EY Entrepreneurs Access Network
Minority-owned companies contribute greatly to the US economy (4.7 million jobs) and capital market ($700b annual revenue). But many Black and Latino businesses do not reach their full potential due to coaching, connections, curriculum and capital barriers. EY Entrepreneurs Access Network (EAN) helps Black- and Latino-owned companies address the disparity gap for greater growth. Review the EAN annual report showcasing the impacts and successes of the inaugural EAN cohort.
Mentored businesses survive longer than five years ¹
Black inherited wealth/connections compared to 26% non-minority²
Latino US adults over 25 with a bachelor’s degree or higher³ compared to 45% non-minority
Total US venture dollars raised for Black and Latino founders in 2020⁴
Linking Black and Latino leaders to resources, networks and 1:1 coaching to help bridge the disparity gap
[EAN] has meant a lot to me because of the opportunity to connect with other entrepreneurs and learn from industry leaders.
Daniela Salazar | CEO
The EAN program draws the most driven, forward-thinking, connected, and engaging business owners together and creates a community.
Karla Trotman | President
Electro Soft Inc.
I am confident with my [EAN advisor] we can use information [gained] to make better financial decisions as we scale.
Javier Diaz | CEO
Addressing the imbalance of traditional funding support to excluded, yet high-impacting, businesses
owned businesses fully approved for loans or lines of credit
If networking and funding barriers for Black and Latino entrepreneurs were equal to non-minority founders, all communities would benefit.
potential US jobs if minority ownership rate were equal to non-minority owners
EAN has been invaluable to me by making connections with finance companies and even helping me launch a brand new EV business.
Maurice H. Brewster | CEO
Mosaic Global Transportation
Those joining the Entrepreneurs Access Network community will:
- Join an elite network of the country’s best entrepreneurs
- Be part of a community of Black and Latino high-growth company leaders
- Experience an educational platform designed for today’s busy executive
- Be invited to webcasts featuring top business leaders and organizations
- Be assigned an EY professional as an EAN Relationship Ambassador to help guide through the EAN 12-month growth journey
- Receive a complimentary invitation to the Strategic Growth Forum® US, the country’s most prestigious gathering of high-growth, market-leading companies, bringing together more than 2,000 of the nation’s top executives, entrepreneurs, advisors, investors and other business leaders.
- Applicants must be a Black or Latino CEO or founder of any privately held company in the US.
- Company must be more than two years old and 51% minority (Black/Latino) owned.
- Multiple co-founders may apply as a group, if 51% ownership criteria is met.
- Only for-profit businesses may apply.
- Former EY Entrepreneur Of The Year® Award and Entrepreneurial Winning WomenTM winners are eligible to utilize the resources available through the Entrepreneurs Resource Library.
- For entrepreneurs who have sought outside investment, the founding entrepreneur may still apply if majority ownership stake is retained after deducting all outside investments.
How does one apply for the EAN program?
Applications for the 2023 cohort are now open.
Why did EY teams create EAN?
Financial health makes minority-owned enterprises three times as likely to close versus non-minority owned businesses. During first few months of the 2020 pandemic, there was a decline in Black (41%) and Latino (32%) owned companies compared to non-minority (17%) entrepreneurs. If race, networks and funding barriers for Black and Latino entrepreneurs were equal to non-minority founders, all communities would benefit. EAN was created to address these obstacles.
What are the benefits for entrepreneurs who participate?
EAN is an educational program (no fee) developed for Black and Latino entrepreneurs. For program participants, EAN aligns an EY executive to help provide access to resources, capital, network opportunities and other growth drivers for their company.
What are the requirements and program demand for businesses?
Applicants must be a Black or Latino-owner or leader of a scalable company which has been in business for more than two years and is 51%+ Black or Latino-owned.
What does the EAN program involve?
EAN is designed to be a manageable 12-month program for the busy executive. The platform includes assessments, 1:1 coaching, curriculum customized based on needs, access to online tools, networking events and promotional exposure.
How will EAN participants be selected and notified?
Nominations will be reviewed by an EAN selection committee. EAN will notify companies of their acceptance on a rolling basis beginning in November and December of 2022.
How much does this program cost?
The EY Entrepreneurs Access Network program does not have a financial cost to the participant. The participant is expected to participate in the full program lifecycle.