigo, the Turkish based fast fashion brand, seeks to capitalize on Turkey’s ecommerce opportunity and US$1.22 billion market for women’s shoes. Inspired by the immensely popular shoedazzle.com (US), Butigo’s celebrity endorsed online shoe brand offers Turkish women the latest high-end shoe designs at affordable prices, all through a customized online boutique. Each shoe ranges from US$27 to US$120 making the Butigo brand an affordable alternative to high-end designer shoes.



Entrepreneurs: Alvaro Maldonado and Eduardo Delbono

Company: Asuan (http://www.asuan.com.uy/quienes.htm)

Description: Asuan provides comprehensive turn-key systems to food processing and packaging facilities throughout Latin America. The company specializes in meat deboning systems, but also offers systems for a variety of different sectors within the food industry, including dairy and bread. Since its founding in 2004, Asuan has expanded from Uruguay into Argentina, Brazil, Chile, Mexico and Paraguay with the help of market-leading clients JBS, SuKarne, and Gorina.

Endeavor Insight Releases a Term Sheet Calculator

How does the pie get divvied up when an entrepreneur sells his company?  Who gets the biggest slice?  And, importantly, who or what sets these terms?  The answer to all of these questions is in one eponymous document: The Term Sheet.  But, term sheets can be complicated, convoluted, and confusing especially for an entrepreneur who might be  negotiating for the first time with a financing partner.  To demystify this process, Endeavor Insight has created an educational tool designed to help entrepreneurs understand at a high level how to best raise smart capital. The Endeavor Term Sheet Calculator helps entrepreneurs who are entering their first round of funding understand how changes to critical parts of the contract can dramatically alter how entrepreneurs, investors and employees share money upon the sale of a company.

Users can input key variables, including pre-money valuation, pre-money employee options, investment value, anticipated exit value, preferred participating cap multiple and liquidation preference, to see how exit scenarios would play out under capped, full and no participation models.   Below is a glossary of these key term sheet “buzz words” and a description of what they actually mean:

Pre-Money Valuation: the value of a company before it receives any funding from external investors

Pre-Money Employee Options: the percentage of common stock allocated to employees for motivation, reward, and incentive before VC investment

Full Participation: The investor’s right to collect the cash equivalent of his equity after he collects his liquidation preference multiple upon exit. For example, if an investor gives $10 million for 50% of a company with a liquidation preference multiple of 2x, when the company is sold he would receive $10m x 2 plus an additional 50% (due to full participation) of the remaining cash.

No Participation: The investor’s right to collect either the cash equivalent of his equity or his liquidation preference multiple upon successful exit. In our example, the investor would be entitled to either 2x of his initial investment or 50% of the company and would choose the higher value.

Capped Participation: The investor has a right to collect the cash equivalent of his equity after he collects his liquidation preference multiple up to a certain amount upon successful exit.  In our example, the investor is entitled to receive 2x his initial $10 million investment plus 50% of the remaining value of the company, if it does not exceed a certain cap or ceiling (typically a multiple). If that amount does exceed the cap, then the investor would just receive the cap

Liquidation Preference: The multiple by which the investor is entitled to increase his initial investment upon successful exit.


Endeavor Entrepreneur company GoIntegro secures growth equity funding from Riverwood Capital and Kaszek Ventures to fund growth initiatives

Press Release from GoIntegro.

Funding to accelerate growth of its leading SaaS social engagement platform for HR in Latin America with a specific focus on growing its presence in Brazil

GoIntegro, the leading SaaS social engagement platform for Human Resources in Latin America, announced today that it has completed a round of growth funding from Riverwood Capital, a global technology private equity firm, and Kaszek Ventures, a leading venture capital firm in Latin America.

“This round of funding comes at a strategic moment for the company, and will enable us to focus our efforts on expanding the business in key markets such as Brazil,” said Germán Dyzenchauz, CEO and Co-Founder of GoIntegro.

GoIntegro currently has a presence in Argentina, Brazil, Chile, Colombia, Peru, Uruguay and Ecuador. Going forward, GoIntegro plans to accelerate growth of its operations in Brazil under the leadership of Thiago Goncalves, the Company’s Brazil country manager. Today, GoIntegro’s customers in Brazil include PepsiCo, Mercadolibre.com, Kimberly-Clark and Monsanto.

