EY expands support to startups, growth enterprises in SEA
By Digital News Asia October 23, 2018
- Over 840 companies and 380 investors enrolled, and over 17,000 investor-company matches made
- Investors indicated intentions to deploy up to US$6.2 billion of capital for investments in SEA this year
PROFESSIONAL services organisation, EY, returns to the third edition of the Singapore Fintech Festival to power Meet Asean’s Talents and Champions (MATCH), a new component of the annual festival by the Monetary Authority of Singapore (MAS).
MATCH is a deal-making portal that curates and matches promising next-generation Southeast Asia enterprises with global private equity and venture capital. The matchmaking exercise for companies and investors was conducted from May to September 2018.
Max Loh, EY Asean and Singapore managing partner, Ernst & Young LLP says, “On the back of fast-growing economies, a digital-savvy young middle-income population and high mobile and internet penetration rates, we see a thriving entrepreneur and startup ecosystem across Southeast Asia, particularly in the technology and fintech sectors.
Having said that, many SMEs continue to face challenges in seeking access to funding or opportunities to connect with the right investors. Leveraging on our experience working with investors around the world and in the entrepreneurial space, we contribute to the startup and fintech ecosystem by providing a platform for them to connect, network and hopefully facilitate investment deals.”
Over the last three months, MATCH saw over 840 companies and 380 investors enrolled and generated over 17,000 investor-company matches. Participating investors indicated intentions to deploy up to US$6.2 billion of capital for investments into Southeast Asia in the immediate year, and another US$6 billion over the subsequent two years.
The top sectors of interest based on number of participating investors are fintech, followed by healthcare and medtech, infocomm technology, business services, and education.
Within fintech, the key sub-sectors that drew the most investor interest are blockchain, followed by data analytics and payment solutions.
Among the larger investors, most are private equity general partners and corporate venture capital players with primary focus in fintech, healthcare and medtech and infocomm technology.
To facilitate deal-making, EY together with the MAS co-hosted the inaugural Deal Day on Oct 5, 2018, which saw over 400 curated meetings between investors and prospective enterprises. Beyond Deal Day, EY is continuing to connect investors with enterprises that fit their investment profile.
Loh says: “Investors see value in such a deal-matching platform. Participating investors have told us that they found this ‘speed-dating’ event useful as it helps them to effectively uncover potential start-ups to invest in.”
MATCH will culminate in the Global Investor Summit on Nov 13-14, 2018, a new component of the Singapore Fintech Festival 2018.
Other supporting EY programmes and tools
In supporting entrepreneurs and startups in the growth markets and fintech space, EY also leads these programmes and tools to support these companies to grow and scale:
EY Fintech Hub: A community-driven platform that connects the fintech ecosystem and provides innovative solutions to corporates that are looking to boost productivity through technological and strategic solutions.
Accelerating Entrepreneurs: This programme helps fast-growth startups scale their business through one-to-one guidance, networking and insight sharing. It is designed to help accelerate entrepreneurs through the next steps of their growth journey to become future market leaders.
EY Entrepreneur Of The Year: An annual awards programme that honours Singapore’s top entrepreneurs for their contributions to the economy and society, culminating in the World Entrepreneur Of The Year award.
EY Entrepreneurial Winning Women: This programme identifies successful women entrepreneurs whose businesses show real potential to scale and provides them with the support, resources and access to help accelerate their growth.
EY Growth Navigator: This user-friendly app allows fast-growth companies to assess their business against leading practices and gain a greater understanding of how each of their functions can contribute to customer value and accelerated growth.
EY Strategic Growth Forums: This event brings together CEOs, entrepreneurs, government leaders, investors and advisors from around the world to share experiences on accelerating growth, innovation and disruptive forces.