Endeavor launches in new countries with our “pull” model led by the local private sector. Endeavor engages local business leaders to form a Board of Directors that will spearhead a country launch. They not only provide financial, strategic and networking support, but their buy-in is necessary to greenlight Endeavor’s entry.
Endeavor currently operates in Latin America, South Africa, and the Middle East, with plans to be present in 20 emerging market countries by 2015. We are currently scoping new countries in Southeast Asia, the Middle East, and Africa. Additionally, existing Endeavor affiliates have begun to launch regional offices to source and service entrepreneurs beyond the principle business centers. Endeavor’s launch process typically takes 12-18 months. Initial "scoping trips" allow Endeavor to assess a country's fit with our launch criteria:
Endeavor looks for strong macroeconomic conditions that enable entrepreneurship (e.g. stable economic growth, low corruption levels). While we operate in countries that possess structural barriers to entrepreneurship, we look for indicators that with Endeavor’s help, these barriers can be diminished (e.g., early stages of inbound foreign investment).
Potential for Entrepreneurial Ecosystem
Endeavor’s model is about High-Impact Entrepreneurship. We look for markets that have a critical mass of innovative entrepreneurs who need a "jump start" to catalyze an environment favorable to new venture creation and the formation of mature capital markets.
Pull of the Private Sector
Endeavor requires the support of 5-10 top local business leaders to fund local operations, form a board of directors, and mentor Endeavor Entrepreneurs.
In our attempts to foster entrepreneurship wherever we operate, Endeavor will not duplicate efforts in countries that already offer significant support to high-impact ventures. Rather we look for a vibrant local business community that has the resources, but not the framework, to provide these support services.