Big Four firm EY has established an incubator programme in Singapore called EY Foundry aimed at startups in areas like legaltech, tax, accounting, fintech and regtech.

As part of this programme, up to five startups will be offered a six-month rent-free residency at the EY wavespace in Singapore. The wavespace is an innovation and growth centre which was inaugurated last year to help companies innovate and transform their businesses.

Over the course of the residency, participants will be introduced to a learning programme based on EY’s industry insights and experience in helping start-ups accelerate their business growth and develop their technology.

Additionally, EY, to support participants in building their technology stack, will be give S$120,000 ($88,000) worth of Microsoft Azure credits. Participants will also be able to pitch their ideas, technology or products generated from their time in EY Foundry to EY leaders and the supporting corporate community.

Recently, Cyril Amarchand Mangaldas, India’s largest law firm by headcount, set up a legaltech incubator called Prarambh, which is said to be the country’s first.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.