As Endeavor commits to scaling its 'venture catalyst' model globally it seeks ten world-class global business partners to engage in the power of high-impact entrepreneurship by making a US.5 million commitment per partner over three years. Together, Endeavor and its corporate partners will:
- Take entrepreneurship beyond subsistence to jumpstart private-sector development in emerging-market countries straight-jacketed by aid.
- Support local entrepreneurs to create thousands of jobs and accelerate the spread of innovations that will improve the quality of life in the developing world.
- Train the next generation of emerging-market business leaders through hands-on mentoring programs.
- Replace doubt in emerging-market economies with confidence by removing the obstacles preventing high-growth entrepreneurs from reaching their potential.
In turn, Endeavor commits to facilitating a highly productive partnership that leverages its partners' time, skills and resources for maximum impact by:
- Matching appropriate staff as mentors to Endeavor candidates and selected entrepreneurs.
- Organizing workshops where senior managers can assist with entrepreneurs' strategic growth plans or share best practices in a particular area of expertise.
- Providing staff with an opportunity to use business skills for positive social impact.
- Leveraging each sponsors' unique skills through custom tailored initiatives, e.g. through fellowships or technology transfer programs.
- Expanding a company's network base through Endeavor's world-wide network of entrepreneurs, mentors and boards of directors, who gather at an annual Entrepreneurs' Summit.
Real growth in emerging and developing countries ultimately will come from robust private sectors rather than aid or donations. Microfinance recipients and small business owners are at square one: starting a business to gain control of their own income. Entrepreneurs at the next level focus on building companies that expand employment, create revenue and attract investment capital. Few, however, get beyond the ideas stage to jumpstart a vital economic engine of growth.
Endeavor focuses exclusively on emerging-market entrepreneurs with high-impact potential - accelerating their transition from entrepreneur dreamers to recognized business leaders and key drivers of sustainable economic development.
To date, 198 Endeavor Entrepreneurs from 140 companies have been certified through Endeavor's rigorous Search & Selection process, screened from a pool of 14,044 applicants. Endeavor Entrepreneurs have created 38,418 high-value jobs paying on average ten times the national minimum wage, generated US.375 billion in revenues in 2005 alone, and with Endeavor's support secured approximately US.3 million in financing.
Endeavor currently has offices in Argentina, Brazil, Chile, Colombia, Mexico, South Africa, Turkey and Uruguay where it identifies and supports visionary entrepreneurs with high-growth potential. Its proven 'venture catalyst' model strengthens entrepreneurial culture, stimulates local investment in risk financing, and showcases role models - fostering growth through entrepreneurial activity. Endeavor plans to replicate its success with high-impact entrepreneurs in other emerging markets in Asia, Africa and the Middle East. Through this corporate partnership commitment, Endeavor aims to unleash the creation of jobs and opportunity that will strengthen the social and economic fabric of emerging and developing countries.
SEEKING: Endeavor is eager to identify leading US-based venture investors to pioneer this initiative. The investors' will:
- Mentor Endeavor Entrepreneurs on the general process of raising equity capital, through a series of structured conference calls (2 per class).
- Interact, exchange ideas, and build relationships with local (emerging market) investors through these conference calls and other events.
- Support the development of the program with investors' feedback, advice, and financial support.
OFFERING: implementing partners, best practice information, media/marketing assistance.