EY calls for applications for its new startup incubator programme

SINGAPORE (Mar 18): EY is calling for applications to its incubator programme – EY Foundry – for early stage start-ups in the accounting, tax, fintech, legal tech and regulatory tech space in Singapore.

Successful applicants will be announced at the official launch of the program in June 2019. Up to five startups will be offered a six-month rent-free residency at the EY wavespace in Singapore, EY’s innovation and growth centre that helps companies innovate and transform their businesses.

See: EY launches wavespace centre to help businesses transform through innovation

Over the course of the residency, participants will benefit from a tailored learning programme based on EY industry insights and experience in helping start-ups accelerate their business growth and develop their technology.

EY will not be taking any equity in the startups, but instead EY will be further supporting participants by giving them $120,000 worth of Microsoft Azure credits.

Participants will also have the chance to pitch their ideas, technology or products created from their time in EY Foundry to EY leaders and the supporting corporate community.

Soh Pui Ming, Singapore Head of Tax, Ernst & Young Solutions LLP says, “Singapore has a vibrant start-up ecosystem and is well-connected with other innovation hubs in the region. In addition, the country is also a regional hub of choice for professional services, which is set to grow as an economic contributor. We are excited by how our experience, scale and resources can help to unleash the potential of emerging technopreneurs in this space, and the difference this can make to Singapore’s overall innovation footprint.”

To qualify, applicants must fulfil a set of criteria:

• An early stage (pre-series A funding) start-up that is technology or product-related (not a service offering)

• Have a working prototype or working towards a prototype that is scalable and can be used internationally

• Have a headcount of four individuals or less, with demonstrated experience in the relevant industry

• Cash flow to sustain nine months of operations

• Must be able to provide a business pack in the EY Foundry application

Startup founders who qualify can apply for the programme from now till Apr 26, 2019 here.