Endeavor Helps Entrepreneurs Earn Php6.3-B, Create 1,700 Jobs in 2017
ENDEAVOR Philippines has been in the Philippines for only four years, but is already making a big impact among entrepreneurs and startups.
As it marked its fourth year in the country on December 5, the global non-profit organization providing entrepreneurs access to mentors and communities, talent and capital reported on its accomplishments in the country.Endeavor Philippines Managing Director Manny Ayala. (Image: Endeavor PH)
It is not easy becoming an Endeavor entrepreneur, but the select ones who made it received a push that helps them succeed.
Since 2015, the non-profit has been spearheading the Philippines’ “high-impact entrepreneurship movement” and accepting into its network 20 entrepreneurs representing 20 companies from various industries.
Endeavor provided the entrepreneurs support from global and local business mentors, access to professional services, and growth capital. Every company’s goal is to scale, which what happened to the 20 firms in the network after receiving the support.
As of 2017, the support translated from being members of the Endeavor network in the country enabled the entrepreneurs to create over 1,700 jobs, increased their annual revenues by Php3.6 billion for an accumulated over Php6.3 billion in revenues generated.
Manny Ayala, managing director of Endeavor Philippines, cited the non-profit’s mission to create an economic multiplier effect.
“Since we started in the Philippines in 2015, we have been steadfast in fulfilling our mission of creating an economic multiplier effect by accelerating the growth of high-impact entrepreneurs. We are also proud to have a diverse mix of companies in our network as we have a range of tech companies and those that follow traditional brick and mortar format.
“This is a testament to how even traditional businesses are able to prove their high-impact in today’s tech-driven society,” Ayala, in a statement reaching SDN — Scitech and Digital News, said.
He credited Endeavor’s success in cultivating the growth of the country’s entrepreneurial ecosystem to its abiding by a “pay it forward” philosophy.
Ayala emphasized the Endeavor recognizes the importance of sharing its knowledge and resources with the rest of the country’s businesses as a means to helping boost the growth of both the entrepreneurs and their businesses.
“Our members have been able to do this by mentoring, personally investing in companies, and connecting them to industry contacts in a bid to help them scale, and eventually, pay it forward as well,” he said.Tycoon Jaime Augusto M. Zobel de Ayala, chairman, Endeavor’s Board. (Endeavor PH).
The Endeavor entrepreneurs receive support from global and local business mentors from Fortune 500 consulting firms, access to world-class professional and customized services, and growth capital.
And paying it forward, the entrepreneurs in the Endeavor network did.
They have invested in and mentored more than 50 local companies, and have takes seats at several advisory boards of the said businesses. The entrepreneurs have also been sharing their expertise as thought leaders in their respective industries by speaking in local and international conferences.
As Endeavor continues its journey of helping in the Philippines, entrepreneurs can expect to join its network should they pass the selection process as it fulfills its mission.
A “Who’s Who” in Philippine business are among the board members of Endeavor that include Chairman Jaime Augusto M. Zobel de Ayala, Vice Chairman Jasen T. Ko, Cezar P. Consing, Anton T. Huang, Eugenio L. Lopez III, Roberto L. Panlilio, Edgar “Injap” Sia II, Wilfred Steven Uytengsu, and Julio Sy, Jr. (Endeavor PH)