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Endeavor Insight Spotlights Scaleup Ecosystems in Bangladesh and Uganda

As 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 […]

March 24th, 2015 — by admin

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Argentina’s Fën Hoteles Plans U.S. Expansion with Properties in NYC, LA and Miami

Argentina’s  Fën Hoteles, founded by Endeavor Entrepreneurs Patricio Fuks and Alejandro Frenkel, recently announced that it is planning an expansion across the U.S.  In an agreement with  investment firm Rosental Group, the hotel management company will have 12 new […]

February 27th, 2015 — by admin

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Argentina’s Globant Opens New Development Center in Peru, Expands Latin American Presence

GlobantEndeavor Entrepreneur company Globant, a technology services firm focused on delivering innovative software solutions, announced that it has expanded its operations to Perú by opening a new development center in Lima. The new office allows Globant to expand its presence in Latin America and continue developing its customer portfolio, propelling services provided to its clients and expanding opportunities for regional talent. One of Endeavor’s top entrepreneurial success stories, Globant also has offices in cities across Argentina, Uruguay, Brazil, Colombia, and the US.

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. Employing more than than 3,500 professionals worldwide, Globant and its founders have succeeded in becoming a source of inspiration for entrepreneurs both in Argentina and all around the world.

“We chose Peru due to the outstanding growth it has shown during the past years,” said Martín Umaran, Globant Chief of Staff and co-founder. “Lima has become a remarkable business center in the region. We see a growing amount of highly qualified professionals that are at the same level as the best professionals worldwide. With this in mind, we expect to continue growing in Peru towards our goal of becoming the best company in the creation of innovative software products.”

Martín Migoya, Globant CEO and co-founder, added: “We are extremely happy to open this development center in Peru and to keep expanding our presence throughout the world in the search of the best talent. This center proves that world-class software products can be built by putting together global teams, and by understanding that geography today isn’t the predominant factor to take into account. It’s just one of the many facts that impacts the career growth of young people all over the world.”

The company, which held its IPO on the NYSE in 2014, 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.

Read more about the news by clicking here.

Endeavor Jordan Research Spotlights Amman’s High-Growth ICT Industry

endjorEndeavor Jordan has released new research that sheds light on how high-impact entrepreneurs contribute to job creation and long-term economic growth in Amman and all around the country. The research is key to educating stakeholders about the importance of supporting the region’s entrepreneurial ecosystem and scale-up businesses. Titled Multiplying Impact: Amman’s High-Growth ICT Industry, the report specifically examines entrepreneurs that have made substantial contributions to the communications and technology sector through mentorship, investment or inspiration.

The development of entrepreneurship ecosystems cannot be judged by the number of startups in the ecosystem, nor are startups the only answer for the Middle East’s pressing job crisis. Rather, the scale-up entrepreneurs that manage to overcome the initial start-up phase hurdles and reach the more challenging stages of their businesses are the ones with the most potential to create large amounts of jobs and transform economies.

The report shares stories of such high-impact entrepreneurs whose impact have reached beyond the success of their own businesses to contribute to the organic growth of a growing ICT sector in Jordan. These entrepreneurs have enabled next-generation entrepreneurs to succeed in growing and scaling their own companies and commercializing their products and services, thus employing more people and expanding the economy’s productive potential.

By following the specific patterns of mentorship, investment and serial entrepreneurship activities, these founders have helped produce localized ecosystems that are increasingly integrated with the thriving global technology sector. The development of the ICT ecosystem in Jordan is also demonstrated through what Endeavor refers to as the “Entrepreneurship Acceleration Cycle”. This pattern has been observed in many successful communities around the world and is comprised of four distinct steps:

Step 1: Ambition
Entrepreneurs seek to build large, scalable businesses in their local communities.
Step 2: Growth
Ambitious founders achieve significant growth at their companies.
Step 3: Commitment
Successful founders choose to stay in the local area and share their resources with the next generation of entrepreneurs.
Step 4: Reinvestment
Successful founders reinvest in other entrepreneurs and businesses.

The cycle of entrepreneurial Ambition, Growth, Commitment, and Reinvestment has helped accelerate the development of Jordan’s technology ecosystem, as well as establish companies that demonstrate the potential to be sustainable and thriving businesses.

“Endeavor is committed to gaining a better understanding of the opportunities and challenges facing high-growth companies and the local entrepreneurial landscape as a whole. The report aims to provide in-depth insights into the Jordan’s dynamic ICT sector, which we believe has great potential to actively contribute to job creation,”said Rasha Manna, Managing Director of Endeavor Jordan. “In line with our ongoing efforts to sustain local entrepreneurship, the report also highlights the patterns of mentorship and reinvestment, which help accelerate industry growth, while advising policy makers and business leaders on how to best support the cultivation of high-growth companies.”

Read the stories of Jordan’s high-impact entrepreneurs in the full report below or by clicking here.  To read the report in Arabic, click here.

Turkey’s Iyzico Acquires Payments Analytics Firm MyPat.co

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Turkey’s Iyzico, an online payments platform, recently acquired consumer analytics company MyPat.co, uniting the services to better serve Turkish businesses operating online. Founded by Endeavor Entrepreneurs Tahsin Isın and Barbaros Özbugutu, Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market.

