Enabling New Job CreationAccording to a recent Economist Intelligence Unit (EIU) survey sponsored by SAP, the world needs to create more than 500 million new jobs by 2020 in order to provide career opportunities for the currently unemployed as well as young people who will join the workforce. The bulk of this challenge falls on countries in the developing world, including Brazil and India. Entrepreneurs are putting in place a variety of measures to help ensure they are well-positioned to exploit growth opportunities. At the top of the list is funding. Forty-one percent of small businesses are seeking new financing to take advantage of the opportunities available to them.
"As Endeavor enters its 15th year, we are proud to have selected and supported 700 entrepreneurs who have created over 200,000 jobs and generated 2011 revenues of over 5 billion dollars," said Linda Rottenberg, CEO, Endeavor. "We look forward to expanding on that record in additional countries and with the help of partners like SAP."
SAP recently created a dashboard for Endeavor that illustrates how Endeavor companies grow revenue and jobs 2.4 and 5.4 times faster respectively than comparable firms. Furthermore, Endeavor entrepreneurs typically pay their employees twice the average salary.
In particular, SAP and Endeavor Global plan to:
- Develop mentorship opportunities linking SAP employees to emerging entrepreneurs in over 15 emerging economies worldwide, including Brazil, Mexico, Saudi Arabia, Turkey, Greece and South Africa, focused on technology innovation, design thinking and business leadership engagements
- Drive technology innovation initiatives, including design thinking workshops and the development of an online entrepreneurship platform that tracks progress globally and allows for interaction among entrepreneurs across multiple geographies
- Participate in Endeavor's Investor Network, which provides introductions for qualified institutional and venture investors to successful emerging market companies
- Select 50 emerging entrepreneurs who will receive a custom package of benefits, including access to Endeavor Brazil's planned online platform and skilled volunteering opportunities with SAP employees
- Select 20 emerging entrepreneurs from among the group of 50 who will receive an entrepreneur package from SAP with a growth grant, a technology evaluation and SAP exclusive mentorship
- Establish an online community that tracks and monitors the entrepreneurial environment in Brazil. In-depth pilots will be run with local stakeholders in specific cities in Brazil by Endeavor and Professor Daniel Isenberg, global Ecosystems expert, bringing together all key entrepreneurship stakeholders to create a joint action plan for a better entrepreneurial environment in selected cities. The first pilot will take place in January 2013 in Rio de Janeiro.
- Train 30 mentors across India who will support 300 emerging entrepreneurs in India
- Select 100 SAP experts who, through skilled-based volunteering assignments, will help emerging entrepreneurs with their specific technology requirements
- Select up to five emerging entrepreneurs who will receive a technology assessment, technology solutions and an innovation growth grant from SAP
- Have created over 200,000 jobs
- Generated over $5 billion in revenues in 2011
- Inspire future generations to innovate and take risks
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