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Highlights from Monaco3–7 June 2015

ContentsPhoto highlights 2Special guests 4Summits 12Panel sessions 16Special session 19EY World Entrepreneur Of The Year™ 2015

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Reshaping our world Imagine if some of the world’s greatest business minds came together to reshape the world. Well, they did just that in June at the 15th annual EY World Entrepreneur Of The Year™ in Monaco. This invitation-only CEO event — the world’s only global celebration of entrepreneurial achievement — brought together more than 1,200 of the world’s top executives, advisors and investors who are leaders in innovation and masters of global transformation.

Our agenda focused on “Reshaping the future” and was brought to life by influential panelists, thoughtful speakers and red-hot topics. They ranged from the future of social media to global growth in the most unexpected places. Among the highlights:

• We welcomed some of the biggest names in business, including Howard Schultz, Chairman and CEO, Starbucks Corporation; Bill Ford, Executive Chairman, Ford Motor Company; Muhtar Kent, Chairman and CEO, The Coca-Cola Company; Biz Stone, Co-founder, Twitter Inc.; Narayana Murthy, Founder, Infosys Limited; Arif Masood Naqvi, Founder and Group Chief Executive, The Abraaj Group; and Sir Martin Sorrell, Group Chief Executive, WPP.

• We held our first Women in Leadership Summit and welcomed Martha Stewart, Cherie Blair and other powerful women to discuss ways to inspire more to make it into the boardroom.

• We held panels on new technologies, the use of innovation to help those in need and global youth employment. We even created a wall to showcase corporate pledges and those who committed to give more young people a chance at that all-important first job.

And who can forget the excitement that built as we headed into the Saturday night gala, where we announced this year’s World Entrepreneur Of The Year. They came from 53 countries to vie for the world’s most prestigious business accolade, all winners in their own right. Congratulations to Mohed Altrad, President of Altrad Group and our EY World Entrepreneur Of The Year 2015. Altrad is the world leader in cement mixers, with 7,000 people in 110 global subsidiaries. You won’t want to miss Mohed’s powerful story on page 23.

Keep going. Keep growing. And stay inspired until we see you next year in Monaco, 8-12 June at EY World Entrepreneur Of The Year. The world’s only global celebration of entrepreneurial achievement is a must-attend. In the meantime, enjoy reading the highlights of 2015, where you can relive the experience or see what you missed. Mark your calendars and we look forward to welcoming you next June. Who will amaze us next? We’re counting on you.

Maria Pinelli EY Global Vice Chair – Strategic Growth Markets

Bryan PearceEY Global Leader – Entrepreneur Of The Year and Venture Capital

Special guests

Seeking solutions to social problems has always been important to Howard Schultz, Chairman and CEO of Starbucks Corporation. As a child in the Brooklyn projects, he saw the struggles of his parents and neighbors, and he vowed to make a difference in the future.

“I wanted to build the kind of company my father never had the chance to work for,” Schultz said in a conversation with EY Global Chairman & CEO Mark A. Weinberger. During the opening keynote of EY World Entrepreneur Of The Year 2015, Schultz shared how he had helped Starbucks grow over the years by embracing its commitment to society.

Early in his career, Schultz became very determined to work for the nascent coffee retailer after visiting the company’s flagship store. He was hired as head of director of operations and marketing in 1982, but left three years later after developing a successful coffeehouse concept — which the owners refused to roll out company-wide.

Schultz took his concept and established Il Giornale, which went on to purchase Starbucks in 1987. Since then, the retailer’s growth has been extraordinary. Today the company has 21,000 stores in 64 countries and territories, and following its IPO in 1992, Starbucks has grown from $250m to $8b.

And that growth has benefited more than shareholders. Over the years, Starbucks has taken a stand for its workers. It was the first company in the world to offer a college education to every employee, and it spends more than $300m annually on health insurance — more than its invoice for coffee beans.

These investments in employees were not popular with institutional investors during the economic crisis, but Schultz disagreed. “Not everything is a financial decision,” he said. “It is incumbent on business and business leaders to do more.”

That goal has come to the forefront in the past few years, as political inaction,

income inequality and racial injustice in the US have led to what Schultz called “the fracturing of the American dream.”

“If we want a country where consumers can buy our products, then we need to create an environment where that’s possible,” Schultz said. “Businesspeople are responsible not only to shareholders, employees and customers, but to society at large.”

He noted that serving society requires humility, something that was most strongly demonstrated to him on a trip to Jerusalem. While visiting the Western Wall, Schultz was surprised when the rabbi he was with stopped 10 yards short, saying he had never been closer. “You go,” the rabbi told Schultz. “I am not worthy.”

As that lesson sank in, Schultz urged attendees to find “the curiosity to see around the corner and the courage and conviction to make big bets.” They responded with a standing ovation.

Key takeaway:Not everything is a financial decision. It is incumbent on business and business leaders to do more.

4 EY World Entrepreneur Of The Year 2015

Howard SchultzA double shot of humility

Bill FordDo the right thing

The first Henry Ford said, “If you think you can or you think you can’t, either way you are right.” And it’s safe to say that his great-grandson Bill Ford, Executive Chairman of Ford Motor Company, thinks he can — and then some.

“If you look at the change that is coming to our industry, it is fast and furious, and it’s going to change our business model dramatically.” He describes the thought of Apple and Google moving into the auto space in one word: “awesome!”

But Ford keeps himself — and the company — grounded. “We’ve discussed the appropriate level of distraction for the organization. I say don’t let today’s activities fall off the table, or there is no future,” he told Uschi Schreiber, EY Global Vice Chair – Markets and Chair – Global Accounts Committee.

