MANILA -- Everybody wants to dream big. And those who dream big apparently scale fast and understandably pay it forward once they achieved their goals.
Endeavor, a global community of, by and for high-impact entrepreneurs, recently unveiled its Philippine Multiplier Map, to prove how everyone in its community has grown and reshaped the entrepreneurial ecosystem.
Endeavor Philippines has a “social contract” to its entrepreneurs, who rule the organization. They tell their entrepreneurs they will help them become “big and successful.”
Throughout its eight years of doing business, Endeavor has fulfilled that -- and is committed to do more.
“We want those whom we have helped to also multiply,” Endeavor Philippines managing director Manny Ayala told ABS-CBN News. “If they also do that, we see the ripple effect when they multiply.”
Ayala has a long-standing interest in helping entrepreneurs become more successful in business and develop their “give back” acumen.
Before Endeavor, Ayala founded Hatchd, a tech incubator in the Philippines that has built a portfolio of consumer tech companies. He is also a past president of the Philippine Chapter of Entrepreneurs Organization.
Ayala explained the key concept on how to be a multiplier for Endeavor. “There are entrepreneurs who reflect the 3Ms – magaling, matino and mapagbigay. When we scream, we scream for those three.
“If you are only magaling, forget it. If you are only matino, forget it. Kailangan, all three. They’re the cream of the crop. They operate with a high level of integrity.
“We try to inspire entrepreneurs to dream big, support and invest them to scale faster and then provide them with a platform to pay it forward. We make it very easy for them to pay it forward.”
The reason Endeavor does this is it wants to build a thriving ecosystem of entrepreneurs in emerging and even underserved markets.
“We give them access to inferior networks,” Ayala pointed out. “In Endeavor today, there are about a thousand entrepreneurs who become peer mentors. They understand each other’s pain and they can learn so much from each other.”
Endeavor entrepreneurs have generated over P30 billion in revenues for 2022 alone and created 30,000 jobs. They are committed to guiding and motivating the next generation.
Endeavor also gives its community access to its network of mentors and experts. “Today, we have around 5,000 mentors around the world,” Ayala beamed. “We have very successful business people, very successful investors and very successful entrepreneurs.
“High-impact entrepreneurs reinvest profit, expertise, time to create multiplier effect and transform entrepreneurship.”
Even access to capital, Endeavor Capitalist Fund, is laid out before the entrepreneurs. “There is about P300 million that gets invested to entrepreneurs,” Ayala said.
“We want to make sure these entrepreneurs get to know themselves and get to be better versions of themselves. We bring these educational programs once a year, during the summer. It’s one big program of entrepreneurial leadership.”
Endeavor also gives its entrepreneurs many opportunities to pay it forward. “We give them many opportunities to do those three things,” Ayala said. “To be inspirational.
“We give them opportunities to mentor others and invest both in Endeavor, to the fund and other entrepreneurs.”
Endeavor Philippines’ global portfolio has 53 companies that have churned out a billion dollars of work valuation.
“We have a few that have produced hundreds of millions, but hopefully, in the next few years, we can get them to a billion-dollar valuation,” Ayala said.
Can you do this kind of thing in emerging markets? That was the question Endeavor asked itself 20 years ago, when it was merely starting.
Endeavor pulled its research team and instructed them to go figure out.
Does the multiplier effect happen in emerging markets? The first market that Endeavor studied was Argentina. They went into the tech-ecosystem and interviewed around 200 founders.
The founders were asked five simple questions. Who inspired you to become an entrepreneur? Who mentored you? Who invested in you? Where did you train before you started your own? Did you start in other companies?
In 2000, Argentina had 17 companies and the slide indicated who was mentoring who and who was inspiring who. By 2007, the companies tripled in number and much more interaction happened although still not “robust.”
The interesting view came in 2014, when there was clearly an explosion in the number of companies and interaction. “That was the visualization of the multiplier,” pointed out Ayala.
“There were a few companies that were much larger than the others. Those were the ones who had the most connections. They did the most inspiring and mentoring. They were most invested. The ‘padrino’ for the others.”
Ayala is proud about Endeavor’s team of mentors who continue the sessions. “It’s an ongoing series of mentoring sessions,” he said.
Endeavor has mentors for finance, sales, marketing, even HR. “You have so much access. Each entrepreneur or each company requires something different at different times. Just because this is what’s needed now, that could be different three months from now.”
Yet, Endeavor will have that ability to figure out. “A lot of that is through asking questions. Sometimes, by asking questions, that’s were more questions come out. Then, you realized, that’s right. The ecosystem is built for that flexibility.”
In this pandemic, Ayala disclosed there were companies in their community that went into “critical care.” There were some that were “in-patient,” who had to go to the hospital for some time, while there were a few who were “out patient.”
“We focused a lot into the ‘critical care’ patients to make sure they got through the pandemic,” Ayala revealed. “We are happy to say they all made it through.”