Global entrepreneurship movement Endeavor recently celebrated its fourth year of accelerating high-impact entrepreneurs in the Philippines.
Since its inception in 2015, Endeavor Philippines’ high-impact entrepreneurs have created more than 1,700 jobs and have increased annual revenues by P3.6 billion. Collectively, it has generated over P6.2 billion in annual revenues in 2017. Endeavor currently has 20 entrepreneurs from 16 companies in the Philippines.
During the sidelines of the Endeavor Impact Party on 5 December, Endeavor Philippines managing director Manny Ayala talked about the role that millennials are undertaking in the development of the entrepreneural ecosystem in the country.
“I think globally, entreprenuership has captured the imagination of the young people. A lot of people find it exciting to be, in many ways, determining their own future rather than being in a big job, (and being) one out of many,” he said.
“Millennials, they have this great desire to do something meaningful, something purpose-driven. And if you’re an entrepreneur, you can find that.”
Endeavor Philippines aims to create a multiplier effect in the country’s financial ecosystem by accelerating high-impact entrepreneurs with the help of Endeavor’s local and international mentors and partners.
Entrepreneurs at the most influential companies influence 60-80 percent of companies in their local ecosystems, according to an impact report by Endeavor.
The non-government organization is connected to key resources in 26 countries and has a global network of mentors providing spot mentorship, strategic advice and commercial introductions. Among Endeavor’s include executives from companies and institutions such as LinkedIn, Yahoo! USA, Starbucks, Amazon.com, McKinsey & Company Indonesia and Harvard Business School.
Among the successful entrepreneurs who have completed leadership programs in Harvard Business School and Stanford’s Graduate School of Business under Endeavor’s Access to Talent services are chief executive officers of Zark’s Burgers and Lay Bare, Zark Varona and Paolo Hilario.
A homegrown waxing salon, Lay Bare now has 100 branches nationwide and is the first of its kind in the country. Referring to the industry it belongs to, Hilario said that they’re striding towards professionalizing it.