High-impact entrepreneurs in the Philippines have been exhibiting a pay it forward movement – a “multiplier effect” that is helping other businesses grow.
This is what Endeavor Philippines revealed in its 2024 Impact Report in line with its 10th year of driving growth in the local entrepreneurial scene.
Manny Ayala, Managing Director of Endeavor Philippines, said that the entrepreneurs they have backed up has become “a catalyst for innovation and opportunity, multiplying their success by mentoring, investing, and paving the way for others.” The Endeavor Entrepreneurs, also called founders, had help built a chain reaction that reshapes industries and empowers entire communities.
Endeavor’s report, themed “10 Years of Multiplier Effect,” explained how a single founder’s journey can influence a new generation of companies simply by mentoring, investing in, and inspiring other entrepreneurs. As high-impact entrepreneurs grow their businesses, they generously share knowledge, resources, and insights among emerging founders. The outcome is a cycle of giving back which accelerates individual success and drives economic development on a national scale.
Bela Gupta D’Souza, founder and CEO of Edamama.ph, recognized how Endeavor Philippines motivated the founders it has brought to its network and help Philippine startups scale up and solve meaningful problems in the country. “In terms of the final aspect of nation building and this idea of multiplier effect, I think it’s such a powerful example of how entrepreneurship goes beyond just thinking about your own business and really contributing to the betterment of society.”
Founded in 2020, Edamama.ph is the number one online-to-offline (O2O) retail platform for parents in the Philippines currently offering over 95,000 products. It is also expanding into offline retailing where physical stores are put up in strategic locations all over the country.
The report also mentioned of the transformative power of the multiplier effect. It is evident in the impact Endeavor Philippines has achieved since its launch in 2015. Over nearly a decade, Endeavor has supported 46 entrepreneurs across 33 companies in industries such as fintech, eCommerce, and logistics. This strategic support has led to substantial economic contributions – over $900 million in revenue generated, 66,000 jobs created, and $1 billion in capital raised in 2023 alone.
“Endeavor has been such a wonderful community that’s been very supportive for me, my co-founder, and for CloudEats for the last two years,” said Kimberly Yao, one of the founders that Endeavor Philippines took under its wings and has now grown its company that revolutionaized the food and beverage industry in Southeast Asia.
“It (Endeavor) actually inspired me to also pay it forward, how can we help the next generation of entrepreneurs. And today we have been mentoring younger entrepreneurs, maybe younger in stage or in life cycle of their business, which also helps build this ecosystem in the Philippines,” she added.