Still, when he looks further down the road, these are a few things he sees:

Urban mobility and global gridlock can be eased by a wireless network connecting cars, buses, trains and even bicycles for the most efficient travel routes on congested urban city streets. But Moscow’s network will not look like Bangkok’s, and cars (be they standard, electric or driverless) will need to be able to “speak” to one another.

Cars can be more than just transportation. Ford described a current “mobility experiment” in rural India where the automaker supplies pregnant women with off-road vehicles to get them to the hospital — and to transmit the medical records before the patient arrives.

Moving the needle on the electric car, where demand has flattened. The company has opened up some 200-plus patents because Ford said it was the right thing to do. “We need and want more people to adopt and advance this technology.”

And his favorite car? “That’s like asking who my favorite child is. But hands down, it’s my 1960 Mustang convertible.”

Key takeaway:Ford opened up some 200-plus patents because we have to move the needle on the electric car, which is stuck in low gear. We want more people to adopt and advance this technology.

Technology is empowering people worldwide to improve their lives, said Narayana Murthy, Founder of Infosys Limited, in a keynote interview with Maria Pinelli, EY Global Vice Chair – Strategic Growth Markets.

The EY World Entrepreneur Of The Year 2003 cited three dramatic changes:

• Connections between countries such as India and the US enable a “24-hour workday” that merges the prime times of both countries, creating “a 100% increase in productivity.”

• Murthy noted that “technology is a great leveler. Technology gives confidence to people. Technology raises the hopes of people.” He gave the example of a poor person who, having experienced difficult dealings with loan officers, told him that he likes ATMs because “the machine doesn’t discriminate against me.”

• Technology democratizes education by delivering online courses that can be accessed by students in developing nations.

“The first responsibility of a company is to raise the productivity of every employee,” said Murthy, who started Infosys in 1981. When Infosys was formed, some suggested its mission should be to become the most profitable company or the one with greatest revenues. “I said, ‘Why don’t we seek to be the most respected?’” He explains that mission has kept Infosys focused on providing the most value to customers, treating employees with dignity and respect, and contributing to society.

He concluded, “If you seek respect from each stakeholder, then you will ask one question: will this action of mine increase respect for me and my company?”

Narayana MurthyIt’s the legacy that endures

Special guests

Key takeaway:Technology is a great leveler. Technology gives confidence to people. Technology raises the hopes of people.

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When you have one of the most recognized brands around the globe, product extension would be a logical path to growth. But when the brand is Coca-Cola, that’s not likely to happen anytime soon.

“I don’t have any plans to expand out of the consumer beverage category,” said Muhtar Kent, Chairman and CEO of The Coca-Cola Company. “It’s an honor to be in the business of refreshing the world.” This doesn’t mean innovation is off the table. Kent imagines a future with more individualized options such as home dispensers.

He also believes in staying ahead of macro trends that predict an aging population in some parts of the world with an exploding youth market in others, the growth of the global middle class, hyperconnectivity and water scarcity. No matter what, the consumers, bottlers and retailers are the focus.

“Don’t have a monologue with the market — don’t just throw new products out there — have a dialogue instead,” Kent said. “Mass market does not preclude mass personalization.”

Kent said one of his favorite ad campaigns was “Share a Coke,” and he handed an EY-branded Coke can to interviewer EY Global Chairman & CEO Mark A. Weinberger. As a management trainee, Kent rode the bottling truck for rounds of meetings with Coke’s retailers, learning early on about the importance of one-on-one contact with Coke’s stakeholders.

Today, he has instilled a culture that ensures 80% of all meetings be external. “We need to meet with our stakeholders, not with each other.”

Muhtar KentRefreshing the world

Key takeaway:Don’t have a monologue with the market — don’t just throw new products out there — have a dialogue instead.

7Highlights from Monaco

Special guests

Biz StoneTriumph of empathy

“We were having fun,” said Biz Stone, Co-founder of Twitter Inc. and Co-founder and CEO of Jelly Industries, Inc. “We were just goofing around.”

The idea was simple and based on Stone’s experience in social media. At the time, texting was just starting to catch on. Stone wondered if he could take the concept of the chat-client status message and turn it into a service, so people could see how their friends are feeling or what they were up to without even having to ask.

Then came the name, which was drawn out of a hat: Twitter. If it had been market-tested, the name “would have been like Update System Number 2,” Stone told interviewer Carmine Di Sibio, EY Global

Managing Partner – Client Service. Not everyone on the team was thrilled, but Stone was the designer, so he could (and did) say, “It’s on the website already, sorry.”

Then came the offer from Facebook. Stone said that he and Co-founder Evan Williams came up with a number so high that they were sure Mark Zuckerberg would refuse. He didn’t. For Stone, who grew up on welfare, $500m was a “ridiculously high” number — but they didn’t accept it. “We really did feel strongly there’s still something there, and we were willing to work a lot longer and harder on it,” Stone said. “Mark stopped sending me Happy Birthday emails after that,” he added wryly.

To Stone, the vision is more important — not merely his vision for Twitter, but his vision

for social media as a whole: it should give us the ability to put ourselves in someone else’s shoes. That vision has given him perspective: there’s no such thing as the Twitter revolution. “These are real people that are risking their lives,” Stone said of recent political protests often organized via Twitter. “This is a triumph of humanity. It’s not a triumph of some tech company.”

Stone sees empathy as the first step toward global collaboration, and social media as building empathy. In building Twitter, Stone has been having fun — and doing good, too. Now that’s something to tweet about.

Key takeaway:Have fun, but do something good, too.


Sir Martin SorrellWho dares winsSir Martin Sorrell, Group Chief Executive of WPP, explained how the company — once derided by an industry naysayer as an “upstart pipsqueak” — has grown to become the world’s largest marketing communications group.

