Endeavor South Africa Quarter 2 Newsletter 2024

Dear Friends of Endeavor,

Change is inevitable, sometimes it feels quick, and other times it just creeps up quietly. Investing in times of change increases volatility and shortens time horizons. The best entrepreneurs are adept to this ‘change delta’ and are able to hold a longer-term vision in mind whilst focusing on the present or ‘playing the ball’ as they say.

It has been an exciting quarter for South Africa as a nation. The 7th general election since 1994 was held on 29 May 2024 and on 14 June 2024, the ANC, the DA, the Inkatha Freedom Party (IFP), and the Patriotic Alliance (PA), agreed to form a Government of National Unity. There has been a collective exhale as horizons can now begin to lengthen. Subtle changes are being announced, such as the DTIC highlighting the importance of the digital & tech sector to SA’s economy.

We are pleased to announce changes that are taking place at Endeavor with the welcome of new board member Tjaart van der Walt of Tymebank, as well as the announcement of Breega’s Africa Fund, launched by Endeavor Board Member and Entrepreneur, Melvyn Lubega – both perfect examples of Endeavor’s pay-it-forward model in action. Globally we saw the soft launch of Endeavor’s London office – joining Singapore and San Francisco as satellite hubs with more events to follow in September. Endeavor Kenya hosted their first International Selection Panel (ISP) and across the pond, the Endeavor Outliers Retreat took place once again with a global gathering of top Endeavor entrepreneurs.

In the background, there is the quiet but steady progress amongst our entrepreneurs who are being recognised for the pioneering work they are doing. The next quarter includes a local Edtech roundtable hosted by our Endeavor Board member Ernst Gouws, the popular Harvard and Stanford Executive Education in August, and a strong showing at the Leaderex conference taking place in Johannesburg in September. Our coffee catch-ups, Roundtables, and Endeavor Connects continue, we hope to see you there!

Entrepreneur News

Onafriq: Revolutionizing Financial Inclusion expands the company’s footprint in fintech solutions across Africa. Read more.

Onafriq & VGS: Securing Fintech Solutions strengthen financial ecosystems and safeguard digital transactions against emerging cyber threats. Read more

TymeBank & iKhokha: Empowering Small Businesses empowering entrepreneurs to thrive in a competitive market landscape. Read more.

Yellow: Empowering Communities with Solar Power addressing energy access challenges across Africa. Read more.

Yellow, Onafriq, Spark Schools, Aura, and TymeBank: Financial Times Africa: Recognizing Fastest Growing Companies are recognized in the 2024. Read more.

iiDENTIFii: Leading in Digital Security iiDENTIFii are at the forefront of digital security solutions. Read more.

Aerobotics: AI-driven Insights for Agriculture provides AI-driven analytics that empowers farmers to optimize yields and sustainability practices. Read more.

Merchant Capital: Innovating Finance – economic development through accessible financing. Read more.

Saryx Engineering: Sustainable Mining Practices wins accolades for sustainable mining practices. Read more.

Global Endeavor Events

Endeavor Outliers: Celebrating Rapid Growth

Five South African companies, includingYellow, Onafriq, and TymeBank, are named in the 2024 Endeavor Outlier cohort for their exceptional growth and impact.

Endeavor Outliers Retreat 2024: A Global Gathering of Top Entrepreneurs

This year’s retreat saw 67 entrepreneurs from 24 different countries. Key takeaways from the retreat included the importance of talent, the balance between building a business and a family, and the unwavering determination of these entrepreneurs to achieve their goals.

Endeavor Kenya Hosts International Selection Panel

Endeavor Kenya recently hosted an International Selection Panel (ISP) in Nairobi. This event brought together 24 entrepreneurs from 12 countries, interviewed by 18 panellists from 11 countries, representing 17 different nationalities.

London Satellite office for EMEA & SSA region launch: Endeavor expands its presence in London.

Global News

Allen Taylor & Michele Wanjiku: Venture Capital in Africa

Endeavor Catalyst leaders Allen Taylor and Michele Wanjiku discuss venture capital’s role in fostering innovation and growth in Africa.

The future of VC is global and the 2024 Midas list reflects this shift.

Allen Taylor, Managing Partner of Endeavor Catalyst, discusses the “Global State of Venture Capital” with the latest Kauffman Fellows class and shared some compelling insights from Endeavor Catalyst. The decentralization of capital is accelerating, and it’s exciting to envision a future where the majority of top VCs and groundbreaking deals come from all corners of the globe. Read more.

MatchCAP Asia – One of the biggest business matching events in Asia.

In June, our team acrossEndeavor Indonesia, Endeavor Japan, Endeavor Malaysia, Endeavor Philippines, Endeavor Vietnam, and Endeavor Pakistan came together in Singapore for Endeavor MatchCAP Asia. 400+ in-person meetings in just 2 days. 70+ entrepreneurs and 90 investors from across the region joined this “exclusive investor roadshow”: Meet the companies and founders who are leading the way.

Ecosystem Updates

Francois Ajenstat, Chief Product Officer at Amplitude, share on “Leadership, Innovation, and the Future of AI in Product Management “ highlighting:

• Launching Snowflake Native Amplitude, a game-changer in data-driven product management
• The essential leadership lessons learned at every career stage
• The transformative tole of AI in shaping the future of product management Listen to the full episode at: Spotify https://lnkd.in/g7RNyyUe

As we ponder the coming AI revolution, Benjamin Labatut’s “When We Cease To Understand the World” offers historical short stories about scientists grappling with the mental toll of their innovations.

The era of easy money is over. On this episode of Origins, Nick and Beezer sit down with Frank Rotman to talk about the fundamental flaw in the way founders and investors have been funding startups.

On this special episode of the Bottom Linetwo of today’s leading growth equity investors, Martín Escobari and Marcelo Claure, talk about their journeys and what they expect from AI.

Welcome: Endeavor welcomes Julius Kempf and Sisi Nxumalo for a 3-month internship with Endeavor South Africa, providing hands-on experience with high-impact entrepreneurs.

Closing the quarter

James Taylor once sang ‘the secret of life is to enjoy the passage of time’. Attention is tentatively shifting to a longer-term horizon. Whilst most of the northern hemisphere are having a Summer break full of Tour de France, Wimbledon, and Football, whatever your choice, of sport, hobby, or enjoying the outdoors – we hope you find some time to have a break and take stock and enjoy the passage of time. It’s been an important quarter, one we hope has the seeds of fresh momentum and a brighter, longer-term vision for all.

Warm regards,

Alison Collier, Endeavor South Africa MD.