Endeavor (nonprofit)
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Endeavor is a global non-profit organization that identifies and supports high-impact entrepreneurs in emerging markets to facilitate and encourage long-term sustainable growth. Founded in 1997 by Peter Kellner and Linda Rottenberg, current CEO, Endeavor is forging a new approach to private sector development in emerging markets. The Board of Directors is currently chaired by Edgar Bronfman, Jr.
Endeavor currently operates in Argentina, Brazil, Chile, Colombia, Mexico, South Africa, Turkey and Uruguay and plans to launch operations in India in 2007. The organization has launched an expansion plan with the goal of reaching 25 emerging markets throughout Asia, Africa and the Middle East in the next decade.
Endeavor’s model consists of five key components: 1) Enter- Endeavor targets emerging market countries transitioning from international aid to international investment and seeks out local partners to build Country Boards and launch local offices. 2) Select- Endeavor screens hundreds of entrepreneurs in each country to identify those with the highest impact potential and selects candidates with the most innovative ventures and promise as future leaders as Endeavor Entrepreneurs. 3) Support- Endeavor provides customized local and global services to its entrepreneurs to dramatically increase their chances of success. These services include mentoring, business plan and strategy development, media exposure, and introductions to obtain capital. 4) Promote- Endeavor partners with local media and universities to promote Endeavor Entrepreneurs as role models. 5) Influence- Endeavor works with governments and multilateral institutions to examine policy changes that would promote entrepreneurship and venture capital.
Over the last ten years, Endeavor Entrepreneurs have created 50,000 jobs that pay on average 10 times the national minimum wage. In 2005 alone, Endeavor Entrepreneurs generated US$1.375 billion in revenues and secured approximately US$900 million in financing through Endeavor’s network. Of 236 chosen high-impact Entrepreneurs, 96% of entrepreneurs’ companies are still operating in countries where most entrepreneurial ventures close with in 42 months. As former president of the World Bank and Endeavor Board of Directors member James Wolfensohn said, “Endeavor has played an instrumental role in promoting entrepreneurship as a tool for development. It is a model that should be replicated around the world.”
For more information about the organization see www.endeavor.org [1]