It began with the 1986 acquisition of a listed shell company, Wire and Plastic Products Ltd. Far from the world of advertising, it was a maker of pots and pans. “Then we did the daring thing — we bid for a company 13 times our size,” Sir Martin told interviewer Mark A. Weinberger, EY Global Chairman & CEO.

Following the acquisition of other advertising and marketing agencies over the years including the Ogilvy Group, what began as a 2-person operation now has more than 122,000 employees in 111 countries. WPP serves 375 of the Fortune Global 500.

Sir Martin is loath to pontificate on the topic of leadership, saying, “It is what you are. Be authentic.” He’s also not a big fan of the term “corporate culture,” which he thinks is too often used as “an excuse to not do something.”

People, however, are something he discusses passionately. WPP’s investment in people is 25 times the amount it invests in other assets. “Good people are far more difficult to manage than average or bad people,” he said.

Sorrell summed up his advice for success in today’s business world: “Firstly, learn Mandarin. Then learn code.” That focus has seen WPP’s share of fast-growth markets grow to 31%. Iran and Cuba are two markets that Sorrell has his eye on.

Likewise, digital technologies offer tremendous growth avenues. WPP is experimenting with digital and new organizational structures. “You must not be afraid to cannibalize your own businesses,” he said. “If you don’t eat your own children, someone else will.”

Key takeaway:Firstly, learn Mandarin. Then learn code.


Soon, more than 1 million people a week will be moving into the city — the equivalent of eight New York Citys springing from the ground each year. The growing urbanization of humanity has reached a turning point, said Arif Masood Naqvi, Founder and Group Chief Executive of The Abraaj Group: it has become a trend that cannot be stopped.

Even more important, this shift offers an enormous opportunity for global growth because when people move from the country to the city, their patterns of consumption change. As the urban population mushrooms, the city, as an economic and political unit, will continue to grow in importance. Urban populations, especially in what Naqvi terms “global growth markets,” will shape the future of capitalism — and humanity.

Consider that 60% of global growth will occur in about 500 cities around the world. Add that cities are responsible for two-thirds of the world’s carbon emissions and consume 75% of the world’s energy, and it becomes clear that cities will become the engines of economic growth, surpassing even countries. And those cities will have needs — a great many needs.

“The whole opportunity set facing us is very large,” said Naqvi, who was interviewed by Andrew Bainbridge, Global Head, Commercial Clients at Standard Chartered. “These cities are going to need more of everything,” including education, health care, infrastructure and so much more.

The Abraaj Group, and private equity in general, can help companies around the world meet these needs, Naqvi said: “If we can cause each of 100 companies to spend $1 million in the communities in which they operate, then we will cause $100 million to be spent in the right manner across the world.”

Arif Masood NaqviBright lights, big cities, beautiful growth

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Key takeaway:Cities of the future are going to need more of everything — education, health care, infrastructure and so much more.

Women in Leadership Summit

Women in Leadership Summit kicked off EY World Entrepreneur Of The Year 2015 Fact: we know we need more women CEOs, CFOs and board members.

Moderator: Nina dos Santos, CNN

Panelists: Linda Hasenfratz, CEO, Linamar Corporation; Diane Foreman, Founder, Chairman and CEO, Emerald Group Ltd.; Dr. Jennifer Nkuene Riria, Group CEO, Kenya Women Holding; Johanna Mukoki, Group CEO, Travel with Flair

At the Women in Leadership Summit, some of the world’s most respected and powerful entrepreneurs, members of royalty and successful business leaders talked about ways to get more women in positions of power.

Maria Pinelli, EY Global Vice Chair – Strategic Growth Markets, opened with, “We need to accelerate the global gender parity clock. We need more women in this room with us! At the current rate of progress, the World Economic Forum says it will take until 2095 to achieve gender equality in the workplace. We can’t wait 80 years! We need to speed up the clock now to create real change.”

Some recommendations from the “Women. Fast forward” panel:

Talk up the male professions. “ I have two daughters: both in engineering school. Today just 20% of engineering students are women, but that is five times the number of 30 years ago. If you tell young women there are only 20% in engineering or science, they’ll say, ‘That’s not for me.’ Instead, tell them there are five times more, and then they’ll say I need to be on that bus.’” — Linda Hasenfratz, CEO of Linamar Corporation

Give women exposure to the boardroom. “ We don’t mentor our women, we train them. We offer them associate directorships. They don’t have responsibility, but they sit at the board table and they go from the factory floor to the boardroom in just three years.” — Diane Foreman, Founder, Chairman and CEO of the Emerald Group Ltd.

Leadership is not about you. Leadership is about others. “ Transformative leadership helps women own their lives, own their families, own their communities.” — Dr. Jennifer Nkuene Riria, Group CEO of Kenya Women Holding

Know your stuff and work hard. “ I was a former beauty queen, but I am also a trained accountant and came top of my class. I was never taken as seriously as my male colleagues, but I had to fight, work three times as hard.” — Johanna Mukoki, Group CEO of Travel with Flair

And one overall piece of advice to support women in the workplace: watch out for the sharp elbows, keep the ladder down and make sure you lend a supporting hand while you bring other women up.


Secrets of successful leadership

Martha Stewart born entrepreneur Are entrepreneurs made and not born? Martha Stewart, Founder of Martha Stewart Living Omnimedia (MSLO), believes she felt the spark as a child. “I was always

inquisitive, curious — I love learning new things.”

As one of the world’s most recognized entrepreneurs, Stewart said she has always had faith in her abilities, mainly from a father who told her she was smart, talented and could do anything if she worked hard. “It doesn’t matter if it’s true, but it’s what every parent should tell their children if they want them to think they can someday run their own company.”

