EY startup incubator programme expands to more Asean countries

EY ON Thursday (Mar 24) announced the expansion of its EY Foundry startup incubator programme into Cambodia, Guam, Thailand and Vietnam.

The programme has been running since 2018 in Singapore, Malaysia, Indonesia, the Philippines, Sri Lanka, Australia and New Zealand.

EY Foundry helps early-stage tech startups to grow by piloting and scaling activities with the EY organisation - particularly its EY Tax service line. Eligible startups need to be early-stage (Series A funding or earlier) and be technology or product-related.

Winning startups will be offered 6 months of participation in activities that include tailored learnings by EY subject-matter professionals. EY will also pilot sessions to better prepare startup products to access the corporate community.

It will take no equity in the startups, but will give successful applicants US$120,000 worth of Microsoft Azure credits to support the programme participants in building their technology.

EY is especially keen to work with startups that can enhance its tax practice.

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Amarjeet Singh, EY Asean tax leader and tax managing partner at Ernst & Young Tax Consultants, said the incubator programme has a new focus on innovation.

"Startups from all sectors are invited to collaborate with us in developing pilot solutions to enhance our clients' experience and develop the services of tomorrow, leverage disruptive technology to create new markets and business models, meet sustainability goals, and stay centred on people and wellness," he added.

The programme will be open for application until Apr 15.