Singapore (24/02) – RUN System, a software provider company in the field of Enterprise Resources Planning (ERP), was selected as one of 12 start-ups in Asia Pacific and the only one from Indonesia to have successfully entered the EY Foundry Cohort 4 incubation program.
EY Foundry is a dedicated incubation program for early stage start-ups in the accounting, tax, FinTech, legal tech, regulation tech and HR tech space. This program focuses on helping startups accelerate business growth and technological development.
Cohort 4 begins in early March 2021 for a period of six months and the participants will receive US$120k worth of Microsoft Azure credits, part of the ongoing support from Microsoft for Start-ups. These credits help founders to develop their technology stack. Participants will also benefit from a range of EY industry insights and a wealth of EY experience in improving business growth.
Unlike previous years, this year’s EY Foundry Cohort 4 program was implemented virtually due to the Covid-19 pandemic. This year EY received more than 270 applications from various start-ups in Asian and Oceania countries such as Indonesia, New Zealand, Australia, Singapore, Philippines, Malaysia, and Sri Lanka.
“The eight winning participants in ASEAN (including Indonesia, red) offer an impressive range of business services that includes making accounting and payments smarter, automating business processes, improving credit accessibility, as well as helping leaders gain insight into their business and people data,” said Amarjeet Singh, EY Asean Tax Leader and Tax Managing Partner, Ernst & Young Tax Consultants Sdn. Bhd.
“These start-ups demonstrate how the application of technological innovation can be used by businesses to accelerate their own digital transformation – a key business priority in the post-pandemic new normal,” he added.
Over the past two years, the EY Foundry program has incubated three cohorts, a total of 12 start-ups, and facilitated over 450 meetings, product demonstrations to EY and enterprise teams and technology pilots within the global EY network.