Personal passions have always been part of Stewart’s strategic plan. She founded an empire based on things she loves — food, flowers, holidays, entertaining. “I was thinking success; I wasn’t necessarily thinking big,” she told the Women in Leadership Summit about when she took a prototype of her magazine on “living” to Time Inc. The rest is history.

What’s next for MSLO? China beckons. After a recent visit, where she met with Jack Ma, Founder of internet juggernaut Alibaba, Stewart said that China is where the US was 25 years ago — with an exploding middle class. “We do most of our manufacturing in China now. How great would it be if we could sell it in China, too?” And since her 4-year-old granddaughter speaks Mandarin, there may be a potential CEO in the house.

Cherie Blair from Downing Street to emerging markets It is often said that we are shaped by our backgrounds. “I was an unlikely first lady,” said Cherie Blair CBE, QC, who grew up in Liverpool

in a working-class, single-parent family. “I was the boy in my all-female family.” An early lesson for her was that “to survive in this world, you need financial independence.”

Today, Blair is a barrister, judge and campaigner for equality and human rights. In 2008, she founded the Cherie Blair Foundation for Women, which runs programs in Africa, south Asia and the Middle East to help women start and grow businesses. She is married to Tony Blair, the former UK Prime Minister.

Helping women in emerging markets, often isolated in remote communities, gain that financial independence is at the heart of her foundation. Today it has reached 118,000 women in more than 80 countries.

Partnership is at the core of Blair’s work supporting women entrepreneurs in emerging markets. “We like to partner with local organizations so we can learn from each other,” she said, stressing that each community has different needs and different cultural dimensions. “Women’s entrepreneurship is so vital because it lifts whole families and communities out of poverty,” Blair said.

• Take action: be bold

• Find the right mentor, including men

• Keep building your skill set: always be improving

• Make sure you’re passionate about who you are, not what you have

• Hire people who compensate for your weaknesses and are smarter than you

• Think globally: develop cultural literacy

• Work harder — and smarter — than anyone else

• You can’t always fake it ’til you make it: be great at what you do

• Be authentic: people only want to be led by authentic leaders

• Be resilient: don’t let setbacks derail you

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Family Business Summit

Sustaining growth and entrepreneurship through generations

Next-generation entrepreneurs face a different world than the one in which their parents (or even grandparents and beyond) founded and built family businesses. Maintaining and growing a business beyond the founders’ original vison can be immensely challenging for the next generation. Add in the fact that the founding parent may still be involved in running the company, and running a family firm can become a complicated task.

What next-gen members then do with their business and money can be difficult to define for family-run companies. Johan H. Andresen of Ferd AS suggested

that social entrepreneurship programs should fulfill three criteria: “It must try to solve a chronic social problem; it should be possible to measure both the activity and its effect; it should be sustainable so that it runs on its own engine.” According to social entrepreneur Eileen Rockefeller, philanthropic efforts are the glue that holds families together across generations.

Panelists at several sessions agreed that family succession will not work well if the next generation really doesn’t want to take over the business. Effective succession planning requires keeping the lines of communication clear.

You can see some of the videos from EY World Entrepreneur Of The Yearat ey.com/weoy

Eileen Rockefeller

Key takeaway:Philanthropic efforts are the glue that holds families together across the generations.


IPO and Strategic Transactions Summit

Prepare, prepare, prepare!

With a surging M&A market and a robust IPO market, companies seeking to raise capital have the luxury of options — plenty of them. Attendees at the IPO and Strategic Transactions Summit heard from top advisors, executives and investors on how to approach and execute the right deal.

CEOs should start by making sure they’re raising money for the right reason, be it acquisition currency or growth capital. From there, said Steve Baxter of Transaction Level Investments, “You need a plan.” Going public brings not only capital, but also a certain

cachet — a boost to the reputation and a sense of accomplishment. It’s also the best way for founders who are looking to scale up to maintain effective control.

On the other hand, for some companies, especially start-ups, strategic partnering might be the answer. For others, bringing in venture capital will allow the company to continue building without the costs and obligations faced by public companies.

In all cases, the value of preparation — and making the deal decision based on the business, not just the market — cannot be overstated.

Moderator: Dr. Martin Steinbach, EMEIA IPO Leader, EY

Panelists: James Markham, Global Tax Leader – Strategic Growth Markets, EY; Ken Goldman, CFO, Yahoo! Inc.; David A. Brown, Head of Equity Capital Markets Advisory, Ernst & Young Capital Advisors, LLC

The IPO is just one part of a high-growth company’s path to success.


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Moderator: Holly Ransom, Chief Executive Officer, HRE Global

Panelists: Johan H. Andresen, Chairman, Ferd AS; David Deacon, Chief Talent Officer and Group Executive, Global Talent Acquisition, Management and Development, MasterCard; Jamal Edwards MBE, Founder, SBTV; Laurent Freixe, Executive Vice President and Zone Director for Americas, Nestlé S.A.; William H. Seito, President and CEO, InTecur, K.K.

Empowering the next generationHow do we offer “Generation Jobless” meaningful work experience? That questioned was tackled in a panel moderated by HRE Global’s Holly Ransom, Co-chair of the G20 Youth Forum.

“There are 75 million young people unemployed,” Ransom said, “but this is just the tip of the iceberg which comprises a much larger group of disengaged young. In the EU alone, the economic cost runs to €350 million per year.”

If we can get just 1% of unemployed young people into work, it will add $75b to the global economy, she added. Young people find themselves caught in a vicious circle of being unable to get hired because they have no experience, so getting that first job is absolutely critical.

