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31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City

New York, NY – August 14th – Endeavor selected 31 high-impact entrepreneurs leading 21 companies in 15 countries at its 54th International Selection Panel. Endeavor now supports 948 High-Impact Entrepreneurs from 606 companies across 20 […]

August 14th, 2014 — by admin

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Endeavor Entrepreneur Mariano Suárez Battán promotes his newest venture– Mural.ly

Endeavor Argentina Entrepreneur, Mariano Suárez Battán, recently announced enhancements in the collaboration features of Mural.ly– his newest venture that provides digital Murals for creative teams to share their ideas anytime, anywhere. Suárez Battán’s first business, a […]

March 8th, 2013 — by admin

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Globant receives $15 million in expansion capital

Congratulations, Globant! The high-impact technology company has just raised $15 million in expansion capital from Riverwood Capital and FTV Capital. This is the third investment in Globant from Riverwood Capital and second from FTV Capital.

Selected by Endeavor in 2005 and based in Argentina, the technology outsourcing firm has attracted major global clients across industries, including Google, Coca-Cola, Disney, LinkedIn, and Nike. Globant recently created eight new studios showcasing the breadth and depth of their services, including “High Performance Computing,” “Consumer Experience,” and “Luminous Gaming.”

Over 2,000 employees strong, Globant spans offices in Argentina, Colombia, Uruguay, the US and the UK with ambitions to go public in the next few years. According to the Wall Street Journal, Globant anticipates between $80 to $90 million in sales and growth to over 3,000 employees in 2011. The present round of funding will accelerate Globant’s expansion in the Americas through acquisition and fuel growth opportunities in mobile computing.

With Globant, Endeavor Entrepreneurs Martin Migoya (CEO), Martín Umaran (COO), Guibert Englebienne (CTO) and Néstor Nocetti (EVP Innovation Labs) sought to establish Argentina as an outsourcing powerhouse. A founding partner of Riverwood Capital, one of the firms providing the investment, said that Globant is “becoming the leader provider of software product development services from Latin America and now a global reference in the space.” Globant was recently named a “Rising Star” in of the Global Outsourcing 100® list by the International Association of Outsourcing Professionals.

Endeavor selected Globant from over 7,000 companies in 2005, connecting Globant to its first round of funding, helping streamline the company’s HR strategy, and facilitating its first acquisition, Openware (another Endeavor firm). The entrepreneurs currently sit on Endeavor Argentina’s board and give their time as speakers, panelists, and mentors.

Find more on the financing on TechCrunch and on Globant’s site.

Top 10 rules of entrepreneurship (by Reid Hoffman, LinkedIn founder & Endeavor Global board member)

Last week at the South by Southwest conference, Reid Hoffman, founder of LinkedIn and a member of Endeavor’s Global Board of Directors, shared his top 10 rules for entrepreneurship. They are pasted below, and can also be found on the Greylock Partners blog.

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Rule #1: Look for disruptive change.

If you’re about to start on a new venture, ask yourself: What is becoming possible or necessary that wasn’t possible before? Is a new product or service able to take over an existing market or create a new market? When I co-founded LinkedIn the tech industry was in a deep depression. I looked at all the opportunities created by the Internet and had the idea that eventually everyone would need a professional profile online. The disruption was that people were able to directly reach the best candidates rather than hoping for responses from a listing in the paper or an ad on a Web site.

Rule #2: Aim big.

Regardless of whether a start-up is targeting a big idea or a small one, it will still require the same amount of blood, sweat and tears—so aim big! What is “big?” It is a new product or service that creates or dominates a significant market.

Rule #3: Build a network to magnify your company.

People tend to think that behind every great start-up is a single entrepreneur with a whiz-bang idea. The reality is great companies are built by a number of people with talent who are surrounded by amplifying networks. The most successful entrepreneurs bring in advisors, investors, collaborators and early customer relationships.

Rule #4: Plan for good luck and bad luck.

You should always assume you will have both good luck and bad luck with your new company. Good luck is not as simple as “it worked out.” Rather, this is when you discover a great opportunity and can quickly shift to go after it. Bad luck is what happens when your first idea doesn’t work. It doesn’t mean failure; it means you need to pursue plan B.

Rule #5: Maintain flexible persistence.

