High-Impact Entrepreneurship

Join the global conversation

Entrepreneurs

Argentina’s Technisys Raises $13 Million in Funding Round, Receives Participation From Endeavor Catalyst

Technisys, an Endeavor Argentina entrepreneur company, raised $13 million in a Series B round of funding that included participation from Intel Capital, Alta Ventures, KaSZeK Ventures, Endeavor Catalyst and existing investor Holdinvest. Technisys has brought an […]

October 17th, 2014 — by admin

Read more

In the news

Harvard Business Review Highlights the Power of Scale-Ups and The Global Scale Up Declaration

The Harvard Business Review recently featured an article co-authored by Endeavor President Fernando Fabre and Babson College professor Dan Isenberg that puts the spotlight on impact of scale-up organizations and the entrepreneurs behind them. The article takes […]

September 30th, 2014 — by admin

Read more
Get RSS Feed

Endeavor Indonesia Hosts Entrepreneur Networking Event With 500 Startups’ “Geeks On A Plane” Tour

Indonesia logoEndeavor Indonesia hosted a local networking gathering for Endeavor entrepreneurs, mentors and network members featuring Geeks On A Plane (GOAP), an invite-only startup and investor tour organized by 500 Startups. The event brought together over 80 attendees to discuss the entrepreneurship landscape in Southeast Asia and connect with local stakeholders, positioning Endeavor as a leader in the space.

Organized by 500 Startups, a Silicon Valley-based  seed fund and startup accelerator, the GOAP tour convenes entrepreneurs, investors, and business leaders to learn about high-growth technology markets worldwide and explore cross-border opportunities. Taking the form of large networking events, the tour has reached across Europe, the Middle East, Latin America, Asia and North America.

Five Endeavor Indonesia Entrepreneurs and 15 entrepreneur candidates were in attendance, along with 16 mentors, 4 partners and over 40 representatives from GOAP. The Geeks on a Plane guest list consisted of top tech entrepreneurs and venture capital investors from around the world.  The entrepreneurs expressed the importance of Endeavor’s resources in allowing them exposure to a global network, while the VC attendees had the opportunity to meet with companies at a mature stage of scaleup growth.

During the course of the dinner, attendees had the chance to meet and network casually for four hours. Sati Rasuanto, managing director of Endeavor Indonesia, addressed the crowd with a short speech and welcomed all of the network members. 500 Startups founder and Endeavor mentor Dave McClure was also in attendance, and introduced GOAP as a medium for connecting ecosystems of entrepreneurship around the world.

14712770604_819c0a47c7_z

Attendees of the event networking over dinner

South Africa’s Vinny Lingham Announces Acquisition of Gyft, His Third Venture, By First Data

gyft_0Mobile gift card provider Gyft, founded by Endeavor Entrepreneur Vinny Lingham, recently announced its acquisition by First Data, a payment technology solutions provider. Based in San Francisco, Gyft has been boosted by recent funding and new merchant onboarding, with the expectation that First Data’s network will help it scale far beyond the 200 merchants it currently serves. As Vinny’s third company, this announcement demonstrates the success of Endeavor Entrepreneurs who launch multiple ventures and inspire future generations.

Founded in 2012, Gyft offers consumers a platform to purchase, gift, and redeem gift cards via their mobile devices. Traditional plastic prepaid cards lacked efficiency and face the risk of getting lost. Gyft makes redeeming these cards easier with reminder alerts and a mobile gift card “wallet,” making it cost-efficient for small and medium-sized enterprises to break into the prepaid card market. Widespread adoption of digital wallets has made Gyft an attractive option for many e-commerce giants, including Amazon.

This acquisition reportedly grew out of a partnership between Gyft and Clover, the mobile payments and point-of-sale startup that First Data acquired in 2012 for an estimated $54 million. Considered one the world’s largest card processors, First Data handles over $1 trillion annually across more than 6 million merchants. After a leveraged buyout in 2007 and reported losses following the recent recession, First Data has actively sought to modernize its payment services by acquiring technology companies. The recent Gyft news is part of a broader strategic plan for First Data, which has included acquiring Clover and cardless customer loyalty startup Perka.

Coming off a $6 million round of Series A funding, Gyft’s decision to join the First Data family stems from the company’s mission to become a leader in the digital payments industry. First Data’s backing will allow Gyft the necessary network to onboard more strategic merchants while providing First Data with access to key technologies and brand recognition.

“We started the company with a mission to digitize and transform the plastic gift card space,” said Vinny in a statement. “We don’t see this as an exit. We see this as a continuation of what we’re already doing but with a lot more resources.”