According to its Chief Talent Officer David Deacon, MasterCard has so increased its hiring of millennials that today 35% of its global workforce is under 35. Laurent Freixe of Nestlé S.A. suggests education, government and business should work together: “together we can achieve more.”

An alternative route out of joblessness is entrepreneurship itself, but Europe suffers from a less go-getting attitude than the US. Johan H. Andresen of Ferd AS said, “In Norway we don’t have a culture of praising successful entrepreneurs — we ignore them.”

British vlogger Jamal Edwards MBE of SBTV encouraged young people to have self-belief and what he calls “info versus knowledge” — knowing that the manager interviewing him for a job at fashion retailer Topshop was a Chelsea football fan helped him land the role.


Moderator: Morgan Clendaniel, Senior Editor, Co.Exist, Fast Company

Panelists: Dr. Jennifer Nkuene Riria, Group CEO, Kenya Women Holding; Selim A. Bassoul, Chairman and CEO, The Middleby Corporation; Say Jim Tan, Group Managing Director and CEO, IRIS Corporation Bhd

Entrepreneurs without bordersThe panel of “Entrepreneurs without borders: collaborating to build a better world” took the title of their discussion literally from as soon as they met backstage. Over the course of a lively session, Dr. Jennifer Nkuene Riria, Say Jim Tan and Selim A. Bassoul decided on a project to address the global refugee crisis.

As Bassoul of The Middleby Corporation said, there are now 50 million refugees in the world, 68% of whom are women and girls. Their collaboration, born at World Entrepreneur Of The Year, will have many moving parts, including portable toasting ovens, polystyrene blocks and ecologically responsible farm systems — all enabled by micro-financing.

“Women need to be empowered within themselves,” said Riria of Kenya Women Holding (KWH) Group, which now serves more than 1.3 million women and has disbursed more than $1.9b over 20 years.

Tan of IRIS Corporation Bhd demonstrated his latest invention, From Sea to Salad, which uses polystyrene building blocks to create sturdy housing at the heart a family’s ecologically sustainable — and profitable — farm.

Bassoul was born in a refugee camp in Lebanon, and his interest in refugees’ plight remains central. Middleby has developed a portable toaster that can also recharge a cell phone.

Their conversation moved to the lobby, where the panel met with enthusiastic audience members and continued to define their new initiative.

Moderator: Kevin J. Delaney, Editor in Chief and Co-President, Quartz

Panelists: Ken Goldman, CFO, Yahoo! Inc.; Jennifer Li, Chief Financial Officer, Baidu, Inc.; William Wolfram, Founder and CEO, DealDash PLC; Jeffrey Wong, GM, Business Incubation Group, eBay

Making digital disruption your competitive edge“I feel like a kid in a candy store: there are so many opportunities to pursue,” said William Wolfram of DealDash PLC. He and four other tech leaders explored the digital change that is disrupting every industry sector from cars to health care, in a panel moderated by Kevin Delaney of digital news outlet Quartz.

Jennifer Li of Baidu Inc. echoed the sentiments of the panel when she said, “Mobile internet is the biggest opportunity in front of us,” adding that the extra dimension of geographic location offers new ways to connect people to services.

With apps accounting for almost 90% of smartphone internet usage and the mobile market growing by an estimated 1 billion new users every few years, the mobile space is unquestionably dynamic, Ken Goldman of Yahoo! said.

However, other technologies such as artificial intelligence (AI), the Internet of Things and data analytics are having a major impact on the world as we know it. Li explained how Baidu’s AI Lab in Silicon Valley is feeding the technologies of tomorrow into the company’s business model of today — for example, new visual recognition software is transforming how its customers use internet search.

Deciding which opportunities to follow and whether to buy or build requires both sound data and metrics, Goldman said, but in the end, he added, “There is no substitute for instinct.”


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Moderator: Morgan Clendaniel, Co.Exist, Fast Company

Panelists: Avi Reichental, President and CEO, 3D Systems; Laurence Negroni, EMEA Brand Communication Director, Steelcase Inc.; Risto Siilasmaa, Chairman, Nokia Corporation; Jason Port, founding investor, Quirky

Technologies that are reshaping the future — todayInstagram. Delivery drones. Self-driving cars. Innovative companies and products that are changing the world offer some powerful lessons for entrepreneurs:

The internet will continue to change everything (including your business). Jason Port of Quirky said the Internet of Things will create an app-controlled environment. Consider the effect this will have on your company’s offerings — and the security issues it raises.

Create workspace that encourages innovation. “You can’t design a workspace without technology, unless it’s intentional,” said Laurence Negroni of Steelcase Inc., explaining that her company designs some technology-free zones that allow people to rejuvenate and reflect.

Seed disruption. Use partnerships, collaboration and start-up seed funds to stay close to potential disruptors, said Avi Reichental of 3D Systems.

Don’t have customers — have fans. You can only do that by creating a culture that delivers distinctly excellent products, said Nokia’s Risto Siilasmaa.

The kids are all right. If you want some fresh ideas, ask some children, Reichental said. His company gives away 3-D printers to kids to spur innovation.

Moderator: Uschi Schreiber, Global Vice Chair – Markets and Chair – Global Accounts Committee, EY

Panelists: Austin Avuru, Managing Director and CEO, SEPLAT Petroleum Development Company PLC; Taavi Kotka, Government CIO, Ministry of Economic Affairs and Communications, Estonia; Emil Tedeschi, President and CEO, Atlantic Grupa; Marco Veremis, CEO and Co-founder, Upstream S.A.

The Power of ThreeWe call it “The Power of Three”: how public policy, corporate involvement and entrepreneurship can combine to drive growth. To explore the issue, Uschi Schreiber, EY Global Vice Chair – Markets and Chair – Global Accounts Committee, led a discussion on ways governments and corporates can work to support entrepreneurship.

