Rottenberg Linda
Organization: Endeavor Global
Year Founded: 1997
Country: USA
Website: www.endeavor.org
Geographic Area of Impact: Argentina,Brazil,Chile,Colombia,Egypt,India,Jordan,Mexico,South Africa,Turkey,United States,Uruguay.
Model: Hybrid Non-Profit
Focus: Enterprise Development.
In no way affiliated with "The Endeavour Group" based in Washington, DC. ----------------------------------------------------------------------------------------------------- Schwab Fellow of the World Economic Forum Audio Interview The Innovation Endeavor was founded in 1997 to help high-potential entrepreneurs to flourish in emerging economies where they are often overlooked and face significant barriers to success. These are entrepreneurs who are running businesses that are highly innovative and growing very quickly. The entrepreneurs running these businesses encounter few role models, a lack of trust, a limited pool of management talent, an inability to access smart capital, and insufficient contacts. Endeavor provides High-Impact Entrepreneurs with tools they need to scale: mentors, networks, new skills, access to talent, and inspiration. Engaging the private-sector in mentoring these entrepreneurs in emerging markets is a pioneering aspect of Endeavor’s model. Typically, a few families hold a majority of the wealth and connections in emerging economies, resulting in concentrated networks closed off to new entrepreneurs. Endeavor dismantles this tradition by building a community of trust and eventually making unheralded entrepreneurs welcome in established business circles. In the process, Endeavor transforms cultural perceptions of private-sector leaders by turning distrusted members of the business establishment into valued mentors. Background For emerging economies transitioning from international aid to international investment, there is a gap in the development sector. In these countries, thousands of ambitious and visionary entrepreneurs have the desire and ability to run innovative businesses that create jobs, wealth, and economic security for themselves and for entire communities. But this ambition is often left unfulfilled. There are too many factors lacking – a lack of mentorship, a lack of self-made role models, a lack of new markets, and a lack of smart capital – which the global community must proactively address. If not, the same old story of economies that nearly made it will continue to persist. This is where Endeavor steps in. Endeavor addresses these lacking factors by applying the missing ingredients – role models, mentors and the audacity to “think big” – to High-Impact Entrepreneurs. Strategy Endeavor’s model is designed to achieve three objectives: 1) to unleash untapped, high-potential entrepreneurial talent and stimulate new venture creation in a country; 2) to help create a venture-friendly environment where entrepreneurs can access the knowledge, networks, and capital they need to succeed; 3) to widen economic participation and opportunity by elevating Endeavor Entrepreneurs to become national role models, inspiring emerging market citizens, particularly youth, to take risks and turn their ideas into reality. Ultimately, Endeavor aims to transform the social and economic landscape of emerging markets through the power of entrepreneurship. The 330 certified Endeavor Entrepreneurs (screened from over 17,000 candidates as of December 2007) have generated nearly 90,000 new jobs and over US$ 2.51 billion dollars in wages and revenues, and told their stories to tens of thousands in classrooms and conferences. 95% of Endeavor companies are still in operation. Endeavor also has promoted high-impact entrepreneurs as role models in their countries: 173 have been taught as business cases studies and nearly all have been featured in local and international media. Success breeds confidence and Endeavor Entrepreneurs are increasingly serial entrepreneurs: over 300 ventures – unrelated to their “Endeavor company” – have been launched with Endeavor Entrepreneurs serving as founders, board members, and investors. Seventy five Endeavor Entrepreneurs have inspired a family member to start a business, and 96 have had employees leave their business to start their own company. Endeavor will launch offices in Peru and the Philippines in 2009 and plans to take its model to 25 emerging markets by 2015. The Entrepreneur When Linda Rottenberg first spoke of her idea, everyone told her she was crazy. “There are no entrepreneurs in emerging markets,” they proclaimed. She faced an additional hurdle: there were no philanthropists either. Determined to shatter these myths, Rottenberg stalked potential donors at the gym and outside restrooms. She logged over a million airline miles and ultimately convinced top business leaders in Latin America and South Africa not only to donate more than US$10 million, but also to dedicate their time and passion to the organization and its entrepreneurs. Today, she is recognized both for empowering high-impact entrepreneurs worldwide and for inspiring a new generation of philanthropists. "Two things drive my work at Endeavor," says Linda, "a passion for helping young people make their dreams come true, and the challenge of creating a new kind of non-profit, one that borrows the best practices from the private sector to achieve development goals in the most high-impact and sustainable way possible."
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