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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 and Arvento Win People’s Choice Stevie® Awards

On the heels of its Bronze Stevie® Award, Endeavor was named the People’s Choice Award winner for Favorite Company- Non-Profit or Government Organizations Category- in the 10th Annual International Business Awards. Endeavor Turkey Company Arvento […]

September 27th, 2013 — by admin

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The 4Ps of a fully alive business

Reprinted from Ducttapemarketing.com. See original post here.

By John Jantsch

Back in the early 1960’s the American Marketing Association coined the term the “Four ‘P’s” as a way to describe the essential elements of the marketing mix. Since that time every first year marketing student has been taught to think in terms of product, price, place and promotion as they analyze case studies of companies real and imagined.

Much has changed in the last 50 years, including what product really is, what place entails, how package plays a role and, well, pretty much everything about what promotion looks like.

In fact, the very definition of marketing has changed dramatically enough to render the original Four P’s somewhat useless as a foundational marketing and business strategy concept.

Today’s most important business and marketing directive is one of building trust. Engagement, connection and story are the new forms of promotional art. Price is a function of value and place has become bytes and ether more often than a shelf or an office.

There is a home for the Four P’s in today’s business but it’s in the very mortar of the business and the story of its people rather than in a department on an org chart.

The Four P’s are now more about how a business is experienced than what it sells. They reside in the expression of human characteristics that turn commitment into culture and culture into customer.

The following elements make up a redefinition of the Four P’s for the fully alive business and further make the case that marketing is everything you do and every business is really a marketing business.

Passion

The first element of the Four P’s in a fully alive business is the passion for living that the owner of the business brings. When the founder of a business can serve their own personal passion and purpose by growing the business, good things can evolve.

The leader of a business must have a great sense of passion for the business, but they also must be able to connect that passion with purpose in order to bring out the desire to commit in others. Leading with passion is how you put yourself out there and do what you were meant to do.

“A ship in port is safe but that’s not what ships are built for.” ~ Grace Murray Hopper

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The National features Khaled Ismail

Endeavor Entrepreneur Khaled Ismail, the Egyptian founder of SySDSoft, a wireless communications company that has expanded from just two people to more than 100 staff since its founding in 2002, gave an interview to UAE newspaper The National. In the interview he discusses the challenges he has faced over the past decade since starting his business, and his more recent efforts to give back by helping newer entrepreneurs achieve their goals.

On becoming the first entrepreneur in Egypt to be awarded free advisory services from Endeavor Global, and how this helped his business:

“We were subjected to interviews by executives at Cisco, IBM and several other reputable companies. These individuals had a lot of experience and raised a lot of good questions. Sometimes a good question is more valuable than a solution or answer. Then we were subjected to even more severe scrutiny, and every panel asks you very fundamental questions about your business model. All of that helped us put everything correctly in context to grow the company with the right view of our strengths and weaknesses.”

“[Endeavor] assigned a mentor. We had an offer at one point to be [taken over], and my mentor gave me guidelines on what is a good price, and whether to sell or not. We did not sell at the time, which was a wise decision.”

On being elected board chairman of Endeavor Egypt, and how his role will help other entrepreneurs:

“With early-stage entrepreneurs, fresh out of university, a nice idea may just need help from angel investment. Then you start growing it and you can potentially become a high-impact entrepreneur, and that’s where we pick up. But you need someone to work with the different entities and create that pipeline. Here, we have to make sure the pool of entrepreneurs exist and are helped. You have to bring the VCs [venture capitalists], investors and convince them this is a good investment.”

The full interview can be found here

Endeavor Chile firm Atakama acquired by Japan’s DeNA

Atakama Labs, a mobile gaming startup founded by Chilean Endeavor Entrepreneurs Tiburcio de la Carcova and Esteban Sosnik, has been acquired by prominent Japanese mobile-social company DeNA. Through this acquisition, Atakama has become the first Latin American subsidiary in DeNA’s growing global portfolio.

Atakama will now be involved in work on the social mobile gaming platform Mobage Global, which is operated by DeNA’s US arm Ngmoco, acquired last spring. DeNA states that “Atakama Labs will primarily provide engineering support for Ngmoco’s first-party and third-party games, as well as the Mobage platform itself. The companies already have an established relationship through previous work commissioned to Atakama to port third-party mobile social games to Mobage Global.” Ngmoco’s CEO says, “Atakama Labs’ highly skilled engineers and experienced management team will be a great asset as we grow.”

