<a href="https://www.linkedin.com/in/lindarottenberg/" target="_blank" rel="noreferrer noopener">Linda Rottenberg</a>, Endeavor’s Global CEO, recently visited Nigeria, marking a successful series of events that underscored the country’s vibrant tech ecosystem and entrepreneurial spirit. 
Organized by <a href="https://nigeria.endeavor.org/" target="_blank" rel="noreferrer noopener">Endeavor Nigeria</a>, led by the Managing Director and CEO, Ireayomide Oladunjoye, the visit aimed to foster partnerships, promote digital innovation, and support the next generation of tech leaders. 
As co-founder and CEO of Endeavor, Linda has led the global entrepreneurship movement since 1997. About 2,500 Endeavor Entrepreneurs generate over $24BN in annual revenue and 4 million jobs. Linda also oversees $250M Endeavor Catalyst LP Funds. 
As part of her itinerary, Linda had a roundtable with leading tech journalists in the country to share reflections on founding Endeavor in Argentina, the inspiration behind launching Endeavor Catalyst in 2011 and the significant milestones the team has achieved so far. 
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 Linda Rottenberg speaking to founders on the sidelines of one of the events to mark her visit to Lagos
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During the session, she provided insights from Endeavor Catalyst’s experience from being the leading investor in unicorns outside the US, China, and India, and shared common misconceptions. 
For example, Linda noted that they got better investment returns from investments in startups in Turkey, Brazil and Argentina. 
“I had conversations with African founders who are not very hopeful because of the economic realities. But, what we have learnt from countries who have experienced similar economic trajectories like Argentina, Brazil and even Egypt is that turbulent times like currency devaluations are followed by periods of geometric growth for businesses and investors”, she explained. 
Today, Endeavor’s network spans 42 markets and supports more than 2,589 entrepreneurs leading 1,585 companies, whose companies generate combined revenues of over $42 billion US and have created more than 3.9 million jobs. 
Linda shared her conviction that the funding winter in the ecosystem is an indication for investors to get greedy. 
“I will always say you should invest during the hard times. Hard times sieve out uncertain players and create room for the next generation of innovators who will build on the experience of the earlier generation to build resilient businesses”, she said. 
Endeavor launched its Nigeria office in 2018 to select and support up to 4-6 companies and founders yearly, who recognize a responsibility to pay it forward, are at the scale-up stage and are eager to multiply their impact in Nigeria’s entrepreneurship ecosystem. 
Asked to share her predictions for the African startup ecosystem based on her experience in investing in potentially high-growth companies, Linda asked investors to watch out for companies led by 2nd-time founders and founders who have built with other successful founders. 
She also expressed optimism for startups building AI and deep tech models. She also advised investors to watch out for founders with models that rely less on funding. 
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Being an Endeavor entrepreneur is for scale-up companies seeking an opportunity to scale bt 10x and to raise at least $5 million. And, Endeavor Catalyst will participate in the round if they want them to. 
Today, there are 33 Endeavor Nigeria Entrepreneurs leading 16 companies in their portfolio. In 2023, Endeavor companies in Nigeria generated over $573M in revenues and were responsible for more than 183,000 jobs. 
In all, Linda believes that there is a need for a more vibrant local investor community for the ecosystem to achieve its full potential. “We need more builders to participate in the mentorship culture so we can build the next generation of successful entrepreneurs”, she said. 
<h4 id="endeavor-nigeria-organise-other-events-to-mark-linda-rottenbergs-visit" class="wp-block-heading">Endeavor Nigeria organise other events to mark Linda Rottenberg’s visit</h4> 
The Endeavor Nigeria team organised other events to have Linda Rottenberg engage industry payers and highlight Endeavor’s role in driving innovation, supporting entrepreneurs, and contributing to Nigeria’s socio-economic development. 
These include a dynamic networking event where Linda engaged with founders and pipeline entrepreneurs from Endeavor Nigeria’s portfolio companies, providing valuable insights and engagement. Attendees included Josh Chibueze (PiggyVest), <a href="https://technext24.com/2019/10/24/carbons-chijioke-dozie-and-ngozi-dozie-join-the-91st-cohort-of-endeavor-entrepreneurs/" target="_blank" rel="noreferrer noopener">Ngozi Dozie</a> and Chijioke Dozie (Carbon), Obi Emetarom (Zone) and Olugbenga ‘GB’ Agboola (Flutterwave). 
Other founders in attendance include Mudiaga Mowoe (Matta), Emeka Emetarom (Qore), Tayo Oviosu (Paga), Etop Ikpe (Autocheck), Chinedu Azodoh (MAX), Peter Bunor (Field), Olumide Fayankin (Vendease), Anu Adedoyin Adasolum (Sabi), Benjamen Oladokun (Shekel Mobility), Tomilola Majekodunmi (Bankly), and Daumantas Dvilinskas (TransferGo). 
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 Chairman of the Endeavor Nigeria Board and CEO of Chapel Hill Denham, Mr Bolaji Balogun
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At another event, the Chairman of the Endeavor Nigeria Board and CEO of Chapel Hill Denham, Mr Bolaji Balogun presented a comprehensive view of the Nigerian digital ecosystem. The presentation highlighted the unique opportunities and challenges within Nigeria’s digital landscape. 
Later, Linda Rottenberg and Bolaji Balogun virtually met with the Honorable Minister for Communications, Innovation, and Digital Economy. Dr. ‘Bosun Tijani. Their discussions focused on the government’s role in supporting the tech ecosystem, creating jobs, and fostering an environment that enables businesses to thrive. 
The day concluded with an event dedicated to female founders and executives in Nigeria, underscoring the importance of diversity and inclusion in the tech industry. The event featured a fireside chat between Linda Rottenberg and Rolake Akinkugbe-Filani, Host of Business Week, Arise TV. 
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 Linda Rottenberg and Rolake Akinkugbe-Filani, Host of Business Week, Arise TV at the Endeavor meet with female founders event
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This event was an opportunity to engage directly with one of the world’s foremost leaders in entrepreneurship to foster a supportive and inclusive environment for female entrepreneurs. It emphasized the need to amplify women at every stage of their journey to ensure a vibrant and inclusive ecosystem. 
Despite female-led companies in Africa attracting less than 5% of venture capital, the future should include female entrepreneurs getting equal access to capital, resources, and leadership opportunities.

Global CEO, Linda Rottenberg’s visit restates Endeavor’s commitment to the Nigeria tech space 5 years on

Technext.ng

Інші статті, опубліковані 23 лип. 2024 р.

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