Rottenberg describes the company as Argentina's Google-a fast-growing company that was started by four young, tech-savvy entrepreneurs who were turned down the first time they applied to Endeavor for help.
Their pitch was to make Argentina into a technology outsourcing center, in competition with outsourcing behemoths such as India. "It sounded nuts," Rottenberg says. "But they were incredibly confident. We just felt they needed more time."
After raising $5 million from qualified lead investors-a requirement of all Endeavor Entrepreneurs-they were accepted a few years later. Now Globant is one of Argentina's fastest-growing companies, doing work for companies such as Disney, Electronic Arts and Google. And like Google, "they are creating a group of people who are going on to start their own companies," Rottenberg says.
Another recipient of an Endeavor Catalyst investment, AirTies, a company in Turkey that develops wireless networking equipment, was started by a former Silicon Valley engineer who returned to his home country 10 years ago to start his own business-a move that earned him the "crazy" title in his country. "People thought he lost his marbles," Rottenberg says.
Endeavor Catalyst has thus far raised about $10 million and is looking for minimum $1 million donations. Its largest donation thus far was $5 million from the Omidyar Network, a philanthropic investment firm created by eBay founder Pierre Omidyar and his wife Pam Omidyar. Those donating $1 million have included Reid Hoffman, co-founder and executive chairman of LinkedIn; Edgar Bronfman Jr., former chairman of Warner Music Group and general partner of Accretive LLC; and Arif Naqvi, founder and CEO of Abraaj Capital.
Funds given to Catalyst are tax-deductible donations to a 509(a)(3), but Rottenberg views them as investments for socially conscious individuals who wants to actually see their dollars put to work. Donors will receive reports on how the money is invested, how companies that received the money are progressing and what impacts they are having on their economies, she says.
"It's an exciting opportunity if you are looking at it as someone who wants to put your money to work and to make a difference in the world," Rottenberg says.