The global nonprofit Endeavor tapped a Miami-based food and beverage company on Friday to join its network that will help the young company grow.
Pincho Factory is now the 15th Endeavor company from Miami, after being selected into the program at Endeavor Global’s 66th International Selection Panel in Boston this week. Endeavor, a global nonprofit that selects, mentors and accelerates high-impact entrepreneurs from all industries, opened its Miami office with Knight Foundation support in 2013. Endeavor Entrepreneurs receive services that include mentorship and access to capital, global markets and talent.
Pincho Factory, a fast-casual restaurant chain created by cousins Nedal Ahmad, Otto Othman and Nizar Ahmad in 2010, brings street food to a casual setting. The name comes from pinchos or kebabs which, along with hamburgers, are the company’s signature menu items. Pincho Factory, with about 150 employees, has already expanded to six locations in South Florida and one in Orlando, and has 15 stores in the pipeline. In 2015, Pincho Factory brought in about $3 million in revenue and projections for this year are to triple that figure, due to new restaurant openings and impressive traffic gains at existing stores, the company said in a Miami Herald article in July.
“We have big plans for the future, and with Endeavor’s world-class mentorship opportunities and resources, we know that Pincho Factory will continue to thrive in Miami and beyond,” Othman said on Friday.
Never miss a local story.
Pincho Factory joins a growing number of food and beverage startups in Miami that are gaining traction. In addition to Pincho, three other local food-related companies — DeliverLean, My Ceviche and ginnybakes — are in the Endeavor global network, and more are in the pipeline, said Laura Maydón, managing director of Endeavor Miami. “We’re looking forward to offering them a suite of services to help them accelerate their growth.”
In an Endeavor Miami study last year, Endeavor found that food and beverage is one of five areas that could sizzle for entrepreneurial activity in South Florida because the ingredients are already here. There’s a foodie culture here, expertise, a talent base and educational opportunities to augment progress, as well as a strong healthy and green trend to ride upon, the report found.
Endeavor’s ISP is the culmination of a rigorous three-day selection process. Steve McKean, a serial entrepreneur and Endeavor Miami mentor, participated as an ISP panelist. Selected Endeavor Entrepreneurs from around the world receives unanimous votes from their panels. “The founders of this company embody what it means it be an Endeavor Entrepreneur: innovative, forward-thinking and eager to foster the growth of our Miami entrepreneurial ecosystem,” said Matt Haggman, Knight Foundation’s Miami program director and Endeavor Miami board member.
In all, 34 Endeavor Entrepreneurs worldwide were selected in Boston on Friday to join the network. Endeavor Global supports more than 1,200 high-impact entrepreneurs from over 780 companies across 25 countries. To nominate a South Florida company, visit www.endeavormiami.org.
Nancy Dahlberg: 305-376-3595; @ndahlberg