To show how Endeavor Entrepreneurs have influenced the Philippine startup scene since the community’s debut in 2014, Endeavor has created the Philippine Multiplier Map. Here are the five points Endeavor Philippines Managing Director Manny Ayala brought up to best explain how Endeavor has grown throughout its eight years of the multiplier effect concept:
The Stellar Reputation of Endeavor
Under the belief that high-impact entrepreneurs are the key to economic growth, Endeavor works to develop thriving entrepreneurial ecosystems in developing and underserved regions worldwide. For instance, Endeavor mentors in the Philippines have logged over 1,200 hours of service, advising business owners from dozens of other countries. Over that period, a select number of Endeavor mentors have joined the 1,000+ Minute Club and the 2,000+ Minute Club, respectively.
Impact Of The Multiplier Effect On the Philippine Startup Scene
The Multiplier Effect has contributed to the development of the Philippine entrepreneurial ecosystem by encouraging established businesspeople to help others just starting. Inspiring many would-be business owners, they set the bar high. They’ve been a mentor and introduced them to their contacts. The money they made off of them has been put back into the business.
Big Bubbles from Endeavor
First-generation Endeavor founders have become Big Bubbles (businesses with a measurable big multiplier effect in the ecosystem), exerting a significant amount of influence and acting as crucial mentors, investors, and advisors to early-stage companies all across the world. The list includes Nix Nolledo and Coins.ph CEO Ron Hose, Lenddo co-founder Richard Eldridge, and Kalibrr Co-founder and CEO Paul Rivera. The newest Endeavor entrepreneurs are making their mark and are on track to join the ranks of the company’s most successful mentees, the next generation of Big Bubbles.
Bettering Partnerships
The community was able to drive investment to the same high-impact entrepreneurs that Endeavor supports through the rules-based co-investment fund, Endeavor Catalyst. These high-impact business owners can motivate and guide aspiring entrepreneurs while reaping financial rewards for their efforts. Outside of the United States and China, Endeavor Catalyst is now one of the most prominent early-stage financiers of firms that go on to become $1 billion or more in valuation (“Unicorns”).
Growth for the Future
With $513M in revenue in 2022 and over 29,000 new employment created over eight years, Endeavor has selected 33 entrepreneurs from 27 companies who continue to impact the country. With the support of other Filipino businesses that are prepared to share their experiences and insights, the number of successful Filipino businesses should increase.
