FOUR YEARS OF
THE MULTIPLIER EFFECT 2015-2018 IMPACT REPORT
A Welcome Note Multiplier Effect. The words neatly sum up Endeavorâ€™s mission around the world: to create an economic multiplier effect by accelerating High-Impact Entrepreneurs. What makes these entrepreneurs special? They are unusually gifted entrepreneurs who have the biggest ideas, the skills to create large companies, and the heart to reinvest their success in other entrepreneurs. Over the past four years, we have seen the Endeavor network in the Philippines kickstart a multiplier effect in the entrepreneurial ecosystem that has grown with each succeeding year. Post-selection into the Endeavor network, our High-Impact Entrepreneurs have created over 1,700+ jobs and have increased annual revenues by P3.6 billion. Collectively, they generate P6.2 billion in annual revenues. Helping them achieve that impact have been the generous mentors and partners in the network - both locally and abroad - who have given our entrepreneurs access to mentorship, markets, capital, and talent. Our mentors have donated over 450 hours over the past four years to guide our entrepreneurs in their journeys. Importantly, the network also provides our entrepreneurs with a platform that helps them pay it forward more effectively. Endeavor Entrepreneurs are already mentoring, connecting and investing in other entrepreneurs in the local entrepreneurial ecosystem. We believe that every big dreamer should have access to mentors and peers who can support them in their entrepreneurial journey. If our 20 years of history is anything to go by, having this powerful network of mentors and peers is what can truly help an entrepreneur go forth and multiply! Jaime Zobel de Ayala, Chairman Manny Ayala, Managing Director
Endeavor Board Members with the Managing Director at the 78th International Selection Panel held in Manila on April 4-6, 2018.
Endeavor Board and Managing Director at the 2017 Mentor Awards.
Endeavor Board and Managing Director celebrating Endeavorâ€™s 2nd birthday, hosted by Kenneth Cobonpue.
â€œEndeavor actually opened the doors for us for raising capital from other sources other than organic and franchising. It was because of Endeavor that we started being open to outside partners and financiers.â€?
- Meredith Ngo, Adobo Connection 3
TABLE OF CONTENTS Our Mission
Making the Cut in the Philippines
Endeavor Philippines Impact
Our Global Network
Endeavorâ€™s Global Impact
What is a High-Impact Entrepreneur?
The Multiplier Effect
Scale Up Stories
The Endeavor Philippines Network
Our Mission High-Impact Entrepreneurs are those that start a firm, make it a big success and reinvest their success as role models, mentors and investors of the next generation. A small number of successful High-Impact Entrepreneurs turn out to be especially critical. Entrepreneurs at the most influential companies influence 65-80% of companies in their local ecosystems. Endeavor has a replicable model to find and support these entrepreneurs, as well as to increase their impact as role models, mentors, and investors. Now on its fourth year, the Philippine office has worked to select, scale up, multiply, and reinvest the impact of entrepreneurs in the country, in order to accelerate economic development.
Since 2015, only 4% of companies identified by Endeavor Philippines have become Endeavor Entrepreneurs. 6
Making the Cut in the Philippines Since 2015, Endeavor has identified over 500 companies and has gone through great lengths to find the most High-Impact Entrepreneurs who can scale up and pay it forward.