GoIntegro offers a leading corporate social platform in the cloud, bringing together a diverse set of engagement solutions for human resources. The platform combines a corporate social network with applications designed to manage Internal Communication, Corporate Benefits, Recognition and Rewards Programs, and Incentives Programs. This combination of social capabilities and HR specific applications makes it a leading virtual platform for interaction between employees and companies and HR departments.

“Our solution is already used by the largest companies in Latin America, reaching one million employees every day. The current platform offering is the result of over 10 years of continuous improvement, reflecting insight from data collected through the system as well as changes observed in human resource organizations over the years,” said Dyzenchauz. “GoIntegro customers consider our solution to be indispensable as it has shown to deliver value by improving employee engagement and reducing turnover.”

“Today, one of the key challenges facing managers is to retain talent at all levels of the organization. Latin American companies are beginning to see human resources as a strategic function and are increasingly focused on managing the balance between performance and quality of life for employees. GoIntegro is uniquely positioned to help managers and HR departments that are committed to the sustainable growth of their organizations,” said Brazil Country Manager Thiago Goncalves.

About GoIntegro
Founded in 2002, GoIntegro is a pioneer in SaaS social engagement solutions for Human Resources.
The GoIntegro platform is used by more than 250 companies in Latin America today. Customers include Banco Itaú, Petrobras, Citibank, Banco Santander, Kimberly-Clark, Carrefour, IBM, Oracle, Accenture, BASF, Danone, GE, Hewlett Packard, Zurich, LAN Airlines, McDonalds, among others.

Endeavor Entrepreneurs receive help from Ernst & Young’s Americas Corporate Responsibility Fellows

Original Ernst & Young press release posted here.

CR Fellows return from seven-week skills-based volunteering program

Back row L-R: Susan Raffel, David McGibbon, Joe Sanabria, Joyce Olson,
Daniel Paquin, Linda Whalen, Rich Pashkin, Onuwa Uzor
Front row L-R: Roni Gibri; Uma Datla; Angela Gomez; Tamil Chellaiah

More than 60 Endeavor Entrepreneurs in Latin America have benefited from the volunteer efforts of Ernst & Young’s Americas Corporate Responsibility (CR) Fellows since 2006. The 2012 class of Fellows has just returned from their seven-week assignments where they leveraged their workplace skills to meet the specific business needs of entrepreneurs at no charge to the businesses. Since the program was formed, CR Fellows have contributed nearly 27,000 hours working with promising entrepreneurs in emerging markets in an effort to create scalable, sustainable economic value.

“Ernst & Young is recognized as a best-in-class learning organization because of the experiences that our people have both within the firm and the broader marketplace,” said Deborah Holmes, Americas Director of Corporate Responsibility for the Ernst & Young organization. “The CR Fellows program — along with our other signature programs, College MAP and Earthwatch Ambassadors — provide engaging, hands-on experiences for our employees that help them grow as inclusive leaders while using their professional skills to strengthen our communities.”

This long-running program benefited entrepreneurs in Brazil, Mexico, Argentina and Chile this year by engaging Ernst & Young’s top-performing talent in projects that addressed business issues like cash flow management, human resources strategy, financial process definition and sales and marketing. In turn, the CR Fellows gained a more global mindset through this short, sharp global mobility experience where they lived and worked in an unfamiliar culture. CR Fellows return to the workplace with stronger values of diversity and inclusion and an expanded global mindset.

Fellow Brendan Maher explained: “During my Fellows experience, the language barrier was always a challenge. When I was conducting a meeting in English, I often had to slow down to make sure everyone understood my message. I’ve tried to apply this lesson since returning to my team at Ernst & Young. Most of my current client-related work is related to over-the-counter derivatives reform stemming from the Dodd-Frank Act, which can be very difficult for new team members to grasp. When discussing a new concept, I often pause and ask them to explain the key impacts to demonstrate their understanding.”

Since 2006, Ernst & Young has collaborated with Endeavor, a not-for-profit organization that identifies and supports high-impact entrepreneurs in emerging economies, to match the CR Fellows with their host company. And just last year, the firm announced a three-year, multi-million dollar sponsorship with Endeavor that includes support for International Selection Panels, executive-level mentors and connections, Global events sponsorship and the launch of a new financial course designed expressly for Endeavor Entrepreneurs.

