About Endeavor
Founded in 1997, Endeavor fosters economic growth in countries worldwide by selecting, mentoring, and accelerating high-impact entrepreneurs. Endeavor’s entrepreneurs lead fast-growing businesses that generate jobs in Latin America, the Middle East, Asia, Africa, Europe, and North America. Endeavor provides its entrepreneurs with a network of seasoned business leaders who provide key ingredients to entrepreneurial success: mentorship, networks, strategic advice, and inspiration. Over the past 17 years, Endeavor Entrepreneurs have created more than 400,000 high quality jobs, directly reaching more than two million people across the world. Endeavor has achieved tangible results, with individuals working for Endeavor companies doubling their income over baseline or previous jobs, and Endeavor companies growing revenue 2.4 times faster than comparable firms over three years.
Current Operations of Endeavor
Endeavor is dedicated to high-impact entrepreneurship. Its main operations focus on identifying and supporting the continued growth of a select group of entrepreneurs, creating jobs, and adding revenues to foster entrepreneurship in those societies. Endeavor currently works in 21 countries across the world. In recent years, Endeavor’s operations have expanded into several countries; Endeavor launched in Indonesia, Saudi Arabia, and Greece in 2012, Miami (US), Malaysia, and Morocco in 2013, and Peru and Spain in 2014.In 2011, Endeavor launched Endeavor Catalyst, a passive co-investment pool that uses donated funds to support Endeavor Entrepreneurs’ professional funding rounds and to provide funding for Endeavor’s growth and financial sustainability. Endeavor Catalyst has raised approximately $15 million to date and has made its first nine investments.
Approach and Distinguishing Features
Endeavor is an organization of, by, and for entrepreneurs. Endeavor believes that entrepreneurship is vital to economic growth and job creation, and recognizes the reality that entrepreneurs in growth markets face obstacles that inhibit successful scaling of businesses, such as limited management expertise, lack of role models, contacts, investors, etc. To this end, Endeavor provides immense support to rising entrepreneurs and acts as a springboard to catalyze their success with business establishment and job creation. Over 80% of Endeavor’s entrepreneurs give back to their local affiliates and commit to mentoring the next generation of entrepreneurs.
Endeavor’s entrepreneurs lead fast-growing, typically for-profit businesses that generate jobs and create revenues in growth markets. Endeavor looks for businesses with the potential to scale and become world-class ventures and industry leaders. Endeavor is distinct from many other organizations in its focus on high-growth, high-impact, for-profit companies that can scale. Academic research demonstrates that high-impact entrepreneurs generate a disproportionate number of jobs over other entrepreneurs.
2015 Kravis Prize
‘The hard work of defeating poverty’: Fazle Abed on BRAC’s mission
Central European University has awarded the 18th Open Society Prize to Sir Fazle Hasan Abed, founder and chairperson of BRAC, recipient of the Kravis Prize in 2007, and the affiliated BRAC University, at its commencement ceremony in June. The Open Society Prize, which is given “to an outstanding individual whose achievements have contributed substantially to the creation of an open society,” has been awarded at past ceremonies to a multitude of prominent world figures, including: Sir Karl Popper, author of The Open Society and its Enemies; Vaclav Havel, playwright and former president of the Czech Republic; Richard Holbrooke, the late senior U.S. diplomat; and Kofi Annan, former secretary-general of the United Nations. During his acceptance speech, Abed described his early experiences with BRAC and reflected on the lessons that he has learned along the way with the organization: “After my country’s independence, I began working to try to help the poor of Bangladesh. My early colleagues and I initially thought that BRAC would be a short-term relief effort. But the realities of entrenched poverty soon changed our minds. I have learned much along the way. Perhaps the most important thing I learned was that when you create the right conditions, poor people will do the hard work of defeating poverty themselves.” RELATED: Landesa offers perspectives on China’s changing...
Landesa offers perspectives on China’s changing face
What is happening in China? When China unveiled its plan to urbanize over 250 million rural Chinese over the next dozen years, prestigious news outlets turned to Landesa, whose founder Roy Prosterman was 2009 Kravis Prize winner, for its expertise on land-rights issues. In “China’s Great Uprooting,” an article that is part of a series by The New York Times on that nation’s changing identity, Gao Yu, the China country director for Landesa, offered commentary to the news outlet on some major concerns regarding China’s program. Gao first spoke on the impulse to modernize, noting how “[t]here’s this feeling that we have to modernize, we have to urbanize and this is our national-development strategy.” The speed of the development campaign is also a cause for concern as Gao Yu compares it, in the article, to the disastrous Maoist campaign in the 1950s: “It’s almost like another Great Leap Forward.” That said, the new policy could also prevent local governments from forcibly taking over rural land. According to Bloomberg Businessweek, local officials provide limited compensation to the farmers, and then sell long-term leases to factory owners and real estate developers. Li Ping, senior attorney at the Beijing office of Landesa, spoke on the motivations of local governments in an interview with Bloomberg: “Local governments have an incentive to push this distorted urbanization, to grab all that profit.” The modernization policy would increase the involvement of the federal government, which would remove and organize the incentives of the local government urbanization plans. As China’s ambitious agenda begins to be implemented, it is unclear whether it will be successful or damaging to that country’s future but...