{"id":402995,"date":"2023-09-21T06:00:08","date_gmt":"2023-09-21T11:00:08","guid":{"rendered":"https:\/\/endeavor.org\/?p=402995"},"modified":"2024-04-05T15:03:01","modified_gmt":"2024-04-05T20:03:01","slug":"unicorn-founder-pathways","status":"publish","type":"post","link":"https:\/\/endeavor.org\/stories\/unicorn-founder-pathways\/","title":{"rendered":"Where Do Unicorns Come From?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"402995\" class=\"elementor elementor-402995\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6458219b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6458219b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-79b4c9d8\" data-id=\"79b4c9d8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-511e4f20 elementor-widget elementor-widget-heading\" data-id=\"511e4f20\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Where Do Unicorns Come From?\n<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-181fec6 elementor-widget elementor-widget-text-editor\" data-id=\"181fec6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>September 21, 2023<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3e172522 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e172522\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f4093ab\" data-id=\"f4093ab\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57d795dd elementor-widget elementor-widget-heading\" data-id=\"57d795dd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Studying the Career Journeys of the Top $1+ Billion Founders<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1dc454ba elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"1dc454ba\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-38bc6702\" data-id=\"38bc6702\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1c9b47bf elementor-widget elementor-widget-text-editor\" data-id=\"1c9b47bf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tBillion-dollar unicorns aren\u2019t as mythical as they were 10 years ago, but they\u2019re still shrouded in fantasy. Last year, we put a <a href=\"https:\/\/endeavor.org\/catalyst\/unicorn-tracker\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">spotlight on global unicorns<\/span><\/a>\u2014the significant, growing number of privately-held companies with $1B+ valuations in Latin America, Africa, and other areas of the world. Now, we\u2019re taking a fresh look into the fables that surround unicorns and their founders in the United States and emerging markets.<br><br>\n\nWe\u2019ve all heard the legendary origin stories where founders drop out of college and bootstrap tech revolutions from their garages, but what are the real stories? What career pathways do successful founders of unicorns actually take? To find out, our Endeavor Insight research team compared the pathways between 100 of the top unicorn founders in the United States and 100 more in key emerging markets.<br><br>\n\nThough we studied top unicorns by their valuation in this study, valuation is not the sole measurement of success. Unicorns don\u2019t only scale up, they also pay it forward to future generations of entrepreneurs \u2014<span style=\"text-decoration: underline;\">\u00a0<a href=\"https:\/\/endeavor.org\/knowledge-center-events\/blog\/what-is-the-multiplier-effect\/\" target=\"_blank\" rel=\"noopener\">initiating a virtuous cycle we call the Multiplier Effect<\/a><\/span>. Nearly all of the unicorns in this study have inspired their employees to start their own companies, and many of the unicorn founders are mentors and angel investors. Below are other findings from our study.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3daddf6 elementor-align-center hs-cta-trigger-button hs-cta-trigger-button-120978269480 elementor-widget elementor-widget-button\" data-id=\"3daddf6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download the Data Explainer<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7e124a2 elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7e124a2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8c85c70\" data-id=\"8c85c70\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e30791 elementor-widget elementor-widget-heading\" data-id=\"7e30791\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">This research is<br>sponsored by<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-790dc12\" data-id=\"790dc12\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-552c72f elementor-widget elementor-widget-image\" data-id=\"552c72f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/elementor\/thumbs\/Alexia-Logo1-qcnb1wwhvhwrvyj4uj73gk4hul9jtjro85iyies5c0.png\" alt=\"Alexia Logo\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1262c051 elementor-section-full_width elementor-hidden-mobile elementor-section-height-default elementor-section-height-default\" data-id=\"1262c051\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c91357\" data-id=\"1c91357\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-476a0937 elementor-widget elementor-widget-html\" data-id=\"476a0937\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<!-- ! DESKTOP -->\r\n\r\n<style>\r\n    \/* @import url('https:\/\/fonts.googleapis.com\/css2?family=Inter:wght@100;200;300;400;500;600;700;800;900&display=swap'); *\/\r\n\r\n    @media screen and (min-width: 680px) {\r\n        #my-wrapper {\r\n            \/* margin-left: 5% !important; *\/\r\n            \/* width: 50vw !important; *\/\r\n            \/* width: 100vw !important; *\/\r\n            \/* pointer-events: none; *\/\r\n            position: relative;\r\n        }\r\n\r\n        .fl-scrolly-step {\r\n            \/* margin-left: 20% !important; *\/\r\n            width: 50vw !important;\r\n            border-radius: 0 !important;\r\n            \/* box-shadow: none !important; *\/\r\n            line-height: 1.2;\r\n            padding: 2em !important;\r\n            text-align: left !important;\r\n            font-size: 16px !important;\r\n        }\r\n\r\n        .scrolly-title {\r\n            display: block;\r\n            text-align: left;\r\n            justify-content: center;\r\n            font-weight: 400;\r\n            font-size: 19px;\r\n            \/* text-transform: uppercase; *\/\r\n            \/* font-family: Inter, sans-serif; *\/\r\n            font-family: endeavorFoundersGrotesk, sans-serif !important;\r\n\r\n        }\r\n\r\n        .scrolly-content {\r\n            font-weight: 400;\r\n            font-size: 16px;\r\n            line-height: 1.2;\r\n            font-family: Inter, sans-serif;\r\n\r\n        }\r\n\r\n        .desktop-coral {\r\n            \/* background-color: #FF784D; *\/\r\n            font-weight: 600;\r\n            color: black;\r\n        }\r\n\r\n        .desktop-teal {\r\n            \/* background-color: #09E1CD; *\/\r\n            font-weight: 500;\r\n            color: black;\r\n        }\r\n    }\r\n\r\n\r\n\r\n    @media screen and (max-width: 679px) {\r\n        #my-wrapper {\r\n            width: 100vw !important;\r\n            pointer-events: none;\r\n        }\r\n\r\n        .scrolly-desktop {\r\n            display: none;\r\n        }\r\n\r\n        .fl-scrolly-step {\r\n            width: 70vw !important;\r\n            border-radius: 0 !important;\r\n            box-shadow: none !important;\r\n            line-height: 1.2;\r\n        }\r\n    }\r\n<\/style>\r\n\r\n<style>\r\n    .fl-scrolly-step {\r\n        background: white !important;\r\n        color: black !important;\r\n        font-family: Inter, sans-serif;\r\n    }\r\n\r\n    .invisible {\r\n        opacity: 0 !important;\r\n    }\r\n\r\n    @font-face {\r\n        font-family: endeavorFoundersGrotesk;\r\n        src: url(\/wp-content\/themes\/heliotrope\/assets\/fonts\/FoundersGrotesk-Bold.woff2) format('woff2');\r\n        src: url(\/wp-content\/themes\/heliotrope\/assets\/fonts\/FoundersGrotesk-Medium.woff2) format('woff2');\r\n        src: url(\/wp-content\/themes\/heliotrope\/assets\/fonts\/FoundersGrotesk-Regular.woff2) format('woff2');\r\n        src: url(\/wp-content\/themes\/heliotrope\/assets\/fonts\/FoundersGrotesk-Semibold.woff2) format('woff2');\r\n    }\r\n<\/style>\r\n\r\n\r\n\r\n<div id=\"my-wrapper\" class=\"scrolly-desktop\" style=\"text-align: center;\">\r\n    <!