Very often entrepreneurs are given conflicting advice: “Be persistent! Stay committed to your vision!” or “Pivot on key data! Know when to change!” The challenge is to follow them both, but know which advice is most appropriate for which situation. You must know how to maintain flexible persistence.

Rule #6: Launch early enough that you are embarrassed by your first product release.

With my first startup, Socialnet.com, it took us nine months to launch the first product. That was a disastrous mistake. We wanted to have all the detailed functionality right away, including social controls to people could decide to connect or not with the people in their networks. We wanted everyone to “Ooh” and “Aaah” about how terrific the product was. We wasted a bunch of time and it put us months behind on more important problems that needed to be solved, such as how to get our product in the hands of millions of people. From that I learned, if you are not embarrassed by your first release, you’ve launched too late!

Rule #7: Aspire, but don’t drink your own Kool-Aid.

Target excellence, but be very careful about blind trust or belief in your theories. It is important to launch as early as you can in order to learn how your customers use your product or service. It is equally important to identify metrics that tell you if your aspirations and vision are on target. You should also get feedback from your network in order to iterate or pivot on the target, the product and/or the service. In other words, maintain your aspiration but always look for good perspective on how you are doing. It is very easy for creative innovators to get caught up in their own story rather than learning where they should be headed.

Rule #8: Having a great product is important but having great product distribution is more important.

I meet a lot of entrepreneurs who think the best product is the most important thing and that the best product should always win. What a lot of people fail to realize is that without great distribution, the product dies. How will you get your product in the hands of millions or hundreds of millions of people?

Rule #9: Pay close attention to culture and hires from the very beginning.

Your first hires set your culture, so make them good ones. These first people hire the next people and so on. The old wisdom was that you needed people with a decade more of experience in your start-up. The things a smart person learned a decade ago won’t help you now – you’re doing things that have never been done before, and the world and the competitive landscape are changing at hyper speeds. What you really need are people who can learn fast.

Rule #10: Rules of entrepreneurship are guidelines, not laws of nature.

Do not pay too much attention to rules set by other people. Entrepreneurs are inventors. They are successful when they make something work for the very first time. Sometimes in order to make something work, you will drive over the guardrail of one of these rules. Entrepreneurs sometimes just make new rules.

Ahmed Ezzat, Director of Endeavor Egypt, to run presidential campaign of Mohamed ElBaradei

Ahmed Ezzat, Managing Director of Endeavor Egypt, has announced he will run the presidential campaign of Dr. Mohamed ElBaradei — the first multi-candidate elections in the history of Egypt.

Says Ahmed: “We will run an ethical and professional campaign to be a model for all successive elections. We intend to measure up to standards set by the youth of Egypt from Jan 25th 2011 onwards.”

Currently, Endeavor Endeavor is being run by interim Managing Director Ahmed El-Bedawy.

Click here to read more about Endeavor Egypt during this period of national transition, including descriptions of current Endeavor Entrepreneurs.

Cairo-based Endeavor firm SySDSoft acquired by Intel

Today, it was announced that SySDSoft, the Egyptian 4-G wireless software company run by Endeavor Entrepreneur Khaled Ismail, was largely acquired by Intel through its stand-alone subsidiary, Intel Mobile Communications. For further details, check out the Intel press release and an article on TechCrunch. Also, check out the March 21 article from All Things Digital, “An Exit in Egypt,” which discusses the deal and its larger resonance in Egypt post-Mubarak. Khaled was selected in 2007 as the first Endeavor Entrepreneur in the Middle East.

As part of the deal, Intel plans to hire approximately 100 employees from SySDSoft, which designs cutting-edge products for the wireless broadband market–including various technologies such as WiMAX, Wi-Fi, Bluetooth, Wireless USB, and LTE.

“The acquisition of engineering and design talent from an Egypt-based company in the field of cutting-edge wireless and communication technology is the first of its kind for Intel in the Middle East,” said Arvind Sodhani, president, Intel Capital and executive vice president, Intel, in the company’s press release.

