New Selection Process for World Economic Forum’s Global Growth Companies
Vivian Yang, Senior Media Manager, Tel.: +41 (0)22 869 3534, firstname.lastname@example.org
- Forum will honour up to 150 companies a year from around the world as Global Growth Companies
- Regional nomination and selection committees composed of business, media and academic leaders will assess candidates based on: sustainable growth; impact; leadership team; and global corporate citizenship
- Nominate candidates and find out more about the new selection process by clicking on http://www.weforum.org/ggc
Geneva, Switzerland, January 27, 2014 – The World Economic Forum announced today a new selection process for its Global Growth Company (GGC) community of innovative high-growth businesses.
GGCs are commonly identified as small to medium-sized businesses that have the ability to deliver positive change and the potential to become leading multinationals, through business models, growth rates, leadership, or the markets they serve. Under the new selection process, nominations to the GGC community will be opened to the public, as well as the Forum’s network of Members, Partners and academic leaders.
These nominations will be overseen by regional selection committees composed of top business, media and academic leaders from each region. They will evaluate and select candidates based on four criteria.
- Growth – Demonstrated record of above-average, sustainable growth in the past three to five years
- Global corporate citizenship – Proven commitment to positively influencing the societies and regions where they operate
- Leadership – Impeccable track record and visionary leadership of top executive team
- Impact – Major influence in their industry and national or regional competitive fields
The changes have been made to enable greater public participation in the annual selection process of GGCs, which culminates in the announcement of new candidates each September at the Forum’s Annual Meeting of the New Champions, otherwise known as the Summer Davos, in China. The move also brings the GGC community into alignment with the way other World Economic Forum New Champion communities – including Global Shapers, Young Global Leaders and Technology Pioneers – select new candidates.
The first 150 candidates to be selected under the new procedure will be announced at the Annual Meeting of the New Champions in Tianjin, China, 10-12 September 2014. As well as attending the Annual Meeting of the New Champions, these honourees will have the opportunity to participate in the Forum’s regional meetings, projects and knowledge products, which will support their growth as they navigate new geographies, markets, cultures and regulatory systems.
The Forum aims to increase the size of the community from 370 now to 500 by 2016.
To nominate GGC candidates and find more information on the selection process, please visit: http://www.weforum.org/ggc
The GGC community is composed of rapidly growing emerging multinationals. It was founded in late 2007 and currently has more than 370 members from over 60 countries. The community was created to recognize the next generation of industry leaders and to support them through the Forum’s unique platform to interact with leaders from business, government, academia, media and civil societies.
The following are examples of current active Global Growth Companies: Access Bank Nigeria (Nigeria), comScore (USA), Desso (Netherlands),GEMS Education (United Arab Emirates), Genpact (India), Grupo Herdez (Mexico), IDEO (USA), illy Caffè (Italy), Kaspersky Lab (Russian Federation), Lynas Corporation (Australia), Monashees Capital (Brazil), Mozilla Corporation (USA), PT Indika Energy Tbk (Indonesia), QI Group (Malaysia), Trina Solar (People’s Republic of China), TrueCar (USA).
Notes to Editors
Find more on the GGC community at www.weforum.org/ggc
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