Global Impact Report 2010

ENDEAVOR

IMPACT REPORT

2009—2010

Contents Endeavor Model PAGE 11

Impact, Results, & Action PAGE 23

Network & Financials PAGE 37

Contributors & Board PAGE 59

“Endeavor was formed for the purpose of promoting entrepreneurs in emerging markets. Its basic model is to link up small and midsize businesses with seasoned entrepreneurs so that the little guys and gals can get the advice and contacts they need to grow their companies into bigger businesses that can employ more people - the best anti-poverty program of all.�

Thomas L. Friedman Best-selling author and Pulitzer Prize winning columnist The World is Flat: A Brief History of the Twenty-first Century Version 3.0

Dear Endeavor Friends and Family I’d like to talk about games.

The biggest games of all were held this year, the FIFA World Cup, and everyone in our network enjoyed the festivities, even if we were a tad jealous of our colleagues at Endeavor South Africa!

But Endeavor’s involvement in gaming goes even deeper. Our Argentine firm Globant is running a brand new, 600-employee studio that’s created exclusive products for everyone from FIFA to Dreamworks. At our first selection panel in Cairo this March, we selected our 500th entrepreneur, Mostafa Hafez, whose company Timeline is the first studio in the Middle East to develop games for Xbox 360 and Sony Playstation 3.

Co-Founder and CEO Linda Rottenberg

One of the most exciting Endeavor stories this year involved Three Melons, which develops dazzling “advergames” from its headquarters in Buenos Aires. With the targeted support of Endeavor’s new Mentor Capital Program, the young entrepreneurs behind Three Melons sold their firm to Playdom, a game developer in Silicon Valley. Four months later, Disney acquired Playdom – and with it Three Melons – for $763 million.

Clearly, games are a serious business. And these young entrepreneurs – often dismissed or overlooked in their countries – embody the Endeavor spirit. They’re creative, risk-taking, bold, and charismatic. With Endeavor’s help, the CEO of Three Melons, Mariano Suarez Battan, is traveling around the world, telling his inspirational story. Back home, he’s already giving back to Endeavor to help us find the next generation of business leaders.

Whatever their industry—high fashion or green tech—Endeavor Entrepreneurs are game-changers. And we like to think of ourselves as their coaches. In 2009, business leaders in our network devoted more than 15,000 hours to mentoring these innovators, who in turn have created 130,000 jobs and generated $3.5 billion in revenues. As you read this year’s report, you’ll find many more stories about our impact around the world.

But as I like to say, we’re just getting started. We’ll soon be launching in Lebanon, and our scoping teams are making their way across Southeast Asia, Africa, and the Middle East. Over the next year, we’re excited to be hosting our first International Selection Panels in Silicon Valley and London. We also have new premium entrepreneur services (our Mentor Capital and Top 25 Programs), a new research arm (Endeavor’s Center for High-Impact Entrepreneurship) and a new website at endeavor.org. And we have many ways for you to join our team. We’d love to hear from you.

Until then, let the games begin!

Linda Rottenberg

Endeavor Impact Report 2009—2010

“The knowledge that entrepreneurs continue to be sought and found, that jobs continue to be created, and that local economies are being transformed as a result, inspires us all to forge ahead with increasing determination and zeal.

Endeavor has truly become unstoppable!�

Edgar Bronfman, Jr. Warner Music Group, Chairman & CEO Endeavor Global Board Chairman 2

Introduction

INTRODUCTION.

Endeavor Impact Report 2009—2010

What Endeavor Does

ENDEAVOR TRANSFORMS EMERGING MARKETS BY ESTABLISHING HIGH-IMPACT ENTREPRENEURSHIP AS THE LEADING FORCE FOR SUSTAINABLE ECONOMIC DEVELOPMENT 4

Introduction

When small and medium-sized companies scale, they drive societies forward by generating significant revenue growth and the greatest number of high-quality jobs. It is entrepreneurs—in particular High-Impact Entrepreneurs—who shape and strengthen economies. They not only create wealth, but also clear a path upward for emerging markets.

Endeavor provides High-Impact Entrepreneurs with the tools and connections to achieve their greatest impact.

IN THE LAST 13 YEARS ENDEAVOR HAS BUILT A PORTFOLIO ACROSS

11 Emerging Market Countries in which

506 High-Impact Entrepreneurs generate over

$3.5 BN Annually and have created over

130,000 High-Quality Jobs Endeavor Impact Report 2009—2010

High-Impact Entrepreneurs Lead the Way In 2009, Endeavor companies on average grew jobs by 16% and revenues by 15% while average employment and GDP in Endeavor companies fell by 1.1% and 2.6% respectively.

In Endeavor COUNTRIES during 2009

Endeavor Company Jobs Grew 16%

%

0

5

10

15

Average Employment Fell 1.1%

Endeavor Company Revenues Grew 15%

%

0

5

10

15

Average GDP Fell 2.6% Results based off data compiled May 2010

6

Introduction

Why Endeavor Companies Matter Scaling medium-sized firms into large-sized firms has the most leveraged impact on GDP.

Raising the GDP by 1%

Current GDP CONTRIBUTION by size of firm Mexico

TYPE of firm M I CRO F I RMS

449,900

small FI RMS

20,064

m ediu m FI RMS

Chile

S. Africa

Number of new firms needed to raise gdp 1%

984

LARG E F I RMS

85

M I CRO F I RMS

293,232

small FI RMS

21,630

m ediu m F I RMS

3,538

LARG E F IRMS

139

M I CRO FI RMS

56,897

small FI RMS

7,675

m ediu m F IRMS

7,017

LARG E F IRMS

194

“If 85 small and medium-sized companies become big companies, Mexico's GDP will increase by 1%.

Imagine the impact if we transform 850 companies.

This is Endeavor’s challenge: to make a true impact.”

Emilio Azcárraga Televisa, Chairman & CEO Endeavor Mexico Board Chairman Endeavor Impact Report 2009—2010

What is The Multiplier Effect?

The success of High-Impact Entrepreneurs can be measured by their companies' revenues and jobs, but their impact on a country is multiplied with each case study written, investment secured, and patent filed.

While launching new products is influential, resonating with generations of people is high-impact.

Incomes from high-quality jobs in emerging markets enable families to increase their savings, invest in education, afford healthcare, and reach new standards of living.

THE MULTIPLIER EFFECT IN SOUTH AFRICA

companies

1ok

20K

DOUBLE THE AVERAGE PAY

2 OUT OF 3 EMPLOYEES DESIRE

Endeavor companies pay an average monthly compensation of 20,000 Rand, twice as much as the average monthly compensation for all South African employees and 33% higher than their previous employers.*

In a country with a 24% unemployment rate, nearly 2/3 of employees of South African Endeavor Entrepreneurs say that they want to start their own company in the future.*

TO BE AN ENTREPRENEUR

83% RECOMMENDED EMPLOYER 83% of Endeavor employees would recommend their company to a friend looking for a job.*

8

Introduction

communitieS

FAMILIES

16K+

One Endeavor Entrepreneur can impact OVER 16,000 people Endeavor Entrepreneur Carlo Gonzaga employs 4,500 at Taste Holdings. His employees have 16,605 family members.**

97% CHILD HEALTHCARE ACCESS 97% of employees' children are covered by Med Aid healthcare versus the national average of 13% for South African children.*

2 TWICE AS LIKELY TO HAVE ACCESS TO INDOOR WATER Families of Endeavor employees are more than twice as likely to have access to water via an indoor tap than the national average.*

* Endeavor launched its think tank and research arm in 2009. The Endeavor Center for High-Impact Entrepreneurship (C-HIE) aims to establish Endeavor as the global source of thought leadership for entrepreneurship in emerging markets. To identify and evaluate the reach and recipients of Endeavor’s impact, C-HIE piloted a survey of over 200 employees from eight South African Endeavor companies. ** Based on average family size, University of South Africa study (2007).

Endeavor Impact Report 2009—2010

“The crucial catalyst for change is entrepreneurship.

Nothing else has so much effect on the development of a country.�

Carlos Alberto Sicupira AB-InBev, Board Member Endeavor Brazil Board Chairman Introduction

ENDEAVOR' .M . ODEL.

Launch Endeavor actively scopes emerging markets.

To launch a new office, a strong local private sector must ‘pull’ Endeavor in and commit to providing leadership and financial support to open the affiliate.

REGIONAL EXPANSION To date, 56 selected Endeavor companies are based outside of capital cities from the far tip of Patagonia to Aguascalientes, Mexico.

38% were selected between 2009 and 2010.

INTERNATIONAL EXPANSION HIGHLIGHTS

12

MEXICO

TURKEY

In 2010, Endeavor Mexico operated 10 regional offices.

Representatives from Lebanon, Jordan, Pakistan, Turkey, Mexico, Chile and the United Arab Emirates attended Turkey's ISP and MCP in June 2010.

BRAZIL

JORDAN

In 2010, an ISP was held in Rio de Janiero, where Endeavor Brazil opened a regional office in 2005.

Endeavor Jordan held its first ISP and public launch in September 2009.

CHILE

ARGENTINA

In 2009, Endeavor Chile opened a regional office in Patagonia and hosted its first ISP.

In 2010, affiliates opened regional offices in Rosario and Córdoba.

Endeavor Model

ISP = INTERNATIONAL SELECTION PANEL MCP = MENTOR CAPITAL PROGRAM

LEBANON Endeavor Lebanon is scheduled to launch in the first months of 2011

NEW COUNTRIES Pending launches in United Arab Emirates, Vietnam, Kenya, Indonesia, Philippines and Saudi Arabia.

KEY INDICATORS OF A VIABLE MARKET

An increasingly vibrant private sector A nascent entrepreneurial ecosystem Rising foreign investment EGYPT Endeavor Egypt held its public launch in March 2010 with its first ISP and MCP

Economic and political stability

Endeavor Impact Report 2009—2010

“The Endeavor selection process puts young talent through rigorous interviews with some of the world's most experienced business people. This exchange is priceless.�

Fadi Ghandour Aramex, Founder & CEO Endeavor Jordan Board Member Endeavor Lebanon Board Member 14

Endeavor Model

Select Endeavor screens thousands of entrepreneurs with high-impact potential over the course of a year.

Beyond running high-growth, innovative businesses, candidates must demonstrate that their reach extends beyond company walls.

HARDER THAN

THE ENDEAVOR SELECTION PROCESS : January 2009 t0 June 2010

ENDEAVOR PORTFOLIO

HARVARD Endeavor selected 4% of Endeavor Entrepreneur candidates in the last 18 months. Harvard Business School selected just over 10% of applicants for the class of 2011.

2,653

31%

Consumer Goods & ServiceS

2%

> candidates AT Initial Reviews | with Search & Selection staff

ENERGY

553

5%

Finance

9%

> candidates AT Mentor Reviews | with VENTURECORPS Volunteers

HealthCare & Life sciences

242

12%

MANUFACTURING

26%

> candidates AT 32 Local Selection Panels | with high-level local network members

Technology

159

15%

Professional ServiceS

> candidates AT 8 International Selection Panels | with HIGH-PROFILE GLOBAL NETWORK MEMBERS

108 > HIGH-IMPACT Entrepreneurs representing 70 companies Over the 6-12 month selection process, each candidate that reaches an International Selection Panel receives direct feedback from 18 mentors on average.

Endeavor Impact Report 2009—2010

Support Endeavor unites an elite network of 2,000+ global and local business leaders who serve on advisory boards for Endeavor companies and volunteer as VentureCorps. They act as mentors, investors, and role models to help High-Impact Entrepreneurs scale their companies.

15,780+ HOURS OF MENTORING provided by Endeavor VentureCorps mentors in 2009 92 INVESTORS WORLDWIDE participated in Endeavor’s Mentor Capital Program ENDEAVOR LINKS TOP TALENT

ENDEAVOR GLOBAL Entrepreneur SERVICES

Top 25 Program A program that provides high-touch, customized services to the highest impact entrepreneurs, helping them generate annual revenues of US$100m or greater.

Mentor Capital Program A program that helps top entrepreneurs raise capital through a hands-on boot camp cumulating in a pitch forum to top local and global investors.

Talent Support Programs MBA students from leading US & EU schools and executives from leading corporations guide Endeavor Entrepreneurs on strategy, operations, and financing projects.

In 2009, Endeavor's talent support programs coordinated first-hand experiences for: 31 eMBAs from Stanford GSB, Harvard Business School, Wharton, and others 10 Fellows from Ernst & Young 13 Student Teams from programs at MIT Sloane and Kellogg 13 Endeavor Entrepreneur Participants at Columbia University’s Entrepreneurship and Competitiveness in Latin America (ECLA) program

Global Connections Endeavor Entrepreneurs connect to the Endeavor network through a needs-based approach to receive mentoring, strategic advice, introductions, and media exposure.

EndeavorNET Launched in 2010, Endeavor’s private social network links the Endeavor community of entrepreneurs, mentors, VentureCorps, board members, and staff.

16

Premium programs offered to qualified entrepreneurs

Endeavor Model

Endeavor Services Elevate Entrepreneurs MENTOR CAPITAL PROGRAM The Challenge: Emerging markets lack a community where entrepreneurs and investors understand each other’s needs, negotiate based on fair practices, and build the trust needed to form long-term partnerships.

The Catalyst: Through mentorships with successful investors and an investment-readiness curriculum, the MCP helps Endeavor Entrepreneurs with fundraising and creates a platform for top venture capitalists to invest in them with confidence.

The Change: Three of five Endeavor Entrepreneurs from the pilot class of the MCP have raised equity capital. One company, Three Melons, raised US$600k from Santander Bank and was acquired by social gaming company Playdom in 2010.

The Chain Reaction: Through MCP, Jeff Brody of Silicon Valley-based Redpoint Ventures provided strategic advice to Three Melons during negotiations with Playdom. Endeavor Entrepreneur and Global board member Wences Casares has mentored Three Melons since selection. He called the deal the “first of a kind” for Argentina, bridging Argentine entrepreneurs and Silicon Valley. In July 2010, Disney acquired Playdom for $763 million. Mariano Suarez Battan of Three Melons is now giving back financially to Endeavor and sharing his success story.

GLOBAL CONNECTIONS The Challenge: High-Impact Entrepreneurs often need sustained support through structured programs, but sometimes they require targeted help from global executives with specific expertise and resources.

The Catalyst: Endeavor’s Global Connections program links entrepreneurs to Endeavor’s growing global network—from New York City to Cairo to Beijing.

The Change: Launched in 2009, Global Connections now supports over 30 Endeavor companies.

The Chain Reaction: Global Advisory Board member and Dell VP Erik Dithmer mentored Vinny Lingham on partnerships, expansion and SynthaSite’s go-to-market strategy. Committed to giving back, Vinny speaks at Endeavor events, and is donating 2% equity to Endeavor South Africa.

“I started my business small.

We are now Brazil’s largest marketing firm. In five years we will be one of the world's top twenty, and soon one of the top ten. This is why I volunteer for Endeavor.

I am a High-Impact Entrepreneur and will be every day until my last.”

Nizan Guanaes Grupo ABC, CEO & Founder Endeavor Impact Report 2009—2010

Multiply Endeavor’s impact resonates beyond a company’s balance sheet and a CEO’s boardroom. Endeavor engages key change agents in order to foster entrepreneurial ecosystems and position Endeavor Entrepreneurs as national role models.

Elevate Entrepreneurship Education Endeavor Brazil has partnered with local universities to bring the Kauffman Foundation’s FastTrac entrepreneurship curriculum to millions of students.

Endeavor Argentina has linked MBA students from Universidad Torcuato Di Tella with Endeavor Entrepreneurs to address their market research and marketing needs.

Universities across five continents teach over 175+ cases studies about Endeavor or Endeavor Entrepreneurs.

Inspire Future Generations Global Entrepreneurship Week is an international initiative across six continents that encourages entrepreneurship worldwide. Endeavor was selected by the Kauffman Foundation as the lead host in seven countries and a partner in two.

In 2009, Endeavor offices partnered with 701 organizations, built coalitions that led over 1,736 activities, attracted 5.38 million participants, showcased 61 Endeavor Entrepreneurs, and reached 1.37 billion people through media campaigns and events as part of Global Entrepreneurship Week.

Engage The Media Endeavor led a panel in Egypt focused on media coverage of High-Impact Entrepreneurship in March 2010. Panelists included New York Times correspondent Michael Slackman, NPR’s Jessica Harris and Hisham Kassem, the former publisher of Egypt’s largest circulated daily private publication al-Masry al-Youm.

