Endeavor South Africa: Quarter 3 Newsletter 2023
Dear Friends of Endeavor,
As we head into the final quarter of the year and the final stages of the Rugby World cup, we’re reminded of how inspiring it is to watch our teams, both the Springboks and Endeavor entrepreneurs, compete and have a chance to win at a global level. This makes us proud. Thanks to you, our board members, mentors, partners, investors, and entrepreneurs in the Endeavor network, who are the true enablers. The impact that is ignited by a successful team cannot be underestimated and is vital in our ecosystem. We remain as ever, committed to supporting South African entrepreneurs to dream big, scale-up and pay-it-forward and on a global scale. Good luck to the Springboks!
Endeavor’s mission is to drive economic growth and job creation by working with high-impact Entrepreneurs, who are solving real mass-market problems. Despite current economic distress, the 60 businesses that Endeavor South Africa works with have achieved remarkable results — generating close to R12bn in revenue in 2022, with a growth rate of +70%p.a. while attracting +R8bn in VC investments. And the 17 tech-enabled companies invested in by Endeavor South Africa’s Harvest Fund II, have collectively grown their revenue by 123% per year and created approximately 4,400 jobs in the past two years, of which 75% were for black Africans and 90% for youth. Read more in this op-ed featured in the business day.