A Decade of Impact – How We Choose: The Art of Spotting High-Impact Entrepreneurs
At Endeavor, selection is a promise to discover entrepreneurs who build ecosystems. Since launching in Bulgaria in 2015, Endeavor has supported 182 entrepreneurs across 100 companies, each chosen through one of the most rigorous founder vetting processes. This process is designed not merely to evaluate, but to elevate — spotlighting founders who become multipliers, creating teams, mentors, and lasting impact.
"The goal of selection is to find entrepreneurs who will be multipliers, founders who will build more than businesses."
Beyond our flagship Global program, we also provide a tailored version of this selection process for external partners. Here, we adapt our rigorous standards to fit the specific goals and stages of accelerators, innovation funds, and governments. We work closely with partners to define what excellence looks like for their communities, ensuring that the founders they select have real potential and readiness for growth.
What does it mean to be a high-impact entrepreneur? It’s clarity of purpose combined with a willingness to learn and a drive to build something meaningful beyond personal gain. We look for founders who demonstrate vision and grit, lead companies solving real problems with scalable models, and whose timing is right for rapid growth. Sometimes the business is strong but the timing isn’t quite there yet — and that’s perfectly okay. Those founders often return when conditions align better, showing how the process supports long-term growth.
"Sometimes the founder and business are great, but the timing isn’t right, maybe the product needs to mature, or they’re still too early to scale globally. That’s okay. We often invite them back when the time is right."
The journey through Endeavor’s Global selection is thorough, involving multiple interviews, second opinions, and both Local and International Selection Panels. It’s built as a framework to strengthen founders. Many companies don’t make it on their first try, but the experience challenges them to refine their strategy, deepen their vision, and clarify their ambitions. Those who succeed enter a global network spanning 46 countries, an ecosystem of some of the most visionary entrepreneurs worldwide.
Rejection, while tough, is often the start of a new chapter. The feedback and insights founders gain during the process act as a mirror, helping them see their business and themselves with greater clarity. Some return a year, two, or even three years later, ready to join the network at the perfect moment. This “come-back” dynamic speaks to the value of resilience and timing.
"“We tell every founder: going through the process will make your business stronger, regardless of the outcome. The feedback, the reflection, the honest questions give you a clearer sense of where you are and where you’re going.”"
For earlier stage companies, our Dare2Scale and ScaleUp programs offer a selection process that’s tailored to their growth. These processes maintain high standards and provide valuable feedback that helps founders grow faster. The Endeavor Entrepreneurs who began in such programs prove that every step in the process contributes to building sustainable, high-impact companies.
Q&A with Simona Nikolova
Director of Entrepreneur Experience, Endeavor Bulgaria
- How do we define a “high-impact” entrepreneur?
A high-impact entrepreneur is someone who is both a great business person and a great human. They’re transparent, resilient, and ambitious — driven not just to build a successful company, but to multiply their impact across people and ecosystems. They want to create jobs, mentor others, and leave a lasting mark.
- Endeavor’s selection process is famously rigorous. What are the characteristics of founders who do well at Local & International Selection Panels?
The founders who successfully pass through the Local and International Selection Panels are the ones who are open — open to feedback, to new perspectives, and to growing. They know their numbers and their market, but they also know where they need help. Panels are looking for clarity, humility, and big ambition. It’s not about having all the answers but rather showing that you’re the kind of person who will keep asking the right questions.
- Let’s talk mistakes. What’s a common reason a promising founder doesn’t make it through? What advice would you give to someone who didn’t pass but wants to reapply?
Sometimes it’s a matter of timing. The product isn’t quite there, or the business hasn’t hit its growth stride yet. Other times, the founder isn’t coachable — they’re defensive or not ready to reflect. My advice? Take the feedback seriously, use it to grow, and come back when you’re ready. Some of our strongest entrepreneurs were second-time applicants.
- We often say we “select founders, not just companies.” What does that mean in practice?
We care deeply about who the founder is. You can always pivot a product or refine a model. But the founder — their mindset, their values, their ability to lead and inspire — that’s the foundation. We’re not just investing time in a company; we’re investing in a person we believe will create impact over a lifetime.