EY US announces inaugural Atlanta cohort of entrepreneur program for Black and Latinx entrepreneurs

The Entrepreneurs Access Network will support Black and Latinx entrepreneurs in Atlanta to further grow their businesses and reinvest in their communities

News provided by

Dec 14, 2020, 09:00 ET

NEW YORK, Dec. 14, 2020 /PRNewswire/ -- Ernst & Young LLP (EY US) today announces the inaugural cohort of the Entrepreneurs Access Network (EAN), a business accelerator and comprehensive, executive-level educational program designed to elevate scalable Black- and Latinx-owned companies through access to mentors, resources and networks. EAN offers a curated class-based learning program for emerging and established enterprises; an on-demand option with self-paced education is available to Black and Latinx entrepreneurs of all levels nationwide.

The inaugural cohort includes entrepreneurs across the US, including those based in the greater Atlanta area.

"Entrepreneurs' potential shouldn't be determined by race," said Glenn Mitchell, EY Atlanta Office Managing Partner. "Our diverse city has a thriving entrepreneurial ecosystem. While Black- and Latinx-led companies are well-represented across Atlanta, these diverse entrepreneurs continue to face barriers. For Atlanta to continue its history of being a flourishing city, we must strive for zero barriers for all. This is the ambition of the EY Entrepreneurs Access Network."

Approximately 1% of venture capital dollars go to Black and Latinx founders, despite the fact that minority-owned businesses produced approximately US$700b in revenue in 2019 alone. These figures illustrate the vast opportunity cost of not supporting these underserved entrepreneurs.

"Minority entrepreneurs receive so little support, even though they show immense revenue potential. But closing this gap requires more than capital alone," said Nit Reeder, EY Entrepreneurs Access Network Program Director. "EAN is not a 'fund and forget' program. Our curriculum provides tools and access to an ecosystem."

EAN's 12-month curated program includes a company assessment, alignment with a dedicated EY relationship advisor, and a customized learning plan based on the needs and maturity of the company. Participants receive both tangible and intangible guidance, such as guidance in digital transformation, support in upskilling employees, and help developing boards and expanding professional networks.

Black and Latinx business owners who applied for the curated program were evaluated based on certain criteria and placed within "Emerging" and "OnDemand" categories. Black and Latinx entrepreneurs at all revenue, ownership and operational maturity levels will be able to access the EAN resource library, an online resource offering self-paced learning, in mid-January.

Reeder added: "EAN builds on our organization's current entrepreneurial programs, including 34 years of EY Entrepreneur Of The Year™ and 12 years of Entrepreneurial Winning Women. As we look to the year ahead, it's more important than ever to support Black and Latinx entrepreneurs, linking them to the resources they need to thrive."

For more information, please visit ey.com/EAN.

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

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. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

SOURCE EY