The global non-profit Endeavor is planning to expand its involvement in Asia. At its recently concluded 57th International Selection Panel (ISP) in Singapore last month, it selected 21 entrepreneurs into the Endeavor network. Endeavor’s aim is to transform the economies of emerging markets by identifying and supporting high-impact entrepreneurs.
The chosen entrepreneurs from Brazil, Egypt, Greece, South Africa, Indonesia, Malaysia, Mexico, Turkey and UAE represent 15 companies. Endeavor now supports 1,051 entrepreneurs from 666 companies across the 22 markets where it operates.
With support from Barclays and EY, the ISP is the conclusion of the rigorous multi-step Endeavor selection process. In Singapore, panelists from 10 countries interviewed entrepreneur candidates about their businesses and potential for high-impact growth before making their selections.This ISP in Singapore is the first panel in the region since the launch of Endeavor in the Philippines earlier this year, which marked the organization’s third affiliate in Southeast Asia. With support from the J.P. Morgan Foundation, Endeavor is currently considering expanding its presence in the city to better select and support the region’s high-growth entrepreneurs.
“As we continue to grow our presence in Asia, bringing the Endeavor network to Singapore signifies the importance of the city as a global center of entrepreneurship and innovation,” Endeavor co-founder and CEO Linda Rottenberg noted in a press release. “We hope to continue finding the region’s most high-impact, high-growth businesses and empowering them to build ecosystems of entrepreneurship that have the power to move economies and create jobs.”
Impressive impact Since 1997, Endeavor Entrepreneurs have created nearly 400,000 jobs, generated and built sustainable growth models in their home countries, transformed local economies, and become role models for future generations of leaders. Endeavor-supported companies employ on average 367 people – 80% of these in high-quality jobs that were created after the entrepreneurs were selected into the Endeavor network. In 2013 Endeavor Entrepreneurs generated $6.8bn in revenues. In the first two years after starting to work with Endeavour, companies experienced an average of 68% growth rate.
To date, Endeavor has screened more than 40,000 candidate entrepreneurs and currently serves more than 1,000 Endeavor Entrepreneurs (or "High-Impact Entrepreneurs") representing more than 600 companies.
Endeavor will host five more International Selection Panels in 2015. These will be held in Santiago, Chile; Amman, Jordan; San Francisco Bay Area, CA; Marrakech, Morocco; and Mexico City, Mexico.
About Endeavor Established in 1997, Endeavor is the global non-profit that pioneered the concept of High-Impact Entrepreneurship in growth markets. Headquartered in New York City, with 22 offices across Latin America, the Middle East, Africa, Europe, and South East Asia, the organization transforms economies by identifying and supporting high-potential (or "high-impact") entrepreneurs.