On the topic of government, Austin Avuru of SEPLAT Petroleum Development Company PLC said, “In Nigeria, the biggest difference [for entrepreneurs] is a fair and reliable judicial system.” This led to a general acknowledgement of the corruption that can accompany a transition from a rent-seeking economy, where economic gain is sought without reciprocating back to society through wealth creation.

All participants agreed considerable advocacy is necessary to facilitate that evolution. “To be successful in an unsuccessful economy is a poor proposition,” said Emil Tedeschi of Atlantic Grupa.

A surprise consensus was that funding for entrepreneurs may no longer be the massive issue that it once was. Panelists viewed as a larger challenge the cultural reluctance to embrace failure as a necessary part of entrepreneurship. Tedeschi said, “You can’t create value without failure. It’s normal in business to fail. But in Croatia, if you fail, no one will speak to you.”

There was general agreement on the need for more education about what entrepreneurship is. A final piece of advice from Marco Veremis of Upstream S.A.: “If you’ve run a successful business, act as an angel investor to your own employees. And not only with advice — with money.”


A median workforce size of

1,714

6 female finalists

334,000 employees combined — and job growth of 48% in the last three years (2011–14)

* Data based on analysis of application forms of 53 country winners for EY World Entrepreneur Of The Year 2015

Entrepreneurs are reshaping our world

The median workforce size of companies over the last 15 years is 882

Moderator: Shereen Bhan, Managing Editor, CNBC-TV18

Panelists: Dr. Jean-Paul Clozel, Founder and CEO, Actelion Ltd.; Uday Kotak, Founder, Executive Chairman and Managing Director, Kotak Mahindra Bank Limited; Narayana Murthy, Founder, Infosys Limited

The view from the Winners CircleThree EY World Entrepreneur Of The Year Award winners gathered at Opéra Garnier to discuss the impact of winning and their advice for the next generation of successful entrepreneurs.

“This event has become much more global and more competitive,” Uday Kotak of Kotak Mahindra Bank Limited told moderator Shereen Bhan, news anchor for India’s CNBC-TV18. “There are many prizes now, but none carries the credibility.”

Each alumnus emphasized the importance of finding your passion, of building trust into business relationships and focusing on the middle term.

Narayana Murthy of Infosys Limited likened the decision to leave your company to “giving your daughter in marriage.” For Dr. Jean-Paul Clozel of Actelion Ltd., detachment was less easy. “When you spend 20 years on finding a drug and feel near to a breakthrough,” Clozel said, “it is difficult to feel detached.”

None were afraid of competition: on the contrary, they said competition was vital. According to Murthy, “Competition is the greatest management guru.” Each of our former winners emphasized the importance of building a business that can live without its founder. “I don’t want to be remembered too much,” Clozel said, “but I hope I can leave a company in good shape that will grow long after I’m gone.”


Women in Leadership

United Arab EmiratesIdriss Al Rifai fetchr (formerly MENA360)

Customer service has been top of mind for Idriss Al Rifai throughout his career. With an MBA from the University of Chicago Booth School of Business, he worked at an e-commerce company

and built an in-house logistics department to expedite customer deliveries. In 2012 he founded MENA 360, later renamed fetchr, which helps big retailers sell online in the fast-growing Middle East. Today, fetchr has exclusivity agreements with more than 100 companies such as Sony, Samsung, Fruit of the Loom and Carrefour.

USSarah Kauss S’well

While hiking in the Arizona desert, Sarah Kauss was frustrated that her metal water bottle had heated the water inside. She came up with the idea for S’well bottle, which keeps drinks cold for 24 hours and

hot for 12. Her versatile product is a fashion accessory, a drink container and the means to the company’s mission to rid the planet of plastic bottles. S’well bottles are sold in 35 countries and more than 10,000 retail stores, including J. Crew and Nordstrom.

Accelerating Entrepreneurs

Indonesia Stefanie Kurniadi Nasi Goreng Rempah Mafia

“The best thing I ever ate” is a recurring feature on Stefanie Kurniadi’s food blog, which she started in 2009. Always passionate about food and the culinary arts, Kurniadi founded Nasi Goreng

Rempah Mafia (Mafia Spice Fried Rice) in 2013. The company sells a variety of fried rice dishes in 32 outlets across 17 cities in Indonesia. The name Mafia comes from a stylized abbreviation for the popular Indonesian food, and the dishes have distinct names such as Yakuza and The Godfather.


A helping handAccelerating Entrepreneurs is part of EY’s commitment to helping high-potential entrepreneurs around the world scale their business through one-on-one guidance, networking and insight sharing. These six entrepreneurs met with our Growth Coaches to prepare for their growth journey toward becoming the global market leaders of tomorrow.

BulgariaIvaylo PenchevWalltopia

An avid climber, Ivaylo Penchev started Walltopia in 1998 with his friend Metin Musov. They have since created a global leader in the design, production and assembly of artificial climbing walls. It is

also the leading player in the US market. The company’s revenues have seen double-digit growth over the past four years, and it employs more than 300 people. Walltopia, which already exports to 50 countries, is on a mission to turn indoor climbing from an isolated, local sport into a global community.

TurkeyBulent Tekmenininal

As an internet entrepreneur, Bulent Tekmen traveled often to the US and realized he could not use his debit card without a US bank account. He discovered the prepaid cards widely used across the

country. Bulent saw that this form of payment would be extremely useful to those in Turkey who didn’t use banks and launched ininal in 2012. Since then, “the bank for the unbanked” as Tekmen calls it, has enjoyed spectacular growth, becoming the fastest-growing payment platform in the region. The company’s cards are now sold and topped up at 15,000 locations across Turkey.