-- ! Toggle Dropdown -->\r\n    <!-- <div class=\"dropdown\">\r\n        <button onclick=\"toggleDropdown()\" class=\"dropdown-btn\">\r\n            Legend\r\n        <\/button>\r\n        <div id=\"dropdown-content\" class=\"dropdown-content\">\r\n            <div class=\"row-dropdown\">\r\n                <div class=\"dropdown-column-left\">\r\n                    <p class=\"dropdown-text\">\r\n                        <span>This\r\n                            chart\r\n                            traces the pathways that 200\r\n                            founders took to achieving\r\n                            unicorn status. Each line\r\n                            represents a founder of a unicorn company in an emerging market or the United States. The\r\n                            oval\r\n                            nodes represent key experiences along their journey to founding their unicorn company.\r\n                            <br><br>We included emerging markets in Africa, Asia,\r\n                            Eastern Europe, and Latin America\u2014excluding the mature markets of China, India, Israel,\r\n                            Japan,\r\n                            Russia, Singapore, South Korea, and Taiwan. We tested 70 variables to identify the traits\r\n                            and\r\n                            experiences that US and emerging-market founders share, and those that set them apart.\r\n                            <br>\r\n                    <\/p>\r\n                <\/div>\r\n                <div class=\"dropdown-column-right\">\r\n\r\n                <\/div>\r\n            <\/div>\r\n        <\/div>\r\n    <\/div> -->\r\n\r\n    <div class=\"flourish-embed\" data-src=\"story\/1927792?1404471\" data-url=\"https:\/\/flo.uri.sh\/story\/1927792\/embed\"\r\n        data-height=\"100vh\">\r\n        <script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-1\">\r\n            <span class=\"scrolly-title\"><b>Endeavor Insight researched the career pathways of 200 unicorn\r\n                    founders.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">This chart traces the pathways that those 200 founders took to starting a\r\n                unicorn. Each line represents a founder of a unicorn company in an emerging market or the United States.\r\n                The oval nodes represent key experiences along their journey to founding their unicorn company. <\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-2\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Unicorn founders are global citizens.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Fifty-five percent of the top US unicorn founders are <span\r\n                    class=\"desktop-coral\">immigrants or second-generation\r\n                    immigrants<\/span>, and the top countries of origin for these entrepreneurs are India, Israel, China,\r\n                Ukraine, Canada and Russia. Entrepreneurial migration is a common phenomenon for emerging markets too.\r\n                Thirty-two percent of the top unicorn founders in emerging markets are immigrants or second-generation\r\n                immigrants.\r\n                Many of these are examples of South-South migration, like a founder moving across countries in Latin\r\n                America. Founders also develop a global perspective by <span class=\"desktop-coral\">studying or working\r\n                    abroad<\/span>. Sixty percent of the\r\n                founders included in this research studied or worked abroad, gaining valuable networks and\r\n                knowledge.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-3\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Only one third of top unicorn founders completed their bachelor\u2019s degree at an elite\r\n                    university.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Elite institutions are not as common among unicorn founders as you might\r\n                think. Nearly all (97 percent) of the 200 top founders we researched obtained a college diploma, but\r\n                only one third of\r\n                them <span class=\"desktop-coral\">received a bachelor\u2019s degree<\/span> from a top-ranked university. If\r\n                we add in master\u2019s programs and\r\n                PhDs, a little less than half of the founders completed study at such an institution.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-4\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Only 20 percent of unicorn founders worked for an elite employer.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Work experience at elite employers including <span class=\"desktop-coral\">Big\r\n                    Three consulting firms, MAMAA tech companies, and bulge bracket investment banks<\/span> was rare\r\n                among this cohort of entrepreneurs.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-5\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Half of these founders previously worked at a startup or scaleup.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Most of the world\u2019s successful unicorn founders did not have experience\r\n                working for name-brand employers. Usually, they <span class=\"desktop-coral\">worked for an\r\n                    entrepreneurial company<\/span> prior to launching their unicorn company. Many of these founders\r\n                served as C-suite executives of tech startups, or grew\r\n                from within the ranks as that entrepreneurial company went from startup to scaleup. A significant number\r\n                of those employers were unicorn companies themselves. In most cases, the\r\n                entrepreneurial employer had a successful exit, either by going public or being acquired. Aspiring\r\n                founders\r\n                who work for companies that have an exit like this gain invaluable first-hand experience.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-6\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    About half of these founders are serial entrepreneurs.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\"><span class=\"desktop-coral\">Previously founding a company<\/span> may be a\r\n                good resume builder for would-be\r\n                unicorns. About 49 percent started a business prior to launching their\r\n                unicorn company. On top of that, a majority of these serial entrepreneurs had successfully\r\n                exited.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-7\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    The average founder had 10 years of work experience.