The EY Americas Tax Innovation Foundry will hear pitches from tech startups at the first FinTech Pitch Day on June 28 in Boston. The Foundry is EY’s in-house accelerator for tax technology, charged with furthering the next generation of tax services EY firms offer clients.
For the pitch day, EY invites global fintech (financial technology) startups from around the world to pitch disruptive technology solutions. From those submissions, 12 applicants will be selected to present to EY leaders. According to a statement, the Foundry’s objective is to provide the selected startups an opportunity to collaborate with EY on future projects.
“Tremendous shifts in global tax policies, industry-changing business models and the development of real-time, often digitally enabled, capabilities pose an uncertain future for the tax industry,” said Chirag Patel, leader of the Foundry, in a statement. “We have a demonstrated track record of working with entrepreneurs and launching businesses within the EY organization, and we are highly motivated to engage startups and pursue business relationships, investments, experiments or acquisitions.”
EY FinTech Pitch Day is part of the Big Four firm’s overall global tax innovation strategy to further the next generation of tax services. EY tax teams are tasked with discovering, designing and commercializing new tax services, with an emphasis on deployment of new technology platforms, under the guidance of Jeff Saviano, head of both EY Global Tax Innovation and Americas tax innovation, solutions and technology.
“In this shifting landscape, we are challenging ourselves to embrace disruption and think differently to drive bolder approaches to our clients’ most pressing challenges and deliver exceptional client service,” stated Saviano. “By adopting a balanced, comprehensive approach to innovation, we will help ensure the next generation of tax services meet the needs of the transformative age in which we live. The opportunity to discover a new, leading, client solution from a startup is incredibly exciting to me and other leaders in the EY organization.”
Interested startup applicants should demonstrate global industry insights and knowledge, client access, commercial pilots, general startup advice or perhaps even a strategic relationship or acquisition. They should, at a minimum, have a working prototype of the solution they are developing, an explanation of the problem they are trying to solve, the market opportunity and their strategy to commercialize and grow the business. Registrations for applicants are due by June 8. Apply here.