Endeavor launches in Ukraine to provide global support platform for Ukrainian entrepreneurs
www.pravda.com.ua
Thu, 31 Oct 2024 11:50:06 +0200
Endeavor, a global community of highimpact entrepreneurs, has announced its expansion into Ukraine.
The goal is to provide Ukrainian businesses with access to Endeavors network and capital.
Endeavor has more than 45 offices across the globe. The opening of its office in Ukraine is a clear signal of confidence in the potential of the Ukrainian startup ecosystem, says Linda Rottenberg, Endeavor cofounder and CEO.
We are excited to launch Endeavor Ukraine, empowering local entrepreneurs to scale and amplify their impact, says Endeavor cofounder and CEO Linda Rottenberg.
Backed by a strong founding board, we are confident that Endeavor Ukraine will play a pivotal role in supporting Ukraines most promising highgrowth entrepreneurs to create their own multiplier effect, Rottenberg says.
Headquartered in New York City, Endeavor builds a global community of entrepreneurs, helping its members grow their ventures, create jobs, transform economies, and support future generations of business leaders in their regions.
An Endeavor office in Ukraine has long been on our radar, and we believe strongly that now is exactly the right time to launch, says Joanna Harries, senior VP of expansion at Endeavor.
In Ukraine, Endeavor will now support local entrepreneurs in tackling various challenges, says Sviatoslav Sviatnenko, the nonprofits managing director in Ukraine.
According to him, these challenges may include preparing for an IPO or MampA, expanding into new countries, recruiting top talent, and more.
Ukrainian entrepreneurs will gain access to an unrivaled global network of peer entrepreneurs, mentors, and investors.
We will connect them with the right people to help them find answers to their questions and grow their businesses faster, says Sviatnenko.
Its no longer about six or so handshakes its just one.
The European Bank for Reconstruction and Development EBRD and the UkraineMoldova American Enterprise Fund UMAEF have provided financial support for the launch of Endeavor in Ukraine.
They believe this will help Ukrainian businesses scale like never before.
In Ukraine, the Endeavors founding board of directors includes seasoned entrepreneurs and investors Flyer One Ventures general partner and Genesis cofounder Vital Laptenok, MacPaw founder and SMRK VC Fund cofounder Oleksandr Kosovan, Svitla Systems president Natalia Anon, Enzym Group supervisory board chairwoman Olena Vovk, Farmak CEO Volodymyr Kostiuk, Reface cofounder and a16z scout Dima Shvets, director for innovation, education and entrepreneurship at UMAEF Anton Waschuk, Citi Ukraine country officer Alexander McWhorter, and StratMinds partner Anton Borzov.
Backed by highly successful people, Endeavor Ukraine will bring immense value to the local entrepreneurial community.
I believe that with all my heart, says Laptenok, who also serves as the boards chair.
A strong economy, great leaders, and success stories this is exactly what we need while the country is at war with Russia, he says.
Endeavor Ukraine will target highgrowth tech companies that are in the scaleup phase and have global growth ambitions. Endeavor Entrepreneurs from Ukraine will join a community of thousands of entrepreneurs worldwide, who serve as role models within the local and international entrepreneurial ecosystems.
Apart from building the community, Endeavor invests up to 2 million in companies led by Endeavor Entrepreneurs through its rulesbased fund, Endeavor Catalyst, which has historically coinvested with industry giants like Index Ventures, Accel, Sequoia Capital, General Catalyst, IFC, and others.
With over 500 million in assets under management, Endeavor Catalyst has invested in more than 300 companies, more than 50 of which are valued at over 1 billion e.g.
Glovo, Altruist, Checkout.com.
Endeavor helps its members connect with the right venture capital firms focused on emerging markets and highimpact entrepreneurs.
Endeavor entering the country, however, isnt just about bringing value to Ukraine, thinks Mykhailo Fedorov, Ukraines Vice Prime Minister and Minister of Digital Transformation.
Endeavor will bring smart and dedicated Ukrainians to its community, many of whom build global businesses from day one, says Fedorov.
As the government, we welcome expanding to the Ukrainian market its of high importance and will definitely be a winwin, he says.
Founded in 1997, Endeavors network spans nearly 40 countries, across Latin America, Europe, Asia, Africa, the Middle East, and the U.S.
Since its inception, Endeavor has supported over 2,800 entrepreneurs globally, creating more than 4.1 million jobs in their local economies and generating combined annual revenues of over 67 billion.
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