18

Partnering with the publication Milliyet, Endeavor Turkey published a 16-page feature on entrepreneurship with a circulation of 375,000.

Journalists from six emerging markets attended a workshop on business coverage at the 2009 Endeavor Summit in Miami.

TechCrunch columnist Sarah Lacy has featured thirteen Endeavor Entrepreneurs on Techcrunch.com, including entrepreneurs from Yola, Maqtec, Biruta, Globant, SEDI, Mercado Libre and Endeavor Entrepreneur as well as Global Board Member Wences Casares.

Endeavor Model

“Endeavor is amazing! Brazil will have a key role in the building up of a counterforce to the growing size of Government.”

Jorge Paulo Lemann AB-InBev, Board Member Endeavor Brazil Board Member

Foster Competitive Markets The Mentor Capital Program (MCP) launched in 2009 to prepare entrepreneurs for the fundraising process and link investors to share best practices and encourage transparency.

92 investors from 8 countries have participated in the MCP as mentors, attendees, or panelists in Egypt, Brazil, Chile, Turkey, Uruguay, Argentina and Silicon Valley.

Endeavor Turkey partnered with large Turkish bank Akbank in June 2010 to provide 17 Endeavor Entrepreneurs with a US$13m line of credit and access to more favorable rates, terms, and payment options.

Drive Thought Leadership The Endeavor Center for High-Impact Entrepreneurship opened in 2009 and launched partnerships with the Michael and Susan Dell Foundation, the World Economic Forum and Stanford Graduate School of Business.

Endeavor South Africa, in partnership with the Gordon Institute of Business Science and First National Bank, released the first white paper on entrepreneurship in South Africa.

Influence Policy Makers Endeavor Chile Board Member Jorge Errázuriz served as economic advisor for Sebastián Piñera's presidential campaign, co-chairing the working group on entrepreneurship.

Elected in January 2010, the President placed entrepreneurship at the top of his agenda.

Endeavor Colombia was recognized by the Colombian Ministry of Commerce at the National Summit for Entrepreneurship and Innovation for being one of two organizations that most influenced the entrepreneurial environment.

Endeavor Argentina and the Development and Investment Agency organized Argentina's first entrepreneurship forum for policy makers, resulting in a white paper on developing entrepreneurship programs.

Endeavor Impact Report 2009—2010

“I’m proud to sit on Endeavor Argentina’s Board ten years after becoming an Endeavor Entrepreneur. Having taken Mercado Libre from an idea to an IPO, it’s now fulfilling to watch younger entrepreneurs like Mariano and Pato of Three Melons scale and begin to give back.”

Marcos Galperín Mercado Libre, Co-Founder & CEO Endeavor Entrepreneur Endeavor Argentina Board Member 20

Endeavor Model

Give Back Endeavor is an organization of, by and for entrepreneurs.

Many Endeavor Entrepreneurs voluntarily give back as board members and donors to support and guide the next generation of High-Impact Entrepreneurs. Endeavor aims to be self-sustaining through give-back and other market-driven revenues.

REACHING SELFSUSTAINABILITY Endeavor Entrepreneurs have played an active role in determining local give-back models by joining Endeavor's boards and encouraging fellow entrepreneurs to donate cash and equity to make Endeavor self-sustaining.

how Endeavor Entrepreneurs are giving back All Endeavor countries older than three years have instituted monthly or annual fee give-back programs.

Similar programs are beginning in Egypt and Jordan in 2011 and Turkey in the end of 2010.

83% OF ENDEAVOR ENTREPRENEURS ARE GIVING BACK

ARGENTINA

BRAZIL

CHILE

COLOMBIA

MEXICO

S. AFRICA

URUGUAY

2%

2%

2%

2%

1%

2%

2%

Voluntary commitMENT of equity

Mandatory commitMENT of equity

Voluntary commitMENT of equity on an exit basis

voluntary donation of equity or incremental revenues

Mandatory commitMENT of equity for cash-outs & $10,000 IN annual fees

commitMENT of equity or profits annually

Mandatory commitMENT of equity*

* Endeavor Entrepreneurs selected after June 2010 and participants of premium programs

Endeavor Impact Report 2009—2010

“For a long time, I didn’t believe any government or non-profit could really help develop clusters of high- impact entrepreneurs. But Endeavor has in very tangible ways.”

Sarah Lacey TechCrunch, Columnist 22

Introduction

IMPACT,' RESULTS,' & ACTION.

Endeavor Impact Report 2009—2010

The Endeavor Value Proposition

Endeavor AND High-Impact Entrepreneurs Enable significant and lasting impact in emerging markets

24

Impact, Results, & Action

Shane Immelman LapDesk

za ‘06

PROFESSIONAL SERVICES

High Impact is 105 employees distributing over 1,000,000 LapDesks in 16 countries.

Over 480 million students worldwide lack desks. Without this basic educational tool, children have a harder time learning in class. Shane Immelman is helping overcome this barrier with the ergonomic and portable LapDesk.

Since 2006, Endeavor has worked closely with Shane on his expansion plans and LapDesk’s revenues have increased exponentially. The story of LapDesk has spread just as rapidly: Shane is revered as a role model and businessman, endorsed by Archbishop Emeritus Desmond Tutu and chosen by Harvard Business School for two case studies in its curriculum. Continually focused on R&D, Lapdesk has registered four patents and will release four new products in 2011.

In 2010, FIFA appointed LapDesk as a fund partner, sponsoring 5,000 LapDesks and taking 7,000 LapDesk recipients to the World Cup.

'06 | JUNE '10 R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

+2,666%

+775%

$3.9 MM

86

12 $141,000

“Endeavor has created a culture of mentorship.

Promising entrepreneurs benefit from the wisdom of seasoned business leaders, who in turn are invigorated by the passion and innovation of the entrepreneurs.

The resulting impact is priceless.”

Özcan Tahincioğlu Tahincioğlu Holding, Chairman Endeavor Turkey Board Chairman Endeavor Impact Report 2009—2010

Entrepreneur Spotlight Ebru Çerezci & Güvenç Kılıç Hiref

Mariano Suarez Battan & Patricio Jutard Three Melons

tr ‘09

ar ‘08

CONSUMER GOODS & SERVICES

TECHNOLOGY

High Impact is bringing Turkish handicrafts to London with the click of a button.

High Impact is putting Argentina on the map as a leading web-games developer.

Turkey has long been recognized for textiles and handcrafts, but lacks globally renowned brands.

Ebru Çerezci and her brother Güvenç Kılıç have positioned Hiref to change international perceptions.

When Mariano Suaraz Battan and Patricio Jutard founded Three Melons in 2005, the video game industry in Argentina was nascent. After raising financing, the duo created their first game connected to advertisers, an advergame. The launch of the company’s Indiana Jones LEGO game drew over 10 million users worldwide. Most of Three Melons' games are web-based and generate revenue through in-game advertising and virtual goods.

Over 800,000 people every day play Bola, the studio's first social game, on Facebook and Orkut.

Hiref sustains traditional Anatolian artists while simultaneously ushering their handicrafts into the realm of luxury. The company sells 18 home décor collections, and offers two additional services: an interior design team for luxury hotels and a custom-designed gifts unit for corporate clients. Hiref has two flagship retail locations, and it counts Istanbul’s leading luxury hotels among its clients.

Endeavor mentors have guided Ebru and Güvenç as they developed an e-commerce strategy, expanded into the Gulf Region, and hired a CFO. Through Endeavor’s Global Connections program, Hiref connected with Amazon executive Diego Piacentini, who enabled Hiref’s handicrafts to become the first non-EU products to be available for purchase on Amazon.co.uk!

'09 | JUNE '10

Endeavor mentored Mariano and Patricio as they sought funding. The capital Three Melons secured allowed it to develop and release new products, in turn growing its user base. In 2010, Endeavor’s Mentor Capital Program helped Three Melons prepare its pitch and negotiate its agreement for their acquisition by Playdom, a Silicon Valley social gaming firm. In July 2010, Disney acquired Playdom for $763 million.

'08 | JUNE '10

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

+27.7%

+58%

$3.0 MM

368

$2.35 MM 233

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

+45.7%

!

LDdom O S Play

51 35

y ed b uir acq 2010 s a h w n JuLY whic sney i Di

to

30

Impact, Results, & Action

Imad Malhas IrisGuard

Gabriel Schimmel Medea

J0 ‘09

UY ‘06

TECHNOLOGY

CONSUMER GOODS & SERVICES

High Impact is identifying people in under three seconds with iris recognition technology.

High Impact is exporting Uruguayan products to 35 countries.

Imad Malhas is making Jordan a center of excellence for technology innovation. His company, IrisGuard, is a security solution and services company that produces iris recognition devices, software and middleware.

Gabriel became CEO of his family's traditional textile business in 2002. Since then, he has been transforming Medea into a company with a global reach. It now exports to 35 countries.

Iris recognition technology uses a mathematical system to determine identity in real-time. It is currently the most accurate biometric system in the world, with a 0% false accept rate and a 0% false reject rate. Impressed with the technology and its security applications, Imad founded IrisGuard in 2004.

In 2004, Gabriel entered a joint venture in El Salvador with r-pac International Corporation, a US global outsourcer of choice for mass merchandisers. Through this venture, he launched a manufacturing facility and is currently supplying branded packaging and trim accessories to the world's top mass merchandisers, retailers, and garment manufacturers, such as Wal-Mart and JC Penney. In parallel, he started a sales organization targeted at the European market that is in the process of evolving to another JV with r-pac.

The United Arab Emirates purchased IrisGuard’s Homeland Security Border Control & Illegal Immigration System, which has identified over 500,000 illegal entrants to date. IrisGuard has also deployed 70 ATMs and 380 other stations at retail bank locations in Jordan with the world’s first iris recognition technology.

Endeavor has helped Imad expand beyond Jordan by supporting IrisGuard’s marketing strategy and brokering introductions to leading financial institutions.

'09 | JUNE '10

Gabriel plans to increase his international activities.

He is working with Endeavor to identify opportunities for growth and to strengthen his global partnership.

In 2009, Gabriel participated in the Global 25 Program for Endeavor's highest impact entrepreneurs.

'06 | JUNE '10

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

-38.5%

+9.5%

+130%

+0.6%

$5.4 mM

21

23

$17 mM

318

320

$3.9 mM $7.4 mM

Endeavor Impact Report 2009—2010

Entrepreneur Spotlight Cesar Montes de Oca Vazquez Quarksoft

Ahmed Metwally & Mostafa Hafez Timeline Interactive

MX ‘09

EG ‘10

TECHNOLOGY

TECHNOLOGY

High Impact is a Mexican software development firm that wins contracts over IBM and Accenture.

High Impact is changing the game for Egypt’s video gaming industry and thousands of engineers.

When Cesar Montes de Oca founded Quarksoft in 2001, the Mexican IT industry was characterized by low-quality software development. Quarksoft holds itself—and its industry—to a higher standard. It hires the best Mexican software engineers and implements cutting-edge research from top universities. Quarksoft is the only IT provider in Mexico to offer on-time delivery or a full refund, and its software’s defect rate is ten times lower than the industry average. Quarksoft’s standard for quality has helped it win contracts over major global competitors.

Before turning 18, Mostafa Hafez had sold his first video game to Crystal Interactive for worldwide distribution.

At 21 years old, he founded Timeline Interactive, the first and only video game studio in the Middle East certified by Microsoft and Sony to develop games for Xbox360 and PS3.

Since joining Endeavor, Quarksoft has doubled its workforce, in part to work on digitizing Mexican Social Security, a US$50m project. In 2009, Spanish software developer Oesía acquired Quarksoft in a deal that accelerated their regional expansion with Cesar at the helm.

Endeavor Mexico helped Quarksoft with talent recruitment, marketing strategy and introductions to new clients such as the federal housing fund Infonavit.

'09 | JUNE '10

In 2009, Timeline released CellFactor, the first downloadable video game to use sophisticated 3D visuals and game play physics – in 5 languages and for US$10.

Timeline is not only gaining globally recognized partners and clients, but it is also creating a gaming ecosystem in Egypt by training engineers and cultivating demand for high-end games.

Endeavor selected Mostafa and Ahmed in March 2010 and is helping Timeline to become a leading studio in an industry projected to reach US$68 billion in 2012.

'10 | JUNE '10

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

+0.62%

+63%

+1,500%

+8.6%

$16.1 mM

$16.2 mM

235

$1.84 mM

35

38

144

$115,000

32

Impact, Results, & Action

“At any point of time I can talk to my Endeavor family members – locally and globally – reminding me I am not alone.”

Felipe Vergara Lumni

CO ‘09

FINANCE

High Impact is ten times more students with educational financing in just over a year.

Felipe Vergara is a former professor and serial entrepreneur with an unwavering dedication to education.

In 2001, Felipe worked with scholar Miguel Palacios to implement an equity approach to financing education.

A venture capital fund that invests directly in human capital, Lumni finances education for students in exchange for a small fixed percentage of their future income over a pre-set time period.

Since joining Endeavor, Felipe has grown Lumni from supporting 150 students to over 1,600 students, with a dropout rate of 5% and a default rate below 2%. Lumni’s investors exceed 150 individuals and corporations, and current and forthcoming capital totals US$15m across 20 funds.

Fernando Fabre, Endeavor Mexico’s Managing Director, joined Lumni’s Board of Directors. Lumni is a candidate for the Mentor Capital Program, which helps Endeavor Entrepreneurs prepare for and capitalize on the fundraising process.

'09 | JUNE '10 R E V E N U E from ye a r of selectio n

J O B S from ye a r of selectio n

+580%

+31.6%

$476,000

25 19

$70,000

Mansour Mansour Javna, CEO Endeavor Entrepreneur Endeavor Impact Report 2009—2010

Making Headlines RESPONDING TO DISASTER

From Epicenter to Entrepreneurial Center

ENDEAVOR CHILE HAS TAKEN the following steps: • Raised US$1m in cash and in-kind with the goal of supporting 300 families • Started blueprints for a new Endeavor office in Concepción with co-financing from the Inter-American Development Bank • Helped rebuild over 200 businesses and 100 homes

In February 2010, an 8.8-magnitude earthquake struck Chile, 500 times more forceful than the one in Haiti a month earlier. Endeavor Chile is responding and rebuilding the country with entrepreneurship.

CNN was able to break news within twenty minutes of the catastrophe, after speaking with Endeavor Entrepreneur Leo Prieto, who was providing on-the-ground updates through Twitter. It took local channels more than three hours to get on the air.

To revive the devastated fishing industry, Endeavor Chile launched the Give a Man a Rod program. Its objective is to provide support that sustains and impact that multiplies.

ENDEAVOR IS

ENDEAVOR IS

ENDEAVOR IS

ENDEAVOR IS

Merging!

On the Big Screen!

Lighting the Way!

Strutting the Runway!

Contracorriente, produced by Colombian company Dynamo, wins the Sundance Film Festival World Cinema Audience Award for Dramatic Feature.

Mexico's Lightcom partners with Walmart to illuminate stores using alternative energy.

To celebrate its 40-year anniversary, Azza Fahmy Jewelry launches its luxury line, the Opus Magnum Collection, during NY Fashion Week.

Argentine Endeavor Entrepreneurs Globant & Openware join forces, marking the first Endeavor Entrepreneur merger in Endeavor's history.

34

Impact, Results, & Action

BUILDING A BRIDGE TO THE MIDDLE EAST

High-Impact Entrepreneurship at the Presidential Summit

Four Endeavor Entrepreneurs from Turkey and Jordan participated as delegates Endeavor is expanding in the Middle East and North Africa, with plans to launch in two new countries in 2011.

In April 2010, Endeavor CEO Linda Rottenberg and Endeavor Jordan founding board member Fadi Ghandour anchored The Culture of Entrepreneurship Panel at the White House Presidential Summit on Entrepreneurship.

Over 250 participants from 50 countries attended to deepen ties among business leaders, foundations, and entrepreneurs in the United States and Muslim communities around the world.

In the closing remarks to the Summit, U.S. Secretary of State Hillary Clinton cited Endeavor as one of the State Department's partners for an e-mentoring program.

ENDEAVOR IS

ENDEAVOR IS

ENDEAVOR IS

ENDEAVOR IS

Topping Charts!

Making Deals!

Listed as the most influential executive in nearshore outsourcing, Gabby Rozman, Chairman of Endeavor Uruguay, is joined by Endeavor Entrepreneur Martin Migoya of Globant.