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">There are no shortcuts on the pathway to building a unicorn company. The\r\n                unicorn founders included in this study <span class=\"desktop-coral\">gained a decade\r\n                    of experience<\/span>\r\n                following their undergraduate education, on average. Several existing studies have shown that the\r\n                quintessential successful founder is\r\n                not particularly <a\r\n                    href=\"https:\/\/www.forbes.com\/sites\/kmehta\/2022\/08\/23\/older-entrepreneurs-outperform-younger-foundersshattering-ageism\/?sh=64e3533d7a36\"\r\n                    target=\"_blank\" style=\"color: black; text-decoration: underline\">young<\/a> or a <a\r\n                    href=\"https:\/\/www.entrepreneur.com\/business-news\/why-the-myth-of-the-college-dropout-billionaire-is-so\/345934\"\r\n                    target=\"_blank\" style=\"color: black; text-decoration: underline\">college dropout<\/a>. Endeavor\u2019s\r\n                research builds on these\r\n                findings, showcasing\r\n                that successful founders usually gain entrepreneurial experience and build networks over time.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-8\">\r\n            <span class=\"scrolly-title\"><b>Science and engineering training is far more common than\r\n                    business.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Sixty-one percent of founders <span class=\"desktop-coral\">majored in a science\r\n                    or engineering field in undergrad<\/span>,\r\n                compared to only 19 percent who majored in business. Computer science, electrical engineering, and\r\n                mathematics were popular majors among those with science or engineering degrees. <span\r\n                    class=\"desktop-coral\">Science and engineering graduate\r\n                    degrees<\/span> outpaced\r\n                MBAs among those who continued to\r\n                study, and for the 10 percent of founders who completed a PhD, most chose computer science.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-9\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Founders in emerging markets have different skill sets than their US counterparts, and reach unicorn\r\n                    status faster.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Emerging market founders were ten times more likely than US founders to have\r\n                previously worked in <span class=\"desktop-coral\">finance, consulting, business development, or\r\n                    marketing<\/span>. On the other hand, US founders were more likely to\r\n                have worked\r\n                in product and engineering roles. Another difference between the emerging market and US founders is how\r\n                fast they grow their companies. Founders in emerging markets achieved unicorn status for their companies\r\n                in\r\n                an average of five and a half years, while US founders took more than six years.<\/span>\r\n        <\/a>\r\n    <\/div>\r\n\r\n    <!-- <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-10\">\r\n            <span class=\"scrolly-title\"><b>Emerging market unicorns are more often solving real problems at scale,\r\n                    compared to US\r\n                    unicorns that tend to follow VC fads.\r\n                <\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">\r\n                There were high concentrations of e-commerce\/delivery, food & beverage, and fintech companies among the\r\n                <span class=\"desktop-teal\">emerging market unicorns<\/span>. In contrast, US unicorn founders tend to\r\n                operate companies in various high-tech sectors, including those arising from recent VC-driven fads such\r\n                as blockchain and cryptocurrency. Emerging market unicorns are creating widespread impact by improving\r\n                the daily lives of millions in areas such as transportation, logistics, nutrition, and finance. These\r\n                high-impact companies include Clip, Careem, and Rappi \u2014 whose founders took diverse paths to becoming\r\n                entrepreneurs.\r\n            <\/span>\r\n        <\/a>\r\n    <\/div>\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-11\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Clip is a Mexican fintech company, founded in 2012, that is digitizing payments and promoting\r\n                    financial inclusion.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Clip is empowering thousands of small vendors across the country to accept\r\n                digital payments, providing them with access to a wider range of clients and giving customers greater\r\n                flexibility. Founder <b>Adolfo Babatz<\/b> studied business\r\n                in Mexico for his undergraduate degree and\r\n                later\r\n                completed an MBA in the United States. He gained valuable experience working as a manager at PayPal\r\n                before launching Clip.\r\n            <\/span>\r\n        <\/a>\r\n    <\/div>\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-12\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Careem is a ridesharing and delivery company that was founded in 2012 in the United Arab\r\n                    Emirates.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Careem has improved the lives of over 50 million users across MENA by making\r\n                it easier for them to move around and to access food. The founding team of <b>Mudassir Sheikha<\/b>,\r\n                <b>Abdulla\r\n                    Elyas<\/b>, and <b>Karl Magnus Olsson<\/b> migrated\r\n                to the UAE before launching the company.\r\n                They each had\r\n                significant technical experience, with both undergraduate and graduate degrees in computer science. All\r\n                three\r\n                founders had previously worked at or launched their own entrepreneurial companies.\r\n            <\/span>\r\n        <\/a>\r\n    <\/div>\r\n    <div class=\"my-paragraph\"><a href=\"#story\/1927792\/slide-13\">\r\n            <span class=\"scrolly-title\"><b>\r\n                    Founded in 2015 in Colombia, Rappi is the leading commerce and food delivery platform in Latin\r\n                    America.<\/b><br><br><\/span>\r\n            <span class=\"scrolly-content\">Rappi is driving e-commerce adoption throughout the region, helping millions\r\n                of people obtain food, groceries, and other essentials more easily. Cofounders <b>Sim\u00f3n Borrero<\/b>,\r\n                <b>Sebasti\u00e1n Mej\u00eda<\/b>, and <b>Felipe Villamar\u00edn<\/b> had significant experience in business\r\n                development,\r\n                partnerships, and\r\n                strategy roles. Borrero and Mej\u00eda had founded multiple companies before Rappi, including Grability.\r\n                Villamar\u00edn joined them as a manager there, after which the three launched Rappi together.\r\n            <\/span>\r\n        <\/a>\r\n    <\/div> -->\r\n\r\n<\/div>\r\n\r\n\r\n<script src=\"https:\/\/cdn.flourish.rocks\/flourish-scrolly-v3.1.0.min.js\"><\/script>\r\n\r\n\r\n<script type=\"text\/javascript\">initFlourishScrolly({\r\n        offset_top: \"70px\",\r\n        step_styles: {\r\n        }\r\n    });<\/script>\r\n\r\n<!-- ! 