Selected this year at the 55th International Selection Panel in Istanbul,  Iyzico was founded in 2012 with the vision of making online payments easier than ever before. From obtaining contracts with banks to systemic fraud, Turkish companies both large and small struggle with online payments. Iyzico’s two API platforms connect 22 banks and payment companies with over 850 merchants, enabling merchants to accept online payments in the easiest and safest manner.

The company’s seasoned executive team and local know-how – from collective 33 years experience in the payment market to personally setting up all the contracts with the banks – enable it to offer a more sophisticated and adaptable platform than competitors in Turkey. While there are many global competitors in the online payment market — namely Stripe and World Pay — none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity. With over 7,2000 registered members, Iyzico’s acquisition news will allow the company to expand its services and provide a better understanding of customer behavior and analytics.  MyPat.co currently serves six major clients, including Endeavor Entrepreneur companies Yemeksepeti and Armut.

Learn more about the news by clicking here.

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Iyzico founders with MyPat.co founder Hakan Erdogan

Report on Scale-Up Entrepreneurship in the U.K. Examines Research from Endeavor

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A new report titled The Scale-Up Report on UK Economic Growth has identified the impact of scale-up companies on the country’s economy and highlighted the importance of supporting high-impact, high-growth firms. Authored by entrepreneurship influencer Sherry Coutu, the report utilizeEndeavor’s research and work to underscore the need for policies and programs that support businesses through the critical scale-up phase.  

The report defines scale-ups similar to the way that Endeavor Insight and other organizations like the OECD and Nesta do. According to its analysis, a scaleup is “an enterprise with average annualised growth in employees or turnover greater than 20 per cent per annum over a three year period, and with more than 10 employees at the beginning of the observation period.”

The report found that scaleups are quite rare. There are more than two million businesses in the U.K., but only 8,923 of these companies are scaleups. However, these businesses accounted for a huge share of the country’s job and wealth creation. A study cited in the report noted that the fastest-growing 6 percent of U.K. firms created over half of its new jobs. The analysis included in the scaleup report also estimates that if the U.K. can increase the number of scaleups in its economy, it will generate an additional 238,000 jobs and £38 billion in value within three years.

If scaleups are so critical, it is important to understand what they need in order to continue to grow. A survey of over 300 founders of scaleup firms in the U.K. revealed that attracting talent, securing customers, and attracting financing are the the most pressing issues faced by these fast-growing companies.

Accessing critical talent was the most important issue cited by scaleup founders in the U.K. For example, over 85 percent of the scaleup companies reported that they would grow faster if it were easier to develop their leaders, and 87 percent of scaleups said that they would be able to grow faster if university graduates had the skills needed to meet customer demand. Eighty percent of scaleup founders also reported that they could greatly benefit from accessing more talent from overseas.

Interestingly, according to additional data shared at the public release of the report accessing finance was primarily an issue for smaller, fast-growing firms. Larger fast-growing firms reported much greater access to funding.

The report concludes with a number of recommendations that the U.K. government can take to support the growth of scaleup firms. It focuses on six areas:

– Targeting, supporting, promoting and reporting on scale-up gap closure. This includes targeting, supporting, promoting and reporting on the number of scaleup companies and their performance.

– Accessing talent. As the report notes, “For leaders of scale-ups, the number one problem that prevents them from being able to accept customer orders is access to talent, namely a skilled supply of people who they can hire.”

– Developing scaleup leadership. Developing internal leaders and managers inside their companies was the second most important factor cited by scaleup founders as stopping them from growing their revenues.

– Increasing customer sales at home and abroad. According to the report, “Barriers exist that prevent companies creating new products and services for domestic markets, and selling successful products in other countries.”

– Financing scaleups. Analysis suggests that scaleup companies often turn to the US or Asia to raise financing.

– Accessing infrastructure. Entrepreneurs at scaleup businesses also reported that lack of access to infrastructure makes it more challenging to grow their companies in the U.K.

To read the full report and its analysis, please click here.

Endeavor Greece Celebrates Two Years and 3,500+ Jobs Created By Its Entrepreneurs

endeavor-greece-logo-454280Endeavor Greece released an infographic and video to highlight the office’s impact during its two year anniversary. The team supports some of the region’s top high-impact entrepreneurs who continue to drive sustainable job creation and contribute to a growing business ecosystem. Currently, Endeavor Greece’s network includes 16 entrepreneurs from 11 companies who have managed a total turnover of €110 million and have created  over 3,500 direct and indirect jobs.

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

Eighty percent of the jobs created by Endeavor Greece entrepreneurs are in rural areas in sectors with a competitive advantage, including agriculture and tourism, or in sectors undergoing broader restructuring, such as financial services.With Endeavor’s support the network’s 16 entrepreneurs are present in 48 countries and have attracted more than €25 million of investment, benefiting from Endeavor’s strategic partnership with National Bank of Greece. View a video recap of the team’s impact below.