In June 2010, Groupon acquired its Latin American counterpart ClanDescuento, founded by Chilean Endeavor Entrepreneurs Oskar Hjertonsson and Daniel Undurraga.

Collaborating Operating in Across Borders! China!

SteamLab founder Ĺžebnem Karasu of Turkey and Suminter Organics' Sameer Mehra of India are collaborating on a new steam-sterilized organic products venture.

Endeavor helps Mextra, a supplier of metallic alloy powders and tablets for aluminum products, open a facility in China.

Endeavor Impact Report 2009—2010

The Evolution of High-Impact Entrepreneurship Over 10 Years With each High-Impact Entrepreneur, Endeavor fosters entrepreneurial ecosystems. Based on twelve years of historical data, Endeavor can chart its average impact on entrepreneurs and countries over the course of a decade. By selecting and supporting High-Impact Entrepreneurs, Endeavor can change the course of a company. When Endeavor is joined by a community that champions High-Impact Entrepreneurship, Endeavor can change the course of a country.

Endeavor’s Impact On A Single Country

Key

= $5MM ANNUAL REVENUE

= 4 Endeavor companies

Endeavor’s Impact On A Single Entrepreneur

01

Year one

Intellectual Capital

$20M REVenue ______ 800 JOBS ______

= 100 JOBS

before eNDEAVOR

year

4 COMPANIES

In Endeavor Jordan and Endeavor Egypt's first year, Harvard Business School professor Bill Sahlman wrote a case study on Endeavor's launch in the Middle East, marking the third HBS/Stanford GSB case study on Endeavor.

Year three

Year FIVE

Financial Capital

Social Capital

By the third year, an average of 26 local investors engage in the network, having recognized the value of Endeavor's seal of approval for its entrepreneurs.

in Endeavor Colombia’s 5th year, 6 of 18 Endeavor Entrepreneurs invested in or started second companies.

year

03

Cultural Capital

Cultural Capital

year

05 $230M REVenue ______

$110M REVenue ______

10,000 JOBS ______

5,000 JOBS ______

20 COMPANIES

Social Capital

year

Year six

Cultural Capital In its third year, Endeavor Turkey partnered with entrepreneurship magazine Inc. to create a Turkish version of the publication with a circulation of 8000.

In Turkey during the same year, periodicals featured Endeavor or Endeavor Entrepreneurs in 54 articles.

Year TEN

In its 6th year, Endeavor South Africa reached 572,000 people through a 30-second entrepreneurship ad that was screened 266 times at 34 cinemas country-wide.

In its fifth year, Endeavor Brazil's network received 34 entrepreneurship awards. Three years later, Managing Director Paulo Veras was named ‘Brazilian to make largest impact on economy’

by Organizações Globo.

10 $650M REVenue ______

In its 10th year, Andy Freire, an Endeavor Entrepreneur, took over as Chairman of Endeavor Argentina's Board of Directors.

Currently, over 50% of Argentina's Board are Endeavor Entrepreneurs.

In 2008, Argentine Wences Casares, from Endeavor's first class of entrepreneurs, became the first Endeavor Entrepreneur to join Endeavor’s Global Board.

Capital in Context FINANCIAL CAPITAL

95 PERCENT

of Endeavor Entrepreneurs still in operation

28,000 JOBS ______ 40 COMPANIES

human CAPITAL

225 PEOPLE

intellectual capitAl By its fifth year, 94% of Mexico's Entrepreneurs were investing in R&D.

employed by Endeavor companies

15,780 HOURS

12 COMPANIES

of mentoring provided

by Endeavor VentureCorps

814 PATENTS

post ENgagement

• Direct feedback from 2nd opinion reviews & selection panel interviews with Endeavor VentureCorps

first year

YEAR 02 – 03 • Informal mentorship • Financial reviews & presentation coaching from Endeavor staff

YEAR 04 – 05

• Formation of an Endeavor Advisory Board

• Strategic assistance from eMBAs & Fellows

• Ongoing access to an Endeavor Advisory Board

• Needs assessment conducted

by Endeavor VentureCorps

• Online support via the EndeavorNet community

• Strategic assistance from eMBAs & Fellows

• Give-back begins via local Affiliate support programs

The average Endeavor company’s employee workforce has grown by 429% since selection.

The average growth in employment in Endeavor’s ten countries during the years Endeavor operated in those countries is 2%.

SOCIAL CAPITAL

intellectual CAPITAL

YEAR 01

According to new US Census data, 69 percent of first companies started by entrepreneurs in 2000 survived at least two years, and 51 percent survived five or more years.

• Online support via the EndeavorNet community

or patents pending

by Endeavor firms

YEAR 06 – 10 • 1:1 mentoring with Global VentureCorps through Global Connections

• Fundraising preparation within the Mentor Capital Program

• Customized services provided via Top 25 program to enable company to scale to $100M

• Give-back continues through formal Affiliate support programs and through training and mentoring activities

• Promotion of entrepreneur as a local role model via press engagement and educational case studies facilitated by local staff

Active Endeavor VentureCorps spent nearly 1% of their work month mentoring and advising Endeavor Entrepreneurs.

Assuming that pending patents are received, 9.4% of all patents issued to businesses in countries where Endeavor operates have been or are being granted to Endeavor Entrepreneurs.

CULTURAL CAPITAL

5.4 MILLION participants attended

Global Entrepreneurship Week events in Endeavor host countries in 2009.

These 5.4 million participants could fill all ten South African stadiums used for the 2010 World Cup to capacity 10 times over.

Growth analysis based on averages from Endeavor’s annual surveys & research from established affiliates

Impact, Results, & Action

Endeavor Impact Report 2009—2010

95% of Endeavor companies are still in operation

$ 9 2 m raised in equity capital

by Endeavor Entrepreneurs in 2009

130,000+ 225 high-quality jobs created

by Endeavor Entrepreneurs (3/4 created from growth post engagement)

2.7 m people building the HIE movement through Endeavor websites and social networking in 2009

814 patents or patents pending filed by Endeavor firms

495m people reached by Endeavor through print and broadcast media in 2009

average number of people employed by Endeavor companies in 2009

92 investors worldwide participated in Endeavor’s Mentor Capital Program in 2009 to June 2010

10 partnerships that Endeavor’s Center for High-Impact Entrepreneurship (C-HIE) is developing in its first year

401 major entrepreneurship awards received by Endeavor and its entrepreneurs

1998—2009

Entrepreneur Spotlight

10%

Manuel Aravena & Juan Pablo Salas Ascon

Wilson Martins Poit Poit Energia

chl ‘08

Br ‘02

of Endeavor Companies that have sold or IPO'd

86 Endeavor Entrepreneurs have started another company post-selection

432 weeks spent by Fellows and eMBAs on location consulting Endeavor Entrepreneurs in 2009

82% of Endeavor Entrepreneurs who stated that they would not have met their mentor without Endeavor

Endeavor Impact Report 2009—2010

ENERGY

Manuel Aravena and Juan Pablo Salas began their careers as Chilean shipyard workers. When the maritime industry began to flourish in the 1990s, the engineers identified the demand for innovation and seized the opportunity to fill the mid-sized shipping niche.

Wilson Poit was inspired to become an entrepreneur by his father, a rice farmer and merchant, who built his own rice mill.

Ascon is the fastest growing shipyard in Chile. The company recently opened a 20,000-square-meter facility to expand its production capability. Endeavor has provided Manuel and Juan Pablo with a network of mentors who advise them on their growth strategy, international expansion and management structure.

' 0 8 | J UN E ' 1 0

When Wilson noticed that the generator industry in Brazil was unreliable and lacked competition, he made it his business to provide streamlined, comprehensive services.

Founded in 1999, Poit Energia leases generators and offers complementary equipment rental and professional support.

Endeavor Brazil created an Advisory Board for Poit Energia that helped it raise funds for its expansion to Chile, Peru, and Argentina. Since joining Endeavor, Poit Energia has tripled its employees and has grown its revenues eight times over. In 2009, Ernst & Young named Wilson its “Entrepreneur of the Year.” Wilson now sits on the board of Endeavor Brazil, inspiring and guiding other entrepreneurs.

' 02 | J UN E ' 1 0 J OBS f r o m year o f s e l ec ti o n

R E V E NU E f r o m year o f s e l ec ti o n

J OBS f r o m year o f s e l ec ti o n

+281%

+200%

+998%

+370.6%

$14.1 mM (e)

180 (e)

$56 MM

320

60 68

28

$5.1 MM

Impact, Results, & Action

$3.5 bn revenues generated by Endeavor Entrepreneurs in 2009 (2/3 growth resulted post engagement)

Human Capital

Human Capital

R E V E NU E f r o m year o f s e l ec ti o n

$3.7 mM

Financial Capital

Create jobs and wealth by unleashing new talent

High Impact is generating accessible and reliable energy throughout Brazil.

In 2000, the entrepreneurs founded Ascon. The company made a name for itself by reinventing traditional salmon vessels to make them faster, safer and capable of holding more cargo. Today, Ascon is known for producing ships that not only meet the needs of the Chilean maritime industry, but also showcase cutting-edge, unique designs.

Global Impact Metrics

Financial Capital

High Impact is producing superior boats to become the fastest growing shipyard in Chile.

5.4m participants who attended Global Entrepreneurship Week events in Endeavor host countries 2009

MANUFACTURING

Building 5 Types of Capital

22,000+ candidates received professional feedback during Endeavor's Search & Selection process

Develop leaders through hands-on training and advising Social Capital

Social Capital

291 Endeavor Entrepreneurs advised or invested in other companies

Mobilize networks to attract investors and business mentors Intellectual Capital

Intellectual Capital

76% of Endeavor Entrepreneurs invested in R&D in 2009

Lead cutting-edge research to spark innovation Cultural Capital

Cultural Capital Showcase role models to inspire the next generation

1.23m students and teachers whose education or training is supported directly

by Endeavor companies

Endeavor Impact Report 2009—2010

26

64% average growth rate achieved in first two years after engaging with Endeavor

506 High-Impact Entrepreneurs selected from 328 companies

15,780+ hours of mentoring provided

by Endeavor VentureCorps mentors in 2009

123 university cases or case studies on Endeavor or Endeavor Entrepreneurs taught in 2009

14% of first-year Stanford Business School students (6% of HBS) applied to be an eMBA in 2009

Impact, Results, & Action

“Endeavor is the most effective organization in unleashing the power of the entrepreneurial spirit. I believe entrepreneurship is the key to fundamentally improving lives in every part of the world.�

Mike Ahearn First Solar, Chairman Endeavor Global Board Member 36

Network & Financials

NETWORK' & FINANCIALS.

Argentina ENTREPRENEURS

Diego Noriega Evolution Group

Jose Mourelle MaqTec

Miguel Ángel Lagrutta Ultracongelados Rosario

Gabriel Hornstein AM Clean

Alejandro Belaga Finca Pilar

Martin Bonadeo MaqTec

Luciano Nicora V/N Business Process Outsourcing

Martín Méndez AMTEC / NEORIS

Diego Radicella Finca Pilar

Diego Cheja Medix

Lidia María Riba V & R Editorial

Cristian Adamo Archpartners

Diqui James Fuerza Bruta

Jack Cheja Medix

Trini Vergara V & R Editorial

Francisco Coronel Archpartners

Alejandro Larosa FyO

Hernán Kazah MercadoLibre.com

Patricio Miranda Zott Producciones

Maximiliano Guerra Archpartners

Guibert Englebienne Globant

Marcos Galperín MercadoLibre.com

Rodolfo Montes de Oca Zott Producciones

Javier Boustani Arcos Rodantes

Martín Migoya Globant

Lucio Torre MoviLogic

Pablo Gotelli Arcos Rodantes

Martín Umaran Globant

Fernando De Las Carreras Nervous Waters

Claudio López Silva Asignet

Néstor Nocetti Globant

Santiago Bilinkis Officenet

Andy Freire Axialent

Alejandro Frenkel Grupo Fen

Pichon Baldinu Ojalá

Diego Vorobechik Bibliografika

Patricio Fuks Grupo Fen

Federico Seineldin Openware

Gustavo Vorobechik Bibliografika

Anne Marie Richard Grupo S & N

Miguel Sampedro Patagonia Natural Products

Jaime Borta Biocientifica

Eduardo Bruchou HSM

Frank Vera Pop-Vision

Claudio Bedoya BioScience

Nelson Duboscq HSM

Esteban Wolf Progen

Wences Casares Blingnation

Guillermo Casarotti Intizen/Chamana

Norberto Loizeau Promored

Gabriel Nazar Cardon

Inés Berton Intizen/Chamana

Felipe Ayllon Quinta Fresca

Guillermo Marchionni Computación CEICOM

Abel Matias Rozenfarb Keepcon

Fatima Rizzo Sepia

Luis Navas Conexia

Margarita Carlés LAB

Germán Pugliese Technisys

Sebastian Letemendia Conexia

Beltrán Laxague Lavandas de las Sierras

Miguel Santos Technisys

Adolfo Rouillon Congelados del Sur

Leony Staudt Lavandas de las Sierras

Armando Mann Tecnonexo

Francisco Mackinlay CongelArg

Adrián Le Pera LeadToRealty

Santiago Subotovsky Tecnonexo

Jonatan Altszul CORE

Alex Limeres LeadToRealty

Jorge Finkielsztajn Tensocable

Susana Balbo Dominio del Plata

Julio Made Lenor

Mariano Suárez Battán Three Melons

Esteban Brenman Dos Monos

Laura Gall Lihue Expeditions

Patricio Jutard Three Melons

Gian Muraglia DPS Automation

Felipe Llach Lixis

Martín Churba Tramando

Claudio Marangoni Escuela Modelo de Futbol

Santiago Aranda Lixis

Jessica Trosman Trosman

38

Staff Alejandro Mashad Managing Director Celia Alfie Entrepreneur Services María Julia Bearzi Institutional Development Lucía Camardon IADB Program Brenda Finkelstein Special Projects Shirly Kalush Search And Selection Renaud Pellet Entrepreneur Services Nancy Rebizo Administration Nicolás Ramos COO Endeavor Córdoba María José Soler Belén Alvarez Toledo Marketing And Events Carolina Menéndez Trucco Communications

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION

PARTNERS IRSA Globant SAP Inter-American Development Bank / The Multilateral Investment Fund (IDB/MIF) La Nación S.A. PricewaterhouseCoopers

Agencia Nacional para el Desarrollo de Inversiones (Prosperar) Gobierno de la Ciudad de Buenos Aires La Red Innova Consejo Profesional de Ciencias Económicas de la Ciudad Autónoma de Buenos Aires Provincia de Chubut

Credit Suisse (Argentina) S.A.

Municipalidad de Comodoro Rivadavia

Garrido LawFirm

Fundación Banco Provincia

The Boston Consulting Group

US$

ASSETS Current Assets Cash Other Assets Total Current Assets Non-current assets Fixed assets Other Assets Total Non-Current Assets Total Assets

1,850 9,608 11,458 166,255

LIABILITIES & NET BOOK WORTH Liabilities & net book worth Current liabilities Other liabilities Total Liabilities Net Worth

43,794 45,651 89,446 76,809

Total Liabilities & Net Book Worth

> The United Nations sought out Endeavor Argentina to contribute to the Millenium Development Goals' best practices guide on promoting emerging markets entrepreneurship.

94,603 60,194 154,797

166,255

STATEMENT OF INCOME & EXPENSES REVENUES Revenue for general purposes Benefactor donations Entrepreneur donations Corporate sponsorships Fomin-BID

91,524 56,533 75,823 52,382

Revenue for specific purposes Other income

278,902

Total Revenues

555,163

EXPENSES

AR

Search & Selection Entrepreneur Services Institutional Development Education Seminars Special Projects Endeavor Córdoba Endeavor Rosario General Administration & Operations Fomin-BID Depreciation

Endeavor Main Office Buenos Aires

Total Expenses

Affiliate Offices Cordoba Rosario

NET INCOME

Financial Expenses

37,142 78,329 77,288 130,517 28,296 30,979 20,016 79,761 57,135 10,281 549,744 143 5,276

A complete set of the audited financial statements by PriceWaterhouseCoopers for the fiscal year ending December 31, 2009 can be obtained by sending a written request to Endeavor Argentina, Arenales 1999 7° B.