Vinny has been an Endeavor Entrepreneur since 2006 and Gyft is the third venture he has founded. Endeavor has connected him with expert mentors and introduced him to investors through the Endeavor Investor Network, allowing him to become an active role model for entrepreneurs in South Africa, Silicon Valley, and beyond.

Read more about the acquisition in Vinny’s exclusive interview with PandoDaily.

Vinny Lingham

Endeavor Entrepreneur Vinny Lingham

Egypt’s TA Telecom Makes Connection With Endeavor South Africa, Plans Regional Expansion

TATelecomSATo support his expansion in Africa, Endeavor Entrepreneur Amr Shady, co-founder of Egypt’s TA Telecom, recently made an Endeavor connection with the team at Endeavor South Africa. Demonstrating the impact of the organization’s global network, Amr was able to leverage Endeavor’s resources to help him connect with local business leaders and industry experts. In addition, Amr has shown his support for the South Africa office through give-back, fulfilling Endeavor’s  mission to foster an ecosystem of high-impact entrepreneurs.

Selected by Endeavor in 2011, Amr is the co-founder and CEO of TA Telecom, a value-added services (VAS) mobile solutions provider that delivers time- and location-specific content to subscribers. With operations across the Middle East and Africa, TA’s services range from demographically-targeted SMS advertising to custom content delivery platforms. Servicing over 10 million subscribers, TA is working towards international growth with its expansion into South Africa, where the mobile phone market has an estimated 59 million users. 

In June, Amr traveled to Johannesburg to attend the VAS Africa conference, an event dedicated to the development needs of African operators. While there, he was connected to South Africa’s Everlytic, founded by entrepreneurs Sam Hutchinson and Josh Adler, as well as a candidate entrepreneur that provided support for his market entry analysis. In addition, the  Endeavor team connected Amr to a local public relations firm to discuss communications strategies while also helping him arrange opportunities with digital agencies and media. In addition to offering financial support, Amr’s give-back efforts include advising potential candidate entrepreneurs in the telecommunications space in South Africa. With plans to become more engaged in the region, he will also look towards Endeavor to help him source potential members for TA Telecom’s South Africa Advisory Board.

Since joining the Endeavor network, Amr has been an active promoter of the organization’s work, serving as a mentor and board member for Endeavor Egypt. As a panelist at International Selection Panels, he has played a key role in selecting new generations of entrepreneurs in the pipeline. Endeavor continues to help Amr connect with top entrepreneurs and investors around the world, and recently featured him as a keynote at the 2014 GigaOm Structure Data event in New York.

AmrShady

Amr Shady speaking at the VAS Africa event

New Endeavor Insight Report Analyzes the Source of Silicon Valley’s Development

endeavor_insight

Endeavor Insight, supported by Omidyar Network, has released a new report that analyzes the development of the world’s most well-known entrepreneurship hub. The report, entitled “How Did Silicon Valley Become Silicon Valley,” includes new data that is being shared publicly for the first time. Endeavor has conducted similar research on entrepreneurship ecosystems around the world, including in Argentina, Colombia, Turkey, and Chile.

The story of the Valley’s early years can provide lessons to leaders in cities and regions across the world. It illustrates the impact that successful entrepreneurs can generate in their communities if they foster spinout firms, mentor other founders, and act as early-stage investors. More information on the lessons that other cities can use, and on the region’s growth and impact, can be found in the full report.

To download a PDF version of the report click here and read coverage of its release in TechCrunch here. The report can also be viewed online using ISSUU below.

eMBA 2014 Field Report: Engineering for Growth in Chile – an Adventure with CORBAC Foods

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Billy Mata, a member of Babson College’s MBA Class of 2015, who spent the summer working with Endeavor Entrepreneurs at Chile’s CORBAC Foods.

eMBA_webHow often do you get the chance to go to the beach one day and the next day be snowboarding at the top of the Andes?  Unless you are in Santiago, your possibility of doing so is very slim, if any. I had always wanted to go to Santiago, Chile but never seemed to have the chance, the time or the money to do so.

When I started my MBA at Babson I knew that this was the moment for me to travel while taking advantage of opportunities to expand my learning experience and have an impact in the places I went, by engaging with purpose-driven organizations.  Endeavor was a perfect fit. Through their eMBA program, I was able to connect with Christian Cortes, the Endeavor Entrepreneur behind CORBAC Foods, in order to engage for 10 weeks in an intensive consulting project focused on strategic planning and execution to support the company’s growth.