“Endeavor and CR Fellows work with entrepreneurs to help these businesses become ‘high-impact’ –- expanding employment, generating wealth and inspiring others to innovate,” said Endeavor co-founder and CEO Linda Rottenberg. “In fact, Endeavor’s high-impact entrepreneurs grow jobs 5.4 times faster than comparable companies and grow revenue 2.4 times faster than comparable companies.”

The 2012 Fellows supported 12 distinct entrepreneurs with the following projects:


ClearSale, a provider of fraud risk management outsourcing solutions that focus on e-commerce and telesales environments, was assisted by an Assurance manager from Fort Worth on a financial processes project.

B2, an agency that serves as a marketing platform for brands and advertisers to access Brazil’s burgeoning youth market, received assistance from a Cleveland-based Advisory senior manager with a Human Resources leadership development project.

Pixel Labs, a developer of interactive cosmetic technology solutions for point of sale and online channels, received help with cash flow management and projection from an Atlanta-based Transaction Advisory Services manager.


Tuyo, a company that buys and re-sells secondhand consumer electronics in stores, developed a same-store strategy and key initiatives with the support of an Americas Markets associate director from Secaucus, NJ.

BlueMessaging, a business that offers organizations a user-friendly and scalable digital messaging platform based on artificial intelligence, was assisted by a Financial Services Office senior manager from New York on financial processes.

Enova, a social enterprise specializing in technology-based educational services, worked with an Advisory senior manager from McLean, VA, to identify organizational improvement opportunities spanning people, process and technology.


Integro, a company that creates Human Resources loyalty programs, received assistance with financial reporting from a Tel Aviv-based Assurance manager.
Conexia, a Business Process Outsourcing (BPO) information technology company, was helped with their financial planning process by a Transaction Advisory Services manager from New York.

Onapsis, a software development firm that performs automated SAP security assessments, was assisted by a Charlotte, NC-based Financial Services Office senior manager on various financial processes.

Goodpeople, an action sports community network that has a retail and online presence, was supported by an Assurance manager from Kitchener, Ontario, with their financials and forecasting.


Prey, a developer of an open-source, multi-platform software that helps people track and recover lost or stolen computers, tablets and mobile phones, prepared to raise capital and expand market share with the support of a Louisville, KY-based Advisory manager.

Buscalibre, an e-commerce bookstore, received assistance with brand and marketing strategy from a marketing associate director from Los Angeles.

Ernst & Young’s CR Fellows program is an extension of the organization’s global commitment to entrepreneurship, which includes the annual Strategic Growth Forum, an event that gathers more than 2,000 of the nation’s top CEOs, entrepreneurs, advisors, investors and other senior business leaders to share their experience on innovation, transactions, growth and what’s shaping the future of the global economy. This event also hosts the Ernst & Young Entrepreneur Of The Year® awards program, recognizing entrepreneurs for their vision, innovation, courage and leadership in building and growing successful businesses.

In addition to the Americas CR Fellows, Strategic Growth Forum and Ernst & Young Entrepreneur Of The Year® awards, the firm demonstrates support for the next generation of entrepreneurs with additional programs:

– The Ernst & Young Entrepreneurial Winning Women program, launched in 2008, helps outstanding women entrepreneurs accelerate the growth of their businesses by identifying and connecting them with the advisors, resources, and insights they need to scale up and become market leaders.

– The Ernst & Young Entrepreneur of the Year Alumni-Youth Entrepreneurship Fund, created in collaboration with the Network for Teaching Entrepreneurship (NFTE), provides scholarships for NFTE students while supporting NFTE in its mission of helping underserved youth pursue educational opportunities, start their own businesses and succeed in life. In addition to the fund, Ernst & Young LLP professionals provide leadership on each of NFTE’s Regional Advisory Boards across the US and demonstrate extensive volunteerism in NFTE programs.

– Ernst & Young LLP awarded an in-kind donation of $1 million worth of professional services to Kiva.org, the world’s first person-to-person micro-lending website that has helped fund nearly 845,000 entrepreneurs in developing markets. Ernst & Young LLP professionals from the Advisory and Assurance service lines contribute their time to Kiva.org in support of projects designed to help Kiva evaluate financial data and improve its controls.

To learn more about the Americas CR Fellows program, please click here.

Endeavor December 2012 newsletter

To view Endeavor’s December 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.