Endeavor Impact Report 2009—2010

Brazil ENTREPRENEURS

Ilana Braun Dermage

Tohoru Watari Nefrocare

Cristiano Buerger Tecnoblu

Roberto Alcântara Angelus

Lisabeth Braun Dermage

Jose Luiz Bhering Vaz Pietra

Edmur Polli Tecnoblu

Sonia Alcântara Angelus

Walter Braun Dermage

Clair E. S. Bizzo Pietra

Bento Massahiko Koike Tecsis

Alexandre Pi APPI Tecnologia

Roberto El Ibrahim Diagnóstika

Alexandre Luis Pigatto Pigatto

André Dayan Vitrogen

Guilherme Bruno Arizona

Filadelfio Venco Diagnóstika

Tomaz Adour

Alexandre Hadade Arizona

Jose Rodriguez Drywash

Jose Augusto Pereira da Silva Pipeway

Marcus Hadade Arizona

Jose Pires Enox

Heloísa Helena Assis Beleza Natural

Ernesto Villela Enox

Rogério Assis Beleza Natural

Severino (Felix) da Silva Escol@24Horas

Jair Conde Beleza Natural

Francesca Romana Diana Francesca Romana Diana

Leila Velez Beleza Natural

Carla Adriana Lucho Gigalink

Luís Alexandre Chicani BenCorp

Osvaldo Lucho Jr Gigalink

Romulo Groisman Biruta Media & Entertainments Mirabolantes

Thai Quang Ngha Gooc

Alan James Biruta Media & Entertainments Mirabolantes Rafael Liporace de Souza Pereira Biruta Media & Entertainments Mirabolantes Matheus Meirelles Damasceno Ferreira Biruta Media & Entertainments Mirabolantes Eliane Borges dos Santos BS Construtora Sidnei Borges dos Santos BS Construtora Ailton Assis Queiroga Compsis Rodrigo Azevedo Comunique-se Marcos Rochlitz Crivo Paulo Silva Crivo Daniel Turini Crivo

40

Antônio Carlos de Gissi Junior Kimberlit Agrociências Arnaldo Goldemberg LAN Designers Maristela Mafei Maquina da Noticia Breno Nely Leite Praca Mastermaq Carlos Tamm Mastermaq Ivan Barchese Mextra Fernando Ortenblad Minha Vida Daniel Wjuniski Minha Vida Rafael Duton Movile Marcelo Sales Movile Nikolaus Geisthövel Nano Endoluminal Luciano Moreira Nano Endoluminal Ricardo Peres Nano Endoluminal

Daniel Li Pixel Labs

Eduardo Bernardes Alexandre de Botton Andre Fonseca

Edgard Ortiz Pixel Labs

Renato Hauptmann

Wilson Poit Poit Energia

Marcelo Salim

Jose Rizzo Hahn Filho Pollux

Paula Hauptmann Aurimar (Harry) Santana Cerqueira Wanderley Schimidt Campos

Ricardo Ferreira Nantes Portal Educação

Penido Stahlberg Filho

André Rezende Prática

Thiago Magre Venco

Luiz Eduardo Rezende Prática

Jaime Teig Agostinho Villela

Mark Barcinski ProPay

Staff

João Carvalho Proteus

Rodrigo Teles Managing Director

Marcelo Romcy Proteus

Oliver Alexander Search and Selection

Andre Figueiredo Publit

Fernanda Antunes Entrepreneur Services

Edivan Costa SEDI

Andrea Bongioanni Controller

Églima Rodrigues SEDI

Isabella Botelho Search & Selection

Mario Chady Spoleto

Renata Chilvarquer Education

Eduardo Ourivio Spoleto

Daniela Chimento Administration

Arnold Eugenio Subway Link

Ludmilla Figueiredo Marketing & Outreach

Luiz Chacon SuperBAC

Leonardo Frade Coordinator Curitiba

Helio Katanosaka Tech4b

Maria Juliana Giraldo Marketing & Outreach

Luiz Roberto Werner Wolf Tech4b

Germano Guimarães Education

Valério Paz Dornelles Tecno Logys

Marcelo Guimarães Entrepreneur Services, Rio de Janeiro

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION Natasha Hazan Regional Coordinator, Rio de Janeiro Leandro Herrera Marketing & Outreach

US$

PARTNERS

ASSETS

Allis

Cash & cash equivalents Other accounts receivable Total Current Assets

Barbosa, Müssnich & Aragão

Conrado Kaczynski Entrepreneur Services

Companhia de Idiomas

Karen Kanaan Entrepreneurial Culture Director

DELL

Non-Current Assets Judicial deposits Fixed assets Total Non-Current Assets

Paloma Lambranho Search & Selection

DentalCorp

Total Assets

Ernst & Young

DBM Brasil

FDC- Fundação Don Cabral

LIABILITIES & NET BOOK WORTH

FNQ

Bianca Martinelli Entrepreneur Services

Grupo ABC

Lucas Melman Entrepreneur Services & Expansion

ICTS

Provision For Vacation Pay Taxes Payable Project Designated Advances Other Payables Total Liabilities

Amisha Miller Research

Insper (Ibmec São Paulo)

Retained Earnings

Integration

Total Liabilities & Net Book Worth

Letícia Queiroz Entrepreneur Services

ISAT

Liliana Queiroz Administration

Mandic Máquina da Noticia

REVENUES

Camila Rocha e Silva Marketing & Outreach, Rio de Janeiro

MBA Empresarial

Lídia Santos Daniel Marketing & Outreach

PriceWaterhouseCoopers

Corporate donations ABDI partnership revenue SEBRAE partnership revenue Other revenues

Juliano Seabra Education & Research Director

Sirin&Haguiara

Total Revenues

Marcos Simões Search & Selection

Subway Link

EXPENSES

TOTVS

Elaine Souza Administration

Um por cento

Rodrigo Zampollo IT

Zapt Midia

Taxes Project Costs Personnel Administrative Costs

Lan Designers

Organizações Globo

63,763 14,666 30,372 4,789 113,590 2,602,205 2,715,795

STATEMENT OF INCOME & EXPENSES

1,763,978 251,788 86,258 33,874 2,135,898

Só Marcas

Virid

Rodolfo Zhouri Coordinator Belo Horizonte

> Nearly 1.5 million people downloaded Endeavor Brazil's online seminars over the last 3 years.

81,308 1,641 82,949 2,715,795

Luiz Guilherme Manzano Search & Selection

Heartman House

2,630,182 2,664 2,632,846

BR

84,883 776,580 854,456 51,220

Total Expenses

1,767,139

FX Revenue (Expense)

202,059

NET INCOME

570,818

A complete set of the audited financial statements by PriceWaterhouseCoopers for the fiscal year ending December 31, 2009 can be obtained by sending a written request to Instituto Empreender Endeavor Brasil, Rua Quatá,300 - 4o andar, 04546-042 Vila Olímpia, São Paulo, SP, Brazil.

Endeavor Main Office Sao Paulo Affiliate Offices Belo Horizonte Curitiba Rio de Janeiro

Endeavor Impact Report 2009—2010

Chile ENTREPRENEURS

Oscar Fuenzalida Doggis

Andrés Rivero Quick Deli

Romina Fuenzalida Administration

Jorge Nazer ALTO

Rolando Carmona Drillco Tools

Patricia Gallardo Marketing & Outreach

Michelle Boisier Araucania Yarns

Iván Báez EMAN

Andrés Turski Quick Deli; Grupo Sport Café Dominga

Manuel Aravena ASCON

Nicolás Barry Gemelo Storage Solutions

Juan Pablo Salas ASCON

Sergio López Gemelo Storage Solutions; Intelliholding; ProactiveOffice Alvaro Ananías GENESYS

Tiburcio de la Cárcova Atakama Labs Esteban Sosnik Atakama Labs Juan Eduardo Neuenschwander Autobahn Santiago Muzzo Bazuca.com Leo Prieto Betazeta Francisco Sandoval Betazeta Fernanda Maturana Bolsas Reutilizables Pablo Maturana Bolsas Reutilizables Ignacio Idalsoaga BuinZoo Greg Barton Business News Americas Roberto Manieu Chileangourmet Paulina Peñaloza Chileangourmet Félix Brunatto Chocolates Brunatto Cristóbal Camino Chocolates Brunatto; INNOBANK Erik Torreiter Colaboración Virtual José Manuel Barros Colegium Ariel Gringaus Colegium Christian Cortés CORBAC FOODS Geraldine Mlynarz DIAGNOTEC Ana María Sandino DIAGNOTEC Ricardo Duch Doggis

42

Javier Donoso GEOMAR Daniel Daccarett Globe; PRODUCTO PROTEGIDO Mario Araya KIBERNUM Steven Cohn KITCORP Italo Contenla KITCORP Nicolás Lipthay KITCORP Alberto Gana Latitud 90 Felipe Howard Latitud 90 Pilar Marambio Maraseed Rodrigo Marambio Maraseed Víctor Bórquez Max Service Mariano Pola MICROLOGICA

José Manuel Horwitz Rahue Luis Vera SCOPIX Max Grekin SKM Seaprende Abishai Rovner SKM Seaprende; Bercia Patricia Cuevas SOCOMAL Julie McPherson Tiaxa Felipe Valdés Tiaxa Felipe Hurtado Trabajando.com

Mai Ann Healy PiLA Fellow Patagonia (2010-2011) Anette Krohn COO Lily Lyman PiLA Fellow, Patagonia (2008-2009) Carolina Montes Entrepreneur Services, Patagonia Paul O`Toole Entrepreneur Services Gabriela Pacheco Marketing & Outreach Intern (2009) Natacha Rovira Search & Selection, Patagonia Sasha Sadrai PiLA Fellow, Patagonia (2009-2010)

Juan Pablo Swett Trabajando.com

PARTNERS

Alfonso Gómez

Unlimited; Virtualia; Multiverso

3M

Rodrigo Jordan VERTICAL

AFP Habitat

Acción Emprendedora

Matías Errázuriz Wetland; Genera4

AmCham Chile

Edmundo Ganter Wetland

AVINA

Olivier Paccot WOODTECH

Cámara de Comercio de Santiago

Michael Yorston WOODTECH

CNN Chile

aqua.cl The Boston Consulting Group CISCO Columbia Business School Deloitte

Loreto Seguel Mundo Marino; La Bocatta

Staff

Diario Austral

Francisco Seguel Mundo Marino; Life Gourmet

Alan Farcas Managing Director

Diario Financiero

Oskar Hjertonsson Needish; ClanDescuento

Nicole Amaral PiLA Fellow (2009-2010)

Enjoy

Daniel Undurraga Needish; ClanDescuento

Christian Boada Patagonia Office

Extend Comunicaciones

Isabella Jaras Nutra Bien

Verónica Burgos Projects & Administration

First Tuesday

Patricio Jaras Nutra Bien

Camila Cangas Search & Selection

Foro Innovación

Karina von Baer OLEOTOP

Macarena Carrió Education, Patagonia

Generación Empresarial

Jorge Pacheco OXXEAN

Ana Cordovil PiLA Fellow (2008-2009)

Harvard University

Diario Llanquihue Ernst & Young FerradaNehme

Fundación Chile Global Entrepreneurship Monitor

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION US$

Revista Capital

ASSETS

IESE

Revista City

Innova Chile de CORFO

SalmonValei

Inter-American Development Bank The Multilateral Investment Fund

Sloan, Stanford University

Kauffman Foundation

La Tercera

Kellogg School of Management

Current Assets Cash Marketable Securities Accounts Receivable Recoverable Taxes Deferred Taxes Total Current Assets

369,110 325,728 20,838 4,754 2,363 722,794

TVN

The Massachusetts Institute of Technology (MIT)

Universidad Adolfo Ibáñez

Universidad Del Desarrollo

Fixed assets Office Equipment Computer, Furniture and Other Other Fixed Assets Accumulated Depreciation Total Non-Current Assets

20,831 45,735 45,217 (102,960) 8,823

Universidad de Chile

Other Assets

8,855

Total Assets

740,472

ICARE

Ministerio de Economía Ministerio de Hacienda El Mercurio Mujeres Empresarias

SOFOFA

Universidad Federico Santa María Universidad Católica de Chile

Princeton University Proyecto Propio

LIABILITIES & NET BOOK WORTH

REELA, Stanford University

> Endeavor Entrepreneurs from Chile have raised over USD $120 million in capital.

Accounts Payable Credit Cards Payable Unearned Revenues Retentions Accrued Liabilities Total Liabilities Paid In Capital Accumulated Gains (Losses) Net Income (Loss) in 2009 Equity Total Liabilities & Net Book Worth

CHL

91,637 752 340,745 8,578 7,509 449,221 760,259 (409,086) (59,922) 291,251 740,472

STATEMENT OF INCOME & EXPENSES REVENUES

Endeavor Main Office Santiago Affiliate Offices Patagonia

Board/Advisory contributions Individual Donations Projects Interest Income Other Revenues

438,977 29,484 343,589 9,999 2,211

Total Revenues

824,261

EXPENSES

A complete set of the audited financial statements by Deloitte Chile for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Endeavor Chile, Av. Kennedy 5735, office 1607, Torre Poniente, Las Condes, Santiago, Chile.

Salaries And Wages Professional Fees Telephone Rent, Occupancy And Utilities Printing And Publications Events And Activities Travel Depreciation And Amortization Office Expense Commissions Other Expenses

233,782 182,305 12,030 31,018 16,174 294,847 31,639 6,336 4,005 8,699 58,741

Total Expenses

879,575

Financial Expenses NET INCOME

(7) (55,307)

Endeavor Impact Report 2009—2010

Colombia ENTREPRENEURS

Staff

PARTNERS

Gigliola Aycardi Bodytech

Gaia De Dominicis Managing Director

The Boston Consulting Group

Nicolas Loaiza Bodytech

Eduardo Avella Communications & Institutional Relations

Kroll

Janneth Castañeda Administration

Fundacion Bavaria

Juliana Galvez Search and Selection

Brigard & Urrutia

Camila Lecaros Entrepreneur Services

Horwath Colombia

Oriana Torres Entrepreneur Services

FD Gravitas

Fabio Velazquez CEBAR Andres Calderon Dynamo Cristian Conti Dynamo Diego Ramirez Dynamo Rodrigo Guerrero Dynamo Mauricio Angel Ideagro Lilian Simbaqueba Lisim Esperanza Morales LST Felipe Vergara Lumni

Korn Ferry International Ernst & Young Cardenas & Cardenas Abogados Brigard & Castro Concurso Ventures

Daniel Uribe Search and Selection Camilo Vidales Special Projects

Endeavor Main Office Bogota

> In 2009, Endeavor Colombia’s 76 VentureCorps members donated over 3,100 hours to support Endeavor Colombia's search and selection operations and mentor Endeavor Entrepreneurs.

Jorge Cardona TES America Daniel Rosas TES America Carlos Londoño TVG Kenneth Mendiwelson Refinancia Monica Patiño Servinformacion Ximena Patiño Servinformacion Carlos Parada Servinformacion

CO

44

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION

“Endeavor is bringing a platform for entrepreneurs to succeed to countries like Colombia.

Endeavor Entrepreneurs in Colombia will provide new employment opportunities, help redistribute income, and invigorate the Colombian economy.”

US$

ASSETS Current Assets Cash & Cash Equivalents Accounts Receivable Total Current Assets Property, Plant & Equipment

16,238

Total Assets

82,789

LIABILITIES & NET BOOK WORTH Bank overdrafts Accounts Payable Taxes Payable Salaries/Vacation Payable Contingency liabilities Other Liabilities Total Liabilities Net Worth

5,748 33,214 4,149 13,928 537 21,982 79,557 3,232

Total Liabilities & Net Book Worth

82,789

STATEMENT OF INCOME & EXPENSES REVENUES Individual Donations Training Revenues Consulting Revenues Interest Income Other Revenues Total Revenues

411,175 41,983 25,377 926 18 479,479

EXPENSES Personnel Expenses Consultants Miscellaneous Leases Services Travel Depreciation Expense Taxes Maintenance/Repairs Contributions/Affiliations Insurance Utilities Legal Costs Other non-operating expenses Total Expenses NET INCOME

Alejandro Santo Domingo Quadrant Capital Advisors, Inc., Managing Director Endeavor Colombia Board Member

63,803 2,748 66,551

294,131 45,635 43,438 27,445 21,793 19,837 3,513 2,875 1,761 103 56 47 51 2,761 463,446 16,033

A complete set of the audited financial statements by Ernst & Young for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Endeavor Colombia, Calle 67 No. 7-94, Oficina 604, Bogota D.F. Colombia.

