Endeavor

Back in 2016, some media outlets labeled Endeavor Italy's goal to build a dynamic, flourishing entrepreneurial ecosystem that encourages business development and innovation as "ambitious". In 2017, the companies we support posted overall revenues of more than €60 million. They have nearly doubled the previous year's figure, with further growth recorded in the first half of 2018. To date, our entrepreneurs have raised €182 million from local and international investors, including Endeavor Catalyst. Their businesses employ over 660 people and about 80 job positions are currently available. Our network has given more than 550 hours of mentoring, while our global partners, such as Harvard University and EY, have provided leadership and management training and on-the-ground advisory services. In a span of a few months, and sometimes just a few days, our entrepreneurs have been able to create valuable relationships that have allowed them to explore and pursue new opportunities across the world. We are thrilled with these results that empower us to keep moving forward with our ambitious goal. They highlight the potential of the Italian entrepreneurial system that Endeavor aims to both unlock and enhance through its model. Launched for the first time in Argentina in 1998, Endeavor has helped pave the way for high-impact entrepreneurship around the globe. It provides critical resources and international connections to the best-in-class founders who have shown the ability to scale their business and boost wealth and job creation. Over the past two years, we have met and assessed around 1,000 Italian entrepreneurs, operating not only in innovative or hi-tech industries but also in both the niche and the traditional Made-in-Italy sectors. 17 of them eventually joined Endeavor's network by fully meeting our three evaluation criteria: they have proved their leadership potential and commitment to become role models by giving back to both our network and their local communities, they run companies that already generate a turnover of €1 million or more, and their businesses are at a key inflection point where Endeavor's support can spur the maximum impact. As I have had the opportunity to follow the progress of some of these founders since the inception of their idea to create a company to the achievement of their first milestones, I have seen first-hand how Endeavor is accelerating their paths to success. At Endeavor Italy, our priority is to expand our pool of high-potential entrepreneurs as much as possible and help them make a lasting positive impact on their communities. Nevertheless, we are well aware of the challenges the Italian entrepreneurial ecosystem is still currently facing. Despite the ongoing growth in local startup activity, there are substantial limitations in human capital and venture investments, and companies struggle to achieve sustainable development. To help the most promising businesses to fulfill our selection guidelines and enter our network, we have recently chosen the first six candidates for EndeavorX. It is a new program aimed at providing founders and their teams with a six-month mentorship placement, access to networking events and an introduction to Endeavor's international investment community. I believe today's Italian entrepreneurs have the very same traits that led business leaders of the past to strongly contribute to our country's wealth: creativity, initiative, and commitment to excellence. It is all about triggering a virtuous circle that capitalizes on these traits to drive innovation, high- quality jobs, and overall prosperity. Raffaele Mauro Managing Director, Endeavor Italy 4

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