Frequently asked questions

Who can be nominated?

A nominee must be:

• Indonesian (WNI)
• An owner or CEO or equivalent, who’s primarily responsible for the recent performance of the company. *EOY accepts more than one nomination from the same company. (i.e.: Founder/CEO with the co-founder). 
• The company is running and operating in Indonesia
• The company must be at least 2 to 3 years in operation
• The nominee should provide 2 to 3 years audited financial statements of the company
• Previous finalists of EY Entrepreneur Of The Year may be nominated again for the program after a 1-year gap
• Once selected as finalists, entrepreneurs are required to attend the EOY range of events – either online and/or offline – covering Onsite Filming and Partner Interview, Judges One-on-One Interview, and Awards Gala.

Who can submit a nomination?

• Anyone who is associated with the entrepreneur in some capacity (EY professional, employee, banker, lawyer, manager, spouse, friends) can submit a nomination. You (the entrepreneur) can even nominate yourself. After all, who knows your success story better than you?

Is there a fee to nominate?

• The program is free.

What if I don’t have time to complete all the required information?

You may delegate the preparation of the nomination responses to someone in your organization, such as the PR and Marketing department that may have already compiled most of the required documents and information.

If you are selected as a finalist, your commitment will be:

• EY Partner On-site Visit and Interview in September, to get to know you and your business better. The report from the visit will be used and read by the independent panel of judges.
• Profile filming by EY and production house team in September, to capture your thoughts and personality as an entrepreneur.
• An hour interview with the Independent Panel of Judges in early November.
• An evening awards ceremony in November.

Is the nomination form confidential? Who has access to the financials?

• All information provided in the nomination form or otherwise will be reviewed by the EY Entrepreneur Of The Year organizers and shared with the independent judges. Financial information (i.e. specific financial information other than information described in a range) will only be shared with the independent judges, who sign a confidentiality agreement and do not retain any documentation, and with the EY principals involved in the EY Entrepreneur Of The Year Awards program. No detailed financial information will be shared with the program sponsors.
• In our promotional materials, we may refer to your participation in the program and include the brief corporate description you provide. Any other public disclosure of information will not be made without your consent.
• The completeness with which the nomination form is prepared will have a material bearing on whether you advance to finalist status.

Is the financial information necessary?

• Yes, we do need the financial information. Entrepreneur Of The Year is designed to honor business success, so we need measurable criteria. In other words, the company must demonstrate some quantitatively measured success or sustainability.

The financial status of my company is confidential, and I can’t release this information. Can I still compete?

• Historically, the majority of nominees have represented private companies with confidential financial information. The limited financial information requested is confidential and the judging process is objective. Financial information will be used to compute growth ratios, return on investment, etc. Please complete the form in its entirety and describe your company growth as accurately as possible.

Does my company have to be privately owned?

• No. If your company went public and the founder/CEO/CEO-equivalent is still active in management, you qualify. If the founder has no equity remaining in the public company, the story needs to be reviewed to determine if he or she is considered a professional manager rather than an entrepreneur.

What if our company has multiple founders?

• Multiple-nominee applications are acceptable but must include information for each individual nominee.

My company has been in business for over 20 years, and I was not the founder. Would I qualify as an entrepreneur?

Entrepreneur Of The Year honors individuals primarily responsible for the growth of the business, whether they are the founder or the current CEO or CEO-equivalent. The intent is to recognize the creativity, drive and hard work of business leaders.

If you’re not the original founder, we'll look at what you've done since taking the reins for at least 5 years in the position. Many winners have been second- or third-generation entrepreneurs.

What are the award categories?

Besides the primary award of Indonesia Entrepreneur Of The Year and the special honorary award such as Lifetime Achievement Award, there are category awards presented to the finalists. The category awards given are dependent on the entrepreneurial aspects of the finalists each year.

Final determination of the category awards to be presented will be decided by the Independent Panel of Judges.

Who selects the finalists and recipients?

EY internal committee and management will select the shortlisted finalists. Meanwhile, independent panel of judges comprising fellow entrepreneurs, past EY Entrepreneur Of The Year Award recipients, and leading figures from the business and academic communities will select the award recipients.

What criteria do the judges consider?

The independent judging panel considers great businesses and personal accomplishments under the below criteria:

Entrepreneurial spirit

• Identifies opportunities to innovate and create a better world
• Takes risks to realize their vision
• Demonstrates courage, perseverance, and resilience to overcome significant obstacles

Purpose

• Commit themselves and their organization to an inspiring purpose and vision
• Drives strategies for a sustainable future business
• Creates and protects value in the long term, across a broad group of stakeholders and ecosystems (e.g.; consumers, employees, suppliers, government, communities, investors, and shareholders)
  

Growth

• Increases market share and expands into new markets
• Drives positive financial performance
• Invests in attracting, developing, and retaining a diverse mix of talent
• Builds a culture of innovation that pioneers new approaches or technologies
  

Impact

• Positively impacts the customers they serve
• Integrates sustainable Environmental, Social and Governance (ESG) practices in their strategy with robust commitments and executions plans
• Focuses on diversity and inclusion across multiple dimensions

Why would I want to participate?

Participation in Entrepreneur Of The Year offers a number of potential benefits, including the following:

• A boost to your corporate reputation — an advantage perk for your PR, marketing, recruitment and retention efforts, and for relations with your investors and customers
• Media exposure — locally, regionally and even nationally — and other enhanced publicity
• Heightened morale across your organization
• Significant networking opportunities with industry leaders, other successful entrepreneurs, program sponsors, judges and EY professionals