Endeavor Impact Report 2009—2010

Egypt

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION

Staff

Fatma Ghaly Azza Fahmy Jewellery

Ahmed Ezzat Managing Director

Omar Fathy Divine Worx

Ahmed El Bedawy Entrepreneur Services

Nadia Wassef Diwan Bookstore

Mahmoud Gad Finance & Administration

Hind Wassef Diwan Bookstore

Dana Moussa Search & Selection

Hiba Jammal El Matbakh

Danielle van de Kemenade Communications & Outreach

Tarek Khaddaj El Matbakh Ahmed Metwally Timeline Interactive Mostafa Hafez Timeline Interactive Khaled Ismail SySDSoft, Inc.

PARTNERS American Chamber of Commerce

US$

ASSETS

ENTREPRENEURS

> Endeavor Egypt is launching the first national media campaign on High-Impact Entrepreneurship.

Current Assets Cash & Cash Equivalents Accounts Receivable Prepaid Expenses Other Expenses Total Current Assets

198,123 4,746 761 1,087 204,717

Fixed Assets

28,957

Total Assets

233,674

LIABILITIES AND NET ASSETS Current Liabilities Accounts Payable Social Insurance Payable Payroll Taxes Payable Total Current Liabilities

543 2,070 30,866 33,480

Total Liabilities

33,480

NET WORTH Net Worth at the beginning of the year Net Income Total Net Worth

217,211 (17,017) 200,195

Total Liabilities & Net Worth

233,674

STATEMENT OF INCOME

Deloitte Daily News Egypt

REVENUES

German-Arab Chamber of Industry and Commerce

Contributions

300,000

Total Revenues

300,000

The Institute of International Education (IIE)

EXPENSES Personnel Programs Other Expenses

Endeavor Main Office Cairo

EG

46

172,202 144,315 500

Total Expenses

317,017

CHANGE IN NET ASSETS

(17,017)

A complete set of the audited financial statements by Deloitte Egypt for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Endeavor Egypt 22 Kamal El Tawil St., Zamalek Cairo, 11211 Egypt.

Network & Financials

Jordan

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION US$

ASSETS

ENTREPRENEURS

Staff

Mohamad Haj Hasan Akhtaboot

Carmen Saad Managing Director

Yousef Shamoun Akhtaboot

Ismail Al-Atrash Search & Services

Widad Akrouk Al Masar

Tamer Al-Salah Search & Selection

Amin Amin CADER

Rayan Ghosheh Marketing & Communications

LIABILITIES AND NET WORTH

Thabet Al-Nabulsi Challenger Team

Catherine Halaby Entrepreneur Services

Accounts Payable Total Liabilities

Imad Malhas Iris Guard

Net Worth

80,424

Total Liabilities & Net Worth

114,053

Mansour Mansour Javna Laith Zraikat Jeeran Omar Koudsi Jeeran Hassan Atmeh KeenWash Moutaz Atmeh KeenWash Nader Atmeh KeenWash Amjad Aryan Pharmacy 1

Current Assets Cash & Cash Equivalents Accounts Receivable Other Current Assets Total Current Assets Net Fixed Assets Total Assets

> With 13 Endeavor Entrepreneurs already in its portfolio, Endeavor Jordan is beginning to make its mark on the Jordanian entrepreneurial landscape.

16,983 85,659 118 102,760 11,292 114,053

33,629 33,629

STATEMENT OF INCOME REVENUES Board Contributions Other Donations

230,137 1,970

Total Revenues

232,107

EXPENSES Personnel Office Expenses Public Launch Event Travel Other Depreciation

164,467 18,882 52,715 14,445 (1,378) 2,294

Total Expenses

251,426

NET INCOME (LOSS)

(19,319)

Endeavor Jordan is currently engaged in its first formal audit process and will have audited 2010 financials available by request next year.

Endeavor Main Office Amman

JO

Endeavor Impact Report 2009—2010

Mexico ENTREPRENEURS

Marcus Dantus Innovamedica

Moises Guindi Tequilera Milagro

Angélica Saleh Administration Manager

Juan Manuel Alvarado Acento Mexicano

Maan Hamadé InterDeli

Pablo Elizarrarás Todo De Cartón

Alfredo Suárez AliBio

Heberto Taracena Blé Inventmx

Diego Elizarrarás Todo De Cartón

Anabell Trejo Consultant, Entrepreneur Services

Carlos Marín Alltournative

Marisol Alfaro Hernández L´Atelier du Chocolat

Manuel del Castillo Urman

Arturo Merino Arccanto

Jon Andoni Ertze Lightcom

Fernando Martinez Vialux

Víctor Calderón Arccanto

Antonio Ertze Lightcom

Francisco Moncayo Vialux

Martha Debayle BBMundo

Murry Tawil Abadi Maskota

Ximena de Alba Luis Cabrera Isabel Name Sarahí Orduño

Pablo Gonzalez Cid Café Punta del Cielo

Isaac Tawil Maskota

Staff

ENDEAVOR BAJA CALIFORNIA

Leonardo Shapiro Capital Gain Intelligence

Carlos Mastretta Mastretta

Dan Schwarzblat Chilim Balam

Héctor Álvarez METCO

Daniel Espinosa de los Monteros Daniel Espinosa Studio

Guillermo Casares González Mexis

Alejandro Villalón Desarrollos Integrales SAL

Oscar Carrillo MexQ

Patricia Rivera Dieta de los Asteriscos

Guillermo Jaime Calderón MIA

Gabriel Oropeza Docsolutions

Pablo Martínez Gama N Maz (Naturalia)

Guillermo Oropeza Docsolutions

Francisco Martínez de Velasco Neology

Javier Arredondo Editorial Mapas

Carlos Manuel Iturriaga Ollin Studio

Ezequiel Farca Ezequiel Farca

Alejandro Diego von Correr Ollin Studio

Gerogina Medina Junior Manager, Entrepreneur Services

Heriberto Acosta Farmatel

Enrique Gómez Junco Optima Energia

Edvard Pettersen Consultant, Entrepreneur Services

Vicente Fenoll Algorta Fincomun

Christian Guerra Previta

Joaquín Matienzo I Fullsand

Morgan Guerra Previta

Kate Reid Senior Analyst, Entrepreneur Services

Jorge Gonzalez Gasque G2 Consultores

Paulino Decanini Primedic

Enrico Robles Junior Manager, Entrepreneur Services

Carlos Mier y Teran Grupo MYT

Mauricio Pariente Procesa Chiapas

Sandra Román Junior Analyst

Blanca Pérez Manager, Yucatan

Jaime Cater HDS

Alejandro Chaljub Procesa Chiapas

Ma. Paula Roteta Director, Public Relations

Flor Lian Flores Pech

Patricio Villarreal Imagen Dental

César Montes de Oca Quarksoft

Aitor Ruiz Director, Entrepreneur Services

Ricardo Villarreal Zambrano Imagen Dental

Tatiana Bilbao Tatiana Bilbao

Emilio Sacristán Rock Innovamedica

Daniel Schneeweiss Bernstein Tequilera Milagro

Blanca Saldívar Senior Manager, Entrepreneur Services

48

Fernando Fabre Managing Director Francisco Álvarez Junior Manager, Public Relations Troy Bilbao Senior Analyst, Entrepreneur Services

ENDEAVOR AGUASCALIENTES Antonio Martín del Campo Regional Director, Center

Adriana Eguía Manager, Baja California ENDEAVOR CHIAPAS Elisa Carballo Manager, Chiapas ENDEAVOR GUANAJUATO

Rocío Díaz Consultant, Entrepreneur Services

Estela Calderón Manager, Guanajuato

Ana Victoria García Director, Entrepreneur Services

ENDEAVOR OCCIDENTE

Carmen Gutierrez Junior Manager, Public Relations Alejandro Martínez Senior Analyst

Javier Ballesteros Quiñones Regional Director, Occidente Patricia Barroso Elizabeth Aguirre ENDEAVOR PUEBLA Vincent Speranza Regional Director, South Giovanna Cortés ENDEAVOR SINALOA Rubí Beltrán Palafox Manager, Sinaloa ENDEAVOR Yucatán

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION

PARTNERS BCG Consejo de la comunicacón Horwath Castillo Miranda Korn Ferry Mexis Televisa

US$

ASSETS

> Between 2004 and 2010, Endeavor Mexico has grown from 1 to 10 offices, from 15 to 180 supported Endeavor Entrepreneurs, and from 3 to 32 staff members.

Current Assets Cash Accounts Receivable Taxes Receivable Property And Equipment Other Assets

253,057 64,345 6,943 15,819 4,754

Total Assets

344,917

LIABILITIES Accounts Payable Taxes Payable Total Liabilities

3,338 30,950 34,287

Net Worth At Beginning Of The Year Change In Net Worth Net Worth

346,821 (36,191) 310,630

Total Assets & Liabilities

344,917

STATEMENT OF INCOME & EXPENSES Endeavor Main Office Mexico City

Affiliate Offices Aguascalientes Baja California Chiapas Guanajuato Jalisco Nuevo Leon Puebla Sinaloa Yucatan

REVENUES Donations Services Other income

1,038,941 12,031 5,159

Total Revenues

1,056,131

EXPENSES Communication & Education Administration Institutional Development Other Costs Services For Entrepreneurs Fluctuating Exchange Rates & Bank Commissions Income Taxes Total Expenses Financial Expenses NET INCOME

MX

311,236 15,629 55,438 10,754 686,867 4,495 9,164 1,093,584 1,263 (36,191)

A complete set of Mexico City and Monterrey's audited financial statements by Horwath Castillo Miranda for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Endeavor Mexico at Manuel M Ponce 125, B, Col. Guadalupe Inn, México D.F.

Endeavor Impact Report 2009—2010

South Africa ENTREPRENEURS

Elton Bondi Cyest Corporation

Theunis Botha Nirph Digital

Kumaran Padayachee Spartan Technology Rentals

Handri Conradie @Source

Andreas Cambitsis Cyest Corporation

Marius Bezuidenhout Nirph Digital

Natalie Killassy Stitch Wise

Nuno Pires Altis Biologics

+

Reuben Louw Dignity Boards

Gustav Praekelt Praekelt

+

Bruno Mungofa Studio 05

Nicolaas Duneas Altis Biologics

+

Estelle Venter Dignity Boards

Josh Adler Prefix Technologies

+

Cecilia Mungofa Studio 05

Dumi Gumbi Anamazing

Gregory Starke Disa Vascular

Sam Hutchinson Prefix Technologies

+

Nashville Mungofa Studio 05

Isabelle Rorke Anamazing

Kerryne Neufeldt iSlices

+

Sakhumzi Maqubela Sakhumzi Restaurant

Vinny Lingham Yola

+

Langa Sangoni Apple Green Holdings

Glen Ansell i5

+

Ntuthuko Shezi Scratch Mobile

Robert Dennison Trainiac

+

Tim Mohulatsi Apple Green Holdings

+

Amos Mtsolongo Kasty Gaming Zone

Shona McDonald Shonaquip

Wilter Du Toit Virtual Mobile Tech

Christopher Whitfield Batswadi Pharmaceuticals

+

Musa Maphongwane Kasty Gaming Zone

+

Luvuyo Rani Silulo Ulutho Technology

DJ Kumbula InnoVent

Candice Roberts CallForce Direct

Shane Immelman Lapdesk

+

Lonwabo Rani Silulo Ulutho Technology

Zahke Kuhzwayo InnoVent

Cheryl Nesbitt Capsicum Culinary Studio

Lemao Motaung Medupe Electrical Supplies

+

Colin Albertyn SmartCRUTCH

+

Adri Schutz Mielie Fashions Gustav Schoeman Nirph Digital

Endeavor Main Office Johannesburg

ZA

50

> During 2009 Global Entrepreneurship Week Endeavor South Africa led a coalition of 14 organizations to reach more than 14 million South Africans, 7079 directly through 19 hosted events.

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION US$

ASSETS

Staff

PARTNERS

Malik Fal Managing Director

Actis

Maria Azevedo Marketing & Outreach

Deloitte

Current Assets Bank balances & cash Taxation Asset Trade & Other Receivables Total Current Assets

Rezaan Daniels Search & Selection

Discovery Health

Property, Plant & Equipment

13,998

Emzingo

Total Assets

55,450

Citi

23,833 613 17,006 41,452

Nontokozo Hlangweni Marketing & Outreach

Ernst & Young First National Bank

LIABILITIES

Fiona Pieterse Administration

Georgetown University, McDonough School of Business

Tumi Sefolo Search & Selection

The Gordon Institute of Business Science

Trade & Other Payables Loan Payable Total Liabilities

Sean Walker Entrepreneur Services

INSEAD Business School

Net book worth at the beginning of the year 2009 Net Income

(55,140) 39,218

London Business School

Retained Earnings (Accumulated Loss)

(15,922)

Transvaal Electric

Total Assets & Liabilities

Affiong Williams Entrepreneur Services

58,004 13,368 71,371

55,450

Tshikululu- DRA STATEMENT OF INCOME & EXPENSES

+ Excelerator Entrepreneurs

REVENUES

Endeavor South Africa's Excelerator Program targets entrepreneurs from historically disadvantaged backgrounds that have High-Impact potential, but as of yet do not meet Endeavor's HIgh-Impact criteria.

Donations & grants Interest income Other Income Total Revenues

757,997 400 15,241 773,638

EXPENSES Administration costs Selling & distribution costs Staff costs Interest

204,914 14,294 523,851 492

Total Expenses

743,552

Financial Expenses (Income) NET INCOME (DEFICIT)

9,131 39,218

At the time of the printing of this report, Deliotte SA were completing their regular, scheduled review of Endeavor South Africa’s FY2009 statements. For a copy of the finalized audit, please send a written request to: Endeavor Entrepreneurship Institute, Woodlands Office Park, Building 14, Ist Floor, Woodmead 2199, P.O Box 1768, Gallo Manor 2052, Woodmead, Sandton, South Africa

Endeavor Impact Report 2009—2010

Turkey ENTREPRENEURS

Cem Nufusi yemeksepeti.com

Staff

PARTNERS

Bülent Çelebi AirTies

Melih Ödemiş yemeksepeti.com

Didem Altop Managing Director

Vuslat Doğan Sabancı

Ahmet Duyar Artesis

Mehmet Aksel MSA

Melih Abuaf Search & Selection

Kauffman Foundation

Özer Hıncal Arvento

Didem Altınbaşak Tulgan Rafinera

Büke Çuhadar Communications & Projects

Limak Holding

Bedriye Hülya b-fit

Aslı Caner Youtholding

Melisa Fakabasmaz Özerdim Finance & Operations

Ambassador Hotel Ankara

Kerem Erdem Bizitek

Emrah Kaya Youtholding

Hasan Fidan Office Support

MIT Sloan Executive Fellows

Murat Şahinoğlu Bizitek

Ebru Çerezci Hiref

Eran Filiba Search & Selection

British Council

Emre Mermer Dükkan İstanbul

Güvenç Kılıç Hiref

Ceylan Hünal Communications & Projects

Tahincioğlu Holding

İzzet Bonofiyel Monopoli Sigorta

Alemşah Öztürk 41?29!

Aslı Kurul Türkmen Search & Services

CitiGroup Stanford University

Istanbul Technical University Ministry of Education Özyeğin University Carlo Bernardini Marmara University

Erol Esentürk Monopoli Sigorta

Koç University

Semih Yüzen Petfor

Sabancı University

PWC Turkey Bahçeşehir University

Başar Akpınar PIWorks Bahadır Kuru PIWorks Fatih Işbecer Pozitron Ali Özgün Speedcity

Endeavor Main Office Istanbul

Ahmet Özgün Speedcity Canan Özgün Speedcity Şebnem Karasu SteamLab Tania Eskinazi Gürüşçü Takawear Damla Gönül Turkmix Elda Maraşlı Turkmix

TR

Aydın Şeker Turkmix Nevzat Aydın yemeksepeti.com

52

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION Boğaziçi University NewBridge Fiba Group Swiss Hotel Cnbc-e Emory University Otokoç Budget Turkey Türkmedya Group TBWA İstanbul JCI TUGİAD Turkcell TOBB GGK Işık University Dinamo Fm Patika Yapım Power Fm Innovation Team Genç Başarı Boğaziçi Üniversitesi Mezunlar Derneği Elginkan Vakfı LabX MG Danışmanlık Yıldız Teknik University Düzce University Istanbul Bilgi University

US$

ASSETS

> In 2009, the average revenue growth rate of Endeavor Entrepreneurs in Turkey was 30%, while Turkey's GDP decreased by 4.7%.

