ENDEAVOR, the leading global community of, by, and for high-impact entrepreneurs, launched the Philippine Multiplier Map to show how they have reshaped the local business environment and uplifted the enterprising spirit of Filipinos.
“The Philippine entrepreneurial ecosystem is at an inflection point, with more companies launching than ever before, more venture capital firms setting up and more capital flowing into the Philippines,” Endeavor Philippines Managing Director Manny Ayala said.
Since its establishment in 2014, the community has supported thriving entrepreneurial environments in emerging and underserved markets around the world, as well as opened up economic and employment opportunities in locations where it operates.
Endeavor Entrepreneurs have, in fact, generated over P30 billion in revenues in 2022 alone, and have created about 30,000 jobs. In the Philippines, the community has selected 33 entrepreneurs from 27 companies who continue to make their mark, posting $513 million in revenue this year and creating over 29,000 employments over the course of eight years.
“With the growth of the ecosystem, we’ve also witnessed the emergence of high impact entrepreneurs,” he noted.
Endeavor believes that they transform economies given their biggest ideas and greatest potential to achieve meaningful scale.
What’s more, they also have the ability to “inspire, mentor, and invest in the next generation of entrepreneurs, thereby unleashing a far-reaching multiplier effect,” according to Ayala.
Dedicated to guiding and motivating the next generation of business-minded people, they are reinvesting profits, expertise, and time to multiply the positive impact their individual enterprises have achieved.
Over the past years, for instance, Endeavor mentors in the Philippines have spent over 1,200 mentoring hours to entrepreneurs from all over the world. A few of them during the time of their journey have reached two pivotal milestones: the 1,000+ Minute and 2,000+ Minute Club.
Members of the former include Jaime Augusto Zobel de Ayala, Chairman of Ayala Corp.; Injap Sia of Mang Inasal and Double Dragon; and Gabby Lopez, chairman emeritus of ABS-CBN. The latter’s inductees include Stores Specialists Inc. President Anton Huang; BBDO Guerrero Founder David Guerrero, and Laborem Inc. Chairman Jasen Ko.
“Endeavor is able to create a multiplier effect because we are committed to inspiring high-growth founders to dream bigger, supporting and investing in them to scale faster, and providing a platform to pay it forward—thereby compounding their individual impact,” Ayala said.
To sustain Endeavor’s long-term operations in a mission-aligned way, the community formed Endeavor Catalyst—a rules-based, co-investment fund set up to invest in the same high-impact entrepreneurs that it supports. At present, it is among the world’s top early-stage funders of start-ups-turned $1 billion plus companies (“Unicorns”) outside of the United States and China.
Act of kindness
PAYING it forward has ignited the entrepreneurial spirit of Endeavor Philippines.
“In the Philippines, Endeavor entrepreneurs and staff reflect the 3Ms—Magaling, Matino, and Mapagbigay,” Ayala said. “They’re the cream of the crop; they operate with a high level of integrity, and they are generous.”
Endeavor Entrepreneurs, whose ventures have emerged as Big Bubbles, or companies that have had a measurably large multiplier effect in the ecosystem, now serve as key mentors, investors, and advisers for early-stage companies locally and internationally. Among them are Nix Nolledo, Coins.ph CEO Ron Hose, Lenddo Cofounder Richard Eldridge, and Kalibrr Cofounder and CEO Paul Rivera.
Meanwhile, next-in-line Endeavor Entrepreneurs who are already making their mark and primed as the next Big Bubbles in the Philippines’s start-up ecosystem include Roland Ros and Rexy Dorado, cofounders of Kumu; and Steve Sy, CEO of Great Deals E-Commerce Corp.
“For me, being an EE (Endeavor Entrepreneur) means playing a greater role in the betterment of society. I think it’s our responsibility to pay it forward. Endeavor has allowed us many wonderful things. It’s our duty to mentor and give back to others,” said Paolo Hilario of Lay Bare, an EE since 2018.
Image credits: Endeavor Philippines