EY-Parthenon announces global collaboration with Plug and Play

NEW YORK, Oct. 1, 2020 /PRNewswire/ -- EY-Parthenon, the strategy consulting business of EY, today announced its first innovation collaboration with Plug and Play, a global start-up ecosystem and venture fund specializing in early- to growth-stage technology start-ups with more than 30,000 companies in its network.

The collaboration will allow EY-Parthenon clients to engage with the start-up ecosystem and embrace disruptive digital technologies and advance their growth agenda. This is critically important in a post-COVID business environment, where companies face unprecedented disruptions to supply chains and difficulties in engaging with customers.

"With COVID-19, we've witnessed an acceleration of trends that were already disrupting every industry," said Mitch Berlin, EY-Parthenon Americas Leader. "We're also experiencing a growing trend in corporate venture capital and corporations that are increasingly looking to start-ups to advance their innovation and growth agenda. With this collaboration, EY-Parthenon will be at the forefront of where change is happening and help our clients navigate their business strategy in a digital world."

Founded in 2006 and headquartered in Silicon Valley with more than 30 locations globally, Plug and Play has a deep network of corporations and start-ups. With successful exits like Dropbox and PayPal, Plug and Play has been giving start-ups in various sectors the necessary resources to succeed in Silicon Valley and beyond. Its strong programming and platform will enable exploration of the art of the possible with EY-Parthenon clients.

"We are excited for this new collaboration opportunity and look forward to contributing to EY-Parthenon's agenda to help its clients engage with the start-up ecosystem and accelerate their digital transformation," said Michael Olmstead, Chief Revenue Officer at Plug and Play. "This is an important time to be involved in the innovation and technology growth industry."

At inception, EY-Parthenon's global collaboration with Plug and Play will focus on start-ups influencing the retail value chain through their Brand & Retail Program, which will help clients navigate the business value chain to pilot and incorporate disruptive technology. By helping them build, buy or partner with start-ups focused on solving similar challenges, EY-Parthenon, with the deep start-upstart relationships Plug and Play offers, will build a better working world.

"The consumer products and retail industry is changing exponentially. These companies must be constantly innovating to remain competitive," said EY-Parthenon Americas Consumer Products and Retail Sector Leader Jim Doucette. "Collaborating with Plug and Play allows us to bring our clients the latest trends in emerging technology and understand how their business can be transformed by incorporating digital transformation as a key component of their strategy."

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About EY Strategy and Transactions
Strategy and Transactions enables clients to navigate complexity by reimagining their eco-systems, reshaping their portfolios and reinventing themselves for a better future. With global connectivity and scale, we drive corporate, capital, transaction and turnaround strategies through to execution, enabling fast-track value creation. We support the flow of capital across borders and help bring new products and innovation to market. In doing so, we enable our clients to build a better working world by fostering long-term value.

About EY-Parthenon
EY-Parthenon teams work with clients to navigate complexity by helping them to reimagine their eco-systems, reshape their portfolios and reinvent themselves for a better future. With global connectivity and scale, EY-Parthenon teams focus on Strategy Realized — helping CEOs design and deliver strategies to better manage challenges while maximizing opportunities as they look to transform their businesses. From idea to implementation, EY-Parthenon teams help organizations to build a better working world by fostering long-term value. EY-Parthenon is a brand under which a number of EY member firms across the globe provide strategy consulting services. For more information, please visit ey.com/parthenon.

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations globally, giving start-ups the necessary resources to succeed in Silicon Valley and beyond. With over 30,000 start-ups and 400 official corporate partners, we have created the ultimate start-up ecosystem in many industries. Companies in our community have raised over $9 billion in funding, with successful portfolio exits including Dropbox, Lending Club and PayPal. For more information, visit https://www.plugandplaytechcenter.com/

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