Photo courtesy of Endeavor
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In emerging markets around the world, entrepreneurs face unique challenges as they seek to scale their businesses and drive sustainable growth. Endeavor, a global organization, is dedicated to empowering these high-impact entrepreneurs to break through barriers and realize their potential. By providing mentorship, access to capital, and strategic guidance, Endeavor transforms individual business success into community-wide economic impact. Through its Multiplier Effect, Endeavor amplifies the influence of these entrepreneurs, sparking economic growth, fostering a culture of innovation, and creating the conditions for entire ecosystems to thrive.
The multiplier effect in action
The Endeavor Multiplier Effect demonstrates how one successful entrepreneur can ignite growth across a local ecosystem. By fostering economic growth, job creation, and sustainable development, Endeavor’s model empowers high-impact founders to reinvest their knowledge, capital, and networks back into their communities. “At Endeavor, we believe that a single entrepreneur has the power to spark lasting change,” says Linda Rottenberg, CEO and Co-Founder of Endeavor. “The Multiplier Effect isn’t just about individual success—it’s about building a legacy that fuels job creation, innovation, and economic growth across entire regions. When high-impact founders invest back into their communities, they don’t just build businesses; they build ecosystems, unlocking opportunities for generations to come.”
Here’s how this powerful effect unfolds through key elements:
Scaling success for broader impact
Endeavor equips entrepreneurs with the resources needed to scale their businesses, leading to economic contributions through job creation and industry leadership. Many of these businesses become regional or even global leaders, setting an inspiring example for future startups. This creates a domino effect that strengthens the regional economy, as success in one business encourages growth in others.
Mentorship for the next generation
Successful Endeavor entrepreneurs actively mentor emerging founders, sharing their insights and experience. This mentorship is vital to nurturing the next generation, instilling confidence and building essential skills that keep the ecosystem dynamic and forward-moving. Through mentorship, founders give back in ways that help new entrepreneurs overcome challenges and accelerate their growth.
Reinvesting financial resources locally
Endeavor-supported entrepreneurs frequently become angel investors or venture capitalists, using their own financial success to support local startups. This reinvestment provides early-stage companies with the funding they need to grow and thrive, further enriching the community and encouraging new ventures.
Inspiring innovation through role models
Beyond financial contributions, Endeavor entrepreneurs inspire others by showing what’s possible through entrepreneurship. Their journeys encourage risk-taking and a culture of innovation—key ingredients for a robust entrepreneurial environment.
Careem: a case study in the Multiplier Effect
One of the most powerful examples of Endeavor’s Multiplier Effect is the journey of Careem, the Middle East’s leading ride-hailing app. Founded in 2012 in Dubai by Mudassir Sheikha and Magnus Olsson, with Abdulla Elyas joining the founding team two years later, Careem set out with an ambitious vision: to create economic opportunities and establish a brand that could compete with global gig economy giants.
Their path was challenging—Careem’s early days were marked by hurdles, from tackling a largely unbanked driver base to navigating gender disparities and a cash-dominant culture. Despite these obstacles, Careem quickly gained traction, transforming into the region’s go-to app for ride-hailing and later expanding into a multi-service platform.
Endeavor selected Sheikha, Olsson and Elyas as Endeavor Entrepreneurs in 2018, connecting them with pivotal business contacts who helped streamline Careem’s rapid expansion. Just one year later, Uber took notice and made its largest-ever acquisition, purchasing Careem for $3.1 billion. This acquisition not only made Careem the Middle East’s first unicorn but also underscored its role as a regional success story with global reach. Today, Careem operates in 70 cities in 10 countries across the Middle East, North Africa, and South Asia, serving over 50 million customers in over 70 cities and creating more than one million jobs.
Careem’s Map. Photo courtesy of Endeavor
Igniting a culture of innovation
Careem’s success has had a catalystic effect, inspiring former employees to launch over 120 new startups, contributing to a burgeoning entrepreneurial landscape across the Middle East. For instance, former Careem employee Belal El-Megharbel founded MaxAB, a B2B platform that has since raised over $60 million in funding. This ripple effect exemplifies how a single success story can ignite a culture of innovation and opportunity.
Building a legacy of investment and mentorship
In addition to inspiring new startups, Careem’s founders have directly invested in over 90 companies, contributed to Endeavor’s Catalyst funds, and mentored nearly three dozen entrepreneurs. Mudassir Sheikha, now the chair of Endeavor Pakistan, is actively championing a similar entrepreneurial transformation in Pakistan, a country with immense untapped economic potential. By guiding and mentoring Pakistan’s entrepreneurs, Sheikha empowers them to scale, expand internationally, and foster sustainable growth. His approach, along with Magnus Olsson’s frequent advice to “just start and learn,” enables founders to push boundaries and achieve new heights.
Creating a lasting impact
Endeavor’s Multiplier Effect showcases the power of one success story to elevate an entire region. Through mentorship, investment, and knowledge sharing, Endeavor Entrepreneurs are creating thriving ecosystems that will fuel economic growth and innovation for years to come. Looking ahead, Endeavor’s work continues to transform communities around the world, proving that supporting one high-impact entrepreneur can set off a chain reaction of opportunity and progress.