The Board of Directors of Endeavor Greece is chaired by Michael D. Chandris, Chairman, Chandris Group; and vice-chaired by Mareva Grabowski, who is also the founder of the Greek affiliate. They are joined by Dr. John Coustas, President & CEO, Danaos Corporation; Marily Frangista, Managing Director, Franco Compania Naviera; Theodore M. Kyriakou, Group CEO, Antenna Group; Johanna Papadopoulou, President & Managing Director, E.J. Papadopoulos; Dimitri Papalexopoulos, Managing Director, Titan; Costantza Sbokou Constantakopoulou, Architect T.E.MES; Yiannis N. Stassinopoulos, Viohalco; Spyros Theodoropoulos, Managing Director, Chipita; Alexandros Tourkolias, CEO, National Bank of Greece and Melina Travlou, Chairman and CEO, Neptune Lines Shipping & Managing Enterprises.

Through a powerful network of 3,000 business leaders worldwide and strategic partners in Greece (National Bank of Greece, ΕΥ, Deloitte, DDB/Tribal, Microsoft)and globally, Endeavor supports entrepreneurs in three main areas: access to markets, access to debt and investment, strategic advice for financial management, HR, branding and communication.

Haris Makryniotis, Managing Director Endeavor Greece comments: “Two years after Endeavor Greece launch, we are optimistic about the future of high-impact entrepreneurship in Greece. In times (2012-2014) when the country’s GDP decreased by 15% and employment by 20%, Endeavor entrepreneurs in Greece have managed to increase revenues by 79% and jobs by 45%. Over the next three years, our target is to expand our network and help our network’s companies to create a total of 15,000 direct and indirect jobs.”

Learn more about Endeavor Greece’s impact by clicking here.

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40 High-Impact Entrepreneurs from 13 Countries Join Network at the 56th International Selection Panel in Miami; Endeavor Peru Welcomes First Entrepreneurs

MiamiISPMiami, FL – December 11, 2014 – Endeavor selected 40 high-impact entrepreneurs leading 22 companies in 13 countries at its 56th International Selection Panel.

Endeavor now supports 1,030 High-Impact Entrepreneurs from 651 companies across 22 countries. The first International Selection Panel (ISP) in Miami, FL since the affiliate was launched in 2013, the entrepreneurs were chosen at a panel held from December 8 – 10th.

The ISP is the conclusion of a rigorous multi-step selection process that is at the core of the Endeavor model. At the Miami ISP, top global business and industry leaders interviewed candidates about their businesses and potential for high-impact growth, and then deliberated on whether or not the candidates should become Endeavor Entrepreneurs. This panel was a milestone for Endeavor as the organization officially marked the selection of its thousandth entrepreneur. In addition, Endeavor Peru, which launched in 2014, welcomed its first two entrepreneur companies – Disfruta and Pulso Salud – into the network.

“As we officially cross the mark of a thousand entrepreneurs selected, Endeavor’s network has become an unparalleled force of inspiration and support,” said Endeavor co-founder and CEO Linda Rottenberg. “It was especially amazing to see the passion, professionalism and early impact of Endeavor Miami’s network since its launch.”

After their selection into the Endeavor network, the entrepreneurs are given access to customized services, including introductions to local and international business mentors and volunteers from Fortune 500 consulting firms who will help them address key business needs. Since 1997, Endeavor Entrepreneurs have created nearly 400,000 jobs, generated and built sustainable growth models in their home countries, transformed local economies and become role models for future generations of leaders.

“This Endeavor event was a celebration of all of the amazing entrepreneurial talent around the world,” said Endeavor Miami Board Co-Chair Adriana Cisneros. “It was exciting to showcase the great progress of Endeavor Miami over the past year and the region’s high-impact potential.”

To celebrate the incoming entrepreneurs, Endeavor Miami hosted an event at the New World Center on the final night of the ISP,  bringing together all ISP participants, entrepreneurs, board members, mentors and top leaders from the Miami community. The event was generously sponsored by The Knight Foundation, Cisneros Group, Grupo Arcano, Univision and The Wolfington Companies.

Endeavor will host six International Selection Panels in 2015. Locations will be in Singapore; Santiago, Chile; Amman, Jordan; San Francisco, CA; Marrakech, Morroco; and Mexico City, Mexico.

Brief descriptions of the newly selected entrepreneurs and companies follow.

ARGENTINA

Entrepreneurs: Martin AñazcoDiego Meller

Company: Jampp

Jampp is amplifying the global mobile application market. Mobile app-driven businesses have a challenging time navigating the changing mobile marketing industry. Jampp helps these companies drive large volumes of high-quality mobile users to their apps in a simple and cost-effective way. The company manages the entire process of marketing apps, from planning to tracking and optimization.

BRAZIL

Entrepreneurs:  Eduardo Lima & Sivio Melo Jr

Company: Avantia

Avantia is the first security system in Brazil to package cutting-edge technologies from ten different global suppliers into one integrated platform. Avantia has focused its efforts in the city of Recife, one of the most dangerous cities in the country. Since installing its security system four years ago, the city has seen a reduction in the number of murders by 60.8%—spurring the company’s growth by a CAGR of 40% per year. With such success in Recife, the entrepreneurs are expanding Avantia’s scope into Sao Paolo and aim to be a global benchmark in the security market. Currently employing over 450 people, Avantia is not only keeping the city safe but also creating significant jobs for the community.