Since 2015... First Opinion Review 174 companies reviewed
Second Opinion Review 57 companies reviewed
Local Selection Panel
31 companies reviewed 27 panelists 13 Local Selection Panels
International Selection Panel 96 International Panelists 21 candidates 9 countries
20 Philippine Endeavor Entrepreneurs
Endeavor Philippines Impact
20 16 companies
annual revenue increase
since selection (excluding 2018)
+P6.3B generated in
revenues in 2017
ACCESS TO MARKETS connected to key resources in
26 countries ACCESS TO MEDIA
generated in media value
ACCESS TO MENTORS
3 advisory boards 450 hours of mentorship received
ACCESS TO TALENT
school internships company externship
6 3 key hires
leadership programs attended
ACCESS TO CAPITAL
raised since selection
ACCESS TO GIVE BACK
30 89% 84%
hours spent mentoring succeeding Endeavor candidates
of Endeavor Entrepreneurs mentored startups in the ecosystem
of Endeavor Entrepreneurs led speaking engagements
Our Global Network
Our Endeavor Entrepreneurs have access to a g that provide spot mentorship, strategic advice,
Some of our mentors around the world:
Reid Hoffman Co-founder and Executive Chairman, LinkedIn, USA
Marissa Mayer former CEO, Yahoo!, USA
Matthew Kennedy Talent Director, Starbucks, USA
Diego Piacentini Senior VP, Amazon.com, Italy
Raoul F.M.L Oberman Director Emeritus, McKinsey & Company, Indonesia
Nevzat AydÄąn Founder, Yemeksepeti, Turkey
Lynda Applegate Professor, Harvard Business School, USA
Hernan Kazah Founder, Kaszek Ventures, Argentina
global network of high-quality mentors , and commercial introductions.
Endeavorâ€™s Global Impact Endeavor was founded in 1997 and is currently present in 31 markets around the world. from
1,768 High-impact entrepreneurs selected
in revenues generated by Endeavor Entrepreneurs in 2017
jobs created by Endeavor Companies
What is a High-Impact Entrepreneur? Our Endeavor Entrepreneurs are High-Impact Entrepreneurs that have successfully passed the entire Endeavor selection process. They are people who...
Reinvest their knowledge, credibility and financial gains in the next generation of entrepreneurs, thus multiplying their influence.
Scale their businesses, creating significantly more wealth and high-quality jobs.
Think Big & Think Boldly to have the biggest, most innovative ideas and the capacity to realize them.
The Multiplier Effect Nix Nolledo Xurpas
Einsights Flowerstore Xurpas Rappler
PurpleClick Stylist in Pocket Quanta
Yondu Stylist in Pocket
Art of Click
Companies Started Companies Invested In
Companies Mentored Companies Started by Former Employees
Seven Springs Food Concept Inc.
Shawarma Sandwich Corner Fundamental Coffee Jacinto & Lirio Bo’s Coffee
Karpose Reap Inc.
Nipa Dekade Architects
Ric’s Food Inc. Agrea Anthill
Pomodoro Theo & Philo
Scale Up Stories Endeavor Philippines provides world-class services to its entrepreneurs, including access to networks and mentors, talent, capital, and markets on local and global levels.
ACCESS TO NETWORKS AND MENTORS
Endeavor Entrepreneur Kenneth Cobonpueâ€™s Advisory Board with mentors Nori Poblador (Navegar Private Equity) & David Guerrero (BBDO Guerrero).
Nix Nolledo, founder of Xurpas, and Farouk Meralli, CEO of mClinica, join other top performing entrepreneurs at the inaugural Endeavor Outliers event in San Francisco.
Custom Advisory Boards Kenneth Cobonpue and Chris Reiter were selected as Endeavor Entrepreneurs in the 2016 Bali ISP. They have since set up an Advisory Board made up of two Endeavor Mentors - Nori Poblador, Managing Partner at the Navegar Fund, and David Guerrero, Chairman and CCO of BBDO Guerrero - to help them with the long-term growth of luxury furniture brand Kenneth Cobonpue. Kenneth Cobonpue is one of three Endeavor companies with Advisory Boards.
Global Networking Events In February 2018, Nix Nolledo, founder of Xurpas, and Farouk Meralli, founder of mClinica, attended the Endeavor Outliers event in San Francisco, along with 63 other Endeavor Entrepreneurs from over 20 countries. The Endeavor Outliers event is a two-day peer and mentor networking event for the top scaling entrepreneurs. Speakers at the exclusive event included Jeff Weiner, CEO of LinkedIn, Marissa Mayer, former CEO of Yahoo, and Dara Khosrowshahi, CEO of Uber.
World-Class Mentors Endeavor Entrepreneurs have access to world-class mentors who are just an email or phone call away. Paolo Hilario of Lay Bare was happily connected to Matthew Kennedy, the Talent Director of Starbucks, when he seeked out advise to when he sought advice on customer experience. Endeavor Communities Community gatherings, in the form of social and learning events, throughout the year - bringing entrepreneurs, mentors, board members, and guests together for casual networking and idea sharing.