2012 Impact Report

Endeavor Global has released its impact report for 2011-2012. With updated country reports, a sleek new design, and a breakdown of Endeavor’s impact, the newly released impact report is available HERE as a look into how Endeavor is continually innovating and fostering high-impact entrepreneurship around the world.

Endeavor Entrepreneurs selected as part of top 20 Lebanese entrepreneurs

Reprinted from Executive Magazine. Original article here.

By Maya Sioufi

Lebanese with entrepreneurial spirit and a business idea are no longer left to their own devices. Locally, they can find an incubator willing to provide a place to work from and assist them through mentorship and support. Alternatively, they might choose an accelerator eager to speed up their idea is solid enough, entrepreneurs might even win a prize or two from one of the various entrepreneurial awards being offered in Lebanon. And for financing, the main option a few years ago was to beg for dough from family and friends, whereas now entrepreneurs are increasingly likely to be granted a loan, or even equity from a number of venture capitalists that have set up shop in Lebanon.

Granted, the obstacles to reaching success are numerous – from the lack of a solid information technology infrastructure to political instability made worse by last month’s bombing in the heart of Beirut – but with talent and ambition, entrepreneurs are increasingly able to overcome obstacles like these and thrive. Executive picks the top 20 Lebanese entrepreneurs that look to have what it takes to make it, and marks its favorite five with our exclusive stamp of approval.


Entrepreneur: Brahms Chouity
Age: 34
Industry: Mobile gaming
Established in: 2011
Number of employees: 11
Revenues: Generated more than $700,000 in the first three quarters of the year and expects to generate $3 million in 2013. With no subscription fees, the company generates revenues through sponsorship of its tournaments. Its client-base is made up of high profile names: American video game developer Electronic Arts, Swiss provider of PC accessories Logitech, American semiconductor company Advanced Micro Devices (AMD) and video console provider PlayStation ME.

The offering: At7addak.com is an Arabic gaming website allowing users to challenge each other on their favorite video games for cash and prizes. Using their existing gaming platforms (such as consoles, PCs, mobile devices etc.), gamers can compete head-to-head or in teams. The site also boasts exclusive content including news and game reviews, both in English and Arabic (see more in Executive’s September issue).

Achievements: 80,000 registered users as of August. 5 million page views on their website per month and 250,000 fans on their Facebook page, the second highest number of fans of any website in the Middle East. Winner of the the Wamda Award for Best Startup (2011). Selected by Endeavor, a non-profit nongovernmental organization that supports high-impact entrepreneurs in emerging markets.

Financing so far: Self-funded.

Capital raising: No intention to raise capital at least for the next year or two. Looking to sell the business at its peak.

Strategy going forward:
1) Perfect the concept through At7addak.com version 2.0 (coming in three months);
2) increase the website traffic;
3) increase the online advertising revenue.

Where do you see yourself in five years? “I would like to find a successful and rewarding exit out of At7addak.com. In five years, I will probably be doing what I’ve wanted to do all my life: running my own venture capital firm with my best friends. One non-stop party,” says Brahms.


Eastline Marketing
Entrepreneurs: Marc Dfouni & Nemr Nicolas Badine
Age: Marc 35, Nemr 35
Industry: Online marketing
Established in: 2006
Number of employees: 15
Revenues: $800,000 in 2011 and expect to reach $1.2 million in 2012 and $2 million in 2013.

The offering: Eastline Marketing creates and executes online marketing strategies for their customers across the digital landscape. Their services cover social media marketing, search engine optimization, paid search marketing, online advertising and online public relations. ELM also developed its own proprietary technology to create market-leading social media campaigns on social networks for brands looking to grow and strengthen their client base.

Achievements: Developed campaigns for Kimberly-Clark, Toyota, Majid Al Futaim, DHL, FXCM as well as local banks Audi and Fransabank. Selected in 2011 by Endeavor, a non-profit nongovernmental organization that supports high-impact entrepreneurs in emerging markets. Two Webby Awards (annual international award given by the International Academy of Digital Arts and Sciences for excellence in Internet) in 2010 for their online marketing of website “Love Letters to the Future.” Gemini Award given by the Academy of Canadian Cinema & Television in 2010 for “Love Letters to the Future”.

Financing so far: Received two Kafalat loans: one in 2009 for $90,000 and one this year for $240,000

Capital raising: Looking to raise $2 million to $3 million from strategic investors by 2013.

