The unprecedented crisis has shifted the world to a new order as consumer and business need to shift abruptly and sail into an uncertain future. Since early March, Endeavor has stepped up, extending and accelerating its entrepreneur support to entrepreneurs within the Endeavor network and also the public. Endeavor APAC has released a new report “Endeavor APAC Crisis Response & Ecosystem Giveback” to document support that was rendered to our entrepreneur communities to navigate through this challenging period.
The report highlights initiatives from Endeavor’s regional offices in APAC, covering Indonesia, Malaysia, Philippines, Vietnam and Japan in supporting entrepreneurs through hours of mentoring and investment deals. In addition the report illustrates the power of the greater Endeavor entrepreneur support ecosystem that can continue to support local businesses and communities, so that they emerge stronger and more prepared for the challenges ahead.
Collectively, Endeavor APAC has supported 1036 entrepreneurs and worked with 87 mentors over the last 3 months from March 4 2020 to May 22 2020. We have witnessed the power of the Endeavor community in putting together a support framework swiftly through the collective assembly of Endeavor’s resources. Endeavor hosted various webinars and individualized mentoring sessions to support entrepreneurs by offering curated crisis management resources that were designed to serve the immediate needs of the entrepreneurs.
“The sessions with Endeavor have tremendously helped us manage daily risks and mitigate challenges amidst so many unknowns,” said Hai Ninh – Co-founder of The Coffee House and one of the Endeavor Entrepreneurs from Vietnam.
The report is a pioneer project by Endeavor APAC to assess the impact of collective activities in supporting the entrepreneurs communities regionally. The report suggests that the majority of the sessions are one-on-one mentoring sessions where entrepreneurs received mentoring and advisory from Endeavor mentor and Board members. 80% of the sessions conducted are curated based on local entrepreneurs economic context and environment. The curated content is aligned to the immediate needs of the entrepreneurs faced in respective communities. In addition, Endeavor also connects local entrepreneurs with resources from our regional and global networks. 20% of the sessions are designed to inform on the regional and global practices in navigating through this challenging time.
Out of the 10 topics discussed, the report asserted that strategy, sales, and fundraising were the top three most discussed topics by entrepreneurs. In summary, entrepreneurs benefited greatly from the support provided on a local level to address their immediate needs that are relevant in their communities while having access to regional and global networks to ascertain best practices on preparing themselves better for the times ahead.
To continue with the supporting effort, entrepreneurs of a wider reach are given access to all types of resources that were summarized from the sessions through social media, website, and newsletter.
Read the full report HERE.