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DESKTOP -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6fdd49f5 elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-widescreen elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6fdd49f5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22dda298\" data-id=\"22dda298\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-268e133 elementor-widget elementor-widget-image\" data-id=\"268e133\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/05\/Mobile-Legend.png\" alt=\"Mobile Legend\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26462f31 elementor-widget elementor-widget-image\" data-id=\"26462f31\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"1920\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/09\/200-Unicorns-Mobile-1-0405.png\" class=\"attachment-full size-full wp-image-415576\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e89deda elementor-widget elementor-widget-html\" data-id=\"1e89deda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<!-- ! MOBILE 1 -->\r\n\r\n<!-- 1 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Endeavor Insight researched the career pathways of 200 unicorn founders.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">This chart traces the pathways that those 200 founders took to starting a unicorn. Each\r\n        line represents a founder of a unicorn company in an emerging market or the United States. The oval nodes\r\n        represent key experiences along their journey to founding their unicorn company.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 2 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Unicorn founders are global citizens.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">Fifty-five percent of the top US unicorn founders are <span\r\n            class=\"mobile-hightlight-orange\" id=\"myBtn1\">immigrants or\r\n            second-generation\r\n            immigrants<\/span>, and the top countries of origin for these entrepreneurs are India, Israel, China,\r\n        Ukraine, Canada\r\n        and Russia. Entrepreneurial migration is a common phenomenon for emerging markets too. Thirty-two percent of the\r\n        top unicorn founders in emerging markets are immigrants or second-generation immigrants.\r\n        Many of these are examples of South-South migration, like a founder moving across countries in Latin\r\n        America. Founders also develop a global perspective by <span class=\"mobile-hightlight-orange\"\r\n            id=\"myBtn2\">studying or\r\n            working\r\n            abroad<\/span>. Sixty percent of the\r\n        founders included in this research studied or worked abroad, gaining valuable networks and\r\n        knowledge.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 3 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Only one third of top unicorn founders completed their bachelor\u2019s degree at an elite university.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Elite institutions are not as common among unicorn founders as you might\r\n        think. Nearly all (97 percent) of the 200 top founders we researched obtained a college diploma, but only one\r\n        third of\r\n        them <span class=\"mobile-hightlight-orange\" id=\"myBtn3\">received a bachelor\u2019s degree<\/span> from a top-ranked\r\n        university. If we add in master\u2019s programs and\r\n        PhDs, a little less than half of the founders completed study at such an institution.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 4 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Only 20 percent of unicorn founders worked for an elite employer.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Work experience at elite employers including <span class=\"mobile-hightlight-orange\" id=\"myBtn4\">Big\r\n            Three consulting firms, MAMAA tech companies, and bulge bracket investment banks<\/span> was rare among\r\n        this cohort of entrepreneurs.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 5 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Half of these founders previously worked at a startup or scaleup.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Most of the world\u2019s successful unicorn founders did not have experience\r\n        working for name-brand employers. Usually, they <span class=\"mobile-hightlight-orange\" id=\"myBtn5\">worked for an\r\n            entrepreneurial company<\/span> prior to launching their unicorn company. Many of these founders\r\n        served as C-suite executives of tech startups, or grew\r\n        from within the ranks as that entrepreneurial company went from startup to scaleup. A significant number of\r\n        those employers were unicorn companies themselves. In most cases, the\r\n        entrepreneurial employer had a successful exit, either by going public or being acquired. Aspiring founders who\r\n        work for companies that have an exit like this gain invaluable first-hand experience.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 6 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        About half of these founders are serial entrepreneurs.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        <span class=\"mobile-hightlight-orange\" id=\"myBtn6\">Previously founding a company<\/span> may be a\r\n        good resume builder for would-be\r\n        unicorns. About 49 percent started a business prior to launching their\r\n        unicorn company. On top of that, a majority of these serial entrepreneurs had successfully\r\n        exited.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 7 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        The average founder had 10 years of work experience.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        There are no shortcuts on the pathway to building a unicorn company. The\r\n        unicorn founders included in this study gained a decade of experience following their undergraduate education,\r\n        on average. Several existing studies have shown that the\r\n        quintessential successful founder is\r\n        not particularly <a\r\n            href=\"https:\/\/www.forbes.com\/sites\/kmehta\/2022\/08\/23\/older-entrepreneurs-outperform-younger-foundersshattering-ageism\/?sh=64e3533d7a36\"\r\n            target=\"_blank\" style=\"color: black; text-decoration: underline\">young<\/a> or a <a\r\n            href=\"https:\/\/www.entrepreneur.com\/business-news\/why-the-myth-of-the-college-dropout-billionaire-is-so\/345934\"\r\n            target=\"_blank\" style=\"color: black; text-decoration: underline\">college dropout<\/a>. Endeavor\u2019s research\r\n        builds on these\r\n        findings, showcasing\r\n        that successful founders usually gain entrepreneurial experience and build networks over time.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 8 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Science and engineering training is far more common than\r\n        business.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Sixty-one percent of founders <span class=\"mobile-hightlight-orange\" id=\"myBtn7\">majored in a science\r\n            or engineering field in undergrad<\/span>,\r\n        compared to only 19 percent who majored in business. Computer science, electrical engineering, and\r\n        mathematics were popular majors among those with science or engineering degrees. <span\r\n            class=\"mobile-hightlight-orange\" id=\"myBtn8\">Science and engineering\r\n            graduate\r\n            degrees<\/span> outpaced\r\n        MBAs among those who continued to\r\n        study, and for the 10 percent of founders who completed a PhD, most chose computer science.