Atakama Labs has previously made itself known with Facebook’s Little Cave Hero game, an exploration and city-building game that includes user-generated content, making it more complex than many competing games in the city-building category.

DeNA became a billion-dollar company through success with mobile social games in Japan, and now aims to become a global gaming giant, which will mean taking on a great number of foreign employees. According to the company, “Currently DeNA Group has a staff of nearly 400 worldwide, working on social games for smartphones, and the Group plans to expand the team to 1,000 in the near future. The acquisition of Atakama Labs will add a team of 30 to DeNA’s global staff.”

Some experts have viewed the deal as a landmark for fellow Chilean entrepreneurs, as it will further fuel the growing perception that Chile is developing into a hub for high-growth entrepreneurship.

For more details on the deal, check out the coverage in VentureBeat.

Linda Rottenberg interviewed for Hürriyet

During a recent trip to Turkey, Endeavor Co-Founder and CEO Linda Rottenberg participated in a video interview for Bloomberg Turkey, and was interviewed by Hurriyet, a top Turkish newspaper. Below is a translated summary of Linda’s remarks:

“You have entrepreneurship in your DNA.”

Linda Rottenberg says that Endeavor is a community where innovative, creative people gather together — where entrepreneurs who think big can get the help and support they need to reach their goals.

According to Rottenberg there is a fast growing entrepreneurship ecosystem in Turkey. “When I was studying at Harvard during the 80’s many of my friends were looking for jobs in big firms, but my Turkish friends were more into creating ideas and starting their own companies. During the financial crisis in the United States everyone is talking about what should be done but nothing is actually being done. They’ve lost the spark. However in emerging markets like Turkey people are talking less and actually going after their visions and dreams. I think that’s the biggest difference. The global crisis also created many opportunities for small to medium enterprises in emerging markets in terms of both human resources and the opportunity to buy or merge with bigger brands.”

Rottenberg says that investors have taken more interest in Turkey than China or India recently and Turkish entrepreneurs are taking this opportunity and using it to their advantage. She is soon expecting “garage companies” like Google and Apple to come out from Turkey. “There are already some Turkish technology companies that are known very well worldwide in their sector but not known widely because their models are business to business, not of business to customer.” “The new trend is emerging to emerging (E2E) where emerging markets are taking an interest in one another. It is not just developed countries like the U.S.A taking an interest in Turkey but China, India and others are too!”

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The article also mentions Investor Trek, where many members of Endeavor’s Investor Network will be gathering in Turkey in December 2011 to meet with Turkish Endeavor Entrepreneurs.

UAE newspaper highlights Endeavor’s role in the Middle East

UAE-based newspaper The National recently published a feature on Endeavor’s role in the MENA region, including plans to eventually open an office in Dubai. For the time being, Endeavor Global operates a satellite “support” office in the country, in partnership with Abraaj Capital.

The article quotes Linda Rottenberg, Endeavor’s co-founder and CEO:

“‘The Middle East is really one of the hotbeds of entrepreneurial activity…A support office that could marry a lot of the investors and [business] networks that come through Dubai seems to mirror what we have found in Silicon Valley and New York City. This is an entry point where I hope to service entrepreneurs not only from the region, but in the UAE and GCC.”

The article goes on to discuss the growing focus on start-ups in the region, emphasizing their transformation into larger enterprises:

In the UAE, specifically, efforts to boost the overall number of small to medium-sized businesses over the years have largely focused on the creation of new start-ups.

Many of the services offered through Abu Dhabi’s Khalifa Fund provide Emirati entrepreneurs with start-up capital or advisory services focused on selecting a business idea and evaluating its feasibility.

A number of universities throughout the country have also created competitions that reward students who come up with business plans for new start-ups.

But there is also a growing effort to expand smaller firms into medium or even large-scale enterprises.

The piece makes further mention of Endeavor’s role in the region:

Endeavor Global, which opened a branch in Lebanon last year and plans to open one in Saudi Arabia during the first quarter of next year, customises its services depending on what an entrepreneur most needs. A larger business looking to expand into international markets might be provided with high-level strategic mentorship, while a smaller company could gain assistance with targeted employee recruitment or marketing initiatives.

The full article can be found here.

