How do I participate?
The Ernst & Young Entrepreneur Of The Year (EOY) award honors entrepreneurs whose ingenuity, hard work and perseverance have created and sustained successful, growing business ventures. Founded in a small-midwestern US city in 1986, the program has grown to become the only worldwide award event of its kind.
Eligibility. Owner/manager of a private or public company who is primarily responsible for the recent performance of the company or organization and an active member of top management.
Nominations. Nominations can be submitted by anyone who has an interest in honoring an entrepreneur they know or work with, such as a banker, lawyer, and even family members.
Judging Panel. Independent judging panels are established in each country to select the finalists and winners from the group of nominations received. The judging panel provides the selection process with the independence required for the program. The judges are highly visible and respected leaders in their communities, representing past Entrepreneur Of The Year role winners, CEOs, civic organizations, business media, and/or civic leaders.
Criteria
- Entrepreneurial spirit: commitment, vision, calculated risk-taking, capacity for personal growth. Demonstrates perseverance in the face of adversity and to overcoming obstacles. Has tasted significant disappointments and learned from experiences. While he/she relies on trusted individuals and the team, also shows capacity to be an independent thinker and to take risks in the face of uncertainty.
- Financial performance: return on equities, revenues, profitability, and growth rate indicating long-term sustainability. This is reflected in the strength of the organization’s financial performance today; the track record in raising finance; the quality of past investments; and the provision in place for long term sustainability.
- Strategic direction: creates and turns business visions into business realities. Builds and rebuilds the teams’ commitment to the common goals. Demonstrates entrepreneurial maturity by building strategic alliances and surrounding him/herself with talented people — individuals, teams, the Board, and a range of advisers/allies to ensure success for all.
- Community/global impact: making an impact in terms of job creation and improved living economics in their own community and globally if business has expanded successfully overseas.
- Innovation: pioneers a new approach or technology. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement and innovation in all aspects of the business. Creates a culture of innovation.
- Personal integrity/influence: living their values has earned him/her great respect from staff, competitors, advisers, family and wider community. Coupled with the ability to communicate ideas, this creates the potential to influence others.
Awards ceremony. Award ceremonies are conducted (generally black-tie) in one or more cities in the participating countries. Each country may honor several individuals in a number of industry categories, such as technology, health sciences, and services. All countries honor one individual as their country’s overall Entrepreneur Of The Year to represent their country at the World Entrepreneur Of The Year Awards.