São Paulo – Watch designer Touch and Novaprolink, which develops software for legal sector professionals, were the two companies chosen in the 42nd selection panel promoted in Dubai, from March 27th to 29th, by Endeavor. Now, these two companies will receive Endeavor guidance in brand management and positioning, investment and business opportunities. Apart from the Brazilians, two companies from Egypt, one from Turkey, one from Chile and three from Mexico were also selected.
The senior marketing manager at Endeavor, Dubai, the Brazilian Ludmilla Figueiredo, said that the two companies approved by the panel in the United Arab Emirates may find partners in the Arab world. She believes that the fact that the event took place in Dubai should bring companies closer to the reality of the Middle East.
"It was good for them to learn about the market in the Middle East. Furthermore, everything that happens in Dubai echoes throughout the Middle East. We also have offices in Lebanon, Jordan, Turkey and Egypt. It is attractive, but it is necessary to observe whether their business [the product of companies to receive Endeavor consultancy] matches the local reality, as the market in the Middle East is different from that of Brazil,” said Figueiredo.
The Endeavor strategy is to aid companies with annual revenues of between US$ 1 million and US$ 15 million to grow sustainably and faster than if they did not have this partnership. During the selection process, companies undergo detailed evaluation of their accounts, revenues, number of employees and debt. After approved, they receive Endeavor guidance. Values like innovation and company ethical posture are evaluated.
"We generally operate in management. We offer suggestions regarding strategy, help establish a council of directors, evaluate whether it is necessary to restructure the expense flow. We sometimes come to the conclusion that companies have an excellent system that nobody knows. So we work on marketing,” said Figueiredo.
This guidance has a cost. Companies pay a monthly fee to Endeavor and turn 2% of their net revenues to the institution, a non-profit-making organisation.
The companies chosen in the 42nd Selection Panel will join the Endeavor network, a group of 422 small and medium companies that, together, had revenues of US$ 4.5 billion and employed 156,000 people in 2010.
Apart from the local office in Dubai, the company has offices in Jordan, Lebanon and Egypt, among the Arab countries, and in Brazil, Uruguay, Colombia, Argentina, Mexico and Chile, in Latin America. The next selection panels will take place in Cartagena, Colombia, in May, London, in June, Istanbul, in October, and Miami, in December.
*Translated by Mark Ament