NigeriaGossy UkanwokeBAU Research and Development

Always the innovator, Gossy Ukanwoke was called “Nigeria’s budding Mark Zuckerberg” by Forbes magazine. As a student, he

founded a social network for students that aggregates educational resources. Three years ago, Ukanwoke started BAU Research and Development, Nigeria’s first online university. BAU has the capacity to admit more than 60,000 students every year, and it has forged crucial partnerships with the private sector such as telecommunications companies that have allowed BAU to reduce the cost of access for students.


Defying all oddsCongratulations, Mohed Altrad Altrad Group, France

EY World Entrepreneur Of The Year 2015 Award winner

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The life story of Mohed Altrad, the EY World Entrepreneur Of The Year 2015, reads like a bestseller — which it is. His autobiographical novel, Badawi, is taught in some French schools as part of the literature curriculum. It is the tale of a child born to a nomadic tribe in the Syrian desert who defied all odds to realize his dreams.

Altrad moved to France when he was 17 and earned a PhD in Computer Sciences. He and a partner bought a nearly bankrupt scaffolding maker in 1985 to form the basis of what is now Altrad Group. Today, his company employs 7,000 people in 110 subsidiaries globally. It is the world leader in cement mixers as well as a European leader in scaffolding and wheelbarrows.

Acutely aware of the problems of youth unemployment, Altrad sponsors apprenticeships and qualification scholarships. In addition,

he supports Doctors Without Borders and the French League Against Cancer. He is also President of Montpellier Hérault Rugby Club.

At the 7 June award ceremony in Monaco, Mark A. Weinberger, EY Global Chairman & CEO, called Altrad an inspiration to entrepreneurs around the world. Altrad places great emphasis on sharing with his employees his own values: loyalty and integrity, trust and passion, respect for differences and cultures, humanism and the quest to excel.

“I’m so honored to receive this prestigious award, especially as there was such strong competition from such outstanding entrepreneurs around the world,” Altrad said. “I would like to dedicate this award to my family and all the people within the organization, without whom the success of Altrad Group would not be possible.”

“Believe in the future. Believe in what

you are doing. Believe in yourself. All of us will make

a better future.”— Mohed Altrad

President, Altrad Group

Believe in the future


Women in Leadership

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What makes a world-changing innovator? We left it to the experts.

Front: Nobuyuki Idei, Quantum Leaps Corporation; Rebecca MacDonald, Just Energy Group (Chair); Dr. Ruth Oltjer, Chemi-Pharm AS

Back: Michael Wu, Hong Kong Maxim’s Group; Ewald Raben, Raben Group; Fadi Ghandour, Aramex and Wamda Capital; Tan Sri Liew Kee Sin, EcoWorld Development Group Berhad

True success? They’ve been there and they’ve done that. That’s why we asked these seven distinguished individuals to select the EY World Entrepreneur Of The Year 2015 — because it takes one to know one. We thank these judges for their hard work and dedication. We say this every year because we really mean it. We couldn’t have done it without you!

Rebecca MacDonald, Founder and Executive Chair of Just Energy Group and Chair of the World Entrepreneur Of The Year Judging

Panel, said: “This year it was a tough but ultimately unanimous decision. Mohed has built a hugely successful, fast-growing international business having overcome a humble and very challenging upbringing. He was forbidden from going to school as a child, moved to France to set up a new life and is now one of the country’s most successful entrepreneurs. The judges were impressed by his ability to build and sustain growth over 30 years and by his humility and character.”

Our distinguished panel of judges


Country winners

10,000 nominations145 cities60 countries1 award

Congratulations to our country winners


Dr. Hugo SigmanFounder, CEO and shareholder

Arkadiy DobkinCEO and President

Kenneth LoChairman

Joe DavenportDirector

Fernand HutsCEO and President

Xiu LaiguiChairman

Owen KerrDirector

Karl HutsBusiness Unit Manager, Port and Operations

Gigliola Aycardi Co-founder and Executive Vice President

Dr. Werner ThallnerExecutive Operations and Financial Director

Pedro LimaPresident

Nicolás LoaizaCo-founder and President

Hermann WaltlExecutive Sales and Customer Support Director

Linda HasenfratzCEO

Alan SuminaFounder

Friedrich Paul LindnerExecutive Technology Director

Rolando CarmonaCEO

Zoran VučinićFounder

Austria

Brazil

Colombia

Canada

Croatia

Chile

Australia

Belgium

China — Mainland

Argentina

Belarus

China — Hong Kong

EV Group GmbHPepperstone

Katoen Natie 3corações Group

Bodytech

Linamar Corporation Drillco Tools S.A.

Nanobit

Grupo Insud

EPAM Systems

Crystal Group Xiuzheng Pharmaceutical Group

Co., Ltd.


Vlastislav BřízaOwner and CEO

Jan BeckersFounder and CEO

Oscar FarinettiFounder and creator

Michael SeifertCo-founder and CEO

György WábererFounder, Chairman and CEO

Morio SasePresident and CEO

Dr. Thaer DarwishFounder

Dr. Mikko WirénFounder and CEO

Iwan Setiawan LukmintoPresident Director

Khaled DarwishFounder

Mark RodenFounder and CEO

Andrey LavrentyevPresident

Benny LandaChairman and CEO

Finland

Indonesia

Jordan

Ireland

Kazakhstan

Israel

Denmark

Hungary

Japan

Czech Republic

Germany

Italy

TBC BankRaidla Lejins & Norcous

Serum Institute of India Ltd.

PT Sri Rejeki Isman Tbk. (Sritex)

Sindbad Group

ding* Landa Group

AllurGroup

KOH-I-NOOR holding a. s.

HitFox Group GmbH

Eataly Distribuzione S.r.l.

