Amman: Endeavor Jordan awarded a contract to Ernst & Young (EY) Jordan to conduct an in-depth diagnostic, in-house consulting, and training for high potential growth companies (HPGCs) selected to join the Scale-up Roadmap for Growing Enterprises Program (SURGE), a 3-year program co-funded by the European Union’s “Innovation for Enterprise Growth and Jobs” program “Innovate Jordan”.
Under the contract, EY Jordan will support the SURGE team to improve some of the core business functions of the 45 HPGCs that will be selected over the 3-year project period. EY Jordan will also support various activities related to access to markets and access to finance. More specifically, EY Jordan will support the SURGE team in conducting an exhaustive needs diagnostic analysis to help identify the internal and external challenges for each HPGC. This will culminate in the development of a 9-12 month milestone-driven roadmap for each HPGC.
The roadmaps will identify the immersive 8-week in-house consulting needs that will be delivered by subject matter experts on the premises of each assigned HPGC. Roadmaps will also identify the training, coaching, mentorship, and advisory needs for each HPGC. Additionally, EY Jordan will support the SURGE team with organizing and facilitating a number of workshops using proven and recognized methodologies and tools. These workshops will focus on market prioritization, healthy tax practices and tax evasions complications, accounting best practices for investment readiness, and impact investment. EY Jordan will also support the SURGE team in identifying potential global industry players to be introduced to the companies during the market exploration trips.
A total of 14 business consulting and professional services firms applied to the request for proposal announced on December 13, 2020. The evaluation of the proposals followed a rigorous and fully transparent process, complying with the evaluation grid of the award criteria presented in the RFP by a committee of experts representing the 3 consortium entities. The entire process was observed by the team leader of the EU funded technical assistance to Innovation for Enterprise Growth & Jobs program resulting in awarding the contract to EY Jordan for attaining the highest score of the technical and financial evaluation.
SURGE, which is implemented by a consortium led by Endeavor Jordan (not for profit) and includes Oasis500 and BeyondCapital, aims to foster the demand-driven growth and scaling of 45 HPGCs, 15 companies per year, throughout the three years. It will focus on strengthening their core business functions, and assisting them to identify and seize new market opportunities.
About Innovate Jordan programme
The 'Innovation for Enterprise Growth & Jobs' (Innovate Jordan) is a EUR 20 million programme, funded by the European Union in Jordan. The programme’s overall objective is to support private sector-led innovation that could drive inclusive economic development and promote systematic change in the local enterprise and innovation ecosystem in Jordan.
The Programme will be implemented until 2024, through three grants. The First Grant action, ‘Scale-Up Roadmap for Growing Enterprises’ (SURGE), is implemented by a consortium led by Endeavor Jordan in partnership with BeyondCapital and Oasis500. The Second Grant action, ‘Jordan Industry 4.0 & Digitalization Innovation Centre’, (InJo4.0) is implemented by a consortium led by SAM Engineering & Trade Co. in partnership with Amman Chamber of Industry, IBTECAR, Transition Technologies - Advanced Solutions and Tum Tech. The Third Grant action, “Innovation Space,” is implemented by Orange Jordan.
Endeavor is leading the global high-impact entrepreneurship movement to catalyze long-term economic growth. Since 1997, Endeavor has been selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. Through the guidance that Endeavor offers, entrepreneurs can tangibly impact their communities, generate new job opportunities, bolster their countries’ national wealth, inspire others to innovate, and contribute to private sector development.
Endeavor launched its operations in Jordan in 2009, and is leading the way in supporting high-impact entrepreneurship. Today, Endeavor Jordan supports 43 Endeavor Entrepreneurs, representing 28 companies, from varying industries.
© Press Release 2021