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Endeavor is a global non-profit organization pioneering a new model for international economic development by stimulating and supporting entrepreneurship in emerging markets. Endeavor has affiliates in Argentina, Brazil, Chile, Colombia, Egypt, India, Jordan, Mexico, South Africa, Turkey, Uruguay and its Global Headquarters is in New York City.
If your are an entrepreneur with an innovative, high growth company and you have a long term commitment to the creating jobs in South Africa, Endeavor can help you accelerate the growth of your business by offering you an array of customized services:
• A customized 18-month work plan based on your company's analysis from the world's top business leaders.
• Mentoring from handpicked, premiere South African and international business leaders.
• Recruited MBA students from the world's top business schools for three months engagement with you and your company.
• Workshops and conferences with respected academics, top executives and entrepreneurs.
• Access to closed business networks and to the most current and advanced business research tools.
• Networking opportunities with other Endeavor Entrepreneurs from both Endeavor South Africa and Endeavor's five Latin American affiliates.
• Investing and Networking Road Shows with the high-level investors in the Endeavor Global and Endeavor South Africa network.
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While most entrepreneur candidates lead companies with at least R3 million in revenues, Endeavor seeks entrepreneurs at varying stages so long as they are at a “tipping point” at which Endeavor can help the entrepreneur reach new levels.
Endeavor looks at the following criteria:
Entrepreneurial Initiative: Candidates must possess the energy, passion, drive and persistence to develop their businesses into successful companies. They should have a track record of entrepreneurship and demonstrated execution abilities required to mobilize the necessary resources.
Role Model Potential: Candidates should possess the strong personal presence, leadership qualities and “story” to inspire others. They should also demonstrate commitment to mentoring and knowledge sharing.
Development Impact: Candidates’ businesses should have high growth potential and should be likely to create substantial economic value through job creation, profitable enterprises, or, in relevant cases, shareholder value. Typically, Endeavor looks at entrepreneurs with companies in the range of $500,000 to $10m in sales at point of selection. With any “concept company” or early stage company below this range, the business must show high potential for growth.
Business Innovation: Candidates should be building businesses with innovative products/services that have a real potential to change/improve the way the industry operates.
Ethical Fiber: Candidates should inspire instinctive trust. Reference checks must confirm their unquestionable integrity and respect for rule of law. Candidates also should demonstrate commitment to giving back to the community.
Fit with Endeavor: Endeavor must see a clear opportunity to increase candidates’ chances for success through targeted advice on strategy, organization or resource development. Candidates must be willing to listen, learn and accept support from Endeavor. They also must demonstrate a willingness to contribute to the sustainability of the local Endeavor entity through personal donations of time and, eventually, financial resources.
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You first need to be nominated as a candidate by a business leader or by an institution that is familiar with you and your business. We also consider self-nominations from those who feel that they meet Endeavor’s selection criteria. Once you are nominated, you will participate in the following 5 stages selection process:
[1] Initial screening of all the nominated candidates.
[2] The Managing Director and Search and Selection Team at Endeavor interview about 40-60 nominees and pass 20-35 to the next round.
[3] Endeavor's VentureCorps Members, a network of senior business leaders in South Africa, will screen the remaining candidates and pass about 18-20 to the final review.
[4] The Endeavor Global team conducts Final Round Interview of the remaining candidates and passes about 10-12 to the next round.
[5] Candidates in this round spend a two-day weekend presenting to a panel of top global and South African business leaders. The panel then unanimously selects the Endeavor Entrepreneurs.
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Endeavor is not a fund. We do not provide financial assistance to our entrepreneurs. However, we provide them with the access to a network of institutions and business people through which they can access finance.
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The Endeavor Entrepreneurship program is offered free of charge to our entrepreneurs. Our aim, ultimately, is that these entrepreneurs will advance the culture of entrepreneurship in South Africa by acting as role models and mentors for other aspiring entrepreneurs.
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The selection process is structured in such a way that it adds value to all the entrepreneurs. The panelists - made of business leaders and experts- make an in-depth analysis of each enterprise and individual feedbacks are later given to entrepreneurs. Therefore, entrepreneurs who end up not being selected still gain a lot of value out of the selection process. In addition, they are also encouraged to review their businesses in line with the recommendations given to them and are then welcome to apply again.
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After completion of the 18-month program, entrepreneurs continue to be part of the Endeavor Entrepreneurs Global Network from which they gain incredible value. They also give back to the community by advancing the cause of entrepreneurship and may also act as mentors for the newly selected entrepreneurs.
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Yes, our R3 million benchmark is not hard set; we look for innovative businesses with high growth potential. This may include enterprises that fall outside this benchmark.
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In order to support and stimulate entrepreneurship, Endeavor relies on donors and a network of business leaders. We welcome you to join our network of Board Members or VentureCorps who are made of various industry experts, leading executive, academics and entrepreneurs. VentureCorps screen, analyze and provide mentoring to our entrepreneurs. They are only matched with entrepreneurs with whom they can provide the most value added.
VentureCorps and Board Members also gain immense value from their association with Endeavor by having access to a global network of business leaders, potential clients, as well as the satisfaction of contributing to the development of South Africa. For more information on our VentureCorps, please visit our webpage: VentureCorps Page or send us an email at info@endeavor.co.za.
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