After announcing free WiFi hotspots in the form of Google Station in South Africa just three months ago, Google on Monday revealed that it…
“Our results show a decade of phenomenal financial and job growth with approximately 21 000 jobs created by Endeavor South Africa companies since 2004,” said the MD of Endeavor SA, Catherine Townshend, in a press release to Ventureburn.
“This is an indicator of a community that is growing and gaining momentum, and we are excited to see Endeavor South Africa fast becoming an enabler of positive change,” she continued.
In 2007, it launched an accelerator aimed at black-owned startups which demonstrated an ability to scale.
“We believe that by searching for and strategically supporting a select group of high-impact entrepreneurs who are transforming their communities, their industries and their countries, will drive the positive momentum that is so desperately needed,” said Townshend.
Endeavor supports 1403 entrepreneurs from 875 companies globally
According to Endeavor’s non-profit research arm, their entrepreneurs are four times more likely to inspire others as well as eight times more likely to serve as mentors and to invest in other entrepreneurs.
“In South Africa, where both venture capital and high-level mentorship have been notoriously tough to access for emerging business leaders, organisations such as Endeavor can have an immediate and incredibly transformative impact,” concluded Townshend.
The current Endeavor portfolio reflects the growth the initiative has undergone. According to the company, its SA portfolio currently consists of approximately 200 mentors and an active network of 34 entrepreneurs from 23 companies.
The portfolio also consists of six accelerator entrepreneurs from six companies and an alumni network of 40 entrepreneurs from 31 companies. They also feature 34 accelerator entrepreneurs from 26 companies.
“By selecting businesses that have high growth potential and local impact, Endeavor essentially builds upon a robust global network that provides inspiration, invaluable connections to experienced local and global mentors, opportunities to grow into global markets through the global Endeavor network and eventually, access to capital,” said Townshend.