Despite a high rate of entrepreneurial activity across Miami, it remains difficult for doers and innovators to build their ideas here. It is harder than it should be for people launching new ventures to connect with others, find mentorship opportunities and obtain quality support services.
To address this challenge, today we’re announcing a $2 million investment over five years to launch Endeavor Miami.
Endeavor is a non-profit organization that for nearly 15 years has built vibrant, connected, self-sustaining communities of entrepreneurship and innovation. First started in Latin America, Endeavor now operates in 15 countries around the world.
Miami will be Endeavor’s first outpost in the U.S.
To be clear, Endeavor does not invest in companies. Instead of providing venture capital, it provides what one writer called “mentor capital.”
What Endeavor does is go to a city, identify the best high-impact entrepreneurs, connect them with proven local business leaders as mentors and integrate them within its broader global network. Importantly, in each city, the non-profit tells the stories of its entrepreneurs in a bid to create role models who serve as catalysts for the broader public.