Endeavor launches in Ukraine to provide global support platform for Ukrainian entrepreneurs
Endeavor, a global community of high-impact entrepreneurs, has announced its expansion into Ukraine. The goal is to provide Ukrainian businesses with access to Endeavor’s network and capital.
Endeavor has more than 45 offices across the globe. The opening of its office in Ukraine is a clear signal of confidence in the potential of the Ukrainian startup ecosystem, says Linda Rottenberg, Endeavor co-founder and CEO.
"We are excited to launch Endeavor Ukraine, empowering local entrepreneurs to scale and amplify their impact," says Endeavor co-founder and CEO Linda Rottenberg.
"Backed by a strong founding board, we are confident that Endeavor Ukraine will play a pivotal role in supporting Ukraine's most promising high-growth entrepreneurs to create their own multiplier effect," Rottenberg says.
Headquartered in New York City, Endeavor builds a global community of entrepreneurs, helping its members grow their ventures, create jobs, transform economies, and support future generations of business leaders in their regions.
"An Endeavor office in Ukraine has long been on our radar, and we believe strongly that now is exactly the right time to launch," says Joanna Harries, senior VP of expansion at Endeavor.
In Ukraine, Endeavor will now support local entrepreneurs in tackling various challenges, says Sviatoslav Sviatnenko, the nonprofit’s managing director in Ukraine. According to him, these challenges may include preparing for an IPO or M&A, expanding into new countries, recruiting top talent, and more.
"Ukrainian entrepreneurs will gain access to an unrivaled global network of peer entrepreneurs, mentors, and investors. We will connect them with the right people to help them find answers to their questions and grow their businesses faster," says Sviatnenko. "It’s no longer about six or so handshakes — it’s just one."
The European Bank for Reconstruction and Development (EBRD) and the Ukraine-Moldova American Enterprise Fund (UMAEF) have provided financial support for the launch of Endeavor in Ukraine. They believe this will help Ukrainian businesses scale like never before.
In Ukraine, the Endeavor’s founding board of directors includes seasoned entrepreneurs and investors: Flyer One Ventures general partner and Genesis co-founder Vital Laptenok, MacPaw founder and SMRK VC Fund co-founder Oleksandr Kosovan, Svitla Systems president Natalia Anon, Enzym Group supervisory board chairwoman Olena Vovk, Farmak CEO Volodymyr Kostiuk, Reface co-founder and a16z scout Dima Shvets, director for innovation, education and entrepreneurship at UMAEF Anton Waschuk, Citi Ukraine country officer Alexander McWhorter, and StratMinds partner Anton Borzov.
"Backed by highly successful people, Endeavor Ukraine will bring immense value to the local entrepreneurial community. I believe that with all my heart," says Laptenok, who also serves as the board’s chair.
"A strong economy, great leaders, and success stories — this is exactly what we need while the country is at war with Russia," he says.
Endeavor Ukraine will target high-growth tech companies that are in the scale-up phase and have global growth ambitions. Endeavor Entrepreneurs from Ukraine will join a community of thousands of entrepreneurs worldwide, who serve as role models within the local and international entrepreneurial ecosystems.
Apart from building the community, Endeavor invests up to $2 million in companies led by Endeavor Entrepreneurs through its rules-based fund, Endeavor Catalyst, which has historically co-invested with industry giants like Index Ventures, Accel, Sequoia Capital, General Catalyst, IFC, and others.
With over $500 million in assets under management, Endeavor Catalyst has invested in more than 300 companies, more than 50 of which are valued at over $1 billion (e.g. Glovo, Altruist, Checkout.com). Endeavor helps its members connect with the right venture capital firms focused on emerging markets and high-impact entrepreneurs.
Endeavor entering the country, however, isn’t just about bringing value to Ukraine, thinks Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation. "Endeavor will bring smart and dedicated Ukrainians to its community, many of whom build global businesses from day one," says Fedorov.
"As the government, we welcome expanding to the Ukrainian market – it’s of high importance and will definitely be a win-win," he says.
Founded in 1997, Endeavor’s network spans nearly 40 countries, across Latin America, Europe, Asia, Africa, the Middle East, and the U.S. Since its inception, Endeavor has supported over 2,800 entrepreneurs globally, creating more than 4.1 million jobs in their local economies and generating combined annual revenues of over $67 billion.
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