The John S. and James L. Knight Foundation has announced a five-year, $2 million grant to Endeavor Miami in support of the organization's work to identify and support promising entrepreneurs through educational, mentoring, and funding opportunities.
Since it was established five years ago, Endeavor Miami, the first U.S. affiliate of Endeavor Global, has supported twenty-three active companies and forty-two entrepreneurs across South Florida. Those selected to become Endeavor entrepreneurs receive access to mentors, access to institutional investors and a volunteer advisory board of local business leaders, and talent and services from partners such as EY, Bain, and top MBA programs. They also receive invitations to exclusive educational programs, including executive courses at the Stanford Graduate School of Business and Harvard Business School. To date, Endeavor Miami entrepreneurs have generated close to $150 million in revenues and eighteen hundred jobs.
In 2013, Endeavor Global received a $2 million investment from Knight Foundation to launch its first U.S. affiliate in Miami, and the organization later established affiliates in Atlanta, Detroit, Louisville, and Puerto Rico. Knight's support of Endeavor Miami forms part of its strategy to foster entrepreneurship in South Florida, which includes more than two hundred investments totaling over $25 million since 2012 in entrepreneurship initiatives across the region.
"In a short period of time, Miami entrepreneurs have built a connected community of idea makers who are contributing to the city's growth. The result: Miami is transforming into a hub — not only of tourism, real estate, and hemispheric trade — but for innovation and technology. Endeavor has been part of this journey, giving promising entrepreneurs a platform for success on a global scale," said Knight Foundation president Albert Ibargüen. "With partners like Endeavor, we've built momentum and continue to grow."