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42 High-Impact Entrepreneurs from 12 Countries Join the Endeavor Network at the 55th International Selection Panel in Istanbul

Istanbul, Turkey – October 24, 2014 – At the 55th Endeavor International Selection Panel (ISP), 42 high-impact entrepreneurs leading 23 companies from 12 countries were welcomed into the Endeavor network. Endeavor now supports 990 High-Impact Entrepreneurs from 629 companies across 21 countries. […]

October 24th, 2014 — by admin

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Endeavor Catalyst Participates in Recent Funding Round for Uruguay’s Scanntech

Endeavor Catalyst recently joined the funding round for Uruguay’s Scanntech, a leading technology platform that connects retailers in emerging markets to consumer products companies, financial institutions and more. Marking Endeavor Catalyst’s seventeenth investment, the Scanntech […]

September 30th, 2014 — by admin

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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.

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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

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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

Endeavor Entrepreneur Companies Featured in The Economist Ranking of Top Internet Companies

The_Economist_LogoThe Economist recently charted the top three internet and technology companies in 50 countries based on data from the World Startup Report. The ranking demonstrates the number of emerging markets with growing tech scenes that are succeeding outside of the U.S. Six Endeavor Entrepreneur companies were featured in the chart as well as ventures founded by Endeavor Board Members, illustrating the global impact of the organization’s network. 

The ranking includes South Africa’s Yola (founded by Vinny Lingham), Argentina’s MercadoLibre (founded by Nicolas Szekasy, Hernán Kazah and Marcos Galperin), Turkey’s Yemeksepeti (founded by Melih ÖdemişNevzat Aydın, and Cem Nufusi), Colombia’s Bunny Inc. (founded by Alex Torrenegra and Tania Zapata) and PayU LatAm (founded by Martin Schrimpff and José Fernando Vélez)  and Chile’s Clandescuento (founded by Felipe Henríquez, Oskar Hjertonsson and Daniel Undurraga).

View the complete graphic by clicking here.

Endeavor Expands Presence in Europe with the Launch of Endeavor Spain

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Madrid, Spain – July 14, 2014 – Earlier this year, Endeavor announced that it has expanded its European presence with the launch of Endeavor Spain, marking the organization’s second affiliate in Europe.  Supported by some of Spain’s most influential entrepreneurs and business leaders, Endeavor’s launch has the potential to transform the Spanish economy and create much-needed jobs in a nation unsettled by rising unemployment. Endeavor first expanded in the region in 2012 with the formation of Endeavor Greece.

Between 2008 and 2013, Spain’s GDP saw minimal or negative growth year-over-year according to data from the The World Bank. Youth unemployment rates reached nearly 56% in 2013, making it the second most challenging economy for new graduates in the European Union, after Greece. With an increasing number of young people entering the workforce with few traditional job prospects, entrepreneurship has been on the rise  an estimated half of Spain’s entrepreneurs are currently between the ages of 18 and 34. Spurred in part by necessity, the rate of new startups in the region has increased over 8% and registrations of self-employed individuals increased by over 20,000 in the beginning of 2013. At the same time, however, only 5% of these startup companies reported employing 10 or more people, demonstrating the lack of proper resources and support for entrepreneurial growth. This is where Endeavor sees the potential for its model to transform the economy and foster an ecosystem of entrepreneurs whose businesses are able to move beyond the startup stage to become high-impact, pioneering ventures.

Given access to the right mix of mentors, business networks, capital and strategic advice, Endeavor Entrepreneurs have the potential to attract top talent and investments to the regions that need it the most.  With a favorable environment for entrepreneurial growth, Spain has the necessary infrastructure to build a support network for businesses that can not only boost the economy, but also create a key market for jobs. In addition, an ecosystem of successful entrepreneurs will serve as vital role models and investors for future generations, creating a solid foundation for economic recovery and empowerment for years to come.

“We are excited to help unlock the potential of Spain’s growing pool of entrepreneurs,” said Endeavor co-founder and CEO Linda Rottenberg. “We know from our work in Greece and other challenged markets that entrepreneurship thrives in down economies, and Spain right now is primed for a major boom.”

Founded in 1997, Endeavor selects and supports high-impact entrepreneurs who have the potential to scale from promising SMEs into companies that create hundreds, if not thousands, of jobs and generate significant revenues. Once selected, Endeavor Entrepreneurs are given world-class strategic mentoring advice, access to key networks and other tools and talent programs that can catapult them to success.

