Endeavor selects EY to support scale-up programme in Jordan

12 March 2021 Consultancy-me.com 2 min. read
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Having beaten out 13 professional services firms in a competitive bidding process, EY is set to deliver consulting, training and market analysis expertise for a new enterprise support programme in Jordan – managed by global entrepreneurship ecosystem Endeavour.

Scale-up Roadmap for Growing Enterprises (SURGE) is an EU-backed initiative, funded through the “Innovation for Enterprise Growth and Jobs” programme “Innovate Jordan.” Roughly $5 million has reportedly been set aside by the EU for SURGE, which aims to bolster Jordan’s transforming economy and business environment.

Under the programme, 15 high potential growth enterprises will be selected to receive support with scaling up – annually for three years. Managing SURGE is the Jordan arm of global entrepreneurship movement Endeavour, which has now appointed EY Jordan to provide advisory support for the selected growth businesses.

Endeavor selects EY to support scale-up programme in Jordan

EY’s mandate is expansive. Broadly speaking, the Big Four accounting and advisory firm will help improve business fundamentals at all 45 selected enterprises, while also facilitating access to funding and new markets.

In specific terms, this means evaluating the enterprises to hone in on key challenges and opportunities – using that information to build a one-year growth roadmap complete with milestones. With the roadmap in hand, EY will help with implementation through in-house advisory services in eight-week sprints.

Mixed in with this growth support are targeted workshops – aimed at building expertise in market trends as well as tax, accounting and investment practices. Lastly, EY will work with SURGE management to pick out global industry stalwarts that could help support the growth enterprises in question.

Entries for the programme were submitted in early January, and a pool of selected businesses will soon be ready for EY support. The baseline for all selected businesses is over $100,000 in annual turnover, a tech focus, and a minimum viable product.

According to Endeavour Jordan managing director Reem Goussous, SURGE is a saving grace at a time of unprecedented challenge for business in Jordan, across the Middle East, and globally. The crisis has been devastating, while also posing an opportunity for businesses to repivot their approach in line with a post-pandemic world.

“Through this program, we want to support firms to become more resilient, and at their core, able to take growth to the next level,” said Goussous.