The difference between entrepreneurship and scalable entrepreneurship

According to a recent article in Slate, “Why Small Businesses Aren’t Innovative,” as world governments have reacted to the recession, significant focus has been placed on job creation and how to best support the so-called small business owner. Indeed, the small business owner has long been considered a central force behind the world’s free economies. At Endeavor, we too have long championed SMEs, but with a caveat. Our focus has been on scalable or “high impact” SMEs — businesses that have significant growth potential and can therefore play a disproportionate role in emerging market development.

The article goes on to discuss how in their scramble to find ways to motivate entrepreneurs to invest, expand, and hire, academics and policy makers have uncovered some interesting outcomes. In particular, in their paper “What Do Small Businesses Do?,” University of Chicago economists Erik Hurst and Benjamin Pugsley have shed light on the importance of identifying businesses truly capable of significant expansion. According to Hurst and Pugsley, the growth-seeking and innovative entrepreneur is truly a rare thing; and most small business owners lack both the desire and the innovative idea necessary to foster significant growth.

Inasmuch as this is the case, there are significant implications in terms of public policy. Rather than create programs designed to stimulate small businesses en masse, perhaps it would be more efficient to focus on those rare entrepreneurs capable of creating the kind of growth that we so desperately need. In other words, when seeking scale, stimulate the scalable.

A new Ernst and Young sponsored report released by Endeavor and the Global Entrepreneurship Monitor (GEM) provides a similar perspective, validating that a powerful answer to job creation lies in high-impact entrepreneurship. Endeavor has long held this view — and the increased focus on business solutions to employment in light to today’s economic climate seems to have lent it further credence.

2011 Impact Report

Endeavor has released its 2010-2011 Impact Report! DOWNLOAD THE REPORT [PDF] for insight into how Endeavor is transforming the world through High-Impact Entrepreneurship. From Entrepreneur spotlights to country snapshots to colorful photos of events and network members, it’s all here!

For a quick glance at our most recent impact metrics, click here.

Debut exit for Colombia VC firm: Endeavor company Ecoflora spins off agriculture business

By Justine Hart, Daniel Uribe and Melissa Tran.

Ecoflora, a Colombian biotech and natural products company pioneered by Endeavor Entrepreneur Nicolás Cock Duque, has spun off its agricultural business unit to create Ecoflora Agro. The new subsidiary company was formed in partnership with Gowan Company, LLC, an American leader in crop protection solutions worldwide. Gowan’s share in Ecoflora was purchased from Promotora venture capital fund Progresa Capital, making this transaction the first exit of a Venture Capital fund in Colombia.

“This exit demonstrates our interest in developing the industry of Private Equity and Venture Capital in our country,” said Francisco Mira, Promotora’s CEO. “We remain committed to accompany Ecoflora and other companies of our portfolio in executing their business plans and finding and linking strategic partners that enable them to grow rapidly and efficiently.”

This partnership gives Gowan Company and its global marketing companies the exclusive right to develop, register, and market EcoFlora’s current unique plant extract based portfolio and robust product pipeline. The entry of Gowan responds to Ecoflora’s current growth strategy. “We are very excited about having Gowan as our global platform to bring our innovative and green plant extract biopesticides to such important markets around the globe. Ecoflora Agro has been working for 12 years to develop its crop protection portfolio based upon the rich biodiversity and the great and talented people that Colombia has,” says Nicolás. Gowan will participate in the operations of Ecoflora Agro along with Ecoflora’s original founders and entrepreneurs.

Gowan, recognizing demand for more environmentally friendly agricultural products, has taken on Ecoflora as part of its ongoing Gowan Green strategy. “Our goal is to develop an innovative IPM program combining our current portfolio with Ecoflora’s plant extracts. Ecoflora Agro’s existing and future products will enhance and globally strengthen our Gowan Green strategy, and they will provide unique solutions to our customers in the over 70 countries we serve,” said Sergio Comparini, Gowan’s Business Development Manager.

Ecoflora Agro will promote and sell green biopesticides and fungicides around the world, as Ecoflora has already done in a number of Latin American countries. EcoFlora Agro has developed and marketed plant extract products (bio fungicides and bio insecticides) to support growers in Colombia, Ecuador and Peru, and is known for providing its customers with innovative products and solutions to address their pest control needs. According to the Environmental Protection Agency, biopesticides are certain types of pesticides derived from natural materials such as animals, plants, bacteria, and certain minerals. According to the US Department of Agriculture, biofungicides are composed of beneficial microorganisms that attack and control plant pathogens. These products represent the core business values of Ecoflora, which develops environmentally friendly products for the agricultural, cosmetic, and pet care sectors, using natural components, bioinputs, and bioactives as their main ingredients to provide an alternative to highly contaminating products.

