NEW YORK--(BUSINESS WIRE)--Endeavor announced today that it will launch a new affiliate office in Beirut, Lebanon, expanding its efforts to select and service high-impact entrepreneurs in the Middle East.
This will be Endeavor’s fourth regional affiliate, following successful launches over the past five years in Turkey, Egypt and Jordan. Endeavor has already selected 65 entrepreneurs representing 41 companies in the region and provides a range of services including mentoring, providing access to key networks and introductions to sources of smart capital.
All Endeavor affiliates are spearheaded by a local board of leading businesspeople each of whom share the organization’s vision for screening and selecting entrepreneurs and then providing them guidance to scale their businesses.
The Endeavor Lebanon founding board will be chaired by Fares I. Fares, Chairman and CEO of Wedge Alternatives. He will be joined on the board by Charles El-Hage, retired senior partner of Booz & Company, Selim Ghorayeb, Chairman and CEO of Algorithm, Marwan Kheireddine, Managing Director of Al-Mawarid Bank, Sami Khouri, CEO of Teeba Holding and Azmi Mikati, CEO of the M1 Group. The office will be headed by Managing Director, Tarek Sadi. He will be aided by Desiree El-Chebeir, as Manager of Entrepreneur Services.
“I speak for the whole board in saying that we are very excited about this effort to expand opportunities for entrepreneurs & entrepreneurship in Lebanon,” said Mr. Fares. “We hope to select an impressive array of entrepreneurs who are running companies that will not only change industries, but also create value-added jobs that are necessary for growing our country’s economy.”
“Endeavor’s job is to identify the most promising entrepreneurs in emerging markets and help them scale their businesses. Through our work with high-impact entrepreneurs in the MENA region, we hope to inspire a culture of entrepreneurship, leading to innovation and wealth generation.” said Endeavor Co-founder & CEO Linda Rottenberg. “We’re very excited to be starting work in Lebanon.”
Endeavor breaks down barriers that prevent emerging-market entrepreneurs from reaching their high-impact potential. Hailed by NYT columnist Thomas Friedman as the "mentor capitalist" model and “the best anti-poverty program of all,” Endeavor identifies entrepreneurs leading high-growth innovative companies in emerging markets. These entrepreneurs are given world-class strategic advice, access to key networks and other tools that will catapult them to success. With Endeavor's guidance they become “high-impact” – expanding employment, generating wealth and inspiring others to innovate. Often overlooked, these local entrepreneurs are now jumpstarting private sector development in their countries.
As of 2010, Endeavor Entrepreneurs throughout Latin America, South Africa, Turkey, Egypt and Jordan have created more than 130,000 jobs and generated over $3.5 billion in revenues. For more information, visit www.endeavor.org