Previously we have discussed the global race to attract top entrepreneurial talent and the role emerging markets are playing, and will continue to play, in innovation and start-up formation. There are many factors necessary for a robust start-up ecosystem, but one of the most important is strong mentorship, particularly for entrepreneurs from developing countries without a long track record of successful exits.
Endeavor is one of the leading institutions promoting start-up mentorship on a global scale. Founded in 1997, Endeavor is a global nonprofit that identifies and supports entrepreneurs with the greatest potential for impact in emerging markets. It focuses on international economic development led by the entrepreneurial private sector (“High-Impact Entrepreneurship” as Endeavor likes to call it). No financial support is provided, but plenty of mentorship, introductions and brainstorming are.
The model has gained currency in many circles and garnered considerable press. The Wall Street Journal recently featured an article on Endeavor and the impact it is having around the world .
In 13 years, Endeavor has screened and provided feedback to 23,000+ candidates and selected 539 entrepreneurs from 349 companies. Goodwin Procter has begun working with a growing number of these companies in certain markets, particularly Latin America, and we hope to work with more. We expect many Endeavor-backed companies to be leading lights on the global entrepreneurial scene in years to come.
More information about Endeavor is available on its website.
This post on Start-up Issues was authored by Daniel Green.