NYSSCPA members have formed a new statewide committee aimed at examining issues pertaining to small technology start-ups and other early-stage venture-backed industries. 

The group, the Emerging Tech Entrepreneurial Committee (ETEC), was launched in August and was an offshoot of the Small Business Outreach Committee’s Silicon Alley Task Force. Members had formed the task force to help CPAs better respond to how technology was changing New York’s business landscape, but, as time went on, they decided that an entirely new committee was needed to give the issue the attention it deserved.  

ETEC Chair Phillip P. Laycock said that the committee is looking to bring together CPAs from firms of all sizes to collaborate and share ideas that can benefit those involved in or servicing this industry segment. The current membership is composed of CPAs who have diverse areas of interest but are involved with or interested in new media and technology start-up companies. 

“The committee’s primary goal and initial focus is to assemble and share information in such a way that it is easily assimilated by these early-stage enterprises,” Laycock said. “In short, we hope to cut through the clutter and provide entrepreneurs and CPAs general and concise information which stimulates thought that ultimately leads to successful decision making.” 

To that end, the new committee plans to develop an official NYSSCPA toolkit to provide critical practical knowledge to entrepreneurs and investors in the industry—all from the perspective of a CPA. 

Once completed, the toolkit will be disseminated in various forms to the public and will be used to highlight the fact that CPAs can serve a critical added-value role to those in the emerging tech area. Laycock explained that the committee will work with venture capital and angel investors to understand what they are looking for in CPA services.

“ETEC has been drawing from its members’ knowledge and interviewing those in the community, from entrepreneurs to intellectual property experts, to those involved with capital formation and others in developing the toolkit,” Laycock said.

The committee also plans to craft a CPA handbook that compiles relevant and up-to-date accounting and tax considerations that are germane to the industry, which will be promoted to industry professionals through various means, including seminars, podcasts and networking events.

NYSSCPA members who are passionate about serving technology and new media entrepreneurial ventures are strongly encouraged to join the committee, Laycock said. Besides having an opportunity to share experiences and discuss hot topics in serving emerging technology and new media clients, committee members will also be exposed to technology start-up industry entrepreneurs and investors through speaking events, published pieces and informal networking events. 

“Technology and new media have, for some time now, been very exciting environments,” Laycock added.  “We want to ensure that we are evolving as a value-added resource to this sector.”

Members interested in joining can view the ETEC’s Web page at nysscpa.org for more information or contact Nellie Gomez, the NYSSCPA’s Manager of Committees.  

klazarus@nysscpa.org.