Entrepreneurs: Albert Deweik & Roy Nasser

Company: NeoAssist

NeoAssist provides peace of mind to companies and their customers through its automated customer service software. This cloud-based platform allows clients to automate personal responses to customer inquiries and easily track a customer’s social media engagement with the company, among other capabilities. This software allows companies to improve customer satisfaction by 35%, while also reducing the cost of customer service by 30% to 70%. According to the Reclame Aqui, the authoritative agency for customer service ranking in Brazil, three out of the top five Brazilian companies in customer service – and 15 of the top 30 – are NeoAssist clients.

Entrepreneurs: Mate Pencz & Florian Hagenbuch

Company: Printi

Printi makes it easy for small businesses in Brazil to design and procure printed promotional materials. It is the first in Brazil to serve SMEs and individuals with low-or-medium volume needs. The local printing market is highly fragmented and informal, characterized by a few major graphic printers who only work with high-volume clients, printer brokers that set arbitrary and prohibitive prices, and low-quality corner mom-and-pop shops. Printi’s convenient ecommerce site provides the most cost effective printing option in the market. Its commitment to quality and customer satisfaction has resulted in consistent satisfaction scores of over 65% across more than 35,000 clients.

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Dinner at Wynwood Kitchen after a day of interviews

CHILE

Entrepreneurs: Alan Schoihet, Jack Schoihet, Paul Kisiliuk & Uri Cohen

Company: NiuSushi

NiuSushi is an innovative restaurant chain that maximizes its number of satisfied customers by meticulously tracking every metric, from each store’s inventory of rice to the number of minutes it takes for each chef to make a sushi roll in real-time. Customers can choose from more than 80 different rolls of sushi, including fresh Patagonia salmon, octopus, ahi tuna, shrimp and vegetarian options. Every year, NiuSushi updates its menu with new combinations mined from customer preferences and global market studies. With eight locations in Santiago alone, NiuSushi now intends to expand throughout Chile and the region to bring its premium product to a larger audience.

Entrepreneur: Luis Ahumada

Company: Mediastream

Consumers in Latin America want on to access online content on demand, but local media providers still do things the old fashioned way – through TVs and radios. Chilean company Mediastream’s streaming solutions enable companies to keep up with consumer trends and broadcast content through any internet-connected device. Mediastream is a first mover in Latin America, and has built the channels responsible for 60% of content streamed online in Chile. The end-to-end solution for recorded and live-event streaming makes it easy for traditional content providers to build new digital offerings to reach, engage, and monetize audiences.

COLOMBIA

Entrepreneurs: Camilo Pérez, Juan Sebastián Correa & Ricardo Jaramillo

Company: Agrofuturo

Agrofuturo is finally enabling Colombia to compete with the other agricultural superpowers in Latin America. Despite the country’s rich terrain, only 14% of arable land is under cultivation due to violence that plagued rural areas, resulting in a lack of knowledge of how to properly invest and use fertile lands. Through information sourcing strategies, such as a world-class industry expo, and end-to-end agricultural services – including Project Design and Asset Management – Camilo Pérez, Juan Sebastián Correa and Ricardo Jaramillo have catalyzed the growth of the Agricultural sector in Colombia and made it more attractive for investors. Already, Agrofuturo has facilitated $200 million in industry transactions and cultivated 30,000 hectares of previously idle land—growing its revenues through events, project design, management, and fees.

EGYPT

Entrepreneur: Sherief Kesseba

Company: Nile Valley Growers

Nile Valley Growers produces and exports top-quality grapes and red onions to supermarkets across continental Europe and the UK. Egypt’s geographic location allows Nile Valley Growers to export produce when the Global supply is typically at its lowest – after the end of the Southern hemisphere’s season but before the Northern hemisphere’s crops ripen. The country’s close proximity to the European, African, and Asian markets enables produce to quickly reach supermarket shelves which equates to a longer shelf-life.

Entrepreneur: Dr. Hisham Haddara

Company: Si-ware Systems

Si-ware Systems is the first company to design semiconductors in Egypt and export to global clients in the USA, Japan, China, Russia, and France. The company designs the smallest and most cost-efficient spectrometer on the market and has plans to release a quartz-less oscillator by 2015. These semiconductor components are the foundation of electrical devices. Si-ware’s components are built to be easily adaptable to various micro-devices.

JORDAN

Entrepreneurs: Charif Mzayek, Alissar Mzayek & Ghassan Mzayek

Company: Alissar

Business is blooming for the Mzayek family, founders of Alissar, a leading flower producer and retailer in MENA. Transforming Jordan’s arid climate into an oasis, Alissar began as a retail outlet selling floral arrangements and indoor plants to the local market.  The company has set its eyes on the commercial flower and plant market in the GCC, maintaining its floriculture core and expanding its product lines to growing its own flowers and distributing planting material. Future growth will be driven by increasing organizational efficiencies and geographic expansion within the GCC and into Asia for Alissar’s hotel floral supply business and planting material wholesale vertical. Alissar will also see expansion through a new partnership with Aramex that connects growers and buyers online.

