Endeavor

2 Impact Report 2014-2015 Endeavor's Model can help solving these obstacles which many entrepreneurs face throughout the journey of establishing their businesses. The model starts by launching an Endeavor office in developing and developed countries that is managed by local businessmen/women, which independently oversee Endeavor's work and progress. We search and select High-Impact entrepreneurs, and continue to support them, expand their influence, and monitor their giveback to the community. The six-to-nine-months selection process is hard and rigorous; it is not the quantity but the quality that we look for. Today in Endeavor KSA, we have selected 12 entrepreneurs representing 9 companies out of +100 screened. We connect these ambitious entrepreneurs to the best local, regional and global business leaders. Endeavor has over 3,000 mentors around the world; ranging from Reid Hoffman, founder of LinkedIn, to Senior VPs in Amazon, to investors from Silicon Valley, and various business leaders locally and globally. These leaders support the entrepreneurs in making better decisions to grow their business. Endeavor KSA also built partnerships with the Ministry of Commerce & Industry, Oqal Angel Investors Group, Bain & Company, and Ernest & Young. Although Endeavor launched in Saudi Arabia in mid 2012, its impact on the entrepreneurs has been noteworthy and successful. Throughout these years we provided +250 hours of mentorship by our mentors' and business network; +30 Saudi companies benefitted from these mentorships hours. We have selected 9 out of these companies from three different cities; Riyadh, Jeddah, and Dammam. Most importantly, the income of these 9 companies currently contributes to %0.02 of the Kingdom's Gross Domestic Product (GDP). In a short time, these companies created +460 jobs after joining Endeavor KSA, with a total of 1477 jobs. It was a prosperous start for Endeavor KSA and its entrepreneurs, and with the support of board members, mentors and entrepreneurs, we will continue to achieve greater success for many years to come, and creating more jobs in the Kingdom, and inspiring the young generation with the amazing success stories of our local High-Impact entrepreneurs. Rakan Al Eidi Managing Director Endeavor KSA As the Kingdom is shifting from its oil based economy toward a more of knowledge base economy, Entrepreneurship and Innovation is becoming the new main economic growth engine of both the public and private sectors. With the human capital that we have in the Kingdom, where %70 of the nation is youth, a market considered as the biggest in the region, and all the financial resources that are available to be deployed, the need for entrepreneurship and innovation to prosper has never been greater. It is becoming a key solution for economic growth and the job creation. In 2015, we have witnessed some great changes in the public sector to further enhance that, started with the formation of the Counsel of Economic Affairs and Development, and more recently the formation of the SME Authority. Yet the real question is; Can a small number of entrepreneurs change the world and drive the economy? The answer is yes, and it is backed up by the global experience of Endeavor since 1997 in supporting High-Impact entrepreneurs around the world. In Brazil, Mexico, South Africa, Jordan, Spain, Indonesia and Malaysia, we are located in more than 24 countries around the world, with the head quarter in New York City, and affiliate offices in San Francisco and Singapore. Who are High-Impact entrepreneurs? They are individuals who established innovative companies that are able to grow exponentially, generate revenue, and create jobs. They reinvest their knowledge, financial and non-financial resources in new breeds of young entrepreneurs, enabling themselves to expand their impact in the economy and society, and become local role-models for the new generations. However, these entrepreneurs encounter a few main obstacles; fear of failure, lack of experience, lack of local role models, limited management experience, lack of mentorship, low confidence, and difficulty in reaching smart capital to invest in their companies. Why entrepreneurship?

• Cover