CORBAC Foods is a food production and ingredients company that develops solutions for industrial, retail and end customers using – mainly – protein from animal sources.  Some of its most important clients include Nestle and Wal-Mart. CORBAC is strongly positioned in the industrial segment where it supplies dehydrated meats as an ingredient for ready-to-eat soups, rice and pasta.  For its retail customers, CORBAC operates as a food service company and provides sauces, dressings and cooking powders.  For end customers, CORBAC developed VORO, a dog treat that is made of natural and human grade protein, which allows pet owners to treat their pets as an additional family member.

Processed with VSCOcam with c1 preset

A view of Valle Nevado in Chile, courtesy of Billy

When I first met with Christian on a Sunday afternoon to have lunch paired with a glass of (Chilean) wine I got inspired about the project and was eager to help him achieve his dream.  Christian told me how he started his company with $1,000 US dollars, how he managed to take it to where it was today, and how he wants to double the company’s revenue in three years and have it grow five-fold in the next few years. I needed to figure out how we would do that and I had no doubt that it was possible.  After all, I came to Chile to be challenged, and this was a big and exciting one.

After the first week of working with Christian and understanding the company, the industry and the team better, there were two main insights that would dictate how we would engineer the company to prepare it for its growth plans:

Many of the capabilities and skills that brought CORBAC to the point it was at today could hinder the company’s growth going forward

There is a tradeoff between customization and standardization; it’s hard to grow and scale with a customized and single client product portfolio

After we agreed on those two key points, we laid out a work plan which would create the base for growth.  Essentially, there were five aspects of the business that we needed to be crystal clear about and that we would work on:

Aspiration: Develop a clear sense of where the company is going.

Where to play: The industries, regions, customer segments and distribution channels that will be the focus going forward.

How to win: Identify the sources of competitive advantage and capabilities that will enable CORBAC to achieve its growth ambition.

Strategic priorities: The initiatives, capabilities and tasks that need to take place to achieve success.

Plan to generate results: Execute the strategy and align the organization.

Upon reflecting upon my time in Chile with Christian and the CORBAC team so far, I hope I have had a great impact in the company to propel it to the next level.  It is always refreshing to work with passionate entrepreneurs that never settle and are always looking to grow their companies and themselves as people.

Brazil’s Bebê Store Announces Acquisition of Competitor Baby.com.br; Receives Investment From Endeavor Catalyst

bebe-store

Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the region. In addition, the company successfully raised a $12.3 million round of financing earlier this year led by venture capital firms Atomico and W7, with participation from Endeavor Catalyst.

Founded in 2009, Bebê Store was a first-mover in its sector, offering parents a unique online shopping experience by guaranteeing a wide selection of high quality products and personalized customer service. The company has expanded to separate sites for lines of baby products, toys and goods for mothers, projecting  close to $42.5 million in revenue for 2014. Baby.com.br is a major player in Brazil’s e-commerce industry, having attracted over $50 million in investment capital. The acquisition will help Bebê Store strengthen its presence as the leading online retailer of child care products in Latin America, bolstered by Baby.com.br’s existing customer base and product lines.

This merger represents an important milestone in Brazil’s fast-growing e-commerce sector. The rapid rise of  the tech and online retail industries in Brazil has been one of the biggest factors in driving the country’s economic resurgence over the past decade. Research shows that nearly 50 million people in the country are active Internet consumers, demonstrating major potential for growth as the nation’s e-commerce market is expected to become the world’s fourth largest by 2016.

With this new round of financing, Bebê Store has raised nearly $30.5 million led primarily by the London-based Atomico. About two-thirds of the $12.3 million is venture capital and one-third is a bridge loan, with Brazil-based W7 Venture Capital also adding on to its earlier investment. Endeavor Catalyst, Endeavor’s passive co-investment vehicle, also supported this recent round.

Since his selection by Endeavor in 2013, Leonardo has been an active member of the network, receiving custom mentoring on expansion strategies and investor introductions through the Endeavor Investor Network.

Read coverage of the news in The New York Times’ Dealbook and learn more about the company’s financing round by clicking here

eMBA 2014 Field Report: An Entrepreneurial Approach with Turkey’s Artesis

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Abdul Basith, an MBA student at the Thunderbird School of Management, who spent the summer working with Endeavor Entrepreneurs at Turkey’s Artesis.

eMBA_webLeather jacket, jeans and boots – not the typical attire an MBA student wears to an interview. But that’s what I was wearing when I interviewed for my summer internship with Endeavor Entrepreneur company Artesis. On a holiday in Istanbul, I didn’t want to miss out on the opportunity to interview after learning about it from Endeavor. I met with Dr. Ahmet Duyar, the entrepreneur behind Artesis whose research has been funded by NASA. I was inspired by the vision he had for his company, the future of energy efficiency and how he hoped his start-up can contribute to improving energy efficiency in manufacturing facilities the world over.