Current Assets Cash & Cash Equivalents Marketable Securities Trade Receivables Other Receivables Accrued Income Other Current Assets Total Current Assets

47,479 216 3,963 1,217 46,936 11,396 111,206

Long-Term Assets Fixed Assets Intangible Assets Prepaid Expenses Total Fixed Assets

14,815 18,722 344 33,882

Total Assets

145,088

LIABILITIES & NET ASSETS Current Liabilities Trade Payables Other Liabilities Advances Received Taxes Payable & Fiscal Liabilities Total Current Liabilities Prior Year Net Assets 2009 Change in Net Assets Total Net Assets

(214,525) 259,829 45,304

Total Liabilities & Net Assets

145,088

STATEMENT OF INCOME & EXPENSES REVENUES

Gelecekdahanet

Event Fees Membership Dues Board Contributions

Vodafone Turkey

Total Revenues

IDE Planet

8,995 31,276 3,991 55,522 99,784

166,474 104,025 754,025 1,024,524

Max Fm invest.gov.tr

OPERATING EXPENSES

Kariyer.net

Search & Selection Related Expenses General Administrative Expenses Total Operating Expenses

MPR ISI Emerging Markets

Non-Operating Income (Loss) Extraordinary Income (Loss) NET INCOME

461,194 303,678 764,873 (1,232) 28 258,447

A complete set of the audited financial statements by Birleşik Uzmanlar YMM A.S. for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Büyükdere Cad. Noramin İş Merkezi No 55 Kat:3 Daire 301 Maslak Istanbul, Turkiye

Endeavor Impact Report 2009—2010

Uruguay ENTREPRENEURS

Roni Lieberman Memory

Staff

PARTNERS

María Noel Ache AIVA TPA

Andrés Rosenblatt METROPOLIS films

Laura Raffo Managing Director

Gabriel Rozman Tata Consultancy Services

Federico Cella AIVA TPA

Adolfo Villalba Montreal

Margarita Mangino Entrepreneur Services

Horacio Correge Banco Comercial

Julio Cantera Assist

Cecilia Casulo Montreal

Luciana Lapachián Marketing & Communications

IDB

Fernando Cammarota CEPA

Pablo Elenter RobTec

Lee Martínez Institutional Development

José Rubinstein Districomp

Ariel Lijtenstein RobTec

Ana Paula Carrero Search & Selection

Jean Shaw Sabre

Daniel Steiner Districomp

Sergio Oberlander RobTec

Alejandro Caravia Entrepreneur Services

Roberto Villamil Uruguay XXI

Gabriel Colla Infocorp

Raúl Polakof Scanntech

Anna Chiara Ortolani Entrepreneur Services

Gabriel Fernández Laboratorios CLAUSEN

Ernesto Elenter SEG Ingenieria

Verónica Méndez Office Coordinator

Leonardo Olivera Laboratorios CLAUSEN

Diego Garfinkel SEG Ingenieria

Anne Rodríguez Entrepreneur Services

Michel Cohen Lolita

Fernando Schaich SEG Ingenieria

Federico Cella Lynkos

Francisco Gross Seinco

Javier Beathyate Magma

Manuel Cabanelas STATUM

Gabriel Schimmel Medea

Álvaro Lozano STATUM Sebastián Schickendantz STATUM Pablo Milburn Urunet

Raúl Mandía McDonald's - Arcos Dorados Programa Emprender

> In 2009, the annual revenue of Endeavor Entrepreneurs represented 0.6% of Uruguay’s gross domestic product.

Álvaro Domínguez Top Systems

Endeavor Main Office Montevideo

UY

54

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION

“While Uruguay is a small country, Endeavor's impact has been huge.

Over 10 years, our entrepreneurs have created revenues of 600 million dollars, possibly the largest impact any non-commercial organization has achieved. Wait for the results in the next 10 years!”

US$

ASSETS Current Assets Cash & Cash Equivalents Accounts Receivable Other Assets Total Current Assets Fixed Assets

70,867 14,060 1,130 86,057 6,681

Total Assets

92,737

LIABILITIES & NET BOOK WORTH Other Payables Total Liabilities

34,965 34,965

Net worth adjustments (conversions) Net Worth at the Beginning of the Year Net Income

(2,438) 51,354 8,857

Net Worth

57,773

Total Liabilities & Net Book Worth

92,737

STATEMENT OF INCOME & EXPENSES REVENUES Contributions Event Income

316,807 161,505

Total Revenues

478,312

EXPENSES Events Search & Selection Promesas International Programs Entrepreneur Services Administrative Expenses Depreciation Expense Marketing Expenses

109,358 25,171 43,640 41,741 63,538 149,725 3,699 33,868

Total Expenses

470,741

Financial Expenses (income)

(1,285)

NET INCOME

18,857

A complete set of the audited financial statements by Deloitte & Touche for the fiscal year ending December 31, 2009 can be obtained by sending a written request to: Endeavor Uruguay, Rincón 518 entrepiso, Montevideo 11.000, Uruguay

Gabriel Rozman TATA Consultancy Services Executive Vice-President Endeavor Uruguay Board Chairman Endeavor Impact Report 2009—2010

Global “Endeavor is one network globally and comprised of the brightest minds and richest human capital.�

Staff

Allison Berliner Search & Selection

Linda Rottenberg Co-Founder & CEO

Katherine Bleich Executive Assistant to the CEO

Lawrence Brooks VP, Finance & Administration

Gerardo Cervantes Affiliate Services

David Geary SVP, Entrepreneur Services, Partners & Networks

Frankie Dillard Personal Assistant to the CEO

Carlos Pessoa VP, Affiliate Services David Wachtel SVP, Marketing, Communications & Research Canem Arkan Entrepreneur & Partner Services Ali Ayala Administration Elmira Bayrasli Policy & Outreach

Peter Kellner Richmond Management Founder & Managing Partner Endeavor Co-founder Endeavor Global Board Member

Justin Belmont Marketing & Outreach

Quinn Fitzgerald Entrepreneur & Partner Services Jean-Claude Homawoo Entrepreneur & Partner Services Diana Gomez International Expansion Katie Gordon Entrepreneur & Partner Services Joanna Harries International Expansion Soribel Holguin de Valverde Former Executive Assistant to the CEO

Endeavor Global Offices San Francisco New York

56

Network & Financials

Financials

(December 31, 2009 )

STATEMENT OF FINANCIAL POSITION Cindy Ko International Expansion

PARTNERS

Maggie Krummel Search & Selection

Citigroup

Yuting Bev Lien Search & Selection

Ernst & Young

Dell

Joel Montgomery International Expansion

Inter-American Development Bank / The Multilateral Investment Fund (IDB/MIF)

Ethan Montoya Search & Selection

Michael & Susan Dell Foundation

Rhett Morris Center for High-Impact Entrepreneurship (C-HIE)

Omidyar Network

Peter Olivier Search & Selection

Salesforce.com

SAP

Yamile Nesrala Entrepreneur & Partner Services

US$

ASSETS Cash and cash equivalents Investments Contributions receivable Grants receivable Prepaid expenses & other assets Fixed assets, net

9,495,007 3,625 96,051 1,462,246 117,205 257,965

Total Assets

11,432,099

LIABILITIES AND NET ASSETS Liabilities Accounts payable and other accrued liabilities Due to affiliated entities Deferred rent & capital lease obligations Total Liabilities Net Assets Unrestricted Temporarily restricted Permanently restricted

Rebecca Plofker Marketing & Development Allen Taylor Global Networks

184,197 216,694 49,940 450,831 9,539,272 1,416,996 25,000

Total Net Assets

10,981,268

Total Liabilities & Net Assets

11,432,099

Alexandre Thome Affiliate Services Daniela Terminel Entrepreneur & Partner Services Shaun Young Center for High-Impact Entrepreneurship (C-HIE)

COMBINED STATEMENT OF ACTIVITIES

Unrestricted

REVENUES Contributions Grants (net discounts) Net realized gain (loss) on investments Interest & other income In-kind revenue Net assets released from restriction Total Revenues

Temporarily Restricted

2,776,165 2,761,742 101 61,135 153,148 1,012,945

(1,012,945)

6,765,236

(452,945)

Permenantly Restricted

Total

2,776,165 3,321,742 101 61,135 153,148 0

560,000

0

6,312,291

0

841,238 481,460 831,809 321,239 854,205 198,281 661,141 604,796 4,794,169

EXPENSES Search & Selection eMBA Entrepreneur Services EndeavorNet Affiliate Operations Center for High Impact Entrepreneurship New Country Expansion Philanthropic Networks Total program expenses A complete set of the audited financial statements by McGladrey and Pullen for the fiscal year ending December 31, 2009 can be obtained by sending a written request to Endeavor Global, Inc. at 900 Broadway suite 301, New York, New York 10003, USA

Management and general Fundraising and development Total Expenses Change in net assets Net assets, beginning of year NET ASSETS, END OF YEAR

841,238 481,460 831,809 321,239 854,205 198,281 661,141 604,796 4,794,169

0

345,351 639,262

345,351 639,262

5,778,782

0

0

5,778,782

986,454 8,552,818

(452,945) 1,869,941

0 25,000

533,509 10,447,759

9,539,272

1,416,996

25,000

10,981,268

Endeavor Impact Report 2009—2010

“One of the greatest challenges entrepreneurs face is the fear of failure.

The key to overcoming it is recognizing that every experience brings with it an opportunity to learn.�

Pierre Omidyar eBay, Founder & Chairman Omidyar Network, Founding Partner 58

Contributors & Board

CONTRIBUTORS' &'BOARD.

High-Impact Donors

1997—2010

1,000,000 +

500,000 +

250,000 +

AVINA Clarissa & Edgar Bronfman, Jr. Fundação Brava Inc Inter-American Development Bank International Finance Corporation (IFC) Peter Kellner Michael & Susan Dell Foundation Omidyar Network

Banco Santander Beim, Nicholas F. Citi Foundation Cline, Michael J. Elsztain, Eduardo Ernst & Young Fribourg, Paul Kellner, George & Bicky Klein, Beth and Michael Mai, Anne & Vincent Sawiris, Naguib SEBRAE Sebrae São Paulo Secretaría de Economía (Mexico) Seelig, Chip Slim, Tony & Carlos Staton, Woods Zambrano, Lorenzo

Ackman, William A. AFP HABITAT Ann L. Bronfman Foundation Aspe, Pedro Azcárraga Jean, Emilio Babaoğlu, Mehmet Ali Banco ABN AMRO Real S.A. Banco Itau BBA S.A. Blavatnik, Len Cababie, Elias Casares, Wences Cetus Investimentos Citi Corporación Andina de Fomento (CAF) Cueto, Enrique del Río, José Luis Dell Computer Diller, Barry Doğan Sabanci, Vuslat Douer, Albert Draper, Melissa & Timothy Echavarría, Andres Goldman, Sachs & Co. Gore, Adrian Hitay, Emin

Koç, Ali Lee Thomas H. & Ann Tenebaum Lehman Brothers Lemann, Jorge Paulo Microsoft Corporation Morgan Stanley Nahas, Fadi Narvaez, Francisco De News Corporation Odebrecht S.A. Oppenheimer, Jennifer & Jonathan Özyeğin, Murat Pacheco, Eduardo Proteus Soluções em Segurança da Informação S/A Sabancı Dinçer, Suzan Said, Salvador Saieh, Alvaro Santo Domingo, Alejandro SAP Simpson Thacher & Bartlett Swette, Brian Tahincioğlu, Özcan von Appen, Sven

$1=$286 EVERY $1 DONATED TO ENDEAVOR IN 2009 HELPED SUPPORT ENDEAVOR ENTREPRENEURS TO GENERATE $286 IN REVENUES

$1 Analysis based on Total Endeavor WW budget in 2009 ($12.2), incremental revenue growth of Endeavor Entrepreneurs in 2009 ($480M), and total EE revenues of $3.5Bn.

60

Contributors & Board

Donors 2009 100,000 + ABDI AFP Habitat Emilio Azcárraga Jean Televisa

Banco ABN AMRO Real S.A. Banco Santander Beim, Nicholas F. Bronfman, Clarissa & Edgar Jr. Cetus Investimentos Citibank Construtora Norberto Dell Computer Draper, Melissa & Timothy

Credit Suisse Argentina S.R.L CSC Holdings, Inc. Cueto, Enrique DBM do Brasil Ltda Darwazah, Said del Río, José Luis Diller, Barry IAC InterActive Corp Diller-Von Furstenberg Family Foundation

Doğan Sabancı, Vuslat Hürriyet

El-Nazer, Hythem Eduardo Elsztain

The Draper Foundation

Fundación IRSA

Enterprise Development Activities Ernst & Young Instituto Semeia Inter-American Development Bank

Errázuriz Grez, Jorge Fleury S.A. Fribourg, Paul Ghandour, Fadi Goldman, Sachs & Co. Harbin Participações Hitay, Emin

The Multilateral Investment Fund (IDB / MIF)

Jonathan M. Nelson Family Foundation Kellner, Peter Mai, Vincent AEA Investors

Michael & Susan Dell Foundation Omidyar Network Passos, Pedro Proteus Soluções em Segurança da Informação S/A Rees, Joanna & John Hamm Saban Family Foundation Sawiris, Naguib SEBRAE Swette, Brian Swette Family Foundation

50,000 + Ackman, William A. Adrian Gore Discovery Holdings

Al-Husry, Ali Ann L. Bronfman Foundation Arab African International Bank Banco Itau BBA S.A. Banco Pactual Bassily, Elijah BID Programa Emprender

Construtora Norberto CORFO Chilean Economic Development Agency

Hitay Yatırım Holding A.Ş.

Jennifer Oppenheimer Oppenheimer & Sons

Klein, Beth & Michael Koç, Ali KOÇ Holding

Luksic, Jean Paul Mansour, Tarek Nahas, Fadi Naplus

Odebrecht S.A. Özyeğin, Murat Fiba Holding

Sabancı Dinçer, Suzan

“Endeavor has done a really great job in identifying entrepreneurs around the world, who have great ideas but maybe don’t have all the access to the opportunities to make them happen.”

Akbank

Said, Salvador Saieh, Soledad Santa Lucia Adm. De bens e Participações Ltda Schiess, Christoph Seelig, Chip Robin Brown and Charles Seelig Foundation

Simpson Thacher & Bartlett Tahincioğlu, Özcan Tahincioğlu Holding

von Appen, Sven

Michael Dell Dell Chairman & CEO Endeavor Impact Report 2009—2010

Donors 2009 10,000 + Ache, María Noel & Cella, Federico

Finvarb, Salomon

AIVA

First National Bank (FNB) Founder Collective LP Freire, Andrés

Ariel Aisiks GEO Capital Holdings

Alice & Thomas Tisch Foundation Banco de Investimentos Banco Modal SA Barbosa, Fabio Banco Santander

Barry, Nicolás Gemelo Storage Solutions

Beleza Natural Berchesi, Juan Isbel

Best Buy Co, Inc. Bichara, Khaled Black, Leon Bolsa de Valores de Colombia Bresnan Communications Brown, Matthew BS Construtora Cappello, Juan Pablo Carlos Fernandez Carmona, Rolando Drillco Tools

Casares, Wences Çelebi, Bülent Airties

Celia, Antonio Fundacion Promigas

Cerisola, Andrés Ferrerre

Cisco Citi Cline, Michael J. Comerciliazadora Eloro SA Conservas La Costeña SA de CV Correge, Horacio Banco Comercial

Creamer, Glenn & Mary Jane Crivo Sistemas em Informática S/C Ltda Dell, Adam Diagnostika Doc Solutions de Mexico SA de CV Douer, Albert

Empacor SA

Axialent

Friis, Janus Fundacion Bavaria Fundacion Bepensa AC Fundacion Universidad de las Americas de Puebla Galperín, Marcos & Hernán Kazah Mercado Libre

Gorodisch, Alejandro GP Investimentos S.A. Graber, Peter Green, Jason Grubman Indursky, P.C. Gutiérrez, José Ramón Hall, Taddy Herrmann Telles, Marcel Imagen Dental Integration Consultoria Empresarial Ltda Intendencia de Comodoro Rivadavia (Provincia de Chubut) Iris Dempsey First National Bank

Ixe Banco SA Institucion de Banca Multiple Ixe Grupo Financiero John A. Griffin Foundation JP Morgan Keçeci Aşur, Işık

Vialux Vieira, Rezende, Barbosa e Guerreiro Advogados Visa (Credibanco Colombia) W.Torre Warner Bros.

