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EY NextGen Academy

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Gain Creators / Outcomes

Young people involved in family businesses:

live a real entrepreneurship experience through active participation to lectures and projects
development and increase competences and personal and business skills through dialogue, support and work with mentors
Can present their project in front of the other participants at the end of the week
learn how to focus and orient potential, how to develop talents and attitudes, how transform innovation into a real business value
have the possibility to participate in more than one-week training
can access to the EY NextGen Club (international network of young entrepreneurs from more than 55 countries)and to EY NextGen Club Award.

Gains / Needs

Young people involved in family businesses need:

to discover and accelerate their business potential and get encouraged to make a difference as a visionary leaders
join an unique experience and confront themselves with other young entrepreneurs and mentors
build entrepreneurial talents and learn how to turn innovations into value, acting as agent of change
To find a balance between interests, needs and ideas on the one hand, and family expectations on the other hand
widen their personal network of international young entrepreneurs
Need to be able to pursue new business goals though the innovation and the growth of an already thriving family business

Target Group

The main target group is made up of young people and professionals (16-30+) involved in family businesses.

Implementation Method

The EY NextGen Academy is an initiative built around the EY broaden system to promote entrepreneurship worldwide. It can be (further) promoted through EY website and former participants and families.

EY NextGen Academy

The EY NextGen Academy (http://www.ey-nextgen.com/) is aimed at family businesses, and it offers a range of one-week training events to help young people explore their future entrepreneurial and succession plans, accelerate their potential and make a difference as visionary leaders.

The programme is structured in three steps:

In the NextGen Academy First Program, young people in family businesses (aged 16 to 20) find out how to discover their business potential (focus on orientation).
The NextGen Academy Advanced Program has a focus on personality and allows young people in family businesses, aged 21 to 25, to learn how to develop their entrepreneurial talent and how to combine attitude with professional knowledge.
In the NextGen Academy Excellence Program, young people in family businesses aged 26 to 30 are encouraged to act as agents of change and learn how to turn innovation into value, developing their leadership skills, and to obtain a precise vision of their personal next step.

Activities

Young people joining the programme will have the opportunity to take part in:

One-week training events
Experiential activities for individuals and groups
Working sessions
Lectures

Resources

No specific resource needed to take part in the programme, which will give access to the following assets:

Cutting-edge academic expertise
Network of top-ranking business school facilitators and experienced EY professionals
Practical approach and advice
Individual feedback from coaches
Exceptional business personalities
Possibility to invite parents to come along and take part in a joint presentation or working session with the participants

Pain Relievers / Solutions

Exploring interests, accelerate potentials
Both theoretical and practical approaches
Possibility to show other people ideas and final project
Encourage people to make the difference as a visionary leaders

Pains / Challenges

Young people lack a balance between interests and ideas, and family expectations
There is a lack of entrepreneurial skills to run a successful family business
Students lack a wide personal network of international young entrepreneurs
Lack of financial resources to bring innovations and improvements to an ongoing family business, to make the activity more attractive and to adapt it to the market changes

Additional information

The program combines knowledge from leading international executive business schools with practical experience and advice from EY. This incomparable combination offers a unique opportunity to benefit personally from the experience of exceptional business personalities and peers from around the world. The highly enjoyable activities give young adults the chance to pursue their interests and give voice to their own needs for the future.

Individual goals and personalities as well as the nature and culture of family businesses, sometimes require flexible training content and delivery. This unique international network of top-ranking business school facilitators and experienced EY professionals deliver cost-efficient, tailor-made courses for both the next and current generation of entrepreneurs and successors, combining cutting-edge academic expertise, a practical approach and exciting experiential activities for individuals and groups – delivered where and when the person choose. At the end of the program week, people who have attended the NextGen Academy for the first time are invited to join the EY Next Generation Club of Entrepreneurs (EY NextGen). Moreover, being an offshoot of the EY Entrepreneur Of The Year™ – the world’s most prestigious business award – the EY NextGen Club Award is a platform for EY NextGen Club members to showcase their entrepreneurial endeavors. Candidates for the award are assessed by an international panel of judges, and the winner gets the invaluable opportunity to participate in the EY World Entrepreneur Of The Year Forum and the Global Family Business Summit in Monte Carlo.

Finally, some opinions and impressions on the program:

"I find it impressive how you are engaged wholeheartedly for the cause of next generation members in family businesses. Your program has a scale and quality that is beyond anything I have seen elsewhere. I hope you continue the great work. Congratulations!" Professor Dr. Thomas Zellweger, Chair of Family Business, Center for Family Business and Institute for Entrepreneurship, University of St. Gallen, Switzerland
"As I reflect on the experience my children and I had at the EY NextGen Academy, I am at a loss for words. It really was remarkable. My children definitely desire to participate again next year." Aubra L. Franklin, Chairman and CEO, The Franklin Companies, US
“I joined the Academy twice: first as a next generation member and later as a speaker. It is incredible how much EY cares for the next generation.” Cedric Nidecker, COO, Nidecker Group, Switzerland

For more information about the program, such as practical information (number of participants, application form, detailed program) other opinions, videos and to be updated about EY NextGen Club progresses, please visit the website (http://www.ey-nextgen.com/)

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