LEBANON

Entrepreneurs: Nehman Hachem & Samer Hachem

Company:  Hintrag

Hintrag’s powdered desserts and drinks offer inexpensive and convenient alternatives to traditionally packaged goods, yet leading global brands in most countries do not cater to local palates. Investing heavily in R&D since 2008, Hintrag provides customers in 24 countries with over 120 locally-specialized varieties of high-quality powdered drinks & desserts – from Lebanese dessert mixes to Asian dumpling mixes. One of two leading players in Lebanon’s powdered food industry, Hintrag successfully secured 30% of the local market in less than six years with strong presence in MENA. Over the next three years, Hintrag plans to nearly double its global footprint and expand its product offering to better serve the African market.

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ISP candidates are interviewed by global business leaders

MEXICO

Entrepreneurs: Alejandro Maza, Alberto Tawil & Adolfo Unanue

Company: Open Intelligence [OPI]

Government intelligence just got smarter. OPI offers a customizable, easy to use, cloud-based platform that analyzes and visualizes the relationship between thousands of variables. Aside from using their own data, clients can access the information in OPI’s database, which warehouses all of the non-classified data that previous clients have uploaded. If clients want to generate more topic-specific data, OPI’s associated mobile apps facilitate on the ground data collection. When the Ministry of Interior used Arquimedes to understand neighborhood crime rates, it analyzed the relationship between education, single parent families, and over one thousand other variables. Later that year, the ministry started redesigning its policy and resource allocation strategies based on OPI’s contributions. The impact of OPI’s software soon garnered national and international media attention.

Entrepreneurs: Manuel GonzalezRicardo Arteaga & Leonardo Randolph

Company: Agroin

Anyone who’s tried searching for some tejocote (a fruit native to Mexico) or other Mexican specialties in their local grocery market knows how hard it can be find. Finding frozen tejocote that also bursts with the same fresh, authentic taste is even harder. Agroin is changing that with its frozen produce and its ready-to-eat frozen Mexican delicacies, like cheese-stuffed peppers. Already a key supplier for La Huerta, Mexico’s largest frozen vegetable brand, Agroin now seeks to expand under its own distinct brands.

Entrepreneur: José Antonio Díaz

Company: Provive

Provive is reinvigorating foreclosed and abandoned Mexican communities with vida, or life. According Infonavit and Sociedad Hipotecaria Federal, more than two million low-income homes built in Mexico over the past ten years are suffering the effects of abandonment and foreclosure due to poor urban planning and the absence of organized social structures that strengthen communities. Provive’s business buying, refurbishing, and reselling abandoned homes and building community centers and programs regenerate the urban and social fabric of Mexico.

Entrepreneur: Edgar Cory Crespo

Company: COLOüRs

Mexican marketing and media agency COLOüRS helps companies brighten up their branding. COLOüRS starts with a simple truth: consumers find advertising boring. Mass-marketing might reach many, but they engage few. COLOüRS creates memorable experiences to connect brands and celebrities with consumers who share a passion for fashion, art, music, entertainment, and sports. In order to be the gateway between premium brands, top talent, and elite consumers, COLOüRS operates three vertically integrated subsidiaries specializing in marketing and talent management. One of these is CMX Talent, the first formal talent management agency in Mexico.  COLOüRS produces 150 events and festivals annually, including the biannual Mercedes-Benz Fashion Week Mexico and the Coca-Cola Fifa World Cup Trophy Tour.

MIAMI

Entrepreneur: Anabel Perez

Company: NovoPayment

The payments ecosystem in Latin America is faced with anemic technologies that are unable to meet the demands of an ever-changing payments landscape. This imbalance leads to an underdeveloped prepaid value chain, where banks are unable to reach lower income “unbanked” customers, enterprises lack a system to incentivize their employees, and retailers are forced to rely on costly cash payments. NovoPayment helps companies reach a broader base of customers and increase their revenues by providing them with the infrastructure to build their own prepaid and mobile wallet programs. The market for cash conversion to digital means, such as prepaid account services, is estimated to reach US$16 billion in 2015. NovoPayment facilitates 70 million transactions annually through a portfolio of 9,000 clients that spans Fortune 500 companies and Latino micro-businesses.

Entrepreneur: Brian Brackeen

Company: Kairos

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. Even if people change their appearance – by growing a beard or putting on glasses – Kairo’s software will recognize them. The software’s pricing model allows clients to use it for free (for up to 50,000 identifications), and scale the service to meet their specific use requirements and budget.

PERU

Entrepreneurs: Azucena Gutierrez & Eduardo Gutierrez

Company: Disfruta

The juice industry in Peru is ripe for innovation. Peru leads Latin America in its vast diversity of exotic fruits, and although juice has always been a staple of the Peruvian diet, production has remained informal, with most juice makers blending ingredients from small roadside carts. Disfruta is modernizing the juice industry in Peru by pioneering a chain of juice bars designed to appeal to sophisticated, health-conscious consumers. Peruvians drink one million liters of juice every year, with juice consumption skyrocketing at annual growth rates of 43%: two times the rate of their Latin American counterparts. Over the course of six years, Disfruta has taken advantage of this opportunity to launch 30 locations and aims to double its revenues by 2017.