Weil, Gotshal & Manages LLP Zennstrom, Niklas

AGM Partners LLC

Limak Holding

Pacheco, Eduardo Mercantil Colpatria Salud Colpatria Mineros SA

Pfeffer, Ariel Trillonario

Pi Works Poit Energia Ltda Polo Ralph Lauren Prática Produtos Ltda PriceWaterhouseCoopers Programa Emprender/BID ProsperAr Robbins, Amy Nduna Foundation

Rozman, Gabriel Tata Consultancy Services

Levin Capital Strategies, LP

SAP Say, Mustafa

Loews Foundation Lojas Renner Lorentzen, Haakon Mandía, Raúl - Méndez, Ricardo

Echavarría, Andres

Marc Haas Foundation Mastermaq Informática Ltda.

Mckinsey & Company, Inc. Mermer, Emre

62

StandardUnlu

Morgan Stanley MV Informatica Nordeste Natura News Corporation Nextel Nokia do Brasil Tecnologia Ltda Open Society Institute Operadora de Servicio Mega SA de CV SOFOM ENR Özdemir, Ebru

Mnuchin, Alan

Kellner, George & Bicky Klibra Agenciamento de Marcas e Negócios S/C Ltda Larissa Empreendimentos Imobiliários Ltda.

Lee Thomas H. & Ann Tenebaum Lemann, Jorge Paulo Levin, John

McDonald's - Arcos Dorados

Elseviere editora ltda Embratel European Journalism Centre Ewing Marion Kauffman Foundation

Young & Rubicam

Globant

Aragon Capital

Ajover Sodimac Colombia Org. Corona SA

Moré, Álvaro

Tecnoblu Ind. Com. Imp. Exp. Ltda Totvs SA Triple A Artes Gráficas Universal City Studios Univision Mgmt Company Ünlü, Mahmut

Migoya Martín, Englebienne Guibert, Umaran Martín & Nocetti Nestor

Dukkan Istanbul

Ryan, Kevin Saguier, Luis La Nación

Salem Foundation Sales Sarrapy, Carlos Santo Domingo, Alejandro Caracol TV, Invernac, Valorem

Access Turkey

Shaw, Jean Sabre

Sollos Assessoria Staton, Woods Mc Donalds

Stringer, Sir Howard Sony Corporation of America

Szekasy, Nicolás Tecno Logys Sistemas para Construção Ltda

Contributors & Board

1,000 + Acento Mexicano Açıkalın, Faik

Ayaydın, Yalçın Ayaydın-Miroglio Group

Yapı Kredi Bankası

Aytekin, Haluk

Advent Do Brasil Afra, Sina

G Tech

Markafoni

Aytemiz, Hilal Aytemizler Şirketler Grubu

Akarlılar, Ersin

Azevedo, Rodrigo B2U Editora Babaoğlu, Mehmet Ali

Mavi Jeans, Inc.

Füsun Tasarım ve Pazarlama

Akçakayalıoğlu, Zeynep

Baez, Victor Eduardo Balbo, Susana

Ak, Vural Intercity Ekim Turizm

Royal Yönetim Danışmanlığı

Akçaoğlu, Serra Citigroup

Akgerman, Bülent AKG Yatılım

Aksoy, Banu Turcas Petrol

Alemdar, Ziya ProAd Media Solutions

Alibio All Allis S/A Amram, Leon Artemis Gıda

Ananías, Alvaro & Dibán, Gustavo Genesys

Andrioli, Darío Carle & Andrioli

Angelus Indústria de Produtos Odontológicos S/A ANII APPI Aramburuzabala Larregui, Maria Asuncion

Aravena, Manuel & Salas, Juan Pablo

Dominio del Plata

Banco Santander Rio Banco Sofisa Bancoldex SA Bancolombia SA Barclay, Kathleen Barra, Mario Vates

Barton, Greg & Applewhite, Jay Business News Americas

Bartunek, Florian Barut, Nezih Abdi İbrahim İlaç San. Ve Tic. A.Ş.

Başaran-Symes, Cansen PriceWaterhouseCoopers Turkey

Bassi, German Pugliese Bato Amigo Bayar, Selin Pekin & Bayar Law Firm

Bayar, Uğur Credit Suisse Securities

Baydar, Cem IMS

Ascon

Beathyate, Javier

Araya Rivas, Mario

Magma

Kibernum

Arccanto Consultoria Arıkoğlu, Damar Turbomach Endüstriyel Gaz Türbinleri

Arıoğlu, Başar Yapı Merkezi

Armagan, Mehmet Arca Tekstil

Arroz con Leche Aspen Grove Foundation Atakaş, Gökçe Atakaş Dış Ticaret

Atay, Mehmet Atay Holding

Augusto, Fernando Awad, Jorge

Becerra, Jorge Bedoya, Claudio BioScience

Bencorp S.A. Bener, Erim Bener Law Firm

Bernardini, Carlo Bernardini Organizasyon

Bethlem, Mario Bianchi, André Bierly, Christopher Bilgi Zapparoli, Elif EFG Istanbul Securities

Binark, Murat A. Garanti Koza

BodyTech

Bom Appetite de Cuernavaca SA de CV Borges, Alexandre Boronig, Erwin Bórquez, Víctor

Comunique-se Correa, Carmen

Max Service

Coşkunoğlu Nazlıaka, Aylin

Boyacıgiller, Ziya

Human Resources Management

Sabancı Üniversitesi

Costa, Edivan Crespi, Gonzalo

AVINA

Cortés, Christian Corbac

Bratz, Valmor Adek Brause, Virginia

Bauen Arquitectura

Cybertécnica Daccarett, Daniel

Jiménez de Aréchaga, Viana & Brause

Brenner, Pablo

Producto Protegido

Prosperitas Capital Partner

Dávila, Gabriela de la Barra, Jaime de las Carreras, Fernando

Büchi, Marcos Cabi Inver SA de CV Çakmak, Mesut

Nervous Water

Çakmak Law Firm

De Lima, José Antonio Decagon Devices Deldağ, Can

Cammarota, Fernando CEPA

Cantera, Julio

Carlyle Mena Investment Advisors LLC İrtibat Bürosu

Assist Learning Team

Carey, Guillermo Cariola, María Gracia Carriquiry, Daniel

Delta Construções Deniz, Türkmen Teknort

Costa Oriental

Casulo, Cecilia & Villalba, Adolfo Montreal

Nueva Central Argentino

KVK

Dinçbaş, Osman

CBL Companhia Çelebi, Bülent

Ernst & Young Türkiye

Airties

Cenedella, Marc TheLadders.Com, Inc.

Centro de Inter Servicios SA de CV CGS Engenharia Chepiga, Michael Chilim Balam SA de CV Cid, Pablo Gonzalez Cılız, Kemal Infonet Bilgi Teknolojileri

Citi Cizreli, Gamze Big Chefs Cafe-Brasserie

Cmos Drake Do Nordeste Cohen, Michel Lolita

Çolakoğlu, Haydar TEB Mali Yatirimlar

Coleman, Mark Colla, Gabriel Infocorp

COMPSIS Ind. e Com. Ltda

Drum

Diaz Hermelo, Horacio

Çavusoğlu, Bülent

Café Punto Del Cielo

Dereli, Zeynep

Diniz, Ana María Diwan DMHR Domínguez, Álvaro Top Systems

Donoso, Javier Geomar

Dördüncü, Ahmet Hacı Ömer Sabancı Holding

Duran, Vanesa Ecoflora Educacion Superior Celaya AC Edwards del Río, Agustín Egeli, Tan Egeli & Co

Ejder, Bülent KPMG

Elden, Serkan Pinebridge Investments (Turkey) Istanbul Liaison Office

Elenter, Ernesto & Garfinkel, Diego & Schaich, Fernando SEG Ingeniería

Elenter, Pablo & Lijtenstein,

Endeavor Impact Report 2009—2010

Donors 2009 1,000 + continued Karabeyoğlu, Kayrıl

Loizeau, Tito

Advent International

Promored

Elgiz, Ayda

Gobierno de la Ciudad de Buenos Aires Göğüş, Çağlar

Karaçam, Burhan

López, Sergio

Giz İnşaat Yatırım

Peppers & Rogers

Burhan Karaçam Partnership

Proactiveoffice

Eren, Ahmet

Göktan, Kerem

Karamancı, Eda

Manzini, Livio

Eren Holding

Su Private Equity Management

Karamancı Holding

Bell Holding

Eren, T. Ufuk

Goldemberg, Arnaldo Gomez, Diana

Karamancı, Fatih

Máquina da Notícia S/C Ltda Mascarenhas, Rodrigo MBA Empresarial McIntire, John C. McPherson, Julie & Valdés, Felipe

Ariel & Oberlander, Sergio Robtec

Siemens

Erkut, Erhan Özyeğin University

Escola 24 Horas Espinosa, Daniel Grupo Empresarial Espinosa SA de CV

Esquiera, Alicia Secom

Eugenio, Arnold Evans, Alexander D. Evliyagil, Sarp Ajanstürk

Eyzaguirre, Cristián Farca, Ezequiel Farmacia Telefonica SA de CV Fernández, Gabriel & Olivera, Leonardo

MEMO

Goóc Grekin, Max

Koçer, İlker Oracle Turkey

Seinco

Köksal Alçıcı, Ebru

Grupo Cherto Grupo Ibmec Grupo Marti SAB Güçlü, Ayşe

Galatasaray Sportif

Egon Zehnder International

Gümüştekin, Tulu Corporate & Public Strategy Advisory Group (CPS)

Gürel, Noyan Sunel

Güven, Görkem Hittite Microwave Corp. Türkiye

Habib, Cavit

Tensocable

ISS Tesis Yönetim Hizmetleri

Figueiredo, Andre Fincomun Servicios Financieros Comunitarios SA de CV Flybridge Capital Partners Fomento Economico de Chiapas AC Francesca Romana Diana Frasca, Gonzalo & Battegazzore, Sofía

Halm, Alfredo Quanam

Hamermesh, Richard Hantel Haşemoğlu, Barış Haşemoğlu İnşaat

Hobson, Mellody Ariel Investments, LLC

Homriş, Onurhan

Powerful Robot Games

MV Holding

Fuks, Patricio & Frenkel Alejandro

Hurtado, Felipe & Swett, Juan Pablo

Grupo Fën

Trabajando.com

G2 Consultores Gandur, Cemil

İl, İlhan

Cines Hoyts

Gencer, Hasip UNO (Unmas Unlu Mamüller)

Gençler, Gürkan Beyaz Filo Oto Kiralama

George Wasserman Family Foundation Gerez, Jorge MP Medicina Personalizada

Ginsberg, David Giovanini, Renato

Tepe Emlak Yatırım

Impuestum Contadores SA de CV Intelego Corporativa SA de CV Intervir Tecnologia Jansen, Flávio Benício Jaras, Isabella & Patricio Nutra Bien

Kolbaşı, Murat Arzum Elektrikli Ev Aletleri

Korn Ferry Internacional SA de CV Kotan, Kerim Pragma Corporate Finance

KPX Serviços e Participações Limitadas Küçükel, Nüket Güven Hastanesi

Kumova, Altunç Destek Finans Faktoring

Kurdoğlu, Korhan ATA Holding

L' Atelier Du Chocolat SA de CV Lacerda Guimaraes, Dorian Lan Designers Landi, Rafael Luis LapDesk Larosa, Alejandro FYO

Latin Idea Advisors LLC Latitude Gestao e Finanças Lazam Lecaros, Juan Francisco Leonali S de RL de CV Leonard & Evelyn Lauder Foundation Levi Coşkun, İzel Mazars Denge SMMM Hizmetleri A.Ş.

Lieberman, Roni Memory

Lightcom SA de CV Lingham, Vinny

Tiaxa

Meetic Mendes Carvalho, João Mendez, Martín Neoris

Mextra Engenharia Ltda Meyer, Ronald Meynial, Patrick Milburn, Pablo Urunet (The Datamyne)

Milliman Do Brasil Mimaroğlu, Emre Credit Suisse

MJM PEP Management Services, Inc Miynarz, Geraldine & Sandino, Ana María Diagnotec

Montes de Oca, Rodolfo & Miranda Patricio Zott Producciones

Morin Assessoria Empresarial Morin, Patrick Movile Mueller, Gary Multieco Tecnologia Musalem, José Miguel MV Informatica Nordeste Ltda Natalie Killassy Stitch Wise

Naturalia Nazar, Gabriel Cardón Cosas Nuestras

Nazer, Jorge ALTO

Jorge, Vidal

Lisim Mexico S de RL de CV Litmanovich, Mario

Nefrocare Administradora de Hospitais e Clínicas Nicora, Luciano

Semm

Drogueria 20 de Junio

Viramonte & Nicora

Karaağaç, Alp

Llobet, Eduardo

Bilfar Holding

Berkley Internacional Seguros

Karabey, Erem

Loehnert, Roberto

Novoa, Eduardo Olcay, Turgay

Jodal, Nicolás Artech

Polikim Polimer Ve Kimya Sanayi

64

Koç Holding

Gross, Francisco

Fienkelstajn, Jorge

Garfinkel, Pablo

Kimberlit Koç, Mustafa V.

SKM Seaprende

Laboratorios Clausen

Lotus Shipping Agencies

Karamancı Holding

Yola

Dek-Art İnşaat

Ollin Studio

Contributors & Board

O'Neill, Patricia Metropolitan Life

Óptima Energía Orakçıoğlu, Süleyman Nazif Orka Tekstil

O-Think Soluções Empresariais Özkan, Mehtap Mae Golden Horn Ventures

Özkök, Münir Midas Hediyelik Eşya

Öztiryaki, Atakan Öztiryakiler Madeni Eşya

Pabisan SA de CV Pacheco, Jorge Oxxean

Pacific Investimientos Paccot, Olivier & Yorston, Michael Woodtech

Riba, Lidia Maria & Vergara, Trinidad

Simbaqueba, Lilian

V&R Editoras

Solans, Roberto

RHS Franchising Richardson, Julie RLG Corretora de Seguros Rocca, Marilia Rohde, Christine & Douglas Rosen, Jeffrey Rosenblatt, Andrés Metrópolis Films

Rosental, Miguel Rosental Management Group

Rouillon, Adolfo Congelados del Sur

Rovner, Abishai Bercia

Paker, Can

Rubinstein, José & Steiner, Daniel

Bilgi Odaklı Yönetim Hizmetleri

Districomp

Pekuysal, Ayşe Rengin

Sabormex SA de CV Sabre Safadi, Samir & Cibils, Julie

Varan Turizm Seyahat

People Domus Perez, José Fernando Perkins Cole Perlman, Marco José Piacentini, Diego Pigatto Transporte Super Expresso Pinto Duarte, Marcelo Pipeway Engenharia Ltda Pixel Software Ltda.

Poit, Wilson Polakof, Raúl

Langland Language Institute

Sağışman, Tahsin Rabobank International Turkey Istanbul Representative Office

Saieh, Alvaro Sampedro Miguel ex Patagonia Natural Products

Sanchez Sarmiento, Sebastián Sarıoğlu, Berna Teknomak Makina

Saul, Alp

Scanntech

Pronet Güvenlik Hizmetleri

Pozitron PPR Profissionais de Publicidade Reunidos Ltda Procesa Chiapas Promotora de Proyectos SA Propay Brasil Ltda Pugliese Advogados Pugliese, Germán & Santos, Miguel

Scannavino, Fabio Schickendantz, Sebastián; Cabanelas, Manuel & Lozano, Álvaro

Technisys

Quang Nghia, Thai Quarksoft SA de CV Rabat, Juan Carlos Fues 21

Ramos, Donato Rava Esportes e Entretenimento Ltda Refinancia Reginato, André República AFAP

Statum

Schimmel, Gabriel Medea

Schwartz Family Foundation SEAF Colombia Segal, Susan Şengör, M. Cem Step Halılıcık

Sentient Flight Group Serna, Jorge Conrad

Servicios Administrativos Mexis SA de CV

Servicios Axo SA de CV Shiang, Willian Silva, Yuhber Ta-Ta

Unicar Plastico SA de CV Universidad Católica Ünsal, Osman

LISIM Hoteles Solans

Esas Holding

Sönmezer, Tanyer

Varela, Enrique

Management Centre Türkiye

Nestlé del Uruguay S.A.

