Brazilian entrepreneurs have a new supporter: SAP. The German enterprise software corporation has announced plans to team up with Endeavor Brazil as part of a larger initiative to back and promote entrepreneurship in the world’s developing economies.
SAP announced an initial three-year, US$2.6 million (€2 million) commitment to Endeavor Global, Endeavor Brazil and India’s National Entrepreneurship Network (NEN). Through the initiative, it will partner with the organizations to accelerate job creation and responsible, sustainable business growth.
“Today’s entrepreneurs are the bedrock of tomorrow’s economy. We believe in the ‘Power of Small,’ and the vital role that the private sector plays in helping small businesses and entrepreneurs. Technology has already helped them to become more resilient to market changes with innovative business models and efficient operations; it is at the heart and soul of their business. The task is now to identify and support small businesses leaders that have all the ingredients to execute their magic growth formula, accelerate innovation, and create jobs for the common good. With this initiative, SAP is making a clear commitment to invest in their long-term future by providing talent, technology and capital,” remarked Bill McDermott, Co-CEO of SAP.
SAP and Endeavor Brazil
Endeavor Brazil currently supports 57 companies in the country. Arm-in-arm with SAP, it will seek to do even more.
The two will select 50 emerging entrepreneurs to receive a custom package of benefits set to include access to Endeavor Brazil’s planned online platform and skilled volunteering opportunities with SAP employees. Of that group, 20 stand-out entrepreneurs will be chosen to receive a SAP entrepreneur package with a growth grand, a technology evaluation and exclusive SAP mentorship.
Moreover, SAP and Endeavor Brazil will set out to establish an online community to track and monitor Brazil’s entrepreneurial ecosystem. The pilot for the project will take place in Rio de Janeiro.