Entrepreneurs: Alvaro Diaz & Martin Olano

Company: Pulso Salud

Pulso Salud is breathing new life into the healthcare industry. Occupational health laws are a growing trend in Latin America that are mandating employers to protect their workers from hazards to safety and health, such as exposure to toxic chemicals, excessive noise levels, or unsanitary conditions. In Peru, these legal mandates impose a particular challenge because of the inadequate state of the healthcare infrastructure. Pulso Salud tackles this healthcare deficit by providing medical exams to workers that ensure companies are in compliance with legal requirements. With four million individuals working in the formal economy, the market for Pulso Salud’s services is $400 million in Peru alone. Having already established two medical centers in Arequipa and one in Lima, Pulso Salud seeks to use its existing traction to expand its footprint domestically.

SPAIN

Entrepreneur: Sira Perez de la Coba

Company: Shot & Shop

Shot & Shop founder and CEO Sira Pérez de la Coba has invented the first image recognition and retrieval technology able to identify accurate visual matches in real-time, without having previously seen the image, pattern, or verbal tag. Shot & Shop’s proprietary technology has a host of commercial applications. In its first application, retail brands and digital advertisers are using Shot & Shop to better understand consumer preferences and improve the relevance and efficacy of targeted marketing, which drives online sales. The technology is especially equipped for real-time digital ad bidding, and is the only visual search technology able to make real-time digital ad recommendations based on a publisher’s visual content.

TURKEY

Entrepreneur: Cenk Soyak

Company: AloTech

For AloTech customers, the days of the phone operator are numbered. When Cenk Soyak founded the company in Turkey, local contact center solutions were extremely expensive and international players had not yet entered the market. Cenk built AloTech not only as a local and affordable contact center solution but also one that was technologically forward thinking, providing its services via the cloud. AloTech offers cloud-based and “pay-as-you-go” call center solutions, as opposed to traditional, on-premise, high cap-ex call center solutions.  By eliminating hardware, software, and maintenance costs and offering flexibility and ease of use, AloTech offers significant advantages over its competitors.

URUGUAY

Entrepreneur: Rafael Atijas

Company: Loog Guitars

Loog Guitars designs and sells three-string guitars for children that simplify the playing process without losing the quality experience. Loog’s customers assemble their own customized guitars. The experience of building the guitar instills in the child a sense of accomplishment and ownership, while allowing parents to share their appreciation for music and create memories with their kids.

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Endeavor Miami’s final night celebration featured top members of the network

Chile’s DBS Beauty Store Plans Acquisition by National Pharmaceuticals Brand SalcoBrand

Chile’s DBS Beauty Store, founded by entrepreneur Dominque Rosenberg, recently announced plans to be acquired by Chilean pharmaceuticals giant SalcoBrand. DBS currently operates over 30 stores throughout Chile in addition to a variety of other distribution channels. Formed in 2006, DBS is dedicated to the distribution of beauty products for professional and consumer use, representing over 35 international brands.

SalcoBrand, which owns national brands like PreUnic, MakeUp, Medcell, Medipharm and Pharma Benefits, has a portfolio of over 500 stores in Chile. The acquisition, according to SalcoBrand, complements the range of beauty and health products featured in the firm‘s premium segments. DBS will continue to operate autonomously under the brand and the executive team will continue to lead management. Both parties are currently awaiting approval from the National Economic Prosecutor (FNE) to validate the acquisition.

Selected as an Endeavor Entrepreneur 2011, Dominique and DBS have created more than 400 jobs and reports sales in the millions. Tired of shuttling around Santiago to buy assorted brands of mascara, moisturizers and the like, Dominique founded DBS with the vision to reinvent the consumer beauty experience in Chile. DBS has introduced a convenient and fun shopping experience that includes both beauty products imported from around the world and private label products. Endeavor has provided Dominique with a custom advisory board of industry experts and mentors who have helped guide the team on growth, acquisition and product development strategies.

Read more about the news in Chilean media by clicking here.

 

December 2014 Newsletter

DecNewsTo view Endeavor’s December newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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2014 Global Entrepreneurship Summit in Morocco Spotlights the Endeavor Network

GES2014The 5th Annual Global Entrepreneurship Summit took place in Marrakech, Morocco this year, serving as one of the world’s largest celebrations of entrepreneurs who bring ideas to life by creating enterprises, driving economic growth and expanding human welfare. The event attracted over 3,000 participants to Morocco, including top entrepreneurs, high-level government officials, corporate leaders, students, and innovators from all over the world. The event was supported by Endeavor Morocco and featured key members of the local network.

As a knowledge partner of the GES, Endeavor Morocco produced a learning track on “Scale-Up Experiences” during which high-impact entrepreneurs shared stories of the challenges they faced while scaling their companies and multiplying their impact. Rhett Morris, Director of Endeavor Insight, also participated in a plenary session on “transforming the speed and scale of entrepreneurship” and presented the preliminary results of a research initiative on Casablanca’s entrepreneurship ecosystem. Watch Rhett’s address below.

