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‘The multiplier effect shows how a single founder can have a significant impact on generations of companies, by virtue of mentoring and investing in other founders and inspiring their employees to start their own companies,’ says Endeavor PH’s 2024 Impact Report
MANILA, Philippines – Affiliated businesses of Endeavor Philippines, a global network for high-impact entrepreneurs, generated around $900 million in revenue, created over 66,000 jobs, and raised $1 billion in capital in 2023 alone.
The findings were detailed in Endeavor Philippines’ 2024 Impact Report, which was released in commemoration of the organization’s 10th anniversary last month.
Since its establishment in 2015, Endeavor Philippines has supported 46 entrepreneurs across 33 industries.
Endeavor Philippines’ Managing Director and co-founder Manny Ayala said the organization aims to catalyze change in different industries by supporting local entrepreneurs.
“Each founder we back is a catalyst for innovation and opportunity, multiplying their success by mentoring, investing, and paving the way for others,” he said.
The 2024 Impact Report highlighted the “Multiplier Effect,” a principle illustrating how the success of one entrepreneur can spur innovation and create opportunities for others. By leveraging mentorship and investment, Endeavor said that high-impact entrepreneurs not only expand their own ventures but also empower emerging founders to pursue their entrepreneurial ambitions.
“The Multiplier Effect shows how a single founder can have a significant impact on generations of companies, by virtue of mentoring and investing in other founders and inspiring their employees to start their own companies,” the report says.
Empowering leaders
Endeavor Philippines highlighted the success of entrepreneurs from various fields, such as e-commerce firm Great Deals to fintech companies such as Coins.ph.
After building one of a few Philippine firms to raise a Series B round, Great Deals CEO Steve Sy runs a mentorship program that has impacted over 60 entrepreneurs across four cohorts.
“Supporting others as they navigate their own paths to success is incredibly fulfilling, and it feels meaningful to carry forward the support that Endeavor extended to me,” Sy said.
Coins.ph founder Ron Hose also served as the first Endeavor Entrepreneur board member of Endeavor Philippines. Hose mentors and invests in Southeast Asian startups, focusing on innovative fields such as Web3 and fintech.
Co-investment fund
Endeavor Philippines also attributes the entrepreneurs’ success to its co-investment fund, Endeavor Catalyst, which has a portfolio of 57 unicorns across 35 markets. Apart from sustaining Endeavor’s operations, the fund also invests in the companies of the organization’s entrepreneurs.
Endeavor Catalyst has supported six Philippine companies such as HR and business solutions firm Sprout Solutions and supply chain tech company Growsari through its Series A and B rounds. [READ: GrowSari raises total funding to $110 million, eyes VisMin expansion]
In the next decade, Endeavor Philippines aims to encourage Filipino entrepreneurs to redefine traditional industries through innovation. It also hopes to establish a robust support system that provides resources such as mentorship and funding to budding entrepreneurs.
“We aim to foster a deeply rooted pay-it-forward culture within our entrepreneurial community — where each success story sparks another, creating a lasting cycle of growth and positive impact for generations to come,” Ayala said. – Rappler.com