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 9 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Founders in emerging markets have different skill sets than their US counterparts, and reach unicorn status\r\n        faster.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Emerging market founders were ten times more likely than US founders to have previously worked in <span\r\n            class=\"mobile-hightlight-orange\" id=\"myBtn9\">finance, consulting, business\r\n            development, or\r\n            marketing<\/span>. On the other hand, US founders were more likely to\r\n        have worked\r\n        in product and engineering roles. Another difference between the emerging market and US founders is how fast\r\n        they grow their companies. Founders in emerging markets achieved unicorn status for their companies in\r\n        an average of five and a half years, while US founders took more than six years.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 10 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Emerging market unicorns are more often solving real problems at scale, compared to US unicorns that tend to\r\n        follow VC fads.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        There were high concentrations of fintech, e-commerce, and logistics\/transportation companies among the\r\n        <span class=\"mobile-hightlight-orange\" id=\"myBtn10\">emerging market unicorns<\/span>. In contrast, US unicorn\r\n        founders tend to\r\n        operate companies in various high-tech sectors, including those arising from recent VC-driven fads such as\r\n        blockchain and cryptocurrency. Emerging market unicorns tend to create a more widespread impact by improving the\r\n        daily lives of millions in areas such as financial inclusion, ride sharing, and super apps. These companies\r\n        include <span style=\"font-weight: bold;\">Clip<\/span>, <span style=\"font-weight: bold;\">Careem<\/span>, and <span\r\n            style=\"font-weight: bold;\">Rappi<\/span>. Their founders\u2019 pathways demonstrate many of the findings above.\r\n\r\n    <\/div>\r\n<\/div>\r\n\r\n\r\n<!-- The Modal for slide 1 -->\r\n<div id=\"myModal1\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>Immigrants and second-generation immigrants are depicted in the first two nodes in the chart above.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 2 -->\r\n<div id=\"myModal2\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>Studying or working abroad is depicted in the third node in the chart above.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 3 -->\r\n<div id=\"myModal3\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>Elite universities appear as the fifth node in the chart above.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 4 -->\r\n<div id=\"myModal4\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>These three types of elite employers appear as small nodes towards the bottom of the chart above.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 5 -->\r\n<div id=\"myModal5\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The second-to-last node in the chart above shows founders who previously worked at another entrepreneurial\r\n            company.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 6 -->\r\n<div id=\"myModal6\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The last node in the chart above shows those who previously founded another entrepreneurial company.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 7 -->\r\n<div id=\"myModal7\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>Science or engineering majors are depicted in a node towards the middle of the chart above, on the righthand\r\n            side.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 8 -->\r\n<div id=\"myModal8\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>Science or engineering grad degrees are depicted in a node towards the middle of the chart above, on the\r\n            lefthand side.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 9 -->\r\n<div id=\"myModal9\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>These prior roles appear in two nodes towards the bottom of the chart above.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 10 -->\r\n<div id=\"myModal10\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The teal lines in the chart above represent founders of unicorns in emerging markets.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n\r\n<style>\r\n    .mobile-container {\r\n        margin: 50px 20px 40px 20px;\r\n\r\n    }\r\n\r\n    .mobile-title {\r\n        display: block;\r\n        text-align: left;\r\n        justify-content: center;\r\n        font-weight: 500;\r\n        font-size: 24px;\r\n        \/* text-transform: uppercase; *\/\r\n        \/* font-family: Inter, sans-serif; *\/\r\n        font-family: endeavorFoundersGrotesk, sans-serif !important;\r\n      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overflow: auto;\r\n        \/* Enable scroll if needed *\/\r\n        background-color: rgb(0, 0, 0);\r\n        \/* Fallback color *\/\r\n        background-color: rgba(0, 0, 0, 0.4);\r\n        \/* Black w\/ opacity *\/\r\n    }\r\n\r\n    \/* Modal Content\/Box *\/\r\n    \/* .modal-content {\r\n        position: relative;\r\n        background-color: #fefefe;\r\n        margin: 25% auto;\r\n        padding: 8px 10px 0px 10px;\r\n        border: 4px solid #FF784D;\r\n        width: 80%;\r\n        box-shadow: 0 4px 8px 0 rgba(0, 0, 0, 0.2), 0 6px 20px 0 rgba(0, 0, 0, 0.19);\r\n        animation-name: animatetop;\r\n        animation-duration: 0.4s\r\n    } *\/\r\n\r\n    \/* .modal-content-2 {\r\n        position: relative;\r\n        background-color: white;\r\n        margin: 30% auto;\r\n        \/* 30% from the top and centered *\/\r\n    \/* padding: 10px 20px 0px 20px;\r\n    width: 80%; *\/\r\n    \/* Could be more or less, depending on screen size *\/\r\n    \/* box-shadow: 0 4px 8px 0 rgba(0, 0, 0, 0.2),\r\n    0 6px 20px 0 rgba(0, 0, 0, 0.19);\r\n    animation-name: animatetop;\r\n    animation-duration: 0.4s\r\n    } *\/\r\n\r\n    .modal-content {\r\n        position: relative;\r\n        background-color: white;\r\n        margin: 30% auto;\r\n        \/* 30% from the top and centered *\/\r\n        padding: 0px 10px 0px 10px;\r\n        width: 85%;\r\n        \/* Could be more or less, depending on screen size *\/\r\n        box-shadow: 0 4px 8px 0 rgba(0, 0, 0, 0.2), 0 6px 20px 0 rgba(0, 0, 0, 0.19);\r\n        animation-name: animatetop;\r\n        animation-duration: 0.4s\r\n    }\r\n\r\n\r\n    \/* .modal-content p {\r\n        font-family: Inter, sans-serif;\r\n        text-align: center;\r\n        padding-top: 5px;\r\n        line-height: 1.3 !important;\r\n    } *\/\r\n\r\n    \/* .modal-content-2 p {\r\n        font-family: Inter, sans-serif;\r\n        text-align: center;\r\n        padding: 5px 0px 20px 0px;\r\n        margin: 0px;\r\n        line-height: 1.3 !important;\r\n    } *\/\r\n    .modal-content p {\r\n        font-family: Inter, sans-serif;\r\n        text-align: center;\r\n        padding: 15px 20px 10px 20px;\r\n        margin: 0px;\r\n        line-height: 1.3 !important;\r\n    }\r\n\r\n    \/* The Close Button *\/\r\n    .close {\r\n        color: #aaa;\r\n        float: right;\r\n        font-size: 28px;\r\n        font-weight: bold;\r\n        padding-top: 5px;\r\n    }\r\n\r\n    .close:hover,\r\n    .close:focus {\r\n        color: black;\r\n        text-decoration: none;\r\n        cursor: pointer;\r\n    }\r\n\r\n    .popup-image {\r\n        width: auto;\r\n        height: auto;\r\n        padding-bottom: 10px;\r\n        \/* center the image *\/\r\n        margin-left: auto;\r\n        margin-right: auto;\r\n        display: block;\r\n\r\n\r\n    }\r\n\r\n    \/* Add Animation *\/\r\n    @keyframes animatetop {\r\n        from {\r\n            top: -300px;\r\n            opacity: 0\r\n        }\r\n\r\n        to {\r\n            top: 0;\r\n            opacity: 1\r\n        }\r\n    }\r\n<\/style>\r\n\r\n<!