Endeavor Entrepreneurs Richard Eldrige of Lenddo, Vivek Padmanabhan of PSG Solutions, and Mario Berta of FlySpaces, beside Endeavor Mentor Danny Lizares, at a luncheon hosted by Board Member Gabby Lopez.
ACCESS TO TALENT
Sourcing key employees
Simon Bakker, founder of Kennemer Foods International Inc., welcomed a new Managing Director to lead the Kennemer Foundation. The Managing Director was a referral from Endeavor’s pool of candidates, who have been profiled and filtered to suit entrepreneur’s needs.
ACCESS TO SMART CAPITAL Mentor Capital Program
Zark Varona of Zark’s Burgers,and Paolo Hilario of Lay Bare at Harvard Business School.
One month after successfully passing the ISP in Madrid, Spain, Bo’s Coffee founder Steve Benitez was able to raise $5M from the Navegar fund, whose top executives are Endeavor Mentors. Endeavor’s Mentor Capital Program connects entrepreneurs with mentors focused on the fundraising process.
Exclusive Harvard & Stanford Executive Education Opportunities
Zark Varona, CEO of Zark’s Burgers, Paolo Hilario, CEO of Lay Bare, and Mario Berta, CEO of FlySpaces, are some of our Endeavor Entrepreneurs who have completed Endeavor programs in Harvard Business School and Stanford’s Graduate School of Business. The leadership programs are open to all network members as part of our Access To Talent services.
The Global Management Immersion Experience (GMIX) of Stanford Graduate School of Business is a partnership which allows our high-impact entrepreneurs to access top talent. Mikko Perez, founder of Ayannah, hosted a Stanford GMIX intern to develop a few projects for his company. Endeavor has partnerships with leading business schools such as Harvard, INSEAD, and MIT.
Steve Benitez, founder of Bo’s Coffee, giving back as a panelist at a Local Selection Panel.
In 2018, mClinica, founded by Farouk Meralli, raised $6.4M in a Series A round which included an investment by Endeavor Catalyst, a fund set up to invest exclusivelyin Endeavor Entrepreneur-led companies. mClinica is Catalyst’s 4th investment in South East Asia.
Endeavor Investor Network extends entrepreneurs' access to equity capital by connecting leading venture capital and growth equity firms from Endeavor’s operating markets with Endeavor Entrepreneurs through exclusive one-on-one meetings and VC roadshows.
Meredith Ngo, founder of Adobo Connection, with her Harvard Business School FIELD Team.
Dustin Onghanseng of uHoo, Farouk Meralli of mClinica, and Mikko Perez of Ayannah, together with Endeavor Entrepreneurs from Indonesia and Malaysia, meet with Endeavor Malaysia Board Member at the World Economic Forum conference in Hanoi, Vietnam.
Mentor Spotlight Our mentors are hand-picked because of both their business expertise and their desire to pay it forward. Mentors contribute to the Endeavor network in several ways including Spot Mentorship and Advisory Board participation.
JASEN KO Why did you decide to be a mentor with Endeavor Philippines? I’ve tried many different ways to make an impact given my time and resources. The biggest challenge I’ve had has always been how to measure result. Through Endeavor I feel that the impact is not only measurable, but also possibly exponential. What has been your most memorable experience inyour time as a mentor? There are many. I value each and every opportunity I have to meet with the entrepreneur pipeline through Endeavor. If I have to choose one, it would be meeting Zark and hearing his story. I love how he was able to transition from his job on-board a cruise line to pursue his dream of becoming an entrepreneur.
Jasen Ko receiving his “Mentor Of The Year” award from Bobbit Panlilio and Manny Ayala.
What is the best advice you'd give to a company looking to scale? I don’t think there’s one silver bullet, it really depends on the industry, market condition, timing etc…. From my experience though, the one consistent thing that has helped me scale different businesses has been the talent or people that have joined me along the way. We are as good as the talent we have, not only through better sharper ideas, but also the ability to execute these ideas.
