Endeavor, Leading High-Impact Entrepreneurship Program, Plans to Open a MoroccanAffiliate with USAID Start-up Grant
Endeavor, an international nonprofit organization with a successful track record of enabling High-Impact Entrepreneurs to accelerate their businesses in 14 growth marketsaround the world, plans to establish a program in Morocco with startup grant support from USAID Morocco, through the Morocco Economic Competitiveness (MEC) Program.“High-Impact” Entrepreneurs are entrepreneurs whose medium to large-scale businesses demonstrate strong potential for growth and most importantly, local job creation. Endeavor’s modeldelivers valuable services, including mentoring, access to capital and management expertise.
According to Joanna Harries, Endeavor’s Director of International Expansion, “Most of the companies that Endeavor works with have a few dozen employees when they first enter the network, and all have strong potential to grow to a few hundred or thousands of employees.” Endeavor’s model responds to a critical challenge in the Maghreb region, which hosts one of the world’s youngest workforces and needs to create 100 million jobs by 2020 just to maintain current employment levels.
Endeavors’ arrival in Morocco follows extensive consultations with the local business community and other key stakeholders in late 2011 and early 2012. Harries says, “On all fronts there were clear indicators that an Endeavor affiliate office in Morocco would make sense.”
Since receiving the MEC start-up grant in mid 2012, Endeavor has recruited a strong local board of directors, comprised of 8 leading members of the Moroccan business community and has registered the new organization. The Board will play a critical role, offering advisory services to the entrepreneurs and local Managing Director and ensuring long-term sustainability for Endeavor Morocco.
According to Morocco Board Chairman, Moulay Hafid Elalamy, President of The SAHAM Group, the launch of Endeavor’s economic growth oriented services is imminent: “In the upcoming 6 months, we will hire a Managing Director and select our first group of High-Impact entrepreneurs in Morocco to support.”