Endeavor

Eight years ago, Endeavor launched in Lebanon, powered with the determination to provide support to high-impact entrepreneurs with scale-up companies. High-impact entrepreneurs are those who can build and grow successful businesses, generate wealth and create jobs. However, their roles extend far beyond their own businesses. To fuel the ecosystem, they too must give back to the next generation of entrepreneurs by mentoring them, investing in them and inspiring them. At Endeavor, we believe that these are the entrepreneurs who transform local economies and local ecosystems. In Lebanon, unemployment has been growing in recent decades and has reached 25% according to the Ministry of Labor*. Hence, job creation is crucial. SMEs in Lebanon make up the majority of corporate profiles, employing nearly half of the workforce. In this regard, our focus at Endeavor is on supporting the fastest-growing SMEs in the country. These companies that we call scale-ups, generate on average 1.6x more revenues and more jobs than other SMEs**. We aspire to support Endeavor Entrepreneurs developing these model companies in order to inspire others. In spite of the high unemployment rate and a challenging economic climate in the country, Endeavor Lebanon Entrepreneurs have still managed to grow and generate to date more than $265M in revenues, growing on average by 180%. They created employment opportunities for more than 2,000 people in 2018 and have created more than 580 jobs since they were selected. Although most Endeavor Lebanon Entrepreneurs have expanded within the region and globally, they have kept their base in Lebanon, therefore strengthening the country's local economy through job creation. The majority of Endeavor Entrepreneurs are fueled by the same spirit of purpose - giving back and inspiring the next generation of high-impact entrepreneurs. They give back to the ecosystem by investing, mentoring, and employing, which creates stronger bonds in the community and allows the impact to multiply as a result. We use the Multiplier Effect to measure the impact that founders have had on other companies in the Lebanese entrepreneurial ecosystem; a map showcasing the growing tech ecosystem in Lebanon, in which Endeavor Lebanon companies Anghami and Diwanee were amongst the most influential. One of the stories in 2018 that created a wave of inspiration for regional entrepreneurs was the merger between Endeavor Lebanon company Diwanee and Endeavor Saudi company Uturn, to form a leading media player in the region. The new entity has already raised $20M of investment, will employ 310 people across four offices in the region, and will aggregate 65 million users across its social networks. More successful stories like this could inspire others to create, grow and impact their community while reversing brain drain and bridging gaps in the ecosystem. We invite you to embark on the Endeavor Lebanon journey, through the pages of this Impact Report, as we continue to search, select and support high-impact entrepreneurs. Fadi Majdalani Chairman Christina Chehade Managing Director *According to a draft report by the Lebanese Republic Economic and Social Council, Unemployment in Lebanon Findings and Recommendations, March 2019. **According to a report by Strategy&, Part of the PwC network, and Endeavor, Scaling-up MENA SMEs, May 2018. Dear Endeavor friends and supporters

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