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EndeavorSA shows entrepreneurs counter unemployment

Lauren Kate Rawlins
By Lauren Kate Rawlins, ITWeb digital and innovation contributor.
Johannesburg, 20 Feb 2017
Catherine Townshend
Catherine Townshend

EndeavorSA says entrepreneurs with a proven track-record in SA have the potential to make the most immediate and powerful impact on the country's unemployment problem.

This is according to a report released by parent company Endeavor. The global firm focuses on scaling-up start-ups ready to move into the SME space, as it believes this is where the highest job and wealth creation happens.

Endeavor has 1 302 entrepreneurs from 821 companies in 26 markets.

The report states that in the last year, $8.16 billion was generated in revenue by Endeavor companies, with over 600 000 jobs created. The firm hopes to increase that number to two billion by 2020.

EndeavorSA supports 31 entrepreneurs leading 21 companies.

Zelda Muller, marketing manager at EndeavorSA, says the local tech companies in the programme include: Cibecs (data backup), Entersekt (fintech), Merchant Capital (fintech), WyzeTalk (communication platform software), Hello Paisa (fintech), Training Room Onlin (edtech), BrandsEye (software), Cognician (software), WiGroup (fintech), IsoMetrix (software), GreatSoft (CRM), and delvv.io (software).

Previous businesses that have been through the programme include Vinny Lingham's Gyft and Clevva, a company that uses artificial intelligence for training.

EndeavorSA was officially incorporated in June 2004. Since then, it has supported more than 80 entrepreneurs in SA, whose companies have created approximately 21 000 jobs.

"With the right mentorship, funding and institutional support, our country's most dynamic and promising entrepreneurs and thinkers can turn their businesses into stable and thriving enterprises with global reach," says Catherine Townshend, EndeavorSA MD.

Start-ups need to meet the following criteria to be considered: have a minimum annual turnover of R10 million, be founder-led, have a proven track record, be a unique business that can't easily be replicated and have potential for exponential growth, among other measures.

EndeavorSA also has an Excelerator programme targeted at black-owned businesses demonstrating the potential to scale within a defined timeframe.

Companies can apply to be a part of the programme here.

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