We often assess the impact of entrepreneurs based on factors such as profit, growth and valuation. However, according to Endeavor Lebanon and its global network, the parameters of impact are much bigger. High-impact entrepreneurs, according to studies, can transform economies.
Endeavor Lebanon and the 41 other chapters of the organization, are focused on supporting high-impact entrepreneurs to scale up, in order to multiply their impact. They refer to this as the ‘multiplier effect’, which in essence means, the “compound, exponential impact a founder has on the entire entrepreneurial economy of a region when they mentor, invest in, and inspire the next generation of entrepreneurs.” This is their sphere of influence. The bigger the multiplier effect, the greater their impact.
So how can entrepreneurs scale up and increase their impact?
Based on this trajectory, Endeavor has identified numerous ways which entrepreneurs can transform economies. They include:
- Scale up, based on a clear path. When founders grow and scale their companies, they have the power to transform industries and impact local economies, as well as regions.
- Mentoring and investing in the next generation. The entrepreneurial journey is one filled with challenges and opportunities. The key learnings from these journeys are useful to others in the ecosystem. Accordingly, Endeavor encourages high-impact entrepreneurs to serve as role models, invest in other companies and mentor other entrepreneurs. They give back and pay it forward.
- Inspire others to grow and dream bigger. With a multiplier effect mindset, founders are encouraged to inspire their teams to dream bigger, and create opportunities. This also allows aspiring entrepreneurs to overcome obstacles and grow their businesses.
These three factors are part of Endeavor’s strategic direction, which encourages their portfolio companies to dream bigger, scale faster, and pay it forward.
However, not all companies are Endeavor-ready yet, for a multitude of reasons. Nonetheless, there are success stories in the making, being written by Lebanese entrepreneurs all over the world, who can benefit from such programs.
Introducing Endeavor Lebanon’s Scale Up program
To this end, Endeavor Lebanon has created a Scale Up Program, following global best practices, answering the needs of Lebanese entrepreneurs, that is tailored to founders with potential, to help them multiply their impact.
Now in its second cohort, the Scale Up Program is on the lookout for high-impact, fast-growth companies founded by Lebanese entrepreneurs from across the world.
By joining the 15-week program, founders with high potential may become Endeavor entrepreneurs, serving as the next generation of success stories that will impact local ecosystems and inspire the next generations of Lebanese founders.
For those who dream big and are committed to pay it forward, apply to the Scale Up Program, through this link by May 30, 2023.