GUIDING SUCCESSES: Ko says Endeavor mentors can help budding businesses leapfrog hurdles — Pic: RAZAK GHAZALI
Source from (The Malay Mail): http://www.mmail.com.my/story/us-network-mentor-local-entrepreneurs-33110
Published: October 12, 2012
With the likes of Warner Music Group chairman Edgar Bronfman Jr, Linkedln co-founder and executive chairman Reid Hoffman and former World Bank president James Wolfensohn as directors, non-profit Endeavor was set up in 1997 as a channel for the transfer of knowledge and experience by international business leaders, investors and mentors to aid new ventures and promising entrepreneurs.
In an interview yesterday, vice president for international expansion Cindy Ko said efforts had resulted in various projects handled through the body to chart revenues close to RM15.37 billion last year.
Endeavor’s model is led by local private sector leaders, who pledge their time and money to help rising stars, she explained. “No one previously believed there are entrepreneurs in developing countries, let alone mentors, who would pledge their time to help support other businesses.”
Ko said “potential” mentors in Malaysia could include AirAsia Bhd co-founder Tan Sri Tony Fernandes and JobStreet.com chief executive officer Mark Chang as their success stories have inspired many entrepreneurs around the world.
The organisation is presently looking towards setting up operations in Malaysia, followed by countries like Thailand, Vietnam and Philippines within the next two years, she said, having recently ventured into Indonesia — with Singapore as its regional headquarters.
Successful candidates would go through a selection process, Ko said — who cautioned that past records showed barely 2-5% of nominated entrepreneurs are selected to be paired up with mentors.
Endeavor, having presence in almost 15 countries, has screened more than 28,000 entrepreneurs.
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