IES-INCA Partners ISCA to Grow Deep Tech Ventures through Investor Network

The IES-Incubator and Accelerator (IES-INCA), a deep tech incubator set up by the Institution of Engineers, Singapore (IES) for entrepreneurial engineers, today signed a Memorandum of Understanding (MoU) with the Institute of Singapore Chartered Accountants (ISCA) to accelerate the growth of new technology ventures. 

This two-year partnership will bring together the national bodies of two professional groups - engineers and accountants - to accelerate the creation of strategic technology products, services and solutions to catalyse Singapore’s growth. 

Under the MoU, IES-INCA and ISCA will foster the IES-INCA Investor Network to promote opportunities to invest in technology ventures that are scaling up. The network will present IES members, ISCA members and industry partners with exclusive opportunities to explore cutting-edge technologies, invest in local start-ups and network with fellow professionals. 

IES-INCA will organise events to facilitate business matching between incubatee companies and investors. Both parties will also hold joint networking and engagement events to facilitate collaboration among their members. Through the partnership, incubatee companies can leverage ISCA members’ expertise and receive financial advice on their pitch decks, such as business modelling, financing forecasting and business valuation. 

As both IES-INCA and ISCA share a strong commitment to advance Singapore’s sustainable development agenda, the MoU will focus on capacity-building, education and cross profession collaborations in the sustainability space. The partners will run workshops on sustainability, entrepreneurship and technology development to equip members with the necessary interdisciplinary knowledge to capture deep tech venture opportunities in the sustainability space. 

“IES-INCA’s alliance with ISCA will enhance our incubatees’ access to valuable advice on accounting and finance matters including business models, financing forecasting and business valuation. The Investor Network will open up avenues for our members to be part of the exciting journey of promising technology ventures and accelerate the creation of new technologies to power Singapore’s sustainable development,” said Er. Chong Kee Sen, Chairman of Board of Directors, IES-INCA. 

“Accountancy professionals have the business acumen and financial expertise that are vital in steering incubatee companies toward sustainable growth and stability. Via this partnership, our members can contribute to Singapore’s start-up ecosystem while learning more about deep tech ventures and potentially investing in them,” said Mr Teo Ser Luck, ISCA President. 

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Notes to media:

i. Chinese Glossary Terms in English	Terms in Chinese
The Institution of Engineers, Singapore (IES)	新加坡工程师学会
IES-Incubator and Accelerator (IES-INCA)	新加坡工程师学会起步培育与加速器
Er. Chong Kee Sen IES-INCA Chairman	张奇善 新加坡工程师学会起步培育与加速器主席
Institute of Singapore Chartered Accountants (ISCA)	新加坡特许会计师协会
Teo Ser Luck ISCA President	张思乐 新加坡特许会计师协会会长

 

ii. About The Institution of Engineers, Singapore (IES)
The Institution of Engineers, Singapore (IES) was formally established in July 1966 as the national society of engineers in Singapore. IES is the premier engineering institution in Singapore and is called upon by the Government to provide feedback on professional engineering matters.

IES is well represented among the faculty members of the major engineering institutions of higher learning in Singapore. Through close collaboration with the local universities and polytechnics, IES organises courses, seminars and talks for engineers and IES members to advance the continuous development of engineers.

The Institution maintains close links with professional organisations of engineers regionally and throughout the world. These include organisations in Australia, China, Japan, United Kingdom and the United States. The Institution also represents Singapore in the ASEAN Federation of Engineering Organisations (AFEO) and the Federation of Engineering Institutions of Asia and the Pacific (FEIAP) in promoting goodwill and fellowship among all engineers in ASEAN and the Asia-Pacific region.

Through its Engineering Accreditation Board (EAB), IES obtained full signatory status in the Washington Accord (WA) in June 2006. The entry grants IES the authority to represent Singapore, the first country within the ASEAN region which has obtained full signatory status in the WA, to vet education systems under the WA mutual recognition framework. www.ies.org.sg/Home

iii. About IES-Incubator and Accelerator (IES-INCA)
IES-INCA is a strategic initiative by The Institution of Engineers, Singapore (IES) to support engineers in technopreneurship and new technology business ventures. INCA incubates new technology companies that are in the process of scaling up by facilitating access to industry expertise and financing to build comprehensive and sustainable businesses. IES is the national society of engineers in Singapore whose mission is to advance and promote the science, art and profession of engineering for the well-being of mankind. For more info, visit www.ies-inca.com.

iv. About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a world-class accountancy body of trusted professionals, contributing towards an innovative and sustainable economy. There are over 33,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA is the Designated Entity to confer the Chartered Accountant of Singapore
– CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.
For more information, visit www.isca.org.sg.

MEDIA CONTACTS
Desmond Teo
Publications Manager
The Institution of Engineers, Singapore
DID: (65) 6461 1229
Email: desmond@iesnet.org.sg

Neo Jia Ning
Senior Associate
The Right Spin Public Relations
DID: (65) 9739 7722 
Email: jianing@therightspin.com.sg

Betsy Tan 
Communications Lead
Institute of Singapore Chartered Accountants
HP: 9641 6920
Email: betsy.tan@isca.org.sg

Amanda Lim
Assistant Manager, Communications
Institute of Singapore Chartered Accountants
HP: 9738 7299
Email: amanda.lim@isca.org.sg