PART TWO: FROM CHARMING TO IMPORTANT
Lonwabo and Luvuyo Rani of Silulo
Technology, have opened one-stop computer training and resource centers in the underserved townships of the Western Cape. Most impor- tantly, Endeavor's South African Entrepreneurs have created high-value jobs in a country struggling with unemployment: An Endeavor Insight study found that Endeavor South Africa Entrepreneurs treat employees well above local standards, paying more than 2x the national average income. Compared to the average child in South Africa, their employees' children are 7x more likely to have health coverage. Having successfully established its first office outside Latin America, Endeavor continued to pursue global expansion. In 2006, the organiza- tion focused on Turkey — the world's 17th largest economy — as a promising next step. With more than 50% of its population below the age of 30, Turkey seemed a potential hotbed of innovation and entrepreneurship. Indeed, in Turkey Endeavor has selected a number of creative high-impact entrepreneurs, including Nevzat Aydın, Cem Nufusi, and Melih Ödemis of Yemeksepeti.com, a food delivery platform akin to SeamlessWeb; and Bedriye Hülya, who built b-Fit, a franchised chain of 212 women-only gyms. When Endeavor
QUOTED
"Ernst & Young proudly shares Endeavor's belief that by supporting high-impact entrepreneurs, we can change the world."
James S. Turley Ernst & Young Global Chairman & Chief Executive Officer
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selected online flower and gift site Çiçeksepeti in 2011, a connection made with panelist Diego Piacentini, svp International of Amazon.com, led to an investment by Amazon in the Turkish site. These entrepreneurs are growing by leaps and bounds: In 2011, the average Compounded Annual Growth Rate of the Endeavor Turkey portfolio was over 50%.
PARTNERSHIP SPOTLIGHT ENDEAVOR +
As part of an extensive relationship with Endeavor, Ernst & Young has sent 78 mid-career executives on sabbatical assignments to work as E&Y Fellows and Intrapreneurs alongside Endeavor Entrepreneurs throughout Latin America and the Middle East.
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