It was a good fit for both sides. Artesis develops technology and software for maintenance and energy efficiency in Oil & Gas, Water and Automotive industries, and my prior sales experience in industrial control applications complements it well. As I seek exposure to emerging markets, experience in Turkey lends valuable credibility to my career. I am halfway through my MBA at Thunderbird – ranked no. 1 consistently for its international business program, and it is common for students to intern outside of the U.S.

I am tasked with marketing the company’s latest software that replaces expensive condition monitoring techniques. Although some responsibilities were outlined for me, the role was as entrepreneurial as one would expect in a start-up, I have added to areas outside my direct scope. Recognizing the need for a more user-friendly interface and a smooth purchase process, I worked with the development team to improve the user experience design of the software and the website. Having developed a pricing model, I am now building a digital marketing platform to integrate with traditional marketing methods. The experience has been rewarding – I have been able to learn and apply new tools on a regular basis.

Dr. Ahmet Duyar is a guiding force who always makes time for discussion and is open to ideas and suggestions from his employees. As a retired professor, he has a way of bringing out the best in the team. I see this as he critiques my proposals and challenges my assumptions, only to make me work harder and improve my work. Then he gives me the authority to make decisions, saying ‘You are the entrepreneur. This is your product’. It’s this “entrepreneurial” drive that makes my work really interesting.

Personally, too, the experience has been a rewarding one. For someone who loves food, culture and photography, I was not disappointed with Istanbul. There is so much to see and do that one summer just did not seem enough. With Turkey growing as an emerging market and the billions of dollars of foreign investment giving rise to quality jobs, I will happily grab another opportunity for a stint here.

Abdul with the team at Artesis

Argentina’s Globant Raises $59 Million on NYSE; Second-Ever U.S. IPO for an Endeavor Company

Globant

Argentina’s Globant, founded by Endeavor Entrepreneurs Martin Migoya, Guibert Englebienne, Néstor Nocetti and Martin Umaran, had its U.S. IPO on July 18th, raising nearly $59 million. The Buenos Aires-based software development giant has become one of Endeavor’s top success stories by demonstrating the high-impact potential of entrepreneurs in emerging markets. In addition, as Endeavor Catalyst’s first investment, this IPO marks a major milestone for Endeavor’s innovative co-investment initiative.

Founded in 2003, Globant was envisioned from the start as a business that could generate world-class career opportunities for IT professionals while showcasing Latin American talent. Globant has become one of the fastest growing software solutions companies in Latin America, providing clients worldwide with solutions that are design-minded, scalable and efficient. The entrepreneurs have put Argentina on the radar of the global marketplace for offshore IT services, with a portfolio of clients that include Google, LinkedIn, Sabre and Electronic Arts.

The entrepreneurs were selected into the Endeavor network in 2005 with just 120 employees, and have now grown to employ over 3,000 people across 15 countries with the help of Endeavor’s mentorship, strategic guidance and investor connections. In 2008, Globant acquired Openware, an Argentine tech venture founded by Endeavor Entrepreneur Federico Seineldin, marking the first-ever merger between two Endeavor companies. In the same year, Endeavor helped Globant close its first round of venture capital financing led primarily by U.S.-based investors.

When Endeavor Catalyst was formed in 2012, the donor fund co-invested nearly $2 million in Globant as its inaugural investment. Endeavor Board Member and LinkedIn co-founder Reid Hoffman subsequently joined Globant’s Board of Advisors, cementing the company’s reputation as a world-class technology firm. In addition, Globant’s most recent financing round in 2013 saw a 20% acquisition by multinational advertising company WPP. The returns from the Endeavor Catalyst investment will ultimately go towards supporting Endeavor’s operations as well as the fund’s work with future entrepreneurs.

Globant

Globant’s Nestor Nocetti, Guibert Englebienne, Martin Migoya, and Martin Umaran

With annual revenue growth of over 30% in the past two years, including total revenues of $158 million last year, the IPO highlights Globant’s upward trajectory as the global demand for solutions in mobile, social, big data and cloud computing skyrockets. Globant’s success has demonstrated the importance of supporting entrepreneurs by creating an ecosystem of inspiration, mentorship and investment.

Since joining the network, the Globant team has been highly engaged with Endeavor’s work in Latin America and globally, serving as mentors, ISP panelists and donors. The founders have also attended and spoken at a number of Endeavor-hosted events, including both regional and global galas, retreats and summits. Martín and Guibert also serve as board members in Argentina, with Guibert recently named chairman of the local board. The story of the Globant founders is a testament to Endeavor’s model and the multiplier effect of entrepreneurship as the team becomes role models and investors for future generations of ventures.

