Nominations for EY Malta's 2018 Entrepreneur of the YearTM award close on 9 February. We spoke to EY Malta's managing partner, Ronald Attard about the award and what awaits the winner.
The Malta EY Entrepreneur of the YearTM award is taking place for the second year. What is the main purpose of this award?
The Entrepreneur of the YearTM award has two main objectives. These are to promote entrepreneurship in Malta and to empower entrepreneurs to grow their business both locally and around the world.
The programme celebrates the success of entrepreneurs, the positive impact they're making on society and the economy, and the legacies they're building. Just being nominated can elevate a company's profile through exposure to other entrepreneurs, sponsors, judges and guests. The winners also benefit from significant international visibility which could spur on and drive the next phase of their company's growth.
It is a unique opportunity for entrepreneurs in Malta from all sectors, regardless of whether they have been in business for two, 20 or 40 years, to demonstrate their entrepreneurial spirit and personal integrity, while showcasing their business and vision for its future.
Tell us a bit more about the process of the award. Who can apply and how? And how will the winner be decided?
Nominations for this year's award are open until 9 February and can be made online at www.eoymalta.com. Anyone, including employees, company advisors and financiers can nominate an entrepreneur, with the latter's consent, although many of the nominations come from the entrepreneurs themselves.
Once nominations close, those that fulfil the criteria are shortlisted and are then interviewed by an independent judging panel. This year's panel will be chaired by Joseph Gasan and will also include Alfred Pisani, who won the 2017 Entrepreneur of the Year award, Andrew C. Beane, Frank V. Farrugia and Paul Abela. With such a panel, the finalists will have an opportunity to meet some of Malta's top leaders from business and industry which in itself is an invaluable experience.
The judging panel will, in fact, select two winners: The EY Entrepreneur of the Year and the EY Rising Star. The latter award, which last year was won by David Vella from Altaro Software, aims to recognise an ambitious, up and coming entrepreneur who has an innovative business which is growing quickly and generating excitement in the marketplace.
In deciding the winners of both the Entrepreneur of the Year award and the Rising Star award, which will be announced in March, the judges will be looking at more than just the financial performance of the business. Based on a balanced scorecard, awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in areas such as innovation, business leadership, risk and personal commitment to their businesses and communities.
Apart from the possible honour of winning, what other benefits can Maltese entrepreneurs derive from taking part?
As I mentioned, those entrepreneurs who are shortlisted will have an opportunity during the judging process to meet some of Malta's top business leaders. This is a great learning and networking opportunity for some of the younger entrepreneurs taking part. For the winners of both the Entrepreneur of the Year award and the Rising Star award, there's also the significant benefit of attending EY's World Entrepreneur of the YearTM award event which takes place in Monaco every June, and the exposure and opportunities that come with it.
It is truly rewarding for us to be giving, every year, a Maltese entrepreneur or business the chance to compete with the world's best and a shot at the title of the World Entrepreneur of the Year.
Participation in the awards process elevates your company's brand awareness through exposure to entrepreneurs, sponsors, judges and guests, many of whom may be seeking suppliers, alliances, M&A or other growth opportunities. The programme also credentialises your business to investors, employees and customers and gives you the opportunity to celebrate achievements and publicly recognise the contributions of the team who made it possible.
Entrepreneur of the Year alumni include some of the most influential, innovative and exclusive entrepreneurs in the world ‒ Guy Laliberté, the founder of Cirque de Soleil; Amazon founder Jeff Bezos; Reid Hoffman of LinkedIn; Formula One's Eddie Jordan; Google's Sergey Brin and Larry Page and Howard Schultz of Starbucks, to name a few.
EY's World Entrepreneur of the Year programme, in fact, runs in 165 cities and regions in over 60 countries. It is the world's biggest and most prestigious business award for entrepreneurs and the only one with a truly global dimension.
Again, for the Malta winners, the opportunities to network with, and learn from such a distinguished group of business leaders is priceless.
What advice would you give to any entrepreneurs wishing to participate in this year's Malta EY Entrepreneur of the YearTM award?
My advice really would be to just go for it. The nomination process is quite straightforward and this really is a unique opportunity for Maltese entrepreneurs to shine not only nationally but on a global stage. The entire process has the potential to be very rewarding so even those who do not win an award, will still definitely benefit from the experience.