McClure's Pickles, Algal Scientific chosen as first Endeavor Detroit entrepreneurs

[USA] Hamtramck-based McClure’s Pickles and Plymouth-based Algal Scientific Corp. have been named the first Endeavor Entrepreneurs by the nonprofit Endeavor Detroit, a designation that means they will be able to boost their businesses by meeting local and international business mentors and volunteers from Fortune 500 consulting firms.

The two companies are among the 34 “high-impact entrepreneurs representing 23 companies from 15 countries,” according to an announcement on the Endeavor website. Endeavor is a New York-based nonprofit that helps support companies on the brink of rapid growth; it opened an office in Detroit earlier this year. Endeavor also has a Miami office.

Companies were chosen at a panel Aug. 5–7 in San Francisco, where Endeavor has a support office.

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In 2013, Endeavor-supported companies generated $6.8 billion in revenue; firms grow by an average of 68 percent after their first year, and 400,000 jobs have been created since 1997.

Endeavor Detroit Director Antonio Luck was not available to comment Wednesday.

“The amazing entrepreneurs and high-impact businesses we saw this week demonstrate all of the entrepreneurial potential still waiting to be uncovered around the world,” Linda Rottenberg, co-founder and CEO of Endeavor, said in the announcement.

McClure’s produces pickled products, salty snacks, adult beverages and mixers for drinks such as Bloody Marys from locally sourced ingredients. “McClure’s is at the forefront of the movement to redefine food from a commodity to an experience,” the announcement said.

Algal Scientific is a manufacturer of algae-based chemicals for the food and beverage industries. It uses the immune-boosting power of algae to support animal health and growth without the use of antibiotics. Earlier this year, it closed on a Series B funding round of $7 million.

Endeavor made its way to Detroit through Dave Egner and the New Economy Initiative, which receives some of its funding from the Miami-based John S. and James L. Knight Foundation. NEI invested $1 million to bring the program to Detroit, and the Grand Rapids-based Dick and Betsy DeVos Family Foundation invested another $500,000.

View original article at: McClure’s Pickles, Algal Scientific chosen as first Endeavor Detroit entrepreneurs

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