In the past 16 years Endeavor has selected 917 entrepreneurs from over 20 countries around the world in Latin America, Africa, Europe, the Middle East, and Southeast Asia. In 2012, these entrepreneurs generated US $6.0BN in revenue and had created 250,000 jobs.

All of Endeavor’s global affiliates are spearheaded by a local board of business leaders, each of whom believes strongly in the ability of high-impact entrepreneurship to transform economies. The Endeavor Spain founding board includes: Jaime Carvajal Urquijo, Special Partner & former Managing Director of Advent International; Jose Maria Alvarez Pallete, CEO & COO of Telefonica S.A.; Angel Cano Fernandez, President of BBVA; Sabina Fluxà, Executive Vice President & CEO of Grupo Iberostar; Javier Monzon, Chairman & CEO of Indra; Javier Perez Dolset, Chairman & CEO of Zed; Jose Luis Perelli, Audit Managing Partner, Audit Services of Ernst & Young Spain; and Francisco José Riberas Mera, Chairman & CEO of Corporacion Gestamp. Alvaro Lopez-Jorrin, Corporate Law Partner of Garrigues, will serve as secretary of the board.

The Board of Endeavor Spain truly looks forward to being able to make a significant and lasting impact in the creation of a consolidated entrepreneurial ecosystem in Spain,” said Board Chairman Jaime Carvajal.

The board has selected Adrian Garcia-Aranyos as Managing Director to oversee the successful launch of Endeavor Spain. Mr. Garcia-Aranyos served previously as Vice President of Media Relations for Latin America at J.P. Morgan Chase and as the Americas Marketing Director and Latin America co-head for The Economist Group. As MD of Endeavor Spain, he will lead the day-to-day operations of the office in Madrid and will be involved in screening local entrepreneurs for selection into the network.

Greece’s Kerstin Trikalitis, Co-Founder of Out There Media, Joins Jury at the 2014 Cannes Lions Festival

cannes lionsEndeavor Entrepreneur Kerstin Trikalitis, co-founder of Greece’s Out There Media, was recently named to the jury in the “Mobile” category at the 2014 Cannes Lions Festival, a premiere international awards event for professionals in the creative communications industry. Often considered the largest worldwide gathering of designers, digital innovators and marketers, the festival recognizes the best in creativity and innovation in global media. Kerstin’s honor demonstrates a growing interest in the potential of high-impact entrepreneurs in emerging markets like Greece.

As part of the Mobile Lions jury, Kerstin worked with 14 global judges representing top names in branding and media to review over 1,000 entries in the category. The submissions encompassed creative works  activated by a mobile device, app or mobile web and were judged based on creativity, execution, relevance and results. Now into its 61st year, the Cannes Festival convened over 12,000 delegates from more than 90 countries to network and celebrate the best in brand communications. The week-long agenda consisted of 60+ world-class seminars which put 500+ speakers on the global stage, as well as more intimate and targeted learning through forums and workshops. This year, over 37,000 entries from 97 countries competed for awards.

Mobile Lions Jury-Cannes 2014

The Mobile Lions Jury in Cannes

Being honored as a jury member demonstrates Kerstin and her team’s success as emerging market entrepreneurs. When she founded OTM with fellow Endeavor Entrepreneur Daphne Loukas in 2007, the pair anticipated the boom in mobile advertising in regions that depend on non-traditional devices for digital connectivity. With offices across Europe, Asia and North America, OTM works with brands and advertisers, SMEs and e-commerce companies to enable them to maximize awareness and loyalty among their consumers through innovate mobile and digital campaigns. The company has formed partnership agreements with over 40 mobile carriers across Europe and Asia, reaching approximately 500 million subscribers via its multi-channel advertising marketplace called Mobucks. Since their selection into the network in 2013, the OTM team has worked with Endeavor to gain insights on fundraising and have participated in a number of Endeavor Investor Network events.

“It has been an amazing experience to be part of the Mobile Jury for Cannes Lions this year as one of the 15 jurors from across the globe! We have seen the most ground-breaking work that the world has to offer in ‘Mobile’ up to this day,” said Kerstin. “I am very honored to have been part of the experience and am convinced that Mobile will become an ever more integral part of any brand communications strategy in the years to come. Lastly, I encourage all of us Endeavor Entrepreneurs that work in advertising technologies to submit our best practices for Cannes Lions 2015!”

 

Endeavor CEO Linda Rottenberg Discusses Her Entrepreneurial Journey in Business Insider

BusinessInsiderEndeavor CEO Linda Rottenberg was recently interviewed by OneWire‘s Skiddy von Stade about the Endeavor story and her own entrepreneurial path. The interview was featured in Business Insider, highlighting Linda’s journey from law school to Latin America and, ultimately, to co-founding the world’s leading supporter of high-impact entrepreneurs in growing economies.