Strategy going forward:
1) Offer 360 degrees digital marketing services (social media marketing, search engine marketing, display advertising, mobile marketing)
2) Expand the social media marketing software platform.

Where do you see yourself in five years? “A leading digital marketing player in the Middle East region with the aim to become a business worth more than $20 million by 2016,” say Marc and Nemr.


ElementN Holding
Entrepreneur: Rabih Nassar
Age: 41
Industry: Technology
Established in: 2003
Number of employees: 60
Revenues: $2 million in 2011, expected to grow by 75 percent in 2012 to reach $3.5 million and $5 million in 2013

The offering: ElementN Holding is a group of companies based out of Beirut and New York that provide a number of technological products and solutions. ElementN Technologies offers mobile operators a number of solutions to enhance the customer experience using the web, mobile and call center channels. CADstrata is a software that provides a comprehensive standardization and collaboration solution for architects and building design professionals who use Autodesk, Adobe and Microsoft products. Apstrata is a leading mobile back-end-as-a-service, meaning it takes care of the back end code of an application and allows developers to focus on the front-end code. This service helps mobile developers cut their costs and accelerate the development time. (See more in Executive’s September issue).

Achievements: Selected among the top five fast growing Lebanese startups in 2010 by AllWorld Network, a non-governmental organization. Selected by Endeavor in 2012, a non-profit non-governmental organization that supports high-impact entrepreneurs in emerging markets.

Financing so far: Initially self-funded then raised $1.2 million in equity financing from Berytech Fund in 2010.

Capital raising: Currently in the process of raising $7 million in equity in a second round of investing.

Strategy going forward: Establish Apstrata as the leading global back-end-as-a-service used by application developers and mobile operators.

Where do you see yourself in five years? “A recognized leading global technology provider operating from Lebanon, offering continuous thought leadership and innovation for cloud-based application development,” says Rabih.


MobiNetS Off Shore S.A.L
Entrepreneur: Labib Shalak
Age: 39
Industry: Software technology
Established in: 2003
Number of employees: 94
Revenues: Refused to disclose revenues.

The offering: Mobinets’ solutions assist network operators in managing their mobile networks by providing them with operating support systems providing improved visibility and control over the networks. Mobinets’ fully automated platform eliminates the need for multiple databases and spreadsheets to manage network inventory and helps operators improve operational efficiencies and reduce costs while enabling rapid new product/service roll out.

Achievements: Solutions used by 18 clients across the EMEA region. Selected in 2011 by Endeavor, a non-profit nongovernmental organization that supports high-impact entrepreneurs in emerging markets.

Financing so far: Raised $2 million in equity capital from the International Financial Corporation, a division of the World Bank.

Capital raising: In advanced communication to raise $5 million from a local investment bank.

Strategy going forward:
1) Solidify position of mobile operators in the service fulfillment, the supply chain activities which provide services to subscribers, and service assurance which guarantees a predefined quality of service
2) Continue on growing within Europe and abroad.

Where do you see yourself in five years? “We see ourselves as a major player in the service fulfillment and service assurance [sector]”, says Labib.


Mosaic Marble
Entrepreneur: Taline Assi
Age: 34
Industry: Retail
Established in: 2003
Number of employees: 14
Revenues: $1.5 million in 2011
The offering: Mosaic Marble offers more than 5,000 mosaic designs as well as custom made orders sold through their website, eBay, a showroom in Lebanon and several resellers scattered worldwide. Their main market is the US, accounting for 60 percent of their orders and their main customers are retail clients.

Achievements: Custom orders from Oprah Winfrey, the municipality of Rome, Queen Elizabeth Theatre in London and a landmark project in New York. Products sold to more than 7,000 retail clients. Website available in 13 different languages. Selected by Endeavor, a non-profit nongovernmental organization that supports high-impact entrepreneurs in emerging markets.

Financing so far: Received a Kafalat loan for $450,000 and other credit facilities; received $100,000 equity capital injection from a new partner.

Capital raising: Looking to raise $1 million next year in a first phase of financing from a strategic investor in order to set up a showroom in California in 2014, hire a salesperson to target professional clients in the Middle East and for other expenses.