-- Script PopUp -->\r\n<script>\r\n    \/\/ PopUp 1\r\n    var modal1 = document.getElementById(\"myModal1\");\r\n    var btn1 = document.getElementById(\"myBtn1\");\r\n    var span1 = document.getElementsByClassName(\"close\")[0];\r\n    btn1.onclick = function () {\r\n        modal1.style.display = \"block\";\r\n    }\r\n    span1.onclick = function () {\r\n        modal1.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 2\r\n    var modal2 = document.getElementById(\"myModal2\");\r\n    var btn2 = document.getElementById(\"myBtn2\");\r\n    var span2 = document.getElementsByClassName(\"close\")[1];\r\n    btn2.onclick = function () {\r\n        modal2.style.display = \"block\";\r\n    }\r\n    span2.onclick = function () {\r\n        modal2.style.display = \"none\";\r\n    }\r\n\r\n\r\n    \/\/ PopUp 3\r\n    var modal3 = document.getElementById(\"myModal3\");\r\n    var btn3 = document.getElementById(\"myBtn3\");\r\n    var span3 = document.getElementsByClassName(\"close\")[2];\r\n    btn3.onclick = function () {\r\n        modal3.style.display = \"block\";\r\n    }\r\n    span3.onclick = function () {\r\n        modal3.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 4\r\n    var modal4 = document.getElementById(\"myModal4\");\r\n    var btn4 = document.getElementById(\"myBtn4\");\r\n    var span4 = document.getElementsByClassName(\"close\")[3];\r\n    btn4.onclick = function () {\r\n        modal4.style.display = \"block\";\r\n    }\r\n    span4.onclick = function () {\r\n        modal4.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 5\r\n    var modal5 = document.getElementById(\"myModal5\");\r\n    var btn5 = document.getElementById(\"myBtn5\");\r\n    var span5 = document.getElementsByClassName(\"close\")[4];\r\n    btn5.onclick = function () {\r\n        modal5.style.display = \"block\";\r\n    }\r\n    span5.onclick = function () {\r\n        modal5.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 6\r\n    var modal6 = document.getElementById(\"myModal6\");\r\n    var btn6 = document.getElementById(\"myBtn6\");\r\n    var span6 = document.getElementsByClassName(\"close\")[5];\r\n    btn6.onclick = function () {\r\n        modal6.style.display = \"block\";\r\n    }\r\n    span6.onclick = function () {\r\n        modal6.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 7\r\n    var modal7 = document.getElementById(\"myModal7\");\r\n    var btn7 = document.getElementById(\"myBtn7\");\r\n    var span7 = document.getElementsByClassName(\"close\")[6];\r\n    btn7.onclick = function () {\r\n        modal7.style.display = \"block\";\r\n    }\r\n    span7.onclick = function () {\r\n        modal7.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 8\r\n    var modal8 = document.getElementById(\"myModal8\");\r\n    var btn8 = document.getElementById(\"myBtn8\");\r\n    var span8 = document.getElementsByClassName(\"close\")[7];\r\n    btn8.onclick = function () {\r\n        modal8.style.display = \"block\";\r\n    }\r\n    span8.onclick = function () {\r\n        modal8.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 9\r\n    var modal9 = document.getElementById(\"myModal9\");\r\n    var btn9 = document.getElementById(\"myBtn9\");\r\n    var span9 = document.getElementsByClassName(\"close\")[8];\r\n    btn9.onclick = function () {\r\n        modal9.style.display = \"block\";\r\n    }\r\n    span9.onclick = function () {\r\n        modal9.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 10\r\n    var modal10 = document.getElementById(\"myModal10\");\r\n    var btn10 = document.getElementById(\"myBtn10\");\r\n    var span10 = document.getElementsByClassName(\"close\")[9];\r\n    btn10.onclick = function () {\r\n        modal10.style.display = \"block\";\r\n    }\r\n    span10.onclick = function () {\r\n        modal10.style.display = \"none\";\r\n    }\r\n\r\n\r\n\r\n\r\n    \/\/ When the user clicks anywhere outside of the modal, close it\r\n    window.onclick = function (event) {\r\n        if (event.target == modal1) {\r\n            modal1.style.display = \"none\";\r\n        }\r\n        if (event.target == modal2) {\r\n            modal2.style.display = \"none\";\r\n        }\r\n        if (event.target == modal3) {\r\n            modal3.style.display = \"none\";\r\n        }\r\n        if (event.target == modal4) {\r\n            modal4.style.display = \"none\";\r\n        }\r\n        if (event.target == modal5) {\r\n            modal5.style.display = \"none\";\r\n        }\r\n        if (event.target == modal6) {\r\n            modal6.style.display = \"none\";\r\n        }\r\n        if (event.target == modal7) {\r\n            modal7.style.display = \"none\";\r\n        }\r\n        if (event.target == modal8) {\r\n            modal8.style.display = \"none\";\r\n        }\r\n        if (event.target == modal9) {\r\n            modal9.style.display = \"none\";\r\n        }\r\n        if (event.target == modal10) {\r\n            modal10.style.display = \"none\";\r\n        }\r\n        if (event.target == modal11) {\r\n            modal11.style.display = \"none\";\r\n        }\r\n        if (event.target == modal12) {\r\n            modal12.style.display = \"none\";\r\n        }\r\n        if (event.target == modal13) {\r\n            modal13.style.display = \"none\";\r\n        }\r\n    }\r\n<\/script>\r\n\r\n<!-- ! MOBILE 1 -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-441ca9b9 elementor-widget elementor-widget-image\" data-id=\"441ca9b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/09\/Unicorn-Founder-Headshots.png\" alt=\"Unicorn Founder Headshots\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3aeeed5 elementor-widget elementor-widget-image\" data-id=\"3aeeed5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1080\" height=\"1920\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/09\/200-Unicorns-Mobile-2-0405.png\" class=\"attachment-full size-full wp-image-415577\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-501a2da0 elementor-widget elementor-widget-html\" data-id=\"501a2da0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<!-- ! MOBILE 2 -->\r\n\r\n<!-- 11 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Clip is a Mexican fintech company, founded in 2012, that is digitizing payments and promoting financial\r\n        inclusion.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Clip is empowering thousands of small vendors across the country to accept\r\n        digital payments, providing them with access to a wider range of clients and giving customers greater\r\n        flexibility. Founder <span class=\"mobile-hightlight-orange\" id=\"myBtn11\"><b>Adolfo Babatz<\/b><\/span> studied\r\n        business\r\n        in Mexico for his undergraduate degree and\r\n        later\r\n        completed an MBA in the United States. He gained valuable experience working as a manager at PayPal\r\n        before launching Clip.