Endeavor searches for next Cobonpue, Bo's Coffee

ABS-CBN News

Posted at Sep 27 2017 10:15 AM | Updated as of Sep 27 2017 11:33 AM

MANILA - Endeavor Philippines, a group that mentors disruptive businesses, is bringing its search for high-impact entrepreneurs to Cebu, one of its officials said Monday.

In just 2 years in the country, Endeavor has helped, among others, homegrown Bo's Coffee, technology firm Xurpass and furniture designer to the stars Kenneth Cobonpue.

Its most recent startup, Lenddo, helps banks tap unconventional means like social media presence to determine the credit worthiness of the poor.

"The way we help economies grow is by helping to accelerate what we call high impact entrepreneurs," Endeavor Philippines managing director Manny Ayala told ANC's Market Edge with Cathy Yang.

"What we see is very consistent across all the markets we work in, for an entrepreneur ecosystem to thrive and flourish, really, all it needs is a handful of these high-impact entrepreneurs," he said.

Endeavor entrepreneurs generate 5 times more jobs, 2 times more revenue, are 8 times more likely to mentor other businessmen and 4 times more likely to invest in other businesses, Ayala said.