Nicolás Cock Duque, EcoFlora’s founder and current CEO was selected as an Endeavor Entrepreneur in 2007, and since then Endeavor Colombia has been working with Nicolás to connect him with mentorship in the area of strategic planning, intellectual property rights, human resources, among others.

One the most successful Endeavor Services programs in which EcoFlora has participated is MIT G-LABs. As part of this program, in the fall of 2009 four MIT Sloan School of Management students were paired with EcoFlora to design the company an entrance strategy into the US market. During the course of the program semester, the students analyzed various possible entrance strategies, and determined that Ecoflora should seek a joint venture with a US manufacturer.

Among companies that the team identified as potential joint venture partners for EcoFlora was Gowan Company. The G-LAB team helped to establish initial contact between the two companies, and outlined the necessary steps that Ecoflora should take to pursue this alliance. During the negotiation process with Gowan Company, Endeavor Colombia mentors provided EcoFlora with legal and strategic support.

About GOWAN

The Gowan Marketing Companies include Gowan USA, Gowan Canada, Gowan Comercio Internacional e Servicos, Limitada, Gowan Mexicana, Gowan Espanola, Gowan France, Gowan Italia and Agrotechnology in Chile, amongst other companies and partners that guarantee a global distribution platform. These companies provide an expanding offering of quality crop protection solutions for specialty crops and niche markets of agriculture. Gowan committed and dedicated to supporting specialty crop growers through regulatory defense, market experience and product development.

Endeavor Entrepreneur Nada Debs mentioned in Wall Street Journal

An article in The Wall Street Journal‘s Life & Culture Section, “Beirut,” gives a nod to Endeavor Entrepreneur Nada Debs’ Boutique.

“After years of chaos, Lebanon’s cosmopolitan capital is making a stylish comeback,” asserts the article, explaining that Nada Debs “designs furniture and objects that blend Middle and Far Eastern influences. Her pieces are modern, but with a touch of tradition—and beautifully made.”

Nada Debs, one of the first Endeavor Entrepreneurs selected by Endeavor Lebanon in 2011, has build an elite Lebanese design brand, displaying products in top furniture stores worldwide. She spent her child in Japan, and designs peaceful zen-like furniture with a mix of the aesthetic traditions of her native Middle East. Along with The Wall Street Journal, Nada’s products have been featured in The New York Times, Vogue, Monocle, and over 120 other magazines and newspapers. Featured in top furniture stores worldwide, Nada’s products give the world a tasteful peak into Beirut’s old and new culture. Check out Nada’s designs here.

Magnetic leadership

Reprinted from www.under30ceo.com. See the original post here.

By Dianne Durkin, founder and president of Loyalty Factor LLC — a training and consulting company

What is Magnetic Leadership?

The answer to that question comes from defining what it is not.

Uninspired leadership that disengages employees is the “reverse polarity” of Magnetic Leadership.

• Think of the successful professional who may have climbed the ladder without ever learning how to play well with others.
• Think of leadership that does not connect with people because the vision and purpose are not relevant to them.
• Think of leadership that talks without listening.
• Think of leadership that promises without delivering.
• Think about the cost of unengaged employees.

According to pollster Gallup, actively disengaged employees cost the U.S. workforce more than $300 billion in lost productivity alone. How much is employee disengagement costing you?

If there is weak or non-existent leadership in an organization, it is like spraying a big can of people repellent into the air that employees breathe. It kills creativity, productivity and the spark that ignites new ideas. Those organizations risk losing top talent and cultivating people with promise.

Here’s the good news: you can create Magnetic Leadership in your organization. And you don’t have to look like a rock star or a celebrity to do it. You just have to have heart, be open to some organizational soul searching, and most importantly, you have to be R.E.A.L.:

• Take an active interest in others
• Listen to people
• Act decisively and consistently based on what you hear and do

You can transform your organization, energize your employees and boost your bottom line with Magnetic Leadership. With the R.E.A.L. acronym as your guideposts, you have the opportunity to look at yourself as a leader and ask some hard questions along the way. Each answer brings you closer to being a Magnetic Leader who inspires others in your organization.

Let me highlight some of the concepts of Leadership. (more…)

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