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 12 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Careem is a ridesharing and delivery company that was founded in 2012 in the United Arab Emirates.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Careem has improved the lives of over 50 million users across MENA by making\r\n        it easier for them to move around and to access food. The founders <span class=\"mobile-hightlight-orange\"\r\n            id=\"myBtn12\"><b>Mudassir Sheikha<\/b>,\r\n            <b>Karl Magnus Olsson<\/b>, and <b>Abdulla Elyas<\/b><\/span> migrated to the UAE and Saudi Arabia before the\r\n        launch of Careem. They each had\r\n        significant technical experience, with both undergraduate and graduate degrees in computer science. All\r\n        three\r\n        founders had previously worked at or launched their own entrepreneurial companies.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- 13 -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Rappi, founded in 2015 in Colombia, is the leading commerce and food delivery platform in Latin America.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        Rappi is driving e-commerce adoption in the region, helping millions of people obtain food, groceries, and other\r\n        essentials more easily. Cofounders <span class=\"mobile-hightlight-orange\" id=\"myBtn13\"><b>Sim\u00f3n Borrero<\/b>,\r\n            <b>Sebasti\u00e1n Mej\u00eda<\/b>, and <b>Felipe Villamar\u00edn<\/b><\/span> had experience in partnerships, strategy, and\r\n        software development roles. Borrero and Mej\u00eda founded multiple companies before Rappi, including\r\n        Grability. Villamar\u00edn joined them as the first employee there, after which the three launched Rappi.\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- additional -->\r\n<div class=\"mobile-container\">\r\n    <div class=\"mobile-title\">\r\n        Studying the journeys of successful founders unlocks a wealth of knowledge.\r\n        <br><br>\r\n    <\/div>\r\n    <div class=\"mobile-content\">\r\n        There is no gilded, shimmering pathway through life for all founders of the highest-valued unicorns. There are\r\n        many yellow brick roads to success, and this study has shown some clear differences between founders in emerging\r\n        markets and more mature entrepreneurial ecosystems like the United States. Much like our many <a\r\n            href=\"https:\/\/endeavor.org\/knowledge-center-events\/?_type=research-report\" target=\"_blank\" rel=\"noopener\"\r\n            style=\"color: black; text-decoration: underline\">studies on entrepreneurial ecosystems<\/a> that show how\r\n        they develop and vary between\r\n        regions, we are now tackling many subjects in our new research on the career pathways of founders around the\r\n        world.\r\n    <\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<!-- The Modal for slide 11 -->\r\n<div id=\"myModal11\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The black line in the chart above represents Adolfo Babatz's pathway to launching Clip.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 12 -->\r\n<div id=\"myModal12\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The orange lines in the chart above represent these founders' pathways to launching Careem.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n<!-- The Modal for slide 13 -->\r\n<div id=\"myModal13\" class=\"modal\">\r\n    <!-- Modal content -->\r\n    <div class=\"modal-content\">\r\n        <span class=\"close\">&times;<\/span>\r\n        <p>The purple lines in the chart above represent these founders' pathways to launching Rappi.<br><\/p>\r\n    <\/div>\r\n<\/div>\r\n\r\n\r\n<script>\r\n\r\n    \/\/ PopUp 11\r\n    var modal11 = document.getElementById(\"myModal11\");\r\n    var btn11 = document.getElementById(\"myBtn11\");\r\n    var span11 = document.getElementsByClassName(\"close\")[10];\r\n    btn11.onclick = function () {\r\n        modal11.style.display = \"block\";\r\n    }\r\n    span11.onclick = function () {\r\n        modal11.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 12\r\n    var modal12 = document.getElementById(\"myModal12\");\r\n    var btn12 = document.getElementById(\"myBtn12\");\r\n    var span12 = document.getElementsByClassName(\"close\")[11];\r\n    btn12.onclick = function () {\r\n        modal12.style.display = \"block\";\r\n    }\r\n    span12.onclick = function () {\r\n        modal12.style.display = \"none\";\r\n    }\r\n\r\n    \/\/ PopUp 13\r\n    var modal13 = document.getElementById(\"myModal13\");\r\n    var btn13 = document.getElementById(\"myBtn13\");\r\n    var span13 = document.getElementsByClassName(\"close\")[12];\r\n    btn13.onclick = function () {\r\n        modal13.style.display = \"block\";\r\n    }\r\n    span13.onclick = function () {\r\n        modal13.style.display = \"none\";\r\n    }\r\n\r\n<\/script>\r\n\r\n<!-- ! MOBILE 2 -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2316579 elementor-section-full_width elementor-hidden-mobile elementor-section-height-default elementor-section-height-default\" data-id=\"2316579\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d4311d2\" data-id=\"d4311d2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-60f0da2a elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"60f0da2a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-62ce3570\" data-id=\"62ce3570\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-51c6af99 elementor-widget elementor-widget-heading\" data-id=\"51c6af99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Emerging market unicorns are more often solving real problems at scale, compared to U.S. unicorns that tend to follow VC fads.<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4bd2f716 elementor-widget elementor-widget-text-editor\" data-id=\"4bd2f716\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>There were high concentrations of fintech, e-commerce, and logistics\/transportation companies among the emerging market unicorns. In contrast, US unicorn founders tend to operate companies in various high-tech sectors, including those arising from recent VC-driven fads such as blockchain and cryptocurrency. Emerging market unicorns tend to create a more widespread impact by improving the daily lives of millions in areas such as financial inclusion, ride sharing, and super apps. These companies include <strong>Clip<\/strong>, <strong>Careem<\/strong>, and <strong>Rappi<\/strong>. Their founders\u2019 pathways demonstrate many of the findings above.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-31eafb36\" data-id=\"31eafb36\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7be177d9 elementor-widget elementor-widget-heading\" data-id=\"7be177d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Studying the journeys of successful founders unlocks a wealth of knowledge.<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-729c4964 elementor-widget elementor-widget-text-editor\" data-id=\"729c4964\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>There is no gilded, shimmering pathway through life for all founders of the highest-valued unicorns. There are many yellow brick roads to success, and this study has shown some clear differences between founders in emerging markets and more mature entrepreneurial ecosystems like the United States. Much like our many <span style=\"text-decoration: underline;\"><a href=\"https:\/\/endeavor.org\/knowledge-center-events\/?