Endeavor Entrepreneur Youssef Chaqor, founder of Kilimanjaro, had the opportunity to meet and participate in a roundtable discussion with U.S. Vice President Joe Biden. Youssef was cited by the U.S. Administrator for small businesses, Maria Contreras-Sweet, during the GES closing speech and was highlighted as an inspiring high-impact entrepreneur who is helping to support the next generation of entrepreneurs.

“Youssef pioneered a method to transform waste into energy by recycling used cooking oil into biofuel that reduces carbon emission by 70% compared to petroleum,” said Contreras-Sweet in her speech. “It’s an amazing advancement in science, but that’s not where Youssef’s story ends. Youssef is now creating a network of young entrepreneurs in charge of collecting oil from households to help improve the air that we breath. By 2020, Youssef hopes to create thousands of new jobs through this collection program. One entrepreneurs’ work holds the potential to create thousands of micro-entrepreneurs. You don’t have to be a brilliant scientist to change the world. We all have a role to play.” Watch the full speech below.

Endeavor Morocco was also present in the Innovation Village, where the team organized a booth to present the organization’s model and impact both in Morocco and on a global scale.

View video recaps of the entire Summit by clicking here.

Endeavor Celebrates Global Entrepreneurship Week Around the World; Focuses on the Impact of Scale-Ups

GEW LOGO


Global Entrepreneurship Week (GEW) 2014 took place from November 17th – 23rd with a number of activities in celebration of the innovators and leaders that are transforming economies and promoting ecosystems of entrepreneurship worldwide. This year, more than a dozen Endeavor offices around the world hosted events during the week, joining 150 countries and more than 25,000 global activities and competitions. Each November, GEW works with supporting organizations to foster opportunities for collaboration, discussion and inspiration.

On social media, Endeavor Twitter handles globally participated in a campaign focused on the impact of scale-ups and their impact on economies and job creation. This campaign took the form of visuals highlighting the numbers of jobs created by Endeavor Entrepreneurs in all 20 of the markets the organization operates in, from Argentina to South Africa. In addition, Endeavor hosted a Twitter conversation with top entrepreneurship influencers focused on the #ScaleUpImpact of high-growth entrepreneurial ventures, inspired by The Global Scale Up Declaration. View highlights from the chat by clicking here.

 

Below are highlights of Endeavor’s GEW activities in a selection of countries where the organization has an established or growing presence.

Argentina

Endeavor Argentina organized an Experiencia Endeavor event in the city of Mendoza to highlight the development of the local entrepreneurial ecosystem, promoting Endeavor’s mission and entrepreneurs’ success stories. Endeavor Argentina also announced the expansion of its offices to Patagonia and Mendoza, both of which will be operating by 2015.

Brazil

In addition to leading the movement in Brazil by mobilizing partners, defining the national campaign and organizing key activities, Endeavor Brazil hosted  eight official “opening” events across its local offices. All of these events explored the theme of this year’s national campaign under the brand “Don’t Let Any Obstacle Be Greater Than Your Dream”, which brought together experts and entrepreneurs to discuss the challenges facing local ecosystems. Endeavor Brazil also participated in events organized by its partners, including a discussion on legislation related to entrepreneurial education hosted by the Chamber of Deputies and a competition for the best education initiatives conceived by the GEW National Board.

Brazil

Endeavor Brazil MD Juliano Seabra spoke at a national GEW event

Chile

Endeavor Chile promoted and hosted several large scale events across the country, including Endeavor Experiencia Patagonia which was one of the largest national events put on during GEW. Experiencias are high-impact events hosted by Latin American offices which seek to contribute to the development of local entrepreneurial ecosystems through workshops, presentations, discussions and more. Startup Day Chile closed GEW week with support from Endeavor Chile. Startup Day  is an event series of lectures and conferences for entrepreneurs with the goal of motivating and inspiring the 300 participants. Several GEW Chile program events took place all around the country, including a celebration of Women’s Entrepreneurship Day – it was the the first “Girls in Tech” event in Viña del Mar that aimed to kickstart a local community of women in technology.

Colombia

Endeavor Colombia was a major player in its local GEW events, helping to support a marked increase in participation nationwide – nearly 100,000 people attended Colombian events this year compared to only 2,200 in 2012. More than 420 activities were held throughout the country and Colombia stood out for its proactive and innovative initiatives. In Latin America, Colombia was recognized for organizing the most events and placed fifth globally behind the UK, the U.S., Algeria and Canada.

Egypt

Endeavor Egypt worked closely with the U.S. Middle East Partnership Initiative (MEPI) and the Embassy of the United States in Cairo to organize a half-day event titled “Entrepreneurship: From Start Up to Scale Up”. The event took place on November 19th during Women’s Entrepreneurship Day and all the talks and presentations were given by influential women in the entrepreneurship ecosystem. Endeavor Egypt Managing Director Heba Gamal gave the keynote speech, addressing Endeavor’s role in the ecosystem as well as the Endeavor multiplier effect.

