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Jan 11th 2021 – Miami, FL – Today, Endeavor Miami – the first U.S. affiliate of the global organization supporting entrepreneurship – announced that it has partnered with the Simkins Family Foundation to launch the second cohort of its accelerated growth program, EndeavorLAB. The program has the objective of supporting Black founders in scaling their ventures, ultimately promoting Black-led entrepreneurship as a catalyst for economic growth in Miami.
As an organization that supports Scale-ups – companies at least three years old with a minimum of 20% CAGR – Endeavor Miami recognized the lack of Black representation among Scale-up founders. EndeavorLAB, Cohort Two, was created to help more Florida-based Black entrepreneurs achieve scale in their businesses and consequently decrease such a gap.
“At Endeavor Miami, we understand that the opportunity behind supporting Black entrepreneurs is quite big and really important,” said Claudia Duran, Managing Director of Endeavor Miami. “We are proud to partner with the Simkins Family Foundation and leverage over 20 years of expertise scaling ventures to promote Black-led entrepreneurship as a catalyst for economic growth in Miami.”
EndeavorLAB, a two-month accelerated growth program, reflects Endeavor’s structure as an organization and leverages the knowledge and best-in-class services and tools used to support entrepreneurs in the network. Through EndeavorLAB, Endeavor will support 10 local Black-led early-stage companies with a market-tested business model, to accelerate their growth through access to seasoned mentors, workshops and exclusive content.
“The Simkins Family Foundation is proud to partner with Endeavor and leverage the organization’s knowledge and expertise in scaling companies,” said Michael Simkins, President, and CEO of Lion Development Group and Endeavor Miami Board Member. “We understand the importance of fostering entrepreneurship, at all levels, and from all backgrounds, in order to drive meaningful growth in Miami.”
Endeavor also counts with the support of Lightship Capital and The Center for Black Innovation as community partners. “We are so excited to have played a small role in helping EndeavorLAB support black startups in Miami,” said Brian Brackeen, Endeavor Entrepreneur and General Partner of Lightship Capital. “It is our hope to find firms that we can invest in from this cohort. At Lightship Capital we believe that investing in Black business is good business.”
Both organizations were instrumental to the selection of the cohort participants and will participate as judges in the program’s Demo Day. “We are elated to be a community partner alongside Endeavor and Simkins Foundation on such an important initiative,” mentioned Felecia Hatcher-Pearson from Center for Black Innovation. “With so much attention on Miami and it’s tech and innovation potential right now. Black Founders need support at all levels if we are truly talking about supporting and building an inclusive innovation ecosystem and a stronger economy.”
In light of the current global pandemic, EndeavorLAB will take place virtually until further notice.
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Established in 1997, Endeavor is leading the global high-impact entrepreneurship movement to drive economic growth and job creation by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 60,000 individuals and selected more than 2,000 founders leading over 1,200 scale-up companies. With support from Endeavor’s worldwide mentor network, Endeavor Entrepreneurs have created over 3 million jobs, generate more than $20 billion in revenue each year, and inspire future generations to innovate and take risks, building strong entrepreneurship ecosystems in growth markets. Headquartered in New York City, Endeavor currently operates in 37 growth markets throughout Africa, Asia, Europe, Latin America, the Middle East, and North America.
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