HotLand Co., Ltd.

Jüri RaidlaFounder and Senior Partner

Estonia

Mohed AltradPresident

France

Mamuka KhazaradzeChairman of the Supervisory Board

Georgia

Pihlajalinna Group Altrad GroupSitecore Corporation

Dr. Cyrus PoonawallaChairman and Managing Director

India

Waberer’s International Pte. Co.

Bashar ZawaidehFounder


Dr. Simon GicharuFounder and Chairman

Dan RadcliffeExecutive Director

Alexey Evgenievich RepikFounder and Chairman of the Board

Dong Nyung KimChairman

Jubril Adewale “Wale” TinubuGroup Chief Executive

Lateefa AlWaalanFounder

Božo JankovićOwner and CEO

Sergio Argüelles President and CEO

Rosario Bazán General Manager

Adam KrzanowskiCEO

Bert MeulmanCEO

Mircea TudorPresident and General Manager

Eva StejskalováCo-founder, Finance Director and Head of Application Software Development

Mexico

Peru

Serbia

Poland Romania

Korea

Nigeria

Saudi Arabia

Kenya

New Zealand

Russia

B&S International B.V.Silverlake Axis Ltd.

Norsafe AS DanPer

Enterijer Janković Ltd.

Nowy Styl Group MB Telecom Ltd. SRL

MicroStep, spol. s r.o.

Mount Kenya University

International Volunteer HQ

R-Pharm Yatooq Coffee

Peng Ooi GohFounder and Group Executive Chairman

Malaysia

Willem BlijdorpFounder and Supervisory Board Member

Netherlands

HANSAE YES24 HOLDINGS

FINSA

Geir SkaalaFounder and CEO

Norway

Oando PLC

Dr. Kar WongFounder and Managing Director

Singapore

The Advanced Group of Companies

Alexander VargaCo-founder and CEO

Slovak Republic

Women in Leadership


Asher BohbotCEO

James WangCEO and President

Ernesto Antolín ArribasChairman

Rosemary SquireCo-founder and Joint Chief Executive

Victor JacobssonCo-founder and Board Member

John Christian SchandyPresident

Niklas AdalberthCo-founder, Deputy CEO and Board Member

Vu Phuoc LeChairman

Uruguay Vietnam

Spain

United Kingdom

South Africa

Taiwan

Otto Hofstetter AGGrupo Antolín

Ambassador Theatre Group

SCHANDY Hoa Sen Group

EOH

Sercomm Corporation

Sebastian SiemiatkowskiCo-founder and CEO

Sweden

Klarna AB

Otto Fritz HofstetterCEO

Switzerland

Dr. David HungPresident and CEO

United States

Medivation

Our world needs entrepreneurs. Where others have doubts, they bring optimism. Where some see only risk, they see opportunity. They have passion, self-belief and an extraordinary drive to keep going when others would give up. We need their unique gifts now more than ever.

These special people have created many of the world’s most dynamic and successful companies. We’ve been honored to guide so many of them on their journey. The EY Entrepreneur Of The Year Award celebrates their remarkable achievements. That’s why it’s the world’s most prestigious business accolade — it recognizes the most exceptional among a unique group of people.

Keep going. Keep growing. The world needs you.

Congratulations from the entire EY family to all our Entrepreneur Of The Year country winners. Mark A. WeinbergerEY Global Chairman & CEO


Jamal Edwards MBE@jamaledwards

It’s important to make sure the entrepreneurial voice is heard. #BETTERQUESTIONS #WEOY #YOUTHEMPLOYMENT

Alain Juppé @alainjuppe

Bravo à Mohed Altrad, Prix mondial de l’Entrepreneur 2015. Du désert de Syrie à une entreprise de 17000 salariés. #WEOY

Sugan Palanee@suganpalanee

Interesting fact: Almost half of the NASDAQ 100 listed companies are run or were founded by EOY winners. #WEOY

Maguy Maccario Doyle@monacoinusa

Women Entrepreneurship in Emerging Markets — Cherie Blair interviewed by Uschi Schreiber #WEOY

Sarah Kauss@sarahkauss

amazing @EY_WinningWomen Kerrie + @c_mcmorrow Cheering team Canada #WEOY @RedwoodClassics your shirts are such a hit!

Penny Haslam@pennyhaslam

Blimey. Now that’s a firework display. Roof slid back to reveal this! #WEOY

Jaguar España@jaguarspain

Patrocinadores de la conferencia “World Entrepreneur of the Year”. Nos esperan días emocionantes en Mónaco. #WEOY

Bex Burn-Callander@sparky000

Sir Martin Sorrell’s advice to business owners that want to grow global companies? “Learn Mandarin and learn to code.” #WEOY

David Shackleton@dshackleton

“Vice Presidents ruin everything” — Biz Stone #WEOY

Holly Ransom @hollyransom

No big deal but the #FourTenors just rocked up at dinner & then the roof retracted and this happened #WEOY #FIREWORKS

MasterCard Center@cntr4growth

Companies can play role preparing young people for success --> inclusive growth #WEOY

l’Opinion@lopinion_fr

Mohed Altrad, 1er patron français à décrocher le prix #WEOY http://t.co/j4wAyztd11

Want to see more?Go to ey.com/weoy where you will find profiles of our country winners and the judging panel, keynote speakers in action, panelist videos and thought leadership.

You won’t want to miss a minute.


Who will inspire us next?Save the date to join the best entrepreneurs in the world.

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About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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. For more information about our organization, please visit ey.com.

About EY Entrepreneur Of The Year™EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. www.ey.com/eoy

© 2015 EYGM Limited. All Rights Reserved.

EYG No. BE0283ED None.

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.

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