Strategy going forward:
1) Cater more to professional clients such as architects and construction companies
2) Target markets in the Middle East — such as Saudi Arabia, Qatar and Kuwait — but also beyond the region, more specifically Japan, Russia and Australia
3) Move production from Syria (where currently 70 percent of production takes place) to Lebanon.

Where do you see yourself in five years? “Being the worldwide leader in hand cut marble mosaics”, says Taline.


Print Works
Entrepreneur: Jad Khoury
Age: 46
Industry: Media
Established in: 1999
Number of employees: 275
Revenues: Around $15 million
The offering: With offices in Beirut and Dubai, Print Works offers printing and fabrication solutions, often incorporating a variety of mediums in addition to distribution and installation. Print Works’ services cover printing and production for traditional large-scale advertising (billboards, branding on vehicles), promotional events (product launches, sponsorship events), and longer-term brand experiences (podiums in malls, point of sale display stands).

Achievements: Sold printing and fabrication solutions to around 3,000 clients including Yves Saint Laurent, Louis Vuitton, Channel, Cartier, British American Tobacco, JWT and Leo Burnett. Selected in 2012 by Endeavor, a non-profit nongovernmental organization that supports high-impact entrepreneurs in emerging markets. Selected in 2010 to be part of the Arabia 500 by AllWorld Network which provides ranking for the fastest growing private companies in different regions in the world. Selected also in 2010 to be part of AllWorld’s Lebanon 25 ranking.

Financing so far: Self-funded with facilities from local banks.

Capital raising: Not looking to raise capital.

Strategy going forward: Plan to open an office in Riyadh in the middle of 2013 followed by an office in Erbil, Iraq.

Where do you see yourself in five years? “The leading full service provider in the printing and production space in the region,” says Jad.

Endeavor and SAP launch a global partnership to support high-impact entrepreneurship

As part of its new emerging entrepreneurs initiative, enterprise software company SAP has announced a three-year commitment to Endeavor Global and Endeavor Brazil as part of a formal global partnership. The alliance builds on a longstanding relationship between the organizations. As one example of our previous collaboration, SAP created an Impact Dashboard for Endeavor that illustrates how High-Impact Entrepreneurs grow revenue and jobs 2.4 and 5.4 times faster respectively than comparable firms.

Most recently, Endeavor co-founder and CEO Linda Rottenberg participated alongside SAP co-CEO Bill McDermott in a “Power of Small” Influencer Roundtable at the SAP SME Summit, held in New York City on November 29. The full video of the panel can be viewed below.

As part of the partnership, select employees of SAP will volunteer as mentors for Endeavor Entrepreneurs around the world. SAP will also drive initiatives for technology innovation, including design thinking workshops. SAP will also participate in Endeavor’s Investor Network, which provides introductions for qualified institutional and venture investors to successful emerging market companies.

“Endeavor looks forward to expanding on our record in additional countries and with the help of partners like SAP,” said Linda Rottenberg. “This is truly a high-impact partnership.”

Meanwhile, SAP will work directly with Endeavor Brazil to provide a suite of special services. Specifically, the company will select 50 Endeavor Entrepreneurs to receive custom benefits and mentorship by March 2013. By November 2013, 20 of these entrepreneurs will also receive a growth grant and donated technology.

Additionally, SAP and Endeavor Brazil will establish an initiative to track and monitor entrepreneurship conditions in Brazil. The organizations will also launch an online entrepreneurship platform, and Endeavor will lead efforts to showcase entrepreneurial progress in designated cities in Brazil–beginning in January 2013 in Rio de Janeiro.

“There are 4 million registered companies in Brazil, of which 30,000 are high-growth and responsible for 57 percent of jobs in Brazil,” said Rodrigo Teles, managing director, Endeavor Brazil. “Today, Endeavor Brazil supports 56 companies in Brazil. The partnership with SAP will catalyze Endeavor Brazil’s network of high-impact entrepreneurs by helping more high-growth companies access capital and mentors, creating a new generation of successful entrepreneurs.”

Said Bill McDermott of SAP, “Today’s entrepreneurs are the bedrock of tomorrow’s economy. We believe in the ‘Power of Small,’ and that the private sector plays a vital role in helping small businesses and entrepreneurs drive innovation, job creation and wealth. We recognize that helping entrepreneurs and small businesses achieve their full potential is not something that can be achieved in a 90-day cycle. With this initiative, SAP is making a clear commitment to invest in their long-term future by providing talent, technology and capital.”

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