With its 10-year anniversary on the horizon, Endeavor Midwest will have a change in leadership as Jackson Andrews, the organization’s founding managing director, will step down at the end of the year.
The news initially came out on Monday attached at the bottom of a news release that touted some of the accomplishments of Endeavor Midwest, which, as part of a 43-country network — and one of eight U.S. regions — of Endeavor Global, seeks out venture capital opportunities in Kentucky, Indiana and Ohio.
The 50 companies the organization currently supports through three different programs tend to lean toward tech startups with high growth potential (El Toro, Interapt, RxLightning, SkuVault and HANDLE Global, to name a few), but also include NuLu-based Rabbit Hole Distillery. All of those companies mentioned have also achieved the distinction of being named Endeavor Global Entrepreneurs.
In the last year alone, companies backed by Endeavor Midwest generated $345 million in collective revenue and employed approximately 2,000 people.
In a recent interview with Louisville Business First, Andrews spoke about his departure, among other topics.
He said he knew when he founded the organization 10 years ago that his role was not one of career-length permanence. He started talking with his board members in the fourth quarter of last year to map out transition scenarios.
“It was always known, it’s not a forever job — and it shouldn’t be a forever job,” Andrews said.
Given that he still has several months remaining in his role, Andrews said he had a hard time thinking about the legacy that he will leave.
“It’s no one thing. It’s the body of work — and the proof point is that there are great entrepreneurs and great companies here,” said Andrews, adding that a 10-year impact report should be released in the third quarter. “From the board’s perspective, they’re great leaders who are paying it forward and reinvesting in the next generation. We’ve proven that this region can compete, engage and grow quickly in this national and global network.”
The Endeavor Midwest board includes Ron Turnier, president, WhatChefsWant; Ankur Gopal, founder and CEO, Interapt; Brian Brackeen, general partner, Lightship Capital; Joe Kelley, president and CEO of Kelley Construction; Brook Smith, founder and CEO, Smith Manus Surety Bonds; Matt Thornton, founder and partner, Thornton Capital; Greg Pope, Louisville office managing partner, Ernst & Young; Stacy Griggs, CEO, El Toro; Kaveh Zamanian, founder and CEO, Rabbit Hole Distillery, Kim Halbauer, Kentucky regional president, Fifth Third Bank; Doug Grissom, managing director, Madison Dearborn Partners and Andy Eastes, SkuVault co-founder and chief strategy officer, Linnworks.
These days, most of the collective effort of Andrews and his team is going toward preparations to host Endeavor’s next National Selection Panel from April 17-19, when selected founders will interact with Endeavor board members, investors, mentors and other members of the business community representing all eight U.S. regions. The event will take place at Interapt’s main offices located at 552 E. Market St.
It is the first time that Louisville has served as the host of the event. In 2018, the city was the site of the international version of the event, held right after the Kentucky Derby.
Nationwide search begins
Andrews added Endeavor Midwest is at “day zero” of “professional and national open search process” to help select his successor over the next several months.
The main criteria, he said, to be eligible is the need to be based within Endeavor Midwest’s region. A native Louisvillian, Jackson has been based in Derby City since the start, with team members stationed in Indianapolis and Cincinnati.
“There’s a clear emphasis and gravity towards Louisville,” Andrews said of the desired home base of the next managing director. “There’s no way around that. We’re open to other markets that we operate in, but our center of gravity is here.”
The selected candidate is scheduled to be unveiled at a formal event celebrating the organization’s’ 10-year anniversary — on a to-be-determined date in either late November or early December.
“They’ll have a clean springboard to take the organization for the next 10 years, and that’s what we want, not just for the organization, but for the next leader. Nobody wants the previous CEO hanging over their shoulder,” Andrews said with a chuckle.
At that time, Andrews also plans to share details about the next chapter of his career.
“When I pass the torch,” he said.