World Resources Institute to host investor forum on green entrepreneurs (NYC; April 6)

On April 6, NYU Stern School of Business and Citi Foundation in New York City will hold “New Ventures Global Investor Forum: Green Opportunities in Tomorrow’s Markets,” hosted by The World Resources Institute’s New Ventures program. While not an official Endeavor event, we are pleased to make our network aware of this opportunity to join leaders from the investment, business, and philanthropic communities in meeting innovative environmental entrepreneurs in Latin America and Asia. Click here to find out more.

Endeavor March 2011 newsletter

To view Endeavor’s March newsletter, a recap of all the top news stories from the previous month, please click here.

Reminder: To receive our monthly newsletters by email, please enter your email address in the sign-up box at the bottom of our homepage.

La Nación editorial highlights Endeavor Argentina

La Nación, one of Argentina’s leading newspapers, just published an editorial on the role of Endeavor Argentina and its selected High-Impact Entrepreneurs in fostering an entrepreneurial culture. Click here to read the original article (en español).

An English translation appears below:

The Culture of Entrepreneurship
La Nación, March 5, 2011

We have enthusiastically highlighted the activity of Argentine entrepreneurs and the organizations that support their work more than once in this newspaper. Neither the entrepreneurs nor those who support them get the recognition they deserve. Society ignores the invaluable contribution of those who are building an “entrepreneurial culture” in this country.

Entrepreneurship is a social phenomenon that continues to grow in Argentina. Endeavor has selected 98 Argentine entrepreneurs whose work has created over 45,000 jobs directly and indirectly. Last year, the organization attracted over 100,000 people to mass events. It has worked to build entrepreneurial ecosystems in six provinces. It is evident once again that all of the people inspired by Endeavor are what the country needs to grow and develop sustainably.

After twelve years of focusing on entrepreneurs, Endeavor has gained invaluable insights. The Endeavor Entrepreneurs have a strong sense of what still needs to be done if our country wishes to create more positive examples: We must improve the social perception of the role of entrepreneurship; We must improve access to capital, information and networks of high-impact entrepreneurs; We must spell out the role of the public and private sectors in supporting entrepreneurship. And we must make this a national priority.

The balance for Argentina has many positives. Argentina is among the 20 most entrepreneurial countries in the world. One in seven Argentines is involved in some type of entrepreneurial activity. And six out of ten young people say they would prefer to start their own business rather than work for someone else.

However, there are also less encouraging signs. Many new ventures are neither sustainable nor scalable businesses. Only a small number focus on developing clients abroad. And the general economic context is not favorable: Short-term economic thinking, continually changing and unfriendly legislation, insufficient government programs and weak protections for intellectual property.

The world is changing too fast for us to continue ignoring the huge potential of Argentine entrepreneurs, who are building the companies today that will make for a better country tomorrow. The social, human, intellectual and cultural capital of Argentina is huge as entities such as Endeavor prove each day. The private sector is making great strides, but the public sector needs to build bridges and essential networks so that this [entrepreneurial] culture begins to assert its positive presence in every corner of our community.

In the midst of change, Endeavor Egypt holds strong

A year ago this month, Endeavor Egypt held its official launch and inaugural International Selection Panel. Since then, the office, headed by Managing Director Ahmed Ezzat and supported by Board Chairman Naguib Sawiris (Chairman, Orascom Telecom Holding), has grown considerably and currently supports 10 High-Impact Entrepreneurs from seven companies.

Responding to the recent events, Ahmed Ezzat had this to say: “In the last few weeks, Egypt was all about entrepreneurial spirit. And it was certainly as high-impact as they come! Endeavor Entrepreneurs, mentors, board members and staff were in the streets participating in what they saw as the best thing that has ever happened to their country in so many years. The moment was historical and stakes were high, yet everyone thought it can only get better from here for them, their families and their business. When Naguib Sawiris was asked about the effect of the current events on his business and the country’s economy at large, he replied without hesitation – ‘Freedom is priceless.’”


L to R: Khaled Bichara (CEO, Orascom Telecom; Endeavor Egypt board member) and Ahmed Ezzat in Tahrir Square

In the midst of Egypt’s historic transformational period, Endeavor Egypt remains in active operation and is slowly getting back to business. The office will send two candidate companies to Endeavor’s International Selection Panel in Mexico City later this month. Additionally, the office is planning a roundtable discussion where network members will discuss the best ways to deal with the impact of the current events on their businesses, and adapting to the new business environment.