Jordan

For the fourth year, Endeavor Jordan partnered with INJAZ, a non-profit youth organization, to host an educational event for INJAZ students during GEW. This year, Endeavor Entrepreneur company The Online Project led a two-hour workshop on “Social Media for Start-Ups: How to Accelerate Your Business”. The workshop was held at INJAZ’s headquarters and attended by students from the Company Start-Up Program (part of INJAZ’s Entrepreneurship and Employment unit). Participants received a comprehensive introduction on the value of social media for marketing their businesses, as well as tips and advice on effectively promoting new products and services online.

Jordan

Endeavor Jordan hosted a workshop focused on social media

Lebanon

As part of GEW in Lebanon, dozens of SMEs and industry leaders gathered on November 19th at Beirut Digital District (BDD) for IGNITE, a first-of-its-kind event where entrepreneurs pitched their products and discussed commercial deals with C-suite representatives from large corporations. Organized by Endeavor Lebanon and Beirut Digital District, the event united suppliers and buyers from the best Lebanese startups and leading companies in the real estate and finance sectors. Through a series of 15-minute discussions with each of the participating corporations, every attending entrepreneur got the chance to showcase their products and hear honest expert feedback, in a speed dating format. The entrepreneurs’ one-on-one meetings with decision makers and industry veterans offered much-needed market feedback on the proposed products. The speed dating sessions were followed by a networking event.

Peru

Endeavor Peru showed its support for various organizations that propel the regional ecosystem by being a part of a number of GEW events. The team was also involved in a number of conferences about entrepreneurship, including Start-Up APEC, an event that promotes innovative businesses and entrepreneurship in Asian-Pacific economies. Endeavor Peru was also represented at an entrepreneurship conference in Universidad San Ignacio de Loyol and as a judge in a business project competition at IPAE School of Business.

Kingdom of Saudi Arabia

Endeavor KSA participated in a number of GEW activities across the country. For the first time in Gizan, Endeavor KSA joined the First Innovation and Entrepreneurship Forum, which was attended by students, entrepreneurs and entrepreneurship-supporting organizations. Endeavor KSA Managing Director Rakan Al Eidi and Endeavor KSA entrepreneur Loai Neseem, founder of Lomar, got on stage and shared their stories and the impact of Endeavor to inspire youth in the region. The Asharqia Young Businessmen Council in the eastern side of the Kingdom organized its GEW event at the Asharqia Chamber hosting Rakan and Naif Alqahtani, LSS founder, to discuss the impact of Endeavor. Outside of the country, entrepreneur Lateefa Alwaalan, founder of Yatooq, joined the fifth Global Entrepreneurship Summit in Morocco, which highlighted the impact of technology on modern entrepreneurship. Lateefa served on a panel about promoting women’s entrepreneurship along with other recognized female entrepreneurs.

KSA

The Global Entrepreneurship Summit in Morocco featured entrepreneurs from Endeavor KSA

South Africa

Endeavor South Africa hosted one GEW event at the Johannesburg office. The guest speaker was Jenali Skuse, Employer Branding Consultant at Universum, who addressed a gathering of over a dozen people in this closed event. Skuse highlighted the importance of attracting and retaining the best talent as a key determinant of business success. She also delivered an informative and inspirational session on the basics of employer branding, talent attraction and retention. This was followed by a breakfast and an opportunity to network. In addition, Endeavor South Africa supported over 120 regional activities.

Spain

Endeavor Spain Managing Director Adrian Garcia-Aranyos spoke at a GEW event with thought leaders like Jerome Engel and Pedro Nueno, where the board of GEW gave an elevator pitch on the challenges of entrepreneurship. Endeavor Spain also took part in an ANDE (Aspen Institute) event on entrepreneurship in the Mediterranean region.

Turkey

Endeavor Turkey’s reach during GEW has expanded to 252 events with 239 partners in 48 cities. The office created a movie screening roadshow for the Alibaba.com movie ‘Crocodile in the Yangtze’, with the VIP attendance of the movie director and former Alibaba VP Porter Erisman. It was screened in seven universities in two cities (Istanbul & Ankara) and  at two VIP events, one of which was an annual signature event titled the Good Initiative Summit. Endeavor Turkey also partnered with the Istanbul Stock Exchange for the third year for the opening ceremony of GEW Turkey. They formally launched their new Private Market Platform in this kickoff event. With more than 200 attendees, Endeavor Turkey Managing Director Didem Altop curated an investors panel, where Turkey’s investment environment was spotlighted.

Uruguay

Endeavor Uruguay participated in 21 events hosted by 15 organizations across the country with over 4,300 attendees. The office also hosted an Experiencia event with over 200 participants focused on the importance of mentorship for entrepreneurs. A “Mas Emprendedoras” seminar convened female entrepreneurs from across the region, bringing together over 350 women to listen to the stories of key female Endeavor Entrepreneurs in the network. Endeavor Uruguay also supported a number of competitions, incubators, presentations and events providing advice to entrepreneurs and forums for discussion.

Uruguay

Endeavor Uruguay hosted an event for female entrepreneurs

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