Sotomayor, Raúl Soyak, Erkut

Varese, Daniel Citi

Soyak Holding

Varsavsky, Martín Vaz Rodrigues, Mauricio Veirano Advogados Vella Buosi Advogados Veuve Clicquot Vidrios Marte SA de CV Vitrogen Voltes, Damián von Baer, Karina

Sportium Stemerman, David Stillings, Jim Stoneman Family Foundation Suarez Battan, Mariano & Jutard Patricio Three Melons

Subway Link Suminter Super Bac Proteção Ambiental Ltda Taha, Shwan

Oleotop

Wener Wolf, Luiz Roberto Werlang, Sérgio Wolf, Esteban

Melak Yatırım

Progen

Talent Propaganda Talento Ejecutivo de Oriente SA de CV Taracena, Heberto

Yalçın, Neşet Yaltem Temsilcilik Savunma Araçları Temin A.Ş.

Yamamura, Dan Yenigün, Aygen

Metros Cubicos SA de CV

Taviloğlu, Mustafa

Agm Stratejik Çözümler A.Ş.

Mudo

Yilmaz, Ilhan

TCS Solution Center Tech4B Tecnica Tecsis Tecnologia e Sistemas Avançados Ltda Templeton Tequila Milagro TFGC Mexico SA de CV The Boston Consulting Group of Mexico SA de CV Thai, Natalina Maria The Good Night Foundation Thomas J. Gahan Family Foundation Topçuoğlu, M.Cem

Galatasaray Üniversitesi

Young And Rubicams S de RL de CV Yurdum, Aydın AVM MFI Partners

Yürekli Şengör, Ayşegül Yürekli Eğitim Ve Danışmanlık

Zorzato, Fatima Zubillaga, Alejandro

TBWA Istanbul

Toptel S de RL de CV Tred Foods Trueh Consultoria Ugarte, José Manuel Uğur, Agah Borusan Holding

Ulusoy, Alican Ulusoy Uluslararası Yatırım Holding

Umbria Participações S.A

Endeavor Impact Report 2009—2010

Donors In-Kind

2009

100,000 +

Ernst & Young Groupo ABC Organizações Globo Warner Music Group Argentina VentureCorps Brazil VentureCorps Chile VentureCorps Colombia VentureCorps Egypt VentureCorps Jordan VentureCorps Mexico VentureCorps South Africa VentureCorps Turkey VentureCorps Uruguay VentureCorps

Tahincioğlu, Özcan Tahincioğlu Holding

The Boston Consulting Group Topçuoğlu, Cem

Maturana, Fernanda & Pablo

CINUR

Bolsas Reutizables

Gana, Alberto & Howard, Felipe

Young & Rubicam Uruguay

Café Punta del Cielo

Oropeza, Guillermo & Gabriel

602 Marketing Alfaro, Marisol

The Gordon Institute Of Business Science Gringaus, Ariel & Barros, José Manuel

Doc Solutions

L´Atelier du chocolar

Asociación Civil de Estudio Superiores Parque Austral

Bahçeşehir University Bilinkis, Santiago

Araucanía Yarns

Bórquez, Víctor Max Service

Brause, Virginia Jiménez de Aréchaga, Viana & Brause

Braver Caviglia, Marian De la cocina

Citricox Daccarett, Daniel

Latitud90

Garfinkel, Pablo

Colegium

Herrera, Nicolás Guyer & Regules

Helicopter, LLC HIREF Infoxel Işik University Jaras, Isabella & Patricio Nutra Bien

Jordan, Rodrigo

Koç Holding

Kolay İletişim La Grutta, Miguel Angel Untracongelados

Lamé, Álvaro López, Sergio Intelliholding

First National Bank Frost Limo Inc Lopez Silva, Claudio

DRAFTFCB El Cronista Comercial

Fiba Holding

Peñaloza, Paulina & Manieu, Roberto Chileangourmet

PRIMEDIA Radio Mitre Provincia de Córdoba

Radio Montecarlo Rodríguez Larreta, Julia Rovner, Abishai & Grekin, Max

Deloitte

Geomar

Özyeğin University Özyeğin, Murat

El País

De Luca, Roberto

Hürriyet

Budget Türkiye

Koç University Koç, Ali

Netgate

Doğan Sabancı, Vuslat

Otokoç Otomotiv

Vertical

Producto Protegido

Deloitte Deloitte (Egypt) Donoso, Javier

SKMseaprende

Sabanci University Sa'd Abujaber & Sons Co. Ltd. Salas Martinez, Marcelo & Salas Martinez, Muaro Café Martinez

Secretaría de Cultura Gobierno de la provincia de Córdoba

Swett, Juan Pablo & Hurtado, Felipe trabajando.com

The Boston Consulting Group Torreiter, Erik Colaboración Virtual

Revista Apertura

Enrique Riso

Asignet

AUDICO

Montes de Oca, Rodolfo & Miranda Patricio

Espinosa, Daniel

Özdemir, Ebru

Gaidos, Leonardo

González Cid, Pablo

Goulston & Storrs Salesforce.com

Zott Producciones

Talal Abu-Ghazaleh Information Technology

Cines Hoyts

Bodega Chandon Boisier, Michelle & Rodrigo

KITCORP

Grupo Fen

1,000 +

VSP Capital

50,000 +

Aetheros Aximaz Branding Bolsa de Comercio de Buenos Aires Canal 10 Cisco Cohn, Steven; Contenla, Italo & Lipthay, Nicolás

Luay Abu-Ghazaleh

Middle East Technical University (ODTU) Modelos Digitales More, Álvaro

TBWA Istanbul

Officenet

10,000 +

Fuks, Patricio & Frenkel Alejandro

Daniel Espinosa

Estudio Mol eTV

Limak Holding

Platin Dergisi Schneeweiss, Daniel & Guindi, Moises Tequilara Milagro

66

Contributors & Board

Global Advisory Board Ariel Aisiks

Patrick Morin

GEO Capital Holdings CEO & Founder

Morin Assesoria Empresarial Director

Sunny Bates

Gary Mueller

Sunny Bates Associates President & CEO

Institutional Investor Chairman & CEO

Jorge Becerra

Seval Oz Ozveren

Boston Consulting Group Senior VP & Managing Director

Cuil, Inc. VP, Finance & Business Development

Gina Bianchini

Alan Patricof

Andreesen Horowitz Entrepreneur in Residence Ning Co-founder

Greycroft Founder & Managing Director

Diego Piacentini

Juan Pablo Cappello

Amazon.com Senior Vice President – International

Greenberg Traurig Chair Latin American Practice

Jeffrey Rosen

Marcelo Cherto

Lazard Deputy Chairman

Grupo Cherto Founder & CEO

Alexis Rovzar

Erik Dithmer

White & Case Partner

Dell Vice President & General Manager, Small & Medium Business, Americas

Greg Erickson Ernst & Young Global Vice-chair, Strategic Growth Markets

Taddy Hall Meteor Solutions Chief Operations Officer

Richard Hamermesh Harvard Business School Professor of Management Practice

Aly Jeddy McKinsey & Company Partner

John McIntire Nexstar Capital Partners Principal

Edward Misrahi Eton Park Capital Partner

Gabriel Rozman Tata Consultancy Services (TCS) Executive Vice President, Emerging Markets

Carlos Sales Sarrapy Cuasar Capital Managing Director

Susan Segal Americas Society & Council of the Americas President & CEO

Alejandro Zubillaga Rhone Group Senior Advisor

“An effective mentorship can save the entrepreneurs a few mistakes and help them take bold decisions that they might not consider on their own. As a mentor, I am also inspired by the entrepreneurs' continuous innovation and fresh thinking.”

Diego Piacentini Amazon.com, Senior Vice President – International Endeavor Global Advisory Board Member Endeavor Impact Report 2009—2010

Country Boards of Directors

ARGENTINA

BRAZIL

CHILE

Andy Freire

Carlos Alberto Sicupira

Salvador Said

Andrés Echavarría

Naguib Sawiris

Ali Al-Husry

Endeavor Argentina Chairman

Endeavor Brazil Chairman

Endeavor Chile Chairman

Endeavor Colombia Chairman

Endeavor Egypt Chairman

Endeavor Jordan Chairman

Axialent Founder & President

AB-Inbev Board Member

Grupo Said Executive Director

Organización Corona Board Member

Hikma Pharmaceuticals Director

Officenet Co-founder

Paulo Cezar Aragão

Enrique Cueto

Antonio Celia

Orascom Telecom Holding Executive Chairman

Santiago Bilinkis

Barbosa, Müssnich & Aragão Partner

Lan Airlines Executive Vice President

Promigas CEO

Staples Argentina Vice President

Fábio Barbosa

Jorge Errázuriz Grez

Albert Douer

OfficeNet Co-founder

Banco Santander President

Celfin Capital Vice President

Ajover Vice President

Juan Collado

Peter Graber

José Luis del Río

Diana Gómez

CelulosaArgentina S.A Director

Graber Segurança Founder & Partner

Empresas Dersa - Falabella President

Memo S.A. Co-chair of the Board

Grupo Tapebicua Founder

Antonio Dias Leite

Jean Paul Luksic

Guillermo Heins

Cetus Investimentos Partner

Antofagasta Minerals President

Heins & Moller Ltda CEO

Jorge Paulo Lemann

Soledad Saieh

Eduardo Pacheco

AB-Inbev Board Member

Fundación CorpArtes Chile Board Member

Colpatria President & CEO

Eduardo Elsztain

Emilio Odebrecht

Christoph Schiess

IRSA Inversiones y Representaciones S.A. Chairman & CEO

Odebrecht Chairman

Transoceánica Executive President

Alejandro Santo Domingo

Pedro Passos

Sven von Appen

Natura Co-Chairman

Ultragas President

Silvia de Torres Carbonell Centro de Entrepreneurship del IAE Director

Guibert Englebienne Globant Co-founder & CTO

Marcos Galperín Mercado Libre Co-founder & CEO

Alejandro Gorodisch Ombú Investment Management CEO

Martín Migoya Globant Co-founder & CEO

Wilson Poit Poit Energia, Founder & CEO

Marília Rocca

COLOMBIA

Quadrant Capital Advisors, Inc., Managing Director

EGYPT

Hassan Abdalla Arab African International Bank Vice Chairman & Managing Director

Elijah Bassily Virgitech Chairman & CEO

Khaled Bichara Orascom Telecom Holding CEO

Hythem El-Nazer TA Associates Principal

Tarek Mansour PricewaterhouseCoopers (Egypt) Country Senior Partner & Advisory Services Leader

JORDAN

Waddah Barkawi Ernst & Young Partner

Said Darwazah Hikma Pharmaceuticals CEO

Fadi Ghandour Aramex International Founder & CEO

Maher Kaddoura Angel Investor & Management Consultant

Peter B. Kellner Richmond Management Founder & Managing Partner

Safwan Masri Columbia University Middle East Research Center (CUMERC) Director King’s Academy Chairman

Fawaz Zu’bi Accelerator Technology Holdings Founder & CEO

Mãe Terra Managing Partner

Paulo Veras Imperdivel.com.br Co-Founder

Luciano Nicora VN Business Process Outsourcing Founder & CEO

Adolfo Rouillion Congelados del Sur Co-founder & President

Luis Saguier La Nación S.A Director

Nicolás Szekasy Mercado Libre Ex-CFO

Esteban Wolf Progen Founder & CEO

68

Contributors & Board

Endeavor Entrepreneur

LEBANON

Fares I. Fares Endeavor Lebanon Chairman Wedge Alternatives Chairman & CEO

Charles El-Hage Booz & Company Senior Partner (Retired)

Fadi Ghandour Aramex International Founder & CEO

Marwan Kheireddine

MEXICO

Emilio Azcárraga Jean Endeavor Mexico Chairman Televisa Chairman & CEO

Pedro Aspe Protego Asesores Chairman & CEO

Marcos Achar Levy Comex CEO

Elías Cababie Daniel

Al-Mawarid Bank Managing Director

GICSA Chairman & CEO

Sami Khouri

Juan Ignacio Casanueva

Teeba Holding CEO

Azmi Mikati M1 Group CEO

Grupo CP CEO

Miguel Ángel Dávila Cinemex Founder

Carlos Fernández González Grupo Modelo Chairman & CEO

Eugenio Garza Xignux Chairman & CEO

Andrés Gómez Grupo AXO Co-Chairman

Carlos Gómez Andonaegui Grupo Marti CEO

Guillermo González Guajardo Taller de Empresa CEO

S. AFRICA

TURKEY

URUGUAY

Bernardo Minkow

Adrian Gore

Özcan Tahincioğlu

Gabriel Rozman

McKinsey Former CEO

Endeavor South Africa Chairman

Endeavor Turkey Chairman

Endeavor Uruguay Chairman

Rafael Posada

Discovery Holdings Founder & CEO

Tahincioğlu Holding Chairman

Grupo Posada Chairman

Hlumelo Biko

Işık Keçeci Aşur

TATA Consultancy Services Executive Vice-President

Guillermo Romo

Circle Capital Ventures CEO

Aragon Capital Managing Director & Board Member

Grupo Megalab Chairman & CEO

Alexis Rovzar White & Case Executive Partner

Carlos Sales Sarrapy Cuasar Capital CEO

Alberto Torrado Alsea Chairman & CEO

Lorenzo Zambrano Endeavor Mexico Founding Board Member CEMEX Executive Director

Polly Carr & Jennifer Oppenheimer Oppenheimer & Sons

Juan Berchesi

Airties CEO

Isbel Director

Suzan Sabacı Dinçer Akbank T.A.S. Chairwoman

First National Bank CEO

Emin Hitay

David Frankel

Hitay Yatırım Holding A.Ş.

Chairman

Collective LP Founder

Ali Koç

Vincent Mai

Koç Holding AS President, Information Technologies

Ndaba Ntsele Pamodzi Investment Holdings CEO

Beven Nyatoro Circle Capital Ventures Partner

Isaac Shongwe Barloworld Logistics (Pty) Ltd CEO

Christopher Whitfield Batswadi CEO

AIVA Director

Bülent Çelebi

Iris Dempsey

AEA Investors Inc. CEO

María Noel Ache

Emre Mermer Dükkan İstanbul CEO

Ebru Özdemir Limak Holding Board Member

Murat Özyeğin Fiba Holding Board Member

Vuslat Doğan Sabancı Hürriyet CEO

Mustafa Say AccessTurkey Capital Group Board Member

Mahmut Ünlü StandardUnlu CEO & Board Member

Virginia Brause Estudio Jiménez de Arechaga Viana & Brause Partner

Pablo Brenner Prosperitas Capital Partners Senior Partner

Andrés Cerisola Estudio Ferrere Partner

Gabriel Colla Infocorp Director

Carmen Correa Avina Uruguayan Office Representative

Javier Figueroa Locomotion Director

Pablo Garfinkel Cines Hoyts Director

Francisco Gross Seinco Director

Álvaro Moré Young & Rubicam Director

Ariel Pfeffer Trillonario CEO

Julia Rodriguez Larreta El Pais Director

Endeavor Impact Report 2009—2010

Global Board of Directors Edgar Bronfman, Jr.

Jason Green

Warner Music Group Chairman & CEO Endeavor Global Chairman

Emergence Capital Partners Founding General Partner

Michael J. Ahearn First Solar Chairman

Emilio Azcárraga Jean Televisa Chairman & CEO

Matt Bannick Omidyar Network Managing Partner

Nick Beim Matrix Partners General Partner

Matt Brown CAIS Funds Managing Principal

Wences Casares Bling Nation Founder & CEO Endeavor Entrepreneur

Paul Fribourg Contigroup Companies, Inc. Chairman & CEO

70

Reid Hoffman LinkedIn Co-founder & Executive Chairman Greylock Partners Partner

Peter Kellner Richmond Management Founder & Managing Partner Endeavor Co-founder

“Endeavor is leading the High-Impact Entrepreneurship movement.”

Joanna Rees VSP Capital Founder & Managing Partner

Linda Rottenberg Endeavor Co-founder & CEO

Charles B. Seelig

Klaus Schwab World Economic Forum Founder & Executive Chairman

Dune Capital Management Managing Director

Brian Swette Burger King Non-Executive Chairman eBay Former COO

James Wolfensohn Wolfensohn & Company Chairman Endeavor Board Member Emeritus

Contributors & Board