NEW YORK, Nov. 14, 2016 /PRNewswire/ -- The EY Vantage program, which sends top-performing EY professionals abroad to support high-impact entrepreneurs across Latin America at no fee, has concluded for 2016. Twenty-eight advisors completed more than 6,700 program hours, equivalent to more than $2.5 million in services, working with entrepreneurs in emerging economies and helping them identify and navigate key business challenges.
The initiative, now in its 12th year, has helped entrepreneurs to grow, create more jobs and make significant contributions to their respective industries, reinforcing EY's commitment to building a better working world and improving global economies. Since 2005, 147 advisors from EY Americas member firms have supported 145 entrepreneurs with more than 45,000 hours of service at a value of more than $15 million.
"Since its inception, EY Vantage has made a positive impact for the entrepreneurs we have supported, as well as for the up-and-coming EY leaders who have taken part in the program," said Deborah K. Holmes, EY Americas Director of Corporate Responsibility. "Our hope is that EY Vantage can serve as a catalyst for sustainable growth in countries with emerging economies where cultivating entrepreneurship can have a lasting effect on society. At the same time, we are engaging our top professionals through this transformative international experience which aims to develop leadership skills and a global mindset."
The program works in collaboration with Endeavor Global, a non-profit organization that aims to catalyze long-term economic growth by selecting, mentoring and accelerating high-impact entrepreneurs across the globe.
During the course of their six-week placements, each EY professional worked with an entrepreneur on a project tailored to address the needs of the organization while growing professional and leadership skills for the advisor. Projects included market expansions, internal auditing, work flow and operations and the development of business plans. Advisors were also able to gain firsthand knowledge of the emerging markets and industries in which they volunteered.
"I feel lucky to be an EY Vantage Advisor and to work for a purpose-led organization that offers skills-based, international volunteerism programs. Traveling to a foreign country alone to work with a high-impact entrepreneur challenged me both personally and professionally. The experience was difficult at times, and ultimately incredibly rewarding. I returned with greater confidence in my skills and leadership abilities, and have already noticed my enhanced global mindset coming into play with colleagues and clients who I encounter regularly working for a large global organization," said Rose Martin, an Advisory Manager of Ernst & Young LLP based in New York. She advised don't worry, a company that provides healthy snacks while minimizing calorie intake, by conducting a gap assessment and developing a plan to improve its business operating model.
The EY Vantage program in the Americas expanded at the start of 2016 to include new cities in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay. Globally, the program has supported entrepreneurs in more than 30 countries.
To learn more about the EY Vantage program, please click here.
Hailed by The New York Times columnist Thomas Friedman as "the best anti-poverty program of all," Endeavor is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 30,000 entrepreneurs and selected 844 individuals leading 538 high-impact companies.
With support from Endeavor's worldwide mentor network, these high-impact entrepreneurs:
Have created over 600,000 jobs
Generated over US$8 billion in revenues in 2015
Inspire future generations to innovate and take risks
Headquartered in New York City, Endeavor currently operates in 25 countries throughout Latin America, Africa, the Middle East, Europe, Southeast Asia and Japan. Endeavor also has three US affiliates based in the cities of Detroit (MI), Louisville (KY) and Miami (FL). As the high-impact movement expands globally, Endeavor will continue to prove that anyone with a big idea can succeed, from Silicon Valley to Latin America, the Middle East, and beyond.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.