Mexico is consolidated as the main entrepreneurial destination

With a ceremony that took place for the first time at the Azteca Stadium, the 15th edition of the Endeavor Gala managed to bring together more than 1,000 entrepreneurs and stakeholders aligned with the growth of Mexico as the capital of entrepreneurship. In recent years and with the milestone of six unicorns registered in the country, Mexico has managed to establish itself as a true entrepreneurial hub that contributes to the development of various industries, generating a positive impact on the LATAM region worldwide.

The list of winners this year represents a true pride for Mexico. The Endeavor 2021 Gala honored Sergio Rosengaus, co-founder of KIO Networks and Chairman of the Board of Directors of Endeavor 2016-2020, with the “Work of Counselor” Award; Sergio ” Checo ” Pérez with the ” Mexican Pride ” Award; and Daniel Vogel and Pablo González, founders of Bitso (Mexican unicorn in 2021), with the “Entrepreneur of the Year” Award.

The Endeavor Gala is the event that celebrates the female and male entrepreneurs who are transforming Mexico. Next year will be a memorable year for this ecosystem of entrepreneurs, which will celebrate 20 years of experience in the country supporting different initiatives, and which has been a pioneer in opening the conversation about the importance of entrepreneurship in the country, for the growth of a nation. .

We are very proud that, after 20 years of uninterrupted work by Endeavor in Mexico, today we can reap what we have built and see the fruits of this work reflected in a concrete way .

^{Vincent Speranza, General Director of Endeavor Mexico.}

“Our mission is to promote the transforming gene and provide the necessary conditions for entrepreneurs from all over the world to find in our country a place to make their dreams come true,” he added.

254 Endeavor entrepreneurs

During these two decades, between 2002 and 2021, Endeavor has selected 254 Endeavor Entrepreneurs in Mexico, a figure that represents 168 companies. Despite the 2020 crisis, these companies managed to generate sales of 32,712 million Mexican pesos, and more than 26,792 direct jobs . With the boost and recovery of entrepreneurs, sales in 2021 are projected to reach 40,000 million Mexican pesos (2 trillion dollars) and add more than 32,656 direct jobs and thousands of additional indirect ones.

^{Photo: Courtesy Endeavor}

The first Mexican unicorn

2020 has been a historic year for Mexico, registering the birth of the first Mexican unicorn: Kavak. But in addition, in less than a year that milestone was enhanced with the appearance of new unicorns in the country, which today reach a total of six, of which three are Endeavor Entrepreneurs ( Kavak, Clip, Bitso ) and one of them candidate in the selection process (Clara). Together, the value of these unicorns exceeds 16 billion dollars and between them they have managed to raise more than 50% of the capital in the last 10 years (3.3 billion), with Kavak being the private company with the highest value in LATAM.

The birth of the first Mexican unicorn in 2020 is no coincidence: Endeavor has been preparing the fertile ground for this for two decades and it is a pride and joy for this leading network of entrepreneurs to be reaping the fruits of what has been sown during these 20 years.

This year, in Mexico the historical figure of 3.4 trillion dollars of capital raised by entrepreneurs was reached, which is equivalent to all the capital raised from 2010 to 2020 and which represents a record growth speed of 10 months for 10 years. The sectors that have benefited the most from this growth have been Fintech and eCommerce .

^{Photo: Bitso Founders. Courtesy Endeavor.}

The importance of migrants in the world of entrepreneurship

Endeavor highlights and celebrates the importance of migrants in the world of entrepreneurship. Within the more developed entrepreneurship ecosystems such as Silicon Valley and New York, migrants make up 60% and 40% of the workforce, respectively. In Mexico City, meanwhile, foreigners represent 31% of all companies in the technology sector that have raised capital through institutional funds.

Foreign entrepreneurs positively impact the labor market in Mexico City and the rest of the country by generating wealth through quality jobs and attracting capital and income to Mexico. According to data from Endeavor Intelligence, these companies contribute nearly 10,000 direct jobs and have attracted nearly $ 2 billion of capital from primarily abroad.

Mexico has become the number one destination at the regional level to expand operations, followed distantly by Colombia and Brazil, being the country that captures the most entrepreneurs, as a gateway to the United States and LATAM. The Endeavor Gala celebrates this Mexican landmark with true pride.

All honorees at the 2021 Endeavor Gala: Mexican pride

In addition to the awards ” Labor of Counselor ”, ” Mexican Pride ” and ” Entrepreneur of the Year ”, this year received the recognition ” Welcome to Mexico ” recognition for those entrepreneurs who decided to expand their operations reaching our country to contribute to economic growth through the generation of wealth and social change: Amr Shady (Tribal); Sergio Furio (Creditas); Francisco Sandoval (YOM); Victor Knewitz and Cassio Bobsin (Zenvia); Serhat Soyuerel l (Insider); Diego Olcese (Crehana); Sergio Casaretto and Aldo Casaretto (Crepier); Martin Schrimpff (Kocomo), and Federico Malek (Wonder Brands).

For its part, the recognition of the Generation of Entrepreneurs, who represents those who went through the rigorous selection process of Endeavor at the international level to be part of this network of high-impact entrepreneurs, went to: Courtney McColgan (Runa – 2019); Guillermo Elizondo and Gerardo Sáenz (Territorium – 2019); Bruno Ramos (Swap – 2019); Billy Rovzar and Fernando Rovzar (Lemon Studios – 2020); Javier Mata (Yalo – 2020); Ricardo Weder, Ricardo Martínez and Alejandro Sisniega (Jüsto – 2020); Alexis Patjane (99 minutes – 2020); Ángel Sahagún (albo – 2021), and Deepak Chugani and Sam Blackman (Nuvocargo – 2021).

^{Photo: Sergio Rosengaus, co-founder of KIO Networks. Courtesy Endeavor.}

The celebration of the Endeavor Gala at the Azteca Stadium represents the celebration of women and men entrepreneurs for the economic, social and cultural growth of Mexico, fundamental pillars of Endeavor’s mission in our country.