User:Commonpress/sandbox

Accelerating Entrepreneur

Accelerating entrepreneurs can be formally defined as seed accelerators or Startup . It is known as a cohort-based program offering youth mentorships, business education, and elevator pitch training with small investment to start a registered company portfolio (Hochberg, 2014). “Accelerating entrepreneur” is a term first used by the EY’s commitment to define young business minded individuals with innovated ideas. The EY’s Accelerating Entrepreneurs program helps individuals with high entrepreneurship potential around the world to scale up their business. The Accelerating Entrepreneurs program provides a wide variety of benefits to entrepreneurs with lifetime opportunities to form ongoing mentoring relationships, networking partnerships and insight sharing. Each accelerating entrepreneur gets a chance to present their business plans to a panel. Accelerating Entrepreneurs is designed for youth between 18 and 29 years of age who have similar entrepreneurial ideas and are ready to take the next steps on becoming the global market leaders of tomorrow. The key purpose of the Accelerating Entrepreneur program is to foster creations of new business ideas in which entrepreneurs can easily start new companies. These companies will encourage innovation, increase job availability, and spur economic activity.

History

In recent years, advanced technology and the emergence of new institutional innovated ecosystem has resulted in entrepreneurship becoming a growing trend. In 2007, the Techstars was one of the largest programs recognized in emerging a start-up platform for entrepreneurship. Later that year, two local investors from Colorado funded Boulder (their start up ecosystem for Accelerating Entrepreneurs). Accelerating Entrepreneurs continues to provide youth with tools to enhance their business ideas and turn them into global market jobs. The fundamental role of EY’s commitment to associated accelerating programs is to provide opportunities of ongoing mentorship with coaches who have many years of expertise in the fields. Hence, they annually gather entrepreneur individuals to feature their story for EY’s centre of entrepreneurship and innovation from over 60 countries. Currently, many colleges and universities have established similar programs assisting youth across borders. In 2014, Centennial College started their accelerating entrepreneur program currently known as “ACCEL”. In the same year, Durham College joined with University of Ontario Institute of Technology to launch their accelerated program called “FastSTARTS” for both alumni and currently registered students. Accelerating Entrepreneurs groups have been facilitated across the border, especially among university and college communities. The only difference among these establishments is the name given to each group. For instance, in Aston University’s School of Business, the group is known as Accelerating Entrepreneurial Growth Programme (or AEGP). These programs are sponsored by large companies, such as MaRs and Futurpeneur; they help to fund grants and loans. Moreover, the Middle East and North Africa (MENA) region currently has the world’s youngest workforces, comprising of individuals under the age of 25. According to Young Global Leaders Reports (2011), the unemployment rates are double digit numbers in most MENA countries. Yemen’s shocking unemployment rate among people under 25 years of age is staggering at 35 percent. With the increase in unemployed graduate students and international economic recession, there is an urgency to create this entrepreneurial ecosystem.