_type=research-report\" target=\"_blank\" rel=\"noopener\">studies on entrepreneurial ecosystems<\/a><\/span> that show how they develop and vary between regions, we are now tackling many subjects in our new research on the career pathways of founders around the world.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b64d49c elementor-section-full_width elementor-hidden-mobile elementor-section-height-default elementor-section-height-default\" data-id=\"6b64d49c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-29d437d3\" data-id=\"29d437d3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ce86c1d elementor-widget elementor-widget-html\" data-id=\"5ce86c1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<!-- ! DESKTOP CASE STUDY -->\r\n<span class=\"desktop-hide\" style=\"display:block; height: 10px;\"><\/span>\r\n<div class=\"flourish-embed\" data-src=\"story\/1965438?1404471\">\r\n    <script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script>\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3fee6974 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"3fee6974\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-79677814\" data-id=\"79677814\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-72607aad elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"72607aad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-699a9f1c elementor-widget elementor-widget-image\" data-id=\"699a9f1c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/05\/Pathways-Mock-v3.png\" alt=\"Pathways Mock\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4270ebab elementor-widget elementor-widget-spacer\" data-id=\"4270ebab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-76f5fe6c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"76f5fe6c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2300e249\" data-id=\"2300e249\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-237f745d elementor-widget elementor-widget-heading\" data-id=\"237f745d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Learn More About Our Methodology and Findings<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5fe836da elementor-widget elementor-widget-text-editor\" data-id=\"5fe836da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This PDF includes the full list of founders included in the study, detailed methodology, and additional findings. Click the button below and complete the form to receive your copy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1db58fbd elementor-align-center hs-cta-trigger-button hs-cta-trigger-button-120978269480 elementor-widget elementor-widget-button\" data-id=\"1db58fbd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download the Data Explainer<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59bd2ab7 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" 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access our published studies.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ede1a65 premium-type-row elementor-widget__width-auto elementor-widget elementor-widget-premium-icon-list\" data-id=\"2ede1a65\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;rbadges_repeater&quot;:[]}\" data-widget_type=\"premium-icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<ul class=\"premium-bullet-list-box\">\n\t\t\t\t\n\t\t\t\t\t\t\t<li class=\"premium-bullet-list-content elementor-repeater-item-8bd8d6d\">\n\t\t\t\t\t\t\t\t<div class=\"premium-bullet-list-text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-bullet-list-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-drawable-icon\"><i class=\"premium-svg-nodraw fas fa-external-link-alt\" aria-hidden=\"true\"><\/i><\/div>\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"premium-bullet-list-text-wrapper\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"premium-bullet-text\" data-text=\"Learn More\"> Learn More <\/span>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"premium-bullet-list-link\" aria-label=\"Learn More\" href=\"https:\/\/endeavor.org\/insight\/\" target=\"_blank\">\n\t\t\t\t\t\t\t\t\t\t<span>Learn More<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/li>\n\n\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b64b1fb elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3b64b1fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Where Do Unicorns Come From? September 21, 2023 Studying the Career Journeys of the Top $1+ Billion Founders Billion-dollar unicorns aren\u2019t as mythical as they were 10 years ago, but they\u2019re still shrouded in fantasy. Last year, we put a spotlight on global unicorns\u2014the significant, growing number of privately-held companies with $1B+ valuations in Latin&hellip;<\/p>\n","protected":false},"author":33,"featured_media":408982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[149],"class_list":["post-402995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-report","region-africa","region-asia","region-europe","region-global","region-latin-america","region-middle-east","region-us-canada"],"acf":[],"yoast_head":"<title>Where Do Unicorns Come From? - Endeavor<\/title>\n<meta name=\"description\" content=\"Endeavor Insight studied the career journeys of founders from the top $1+ billion companies in emerging markets and the United States.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/endeavor.org\/stories\/unicorn-founder-pathways\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Do Unicorns Come From?\" \/>\n<meta property=\"og:description\" content=\"Endeavor Insight studied the career journeys of founders from the top $1+ billion companies in emerging markets and the United States.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/endeavor.org\/stories\/unicorn-founder-pathways\/\" \/>\n<meta property=\"og:site_name\" content=\"Endeavor\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-21T11:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-05T20:03:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/endeavor.org\/wp-content\/uploads\/2023\/09\/WheredoUnicorns_Header-01-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1397\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Endeavor Insight\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@endeavor_global\" \/>\n<meta name=\"twitter:site\" content=\"@endeavor_global\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Endeavor Insight\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/\"},\"author\":{\"name\":\"Endeavor Insight\",\"@id\":\"https:\\\/\\\/endeavor.org\\\/#\\\/schema\\\/person\\\/ee2655e53cee8896755596a0ef98af58\"},\"headline\":\"Where Do Unicorns Come From?\",\"datePublished\":\"2023-09-21T11:00:08+00:00\",\"dateModified\":\"2024-04-05T20:03:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/\"},\"wordCount\":2540,\"publisher\":{\"@id\":\"https:\\\/\\\/endeavor.org\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/endeavor.org\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/WheredoUnicorns_Header-01-scaled.jpg\",\"articleSection\":[\"Research\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/\",\"url\":\"https:\\\/\\\/endeavor.org\\\/stories\\\/unicorn-founder-pathways\\\/\",\"name\":\"Where Do Unicorns Come From? 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