EY-Parthenon partners with startup accelerator Plug and Play
EY-Parthenon, the strategy consulting business of EY, has formed a global collaboration with Plug and Play, a Silicon Valley-headquartered startup ecosystem and venture fund.
Founded in 2006, Plug and Play runs accelerator programs for early- to growth-stage tech startups, drives corporate innovation by connecting promising startups with large corporations, and provides venture capital. The company runs over 50 industry-themed accelerator programs per year across 30+ global cities, works with more than 400 industry-leading corporations, and invests in more than 260 companies per year.
There are currently more than 30,000 startups in Plug and Play’s ecosystem, and its most successful exits include Dropbox and PayPal.
EY-Parthenon’s collaboration with Plug and Play will allow its clients to tap the startup ecosystem and incorporate disruptive technology to drive growth.
“With Covid-19, we've witnessed an acceleration of trends that were already disrupting every industry," said Mitch Berlin, EY-Parthenon Americas leader. "We're also experiencing a growing trend in corporate venture capital and corporations that are increasingly looking to start-ups to advance their innovation and growth agenda.”
The global collaboration will initially focus on startups working to innovate the retail value chain in Plug and Play’s brand & retail program. EY’s clients will be able to build, buy, or partner with startups working to solve industry challenges with disruptive technology.
Jim Doucette, leader of the consumer products and retail sector at EY-Parthenon Americas, notes that the industry is changing rapidly, and companies will need to innovate to remain competitive. “Collaborating with Plug and Play allows us to bring our clients the latest trends in emerging technology and understand how their business can be transformed by incorporating digital transformation as a key component of their strategy," he said.
EY Global recently announced the creation of a dedicated Microsoft Services Group – the first of the Big Four accounting and consulting firms to do so.