Watch the two-part interview by clicking here and here, or below.

July 2014 Newsletter

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

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2014 Endeavor Gala on November 7th to Honor Arif Naqvi

Arif Naqvi - high resol#12AEndeavor announced this month that its 2014 Gala on Friday, November 7th in New York City will honor Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group.

A visionary entrepreneur, Mr. Naqvi founded The Abraaj Group in 2002. The firm has since emerged as a leading investor in growth markets with US$ 7.5 billion in assets under management. Employing over 300 people, the Group has 25 country offices spread across six regional hubs in Dubai, Istanbul, Mexico City, Mumbai, Nairobi and Singapore.

In 2011, Mr. Naqvi was named as one of the 50 most influential people in the global private equity industry by Private Equity International. He has been the recipient of numerous awards, including the Oslo Business for Peace Award, the highest form of recognition given to individual business leaders for fostering peace and stability through creating shared value between business and society. At the Gala, Mr. Naqvi will be presented with Endeavor’s 2014 High-Impact Entrepreneur of the Year Award, which honors global entrepreneurial role models and leaders of the high-impact entrepreneurship movement.

Mr. Naqvi and The Abraaj Group have developed an important partnership with Endeavor over the past four years, supporting dozens of entrepreneurs and playing a critical role in Endeavor’s affiliate expansion throughout the Middle East, North Africa and Southeast Asia.

To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at gala@endeavor.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.

Uruguay’s PedidosYa Acquired By Delivery Hero, Expands Network to 20 Countries

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Uruguay’s PedidosYa, an online solution for food delivery in Latin America, recently announced a majority acquisition by Germany-based Delivery Hero. Founded by Endeavor Entrepreneurs Ariel Burschtin, Álvaro García, and Ruben Sosenke in 2009, PedidosYa currently operates a network of 12,000 partner restaurants within nine countries in Latin America, with plans to launch in three more countries. The acquisition highlights the importance of e-commerce platforms in the region’s consumer service industry as well as a growing global interest in Latin American markets.

Predicting the rise of e-commerce services and noting the absence of food delivery solutions in the region, the trio launched their app in their native Montevideo, Uruguay with the hopes of creating an innovate  service platform for Latin Americans. Restaurants, enticed by the company’s streamlined order processing and new sales channel, rapidly signed up  for PedidosYa. The company has now grown to 150 employees across Argentina, Brazil, Chile, Colombia, México, Perú, Puerto Rico, Uruguay, and Venezuela. The app has reported over two million downloads and receives nearly 200,000 orders per month.

Looking to gain a foothold in the region’s markets, Delivery Hero bought out existing investors in PedidosYa, backed by a recent round of funding led by Luxor Capital Group. A global leader in online food ordering with more than 60,000 partner restaurants worldwide, Delivery Hero currently operates in 12 countries across Europe and Asia with over 800 employees. For less than a year, the two companies have operated in a confidential partnership, a cooperation which has proven beneficial, more than doubling PedidosYa’s volume of orders. PedidosYa will remain an independent brand, and the acquisition is expected to increase Delivery Hero’s representation to 20 countries spanning four continents.

Latin American companies mostly limit themselves to their national markets. We belong to a new generation of entrepreneurs who focus on international expansion,” said Ariel in a statement. “In this sense we fit perfectly to Delivery Hero and are pleased to be part of the global leader.”

Since their selection at the 41st Endeavor ISP, Ariel, Alvaro and Ruben have received strategic mentorship support from Endeavor. The team has also participated in Endeavor’s eMBA program and in Endeavor Investor Network events.

Read the full press release of the announcement here.

Save The Date: 2014 Endeavor Gala Honoring Arif Naqvi

Join over 500 entrepreneurs, business leaders and Endeavor network members in the heart of Manhattan for a celebration of the high-impact entrepreneurship movement and Endeavor’s expansion to 20 emerging and growth markets worldwide. The Gala will honor Arif Naqvi, Founder and Group Chief Executive Officer of The Abraaj Group, with the High-Impact Entrepreneur of the Year Award. All proceeds directly support Endeavor’s work and efforts to expand to 25 countries by 2015.

To become a sponsor, purchase tickets or tables, or make a donation, contact Leah Sivieri at gala@endeavor.org. You can also purchase tickets, place Tribute Program messages/ads, or donate online at http://2014endeavorgala.eventbrite.com.

2014 Endeavor Gala Save the Date

 

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