The following is a recap of the companies that Endeavor Egypt currently supports:

Azza Fahmy Jewelry (Fatma Ghaly)
Internationally recognized as the leading jewelry designer of the Arab world, Azza Fahmy Jewelry (AFJ) is a family business that has evolved into the first Egyptian designer brand.

Divine Worx (Omar Fathy)
Divine Worx has become the first home-grown, multi-branded restaurant chain in Egypt–with four unique brands and 18 restaurants in four major cities, which employ more than 350 Egyptians.

Diwan Bookstore (Hind Wassef, Nadia Wassef)
Sisters Hind and Nadia stand out as leaders of a new generation in Egypt, founding Diwan as a modern bookstore (with 10 locations across Cairo) that blends Western and Eastern literature and style.

El Matbakh (Hiba Jammal, Tarek Khaddaj)
Led by a dynamic husband-and-wife duo, El Matbakh is the first full-service lunch solutions company catering to the rapidly growing corporate market in Cairo.

Hindawi (Ahmed Hindawi)
Hindawi is one of the three largest Open Access publishers worldwide, having developed a portfolio of 250+ English-language scholarly journals.

SySDSoft (Khaled Ismail)
SySDSoft is an innovative Egyptian business that specializes in developing cutting-edge wireless communications technology.

Timeline (Ahmed Metwally, Mostafa Hafez)
Founded in 2005, Timeline develops video games that can be purchased and downloaded online instead of from a physical store. In 2009, Timeline released CellFactor, the first downloadable video game to use sophisticated 3D visuals and game play physics. Check out Ahmed’s editorial on Egypt’s entrepreneurial and gaming environment, as reprinted on our blog.

Fast Company highlights Endeavor’s role in Turkey

In a blog for Fast Company, “Entrepreneurship Provides Opportunities for Talented Young Turks,” Rob Salkowitz spotlights a growing entrepreneurial trend in Turkey. Salkowitz, a keynote speaker of the recent Endeavor Turkey Summit and author of Young World Rising: How Youth, Technology and Entrepreneurship are Changing the World from the Bottom Up (Wiley, 2010), identifies “young people, united and empowered by technology,” at the forefront of this entrepreneurial movement.

In the article, Salkowitz offers the following description:

“The Turkey office opened in 2006 and helps recruit, train and build entrepreneurial startups into high-impact businesses. They then showcase the success stories as role-models and mentors, fostering the development of an ecosystem that can sustain itself.

‘Two recent Endeavor entrepreneurs from Turkey are PI Works, provides automated optimization services for GSM operators, and Pozitron, which develops mobile apps for business, lifestyle and entertainment. Both companies (along with 20 others) qualified in Endeavor’s rigorous global certification process and are currently receiving intensive business development guidance from a network of seasoned experts.

‘Advocates hope that companies like this will create innovations that Turkey could not only peddle to the nearby wealthy markets of Europe, but also assume a leadership role among new, possibly more democratic, regimes in the Arab Middle East and Turkic Central Asia.”

Chilean entrepreneurs making an impact, razor clams and all

These days, the “Endeavor effect” is popping up where you may least suspect it — from fishermen in the Chilean Gulf of Arauco to executive chef Shaunna Sargent at Corsino in New York’s West Village.

Back in February of 2010, Endeavor started a relief fund to support Chileans in the aftermath of a devastating earthquake. With $900,000 in relief — half contributed by Endeavor Entrepreneurs — local fishermen in the village of Tubul were able to rebuild their lives by replacing 30 fishing boats that had been wiped away during the quake.

Javier Donoso, Endeavor Entrepreneur and founder of shellfish cannery GEOMAR, sources from Tubul and describes Endeavor’s work in the region as “incredible” and rendering a “huge positive impact.” In spite of the catastrophic event, these fishermen and Geomar have been making a bigger impact than ever before, their products getting recognition from some of the hottest names in fine dining and cooking today.

Specifically, this recent New York Times article describes the emergence of razor clams on the culinary scene. Chefs at some of New York’s most prestigious restaurants have started using these clams in new dishes, which have been well-received by customers.

Razor clams and other Geomar products can be found at Whole Foods, Central Market, and Balducci’s, and can also be found online at Amazon.com and Latienda.com.


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