We are as good as the talent we have, not only through better sharper ideas, but also the ability to execute these ideas.
JOCOT DE DIOS Why did you decide to be a mentor with Endeavor Philippines? When Manny asked me to be a mentor at Endeavor Philippines, I saw the platform as the perfect vehicle to pay it forward. I love to teach – I taught in universities and in law schools before. I saw mentorship as a natural extension of my vocation for teaching. and to work with young, dynamic and successful entrepreneurs made it even more fulfilling and exciting.
Jocot De Dios receiving his “Ecosystem Builder” award from Manny Ayala
What has been your most memorable experience in your time as a mentor? I am not necessarily able to point to any particular experience. Rather, the collective engagement with the entrepreneurs and interaction with the team to date have contributed greatly to my personal growth. How do you think others can contribute to Endeavor's mission? Continue sharing expertise, insight, networks and time. Enjoy yourself as you do it. Do not underestimate the hunger, passion and drive of the entrepreneurs we help. There is no satisfaction greater than seeing them succeed and paying it forward themselves.
Do not underestimate the hunger, passion and drive of the entrepreneurs we help. There is no satisfaction greater than seeing them succeed and paying it forward themselves.
JOCOT DE DIOS
In the Philippines, we have 41 mentors that come from a range of industries and have divserse expertise Mentors by Industry
1% Agriculture 3% Consumer Services
3% Education 3% Government and Social Sector 3% Media 10% Enterprise Software and Services 6% Marketing 7% Healthcare 9% Retail 23% Financial Services 4% Manufacturing 14% Food and Beverage
Mentors by Functional Expertise
13% Infastructure and Utilities
7% Corporate Gov & Legal
11% Financial 7% HR and Organizational 21% Investing 16% Marketing and Sales 11% Operations and Processes 26% Strategy
Endeavor Philippines Network Philippine Mentors JJ Atencio CEO, Januarius
Ben Avancena CEO & Senior Partner OneAsia Healthcare Solutions
Jim Ayala Network Partner, Hystra
Dan Chavasse Management Consultant Practical Solutions Asia
Tennyson Chen CEO. Bounty Fresh
Edgar Chua Cris Concepcion Country Chairman, President, Shell Petroleum BPO International Corporation Philippines
Jocot de Dios CEO, General Electric Philippines
Pocholo Domondon Partner, PWC Philippines /Isla Lipana & Co.
Francis Estrada Chairman Institute of Corporate Directors
Winn Everhart President & GM, Coca-Cola Philippines
Ginbee Go President, BPI Family Savings Bank
David Guerrero Chairman & CCO, BBDO Guerrero
Jim Lafferty CEO, Fine Hygienic Holding
Donald Lim CEO, Dentsu Aegis Network Philippines
TG Limcaoco CFO, Ayala Corporation
Kenneth Liotongco Co-Founder, Kation Technologies Inc.
Gina Lorenzana VP Personal Care, Unilever Philippines
Riza Mantaring Former CEO, Sun Life Financial
Carlos Mendoza Executive Director & Head of Philippines Banking J.P. Morgan
Paolo Mercado SVP Marketing & Consumer Communication, Nestle Philippines
Javi Infante Managing Partner, Navegar
Danny Lizares Partner, Sierra Madre Private Equity
Karen Batungbacal Senior Vice President, Optum Global Solutions
Jessie Carpio President, P&A Grant Thornton Outsourcing, Inc
John Orrock Founder, Future Now Ventures
Nori Poblador Managing Partner, Navegar Fund
Cesar Purisima Asia Fellow, Milken Institute
Jajo Quintos SVP, First Philippine Holdings Corporation
Ina Quiogue Head Strategic Sales ABS-CBN Corporation
David San Pedro Corporate VP & GM Unilab
Paul Santos Managing Partner, Wavemaker
Tina Sabarre Country Director, Retail Johnson & Johnson
Lito Sibayan President and CEO, Mabuhay Capital
Hans Sicat CEO & President Philippine Stock Exchange
Bill Stelton Chairman, Bistro Group, Technolux
Jun Tagud Former CEO & President, 2GO
Arthur Tan CEO, IMI
Tina Tan President, Suy Sing Commercial Corporation
Mark Yu President, SeaOil
Marife Zamora Former Chairman, Convergys
Billy Valtos Myla Villanueva Senior Managing Managing Director Director ICCP Novare Technologies Venture Partners, Inc.
