EY Entrepreneurs Access Network welcomes second cohort of Black and Latino entrepreneurs
96 executives nationwide selected for the EY US business accelerator to help further grow their companies and close long-standing disparity gaps
NEW YORK, Feb. 21, 2022 /PRNewswire/ -- Ernst & Young LLP (EY US) today welcomes 96 Black and Latino founders and CEOs to the 2022 cohort of the EY Entrepreneurs Access Network (EAN). A national business accelerator, EAN is a comprehensive, executive program designed to elevate emerging and established Black- and Latino-owned companies through access to resources, networks and one-on-one mentoring. This marks the second full cohort of EAN participants, after the program officially launched in January 2021.
The 2022 EAN class includes 96 Black and Latino entrepreneurs from across the US who lead high-potential companies representing various industries including technology, retail and consumer products, manufacturing and distribution, and professional services. Through EAN, participants are connected to an elite network of investors and advisors to help address disparities encountered when growing their businesses.
"For minority entrepreneurs to experience long-term economic success, the entire business community must address unequal access to capital, mentors and networks," says Lee Henderson, Americas EY Private Leader and Executive Sponsor, EY Entrepreneurs Access Network. "Our goal is to provide these innovative entrepreneurs with the support needed to scale-up their thriving companies and create prosperity for their businesses, their stakeholders and ultimately, their communities."
According to EY US's latest research, while 73% of established Black and Latino entrepreneurs experienced moderate to significant revenue growth in 2021, nearly all are concerned that it was driven by a short-term boost in attention. These figures and other findings illustrate the need to maintain strong support networks for historically underserved entrepreneurs.
"For far too long, Black and Latino businesses have been underestimated and under-supported. And although they contribute billions to our economy in revenue and jobs, they still experience systemic barriers," says Nit Reeder, EY Americas Markets Communications and Enablement Leader; EY Entrepreneurs Access Network Program Director. "We are eager to welcome this year's class, made up of ambitious leaders who are hungry for personal and professional growth and ready to soar to new heights."
EAN's 12-month program includes a company assessment, alignment with a dedicated EY US relationship advisor and a customized learning plan based on the needs and maturity of the company. Participants receive guidance on a range of topics including digital transformation, support in upskilling employees, and help developing boards and expanding professional networks, among others.
Black and Latino business owners who applied for the program were evaluated based on their leadership style and business acumen, in addition to their company's culture, level of innovation and potential for scalability.
For more information, please visit ey.com/EAN.
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