Applications now open in Malaysia for the fifth cohort of the EY startup incubator program in Asia-Pacific
KUCHING: Early-stage tech startups in Malaysia are invited to apply to the EY Foundry startup incubator program to accelerate business growth through piloting and scaling activities with EY, in particular the EY Tax service line.
This year, the EY organization announced the continued expansion of the EY Foundry startup incubator program into Cambodia, Guam, Thailand and Vietnam. These markets will join Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore and Sri Lanka, where the program has been running since 2018.
Amarjeet Singh, EY Asean Tax Leader shared, “Our incubator program has a new focus on innovation. Start-ups 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 centered on people and wellness.
“With the geographic expansion of this year’s program to include more countries in Southeast Asia, more startups in the region will have the opportunity to participate in the program and scale their business. By supporting the growth of the start-up ecosystem, this will help to unlock new opportunities for the region.”
Successful applicants to the program will be announced at a virtual launch event to be held in June 2022. Winning startups will be offered six months of participation in activities that include tailored learnings by EY subject-matter professionals, as well as EY piloting sessions to better prepare startup products to access the corporate community.
EY Foundry takes no equity in the startups and to further support the program’s participants in building their technology, the successful applicants will be given US$120,000 worth of Microsoft Azure credits.
Program Director of EY Foundry in Malaysia and Malaysia Tax Leader, Ernst & Young Tax Consultants Sdn Bhd, Farah Rosley added: “EY Foundry has been very well received by the startup community in Malaysia since its launch in 2020.
“Last year, we saw strong representation from our local startups in the program’s fourth cohort across Asia-Pacific. This is a recognition of the potential of our local entrepreneurial talents and the healthy startup ecosystem in the country.
“Through this incubator program, we look forward to continue working with the relevant ministries and agencies to connect with the startup communities from across diverse sectors as well as supporting more budding entrepreneurs in Malaysia to achieve greater scale and impact by leveraging our professional experience, industry capabilities and global network.”
To qualify for the EY Foundry program, applicants must fulfill a set of criteriam including be an early-stage startup (Series A funding or earlier) that is technology- or product-related; be able to demonstrate how the startup adds value to the EY business; and have a working prototype or be working toward having a prototype that is scalable and can be used internationally.
Founders of startups are invited to apply to the program until April 29, 2022 at ey.com/eyfoundry.