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As if being a part of the Endeavor network wasn’t enough of an honor, the Endeavor global team created another way to recognize trailblazing Endeavor companies this past year. Dubbed Endeavor Outliers, the idea functions as both a noun and a verb: your company can be an Endeavor Outlier (if it meets the specific criteria), and select Endeavor Entrepreneurs can attend the annual Endeavor Outliers mentor and networking event by invite only.
Endeavor Outliers comprise the top five percent of the Endeavor network, which translates to a minimum of $10 million in revenue with at least 100% year-over-year growth, or $20 million in recently raised capital. Endeavor sees the Outliers as influencers in their respective entrepreneurial ecosystems—they’re catalysts in their communities, creating jobs and mentoring the next generation of entrepreneurs.
The inaugural Endeavor Outliers event took place in San Francisco in April of 2018. In addition to attending peer roundtable discussions facilitated by top Endeavor mentors, fireside chats, and thought-provoking panel discussions, attendees were able to network with the likes of LinkedIn CEO and co-founder Jeff Weiner and Reid Hoffman, former Yahoo CEO Marissa Mayer, and CEO of Uber Dara Khosrowshahi. Above all, the Outliers event is designed to inspire, connect, and provide a support platform for the top Endeavor Entrepreneurs.
“The Outliers event put into practice what we’ve always believed at Endeavor: that strong peer and mentor connections are crucial to building thriving entrepreneurship ecosystems,” said Endeavor co-founder and CEO Linda Rottenberg after the inaugural event. “Outliers leveraged our global network to provide a uniquely Endeavor opportunity for top, high-impact entrepreneurs from around the world.” They were able to “come together to learn from one another, get inspired, and strengthen their ties across borders.”
We’re excited to announce that three Michigan-founded companies, Floyd, Banza, and FormulaFolios, are among the Endeavor Outliers for 2019. Not only are these companies successful from a business perspective, their missions are rooted in social and environmental responsibility. Read their inspiring stories below, and stay tuned for more information about Endeavor Outliers 2019.
Floyd is a Detroit-headquartered eco-conscious furniture company built on the belief that furniture should be made for the home, not the landfill. The brand produces just three categories of furniture: the bed, the sofa, and the tables. With a dual focus on timeless design and functionality, all pieces are made with high-quality materials and can be easily assembled, disassembled, or replaced if anything breaks. “How products are developed, made, and arrive to your door matters,” reads their website. “We believe that you can solve big problems, like the culture of disposability, with meaningful design. We’re thoughtful about how our products are made and how they become a part of your life.” Floyd founders Kyle Hoff and Alex O’Dell joined the Endeavor network in 2017, and the company has raised a total of $9 million in funding since their founding.
Chickpea pasta and rice company Banza is revolutionizing the way people consume carbohydrates. Branded as “pasta that loves you back,” gluten-free Banza contains 25 grams of protein, 13 grams of fiber, and 43 grams of carbs, as opposed to 13 grams of protein, 3 grams of fiber, and 71 grams of carbs in the average pasta. On a larger scale, the Banza team actually cares about the health of their customers—they believe that people deserve more nutritious (but still delicious) food. The brand now produces every type of pasta, from penne to linguine, as well as cheddar and white cheddar mac and cheese and two different kinds of rice. You can now buy Banza in over 11,000 different stores, including Whole Foods, Target, Costco and your specialty grocery stores. The product was named one of TIME’s 25 Best Inventions in 2015, and brothers Brian (CEO) and Scott (COO) Rudolph have appeared on the TODAY show and Good Morning America. The Banza founders joined the Endeavor Detroit network when they lived in the state in 2015, and the company has raised $8 million over four venture capital rounds.
In a world of financial institutions that prioritize the bottom line over people, investment firm FormulaFolios stands out. Motivated by the belief that “the financial industry needs more good,” the Grand Rapids-based company aims to disrupt the status quo by “providing investors with smart portfolios that eliminate waste and keep costs low,” so they can pass those savings onto their customers. Services aside, FormulaFolios promotes a culture of volunteerism by hosting philanthropic team events and offering each employee 20 paid hours per year to volunteer for causes of their choosing. The company earned a spot on Inc’s coveted list of the 500 fastest-growing private companies in America in 2015, 2016, and 2017. FormulaFolios founder Jason Wenk joined the Endeavor network in 2017.
If you’re a high-impact entrepreneur looking to scale your business, see our application page and learn more about becoming an Endeavor Entrepreneur. We look forward to hearing from you!
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