Stephanie Tan-Hamed Partner, SGV & Co./EY
Nix Nolledo Xurpas Enterprise, Inc. Mobile Technology | San Francisco ISP 2015
Brian Cotter PSG Global Solutions Recruitment Process Outsourcing | Mexico ISP 2015
Vivek Padmanabhan PSG Global Solutions Recruitment Process Outsourcing | Mexico ISP 2015
Steve Benitez Bo’s Coffee Food & Beverage | Madrid ISP 2016
Kenneth Cobonpue Kenneth Cobonpue Design | Bali ISP 2016
Christopher Reiter Kenneth Cobonpue Design | Bali ISP 2016
Meredith Ngo Adobo Connection Food & Beverage | Bali ISP 2016
Farouk Meralli mClinica Healthcare | Boston ISP 2016
Mikko Perez Ayannah Financial Services | Kuala Lumpur ISP 2017
Simon Bakker Kennemer Foods International, Inc. Agriculture | Kuala Lumpur ISP 2017
Richard Eldridge Lenddo Financial Services | New York ISP 2017
Jeff Stewart Lenddo Financial Services | New York ISP 2017
Mario Berta FlySpaces Financial Services | Sofia ISP 2017
Ron Hose Coins.ph Financial Services | Sofia ISP 2017
Peter Cauton STORM Enterprise Software and Services | Miami ISP 2017
Zark Varona Zark’s Burgers Food & Beverage | Manila ISP 2018
Paolo Hilario Lay Bare Retail and Consumer Tech | Manila ISP 2018
Dustin Onghanseng uHoo Health Tech | Milan ISP 2018
Patrick Gentry Sprout Solutions Inc Enterprise Software and Services | Buenos Aires ISP 2018
Alex Gentry Sprout Solutions Inc Enterprise Software and Services | Buenos Aires ISP 2018
Philippine Board of Directors
Jaime Augusto Zobel de Ayala Chairman & CEO, Ayala Corporation Endeavor Philippines Chairman
Jasen Ko CEO, ActMedia Endeavor Philippines Vice Chairman
Cezar “Bong” Consing President & CEO, Bank of the Philippine Islands (BPI)
Anthony “Anton” Huang President, SSI Group, Inc.
Eugenio “Gabby” Lopez Chairman, ABS-CBN Corporation
Roberto “Bobbit” Panlilio Senior Country Officer & Banking Head, JP Morgan Philippines
Edgar “Injap” Sia II Chairman & CEO, Double Dragon Properties Corporation
Wilfred “Fred” Uytengsu CEO, Alaska Milk Corporation
Philippine Staff Manny Ayala Managing Director
Rona Aumentado Manager Events & General Affairs
Jules Jurado Manager Entrepreneur Selection & Growth
Caela Tanjangco Manager Entrepreneur Selection & Growth
Maita Mojica Manager Marketing Communications
Raffy Tanpho Associate Entrepreneur Selection & Growth
Our Partners About J.P. Morganâ€™s Corporate & Investment Bank J.P. Morganâ€™s Corporate & Investment Bank is a global leader across banking, markets and investor services. The worldâ€™s most important corporations, governments and institutions entrust the bank with their business in more than 100 countries. With $24 trillion of assets undercustody and $433 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available atwww.jpmorgan.com.
About Ayala Corporation Ayala Corporation is one of the largest and most diversified business groups in the Philippines, with business interests in real estate, banking, telecommunications, water, power, industrial technologies, infrastructure, healthcare, and education. Its social commitment arm, Ayala Foundation, has programs that focus on education, youth leadership, sustainable livelihood, and promotion of arts and culture. With headquarters in Makati City and operations mainly in the Philippines, it continues to grow its regional and global footprint, serving millions of customers across all market segments.
Impact Report Designed by: Monica Recto