“The trust that Endeavor puts in Globant was first shown in 2005 when they selected us as Endeavor Entrepreneurs. That was a key milestone in our history, since they enabled us to learn from some of the most talented and experienced professionals in the world,” said CEO Martín Migoya in a statement. “Endeavor reinforces a great partnership that will help us to take our company to the next level, creating more jobs for talent across the world, more opportunities for our ‘Globers’, and delivering the best software products for our customers.”

Globant is the second Endeavor Entrepreneur company to have an IPO in the U.S.  MercadoLibre, founded by Marcos GalperinNicolas Szekasy and Hernan Kazah, was also an Argentine venture that successfully went public in 2007 on the NASDAQ market.

Learn more about the IPO news in the company’s press release by clicking here.

eMBA 2014 Field Report: Innovating Finance With Colombia’s Refinancia

Each summer Endeavor sends a number of incoming and second-year MBA students, recruited from top schools, to work on-site with Endeavor Entrepreneurs on projects ranging from strategic planning to market expansion. The program is supported by a generous grant from Barclays. Following is a post from Pablo Calabuig Pascual, a member of the IESE Business School MBA Class of 2014, who spent the summer working with Endeavor Entrepreneurs at Colombia’s Refinancia.

eMBA_webI heard about Endeavor some years ago, but never thought about applying to it until this year. I was looking for something to do during my six month vacation before starting at McKinsey, and unfortunately I was totally broke after a two year MBA at IESE. I saw Refinancia’s project proposal and found it very interesting, and since I had never visited Colombia I saw this as a great opportunity to get to know the country.

Refinancia is a specialty loan provider that operates in Colombia and Peru, and offers solutions to underserved niches. It basically purchases portfolios of non-performing loans to retail banks, and after thoroughly studying the client’s payment behavior, offers them special solutions so that they can be back in the market. It also has a division that deals with merchant solutions, guaranteeing customer check transactions and providing them with short-term financing. It was started in 2006 and already has more than 800 employees.

A few weeks after I applied, Kenneth (CEO) and Juliana (Head of Corporate Affairs) interviewed me via Skype, and they gave me such a good vibe that just five days later I was already landing at El Dorado airport in Bogotá. I didn’t even have the time to plan my trip and almost even to pack the right clothes, but to be honest the welcome was so smooth and warm that I didn’t even need it. When I got to Bogotá, a driver took me to the apartment they had arranged for me, where I could cook some of the food they had left in the fridge. It felt like home from the moment of my arrival.

photo 1

Pablo with the team at Refinancia

The project itself was incredibly interesting and had a very high impact in the organization: they wanted me to implement an activity-based costing system for the whole company, and thus I was constantly dealing with the CEO, VPs, and Managers. They did not have any way to track indirect costs to the final customer for any of their divisions, and their fast growth complicated things even more. The Merchant Services in particular had no idea of what customer groups were consuming their huge chunk of indirect costs, and the project ended up being a useful tool for segmentation according to actual and potential profitability of the customer.

People were incredibly attentive, not only in the way they provided me with the required information I needed (which was really a lot), but also regularly meeting with me to give me some feedback about my first results. I was particularly surprised about Kenneth’s entrepreneurial attitude and intelligence: he would challenge my ideas and asked me for information that made me reflect about the direction of the project several times.

My social life was no worse. From day one I was getting along well with all of Refinancia’s people. They took me to play golf and introduced me to some of the city’s bars and nightlife. I was also very lucky to be here during the World Cup, given the Colombian passion for football. In fact, after Spain’s poor performance in the tournament, we were back home after the third game and they had me buy Colombia’s jersey and watch all the games with it. Some of them even say I ended up being more Colombian than them! Camila Salamanca and all the of Endeavor team were also very nice and helpful to me.

As I reflect about my whole experience at Refinancia, I realize that everything has gone way beyond my expectations. Not only did I learn from the project, but I also got to meet some amazing and outstanding people in both work and social environments. The memories we created will certainly stay with me, and I am sure I will be back to Colombia sooner than expected.

Endeavor CEO Linda Rottenberg Featured On Fox Business’ After The Bell

Fox_Business

Fox Business’ After The Bell recently interviewed Endeavor CEO and co-founder Linda Rottenberg, highlighting the work of the organization and its impact in emerging markets. In the interview, Rottenberg discusses Endeavor’s mission to help entrepreneurs break through barriers to success by creating networks of support in the markets that need it the most.

Watch the full interview by clicking here or below.

Overcoming the barriers to entrepreneurship

Contact us

Press center

Community

Newsletter Sign Up