NEW YORK--()--The Citi Foundation recently granted $100,000 to Endeavor in support of its work in South Africa and Turkey. Endeavor is a non-profit organization focused on transforming the economies of emerging markets by identifying and supporting high-impact entrepreneurs who lead mid-size businesses with enormous potential to grow. Endeavor connects these entrepreneurs to top business leaders and mentors, with the goal of creating hundreds to thousands of jobs, generating millions in revenues, and cultivating role models that will spark the next generation of entrepreneurs.
“The Citi Foundation has long recognized that real growth in the developing world will ultimately come from robust private sectors that encourage investment and innovation”
“The Citi Foundation has long recognized that real growth in the developing world will ultimately come from robust private sectors that encourage investment and innovation,” says Endeavor CEO and Co-founder Linda Rottenberg. “Citi has done so much to jumpstart private sector development world-wide. This grant reinforces their commitment to expanding employment and wealth across the emerging and developing world,” she added.
Pam Flaherty, President and CEO of the Citi Foundation added, “We recognize the importance supporting small and growing businesses in developing markets. Not only do these businesses lead to the economic growth and development of their communities, but they provide increased employment opportunities for the residents of those communities as well. We are honored to support Endeavor’s outstanding work to identify and nurture high-potential entrepreneurs to achieve their business goals in both Turkey and South Africa.”
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, 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 January 2007, Endeavor Entrepreneurs throughout Latin America, South Africa and Turkey have created 79,000 new jobs and generated over $1.9 billion in revenues. Endeavor plans to launch operations in Egypt and India in early 2008. For more information, visit www.endeavor.org.