What is the World Entrepreneur Of The Year Award?

The World Entrepreneur Of The Year Award is now in its 12th year. The program was created by Ernst & Young to recognize the accomplishments of entrepreneurs around the world. It builds on Ernst & Young's more than 20 years of success in running Entrepreneur Of The Year® Award programs in many countries. In 2012, 49 country winners will be inducted in to the World Entrepreneur Of The Year Academy and compete for the Ernst & Young World Entrepreneur Of The Year title in Monte Carlo from 7 to 9 June.

What is the difference between the Entrepreneur Of The Year Award and the World Entrepreneur Of The Year Award?

Nominees in each country who are vying for the Entrepreneur Of The Year Award start at a regional level. Regional award winners are announced in several categories. Each regional winner competes for the country’s national Entrepreneur Of The Year Award. Each country Entrepreneur Of The Year winner is eligible to join other country winners to compete for the World Entrepreneur Of The Year Award.

When was the program started?

The Entrepreneur Of The Year program began in the United States in 1986, and we continue to expand the program internationally.

How many countries are participating in the 2012 World Entrepreneur Of The Year Awards?

Entrepreneur Of The Year winners is held in more than 140 cities in 51 countries. For the first time, Oman, Qatar, UAE  and Vietnam are participating in the program.

Why did Ernst & Young establish the Entrepreneur Of The Year program?

We started the program to recognize the world’s most successful and innovative entrepreneurs. By identifying and recognizing the achievements of outstanding entrepreneurs within successful growing, dynamic businesses, we aim to encourage entrepreneurial activity around the world.

We work with great entrepreneurs at every level of society: fresh thinkers at global corporations, visionaries at pre-IPO firms and social entrepreneurs working on society’s most pressing problems. We have learned a great deal from these interactions and recognize that entrepreneurialism isn’t about size; it’s about a state of mind. We believe it’s something that all businesses can — and should — embrace.

We want to encourage people around the world to think about what it takes to be an entrepreneur and how we can create an environment where innovation and creativity can thrive. The Entrepreneur Of The Year and World Entrepreneur Of The Year programs are a natural extension of this commitment.

How does an entrepreneur get to the World Entrepreneur Of The Year Award level?

The nomination process begins at the regional level in most countries. Regional winners are then eligible for their country’s national Entrepreneur Of The Year Award. All country winners are then eligible for the World Entrepreneur Of The Year Award. There is no separate nomination process for the World Entrepreneur Of The Year Award, since all the World Entrepreneur Of The Year candidates qualify on the basis of being the current Entrepreneur Of The Year country winner.

Will there be awards given in different categories?

No, but all of the country winners will be recognized for their entrepreneurial achievements and inducted into the World Entrepreneur Of The Year Academy. Following the induction ceremony, one winner will be announced as the World Entrepreneur Of The Year 2012.

How is the winner selected?

Each member of the World Entrepreneur Of The Year independent judging panel receives a detailed packet of information on each of the country winners in advance of the judging session. After a private meeting of the winners and judges while in Monte Carlo, the panel convenes on Saturday morning to discuss each candidate’s qualifications and to select the World Entrepreneur Of The Year 2012. The winner is announced at the black-tie award ceremony on Saturday evening.

How do you ensure the judging process is unbiased?

As most of the judges are past country winners of the Entrepreneur Of The Year Award, we believe they understand the importance of an unbiased and fair selection process to uphold the integrity of the program. Judges are rotated from year to year to ensure fresh thinking and enthusiasm in the judging process.

Who is on the independent judging panel for the World Entrepreneur Of The Year Award?

This year, the World Entrepreneur Of The Year judging panel will be chaired by Ruben Vardanian, President, Troika Dialog and Co-head, Corporate Investment Unit, Sberbank. Ruben will facilitate discussions with members of the judging panel to ensure all of the candidates are reviewed and considered for this year's World Entrepreneur Of The Year. Full biographies of all judges are available in the media kit.

How can companies with vastly different business philosophies and turnover be judged against each other?

The award is given on the basis of six criteria allowing all country winners an equal opportunity to compete: entrepreneurial spirit, financial performance, strategic direction, innovation, global impact and personal integrity/influence.