São Paulo – Working to develop new, innovative businesses that boast strong growth potential. Such is the mission of Endeavor Global, a United States-based non-profit company established in 1997 which already operates in 15 different countries. Carrying out Endeavor’s work in the Middle East will be the mission of the Brazilian Ludmilla Figueiredo, who is moving to Dubai, in the United Arab Emirates, in October.
Ludmilla will be the senior Marketing manager. Endeavor has offices in Egypt, Jordan, Turkey and Lebanon. The company focuses on promoting entrepreneurship in developing countries, but Dubai has been selected as Ludmilla’s headquarter because Endeavor needs partners to help it promote an entrepreneurial culture in the Middle East, including support from prominent businessmen and local media.
“It is a strategic location in the region, both in terms of development and because it hosts a strong network of business leaders,” says the executive. “I am going to build a network of mentors, spread the company’s name and become involved with local entrepreneurship activities,” she says. The mentor network she refers to should comprise successful businessmen who make themselves available to share their experience with start-ups. “They seek it (to share knowledge) because they have already built a lot,” she says.
The holder of a degree in Social Communication with a major in Creation, Ludmilla entered the business world by chance, because she needed money to fund her specialization courses. “As it turned out, I loved it. I realized I was in the right place, working with marketing, planning, and strategy,” she says. She worked for companies such as TIM (Brazilian mobile operator), Kellogg’s and Webtrends, until she joined Endeavor Brasil, where she remained for three and a half years. While seeking international experience, she found out that the company’s parent was expanding its operations in the Middle East, and decided to take on the challenge.
At age 26, she is not worried about eventual obstacles. “If I were to stop and think about the problems, I might give up this opportunity,” she claims. “I have lots of new stuff to learn, especially in the cultural area. From what I could gather speaking to the people there, the receptiveness is good,” she says. What does she expect to achieve through her work in the Middle East? “I want to make an entrepreneurial revolution,” she says emphatically. “I want to place entrepreneurs on the media spotlight, showcase the best practices, show what is taking place in terms of entrepreneurship in the Middle East,” she explains.
At present, Endeavor operates with 76 entrepreneurs in the region. To join the network, companies must have revenues of at least US$ 1 million. Thus, Endeavor does not partake in the very beginning of a new company, but rather it boosts the growth of businesses under development. In 2010, companies served by Endeavor around the world posted combined revenues of US$ 4.5 billion. “The aim is to have companies grow 30% to 40% a year, on average.”
In the Middle East, the expansion of Endeavor has the support of Abraaj Capital, a Dubai-based investment fund. There are also businessmen such as Fadi Ghandour, the founder of Aramex, a logistics and transport company, which support the development of entrepreneurship in the region. “Their identification with the cause is what leads them to become involved. Endeavor wants to minimize barriers and create other entrepreneurs like them,” claims Ludmilla.
Regarding the profile of entrepreneurs in the region, she explains that most are men aged 25 to 44. As to the type of business they open, most are in the technology or retail industries. “Approximately 60% of the companies are technology-oriented. A lot of the luxury market is also being tapped into, such as ‘The Bakery Shop,’ in Egypt, based on the concept of an elite bakery,” she says.
The initial plan is for Ludmilla to remain in Dubai for a year, but she wants more. “The intention is to stay there for a while, at least two years, to make the entrepreneurial revolution,” she finishes off.
*Translated by Gabriel Pomerancblum
