Entrepreneurs Face Tough Questions at 46th Endeavor ISP in Miami

The 46th Endeavor Selection Panel has been taking place in Miami since Monday, as the organization seeks out its next generation of Endeavor Entrepreneurs. This final leg of the selection process has brought together entrepreneurs from all over the globe, from Latin America to Europe and the Middle East.

The types of companies and entrepreneurs in this 46th Endeavor ISP run the gamut in terms of industry and approach. Nevertheless, a few trends can be noted – for example, comparison and purchasing platforms for financial services and insurance and e-commerce-related products and sites.

Given the ISP’s Miami location, it comes as little surprise that the majority of the entrepreneurs presenting hail from Latin America. Argentina, Brazil, Chile, Colombia, Mexico and Uruguay are represented, with Brazil and Mexico sending the most candidates (seven and five, respectively).

An Intense Agenda

The three-day event kicked off on Monday, when the candidates and panelists were welcomed at the Mandarin Oriental in Miami. Attendees spent time at orientation sessions and got a chance to network and get to know one another in a relaxed setting prior to Tuesday’s more, ahem, demanding agenda.

Yesterday, entrepreneurs faced the panelists who would decide their Endeavor fates. Each individual or team sat in front of three different two-person panels throughout the day, where they told their stories, defended their decisions and outlined their visions for the future.

The panelists – top executives, entrepreneurs, investors and business minds from around the globe – did not go lightly on the candidates by any means. During the interview sessions, judges were aggressive and analytical, forcing the entrepreneurs to confront difficult issues and questioning the very basics of their businesses. What happens when the founding partners of the company disagree? Why not offer complementary services? How are margins and commissions determined, and are the current numbers too greedy? What happens should regulations change or if a competitor swoops in and steals an idea?

Today, the panelists will meet to discuss the answers they received to such questions during what are rumored to be some intense deliberations. Candidates must be approved unanimously (with a 6-0 vote), making for some pretty deep discussions among judges.

Endeavor’s 46th International Selection Panel will come to an end this afternoon, when the results are announced. It will surely be a long day for the candidates waiting to find out their Endeavor fates.