Startup Cambodia: A Government Program for Young Entrepreneurs

Startups are currently the most prominent global noise in the era we live in. 

People today are brave and keen to make their ideas a reality.

The number of startups across industries is increasing in almost all countries, and young entrepreneurs are working arduously to achieve their dreams fearlessly.

This is about more than just a person’s personal development; it also helps nations grow.

Cambodia is going through the same growth as the rest of the world. Additionally, it is evolving into Asia’s startup hub.

What is Startup Cambodia?

The government of Cambodia has launched a program called Startup Cambodia with the goal of creating wealth and jobs. The development and innovation of new products and services as well as a growth in the employment rate in Cambodia are the two main objectives of Startup Cambodia.

Benefits of the Startup Cambodia Program include job creation, financial assistance and networking opportunities.

The Prime Minister Samdech Techo Hun Sen approved the Startup Cambodia National Program in late 2019 and added it as a policy measure to the Cambodia Digital Economy and Society Policy Framework 2021–2035.

This national program, which is administered by the Ministry of Economy and Finance, aims to encourage domestic start-ups and create a thriving entrepreneurial environment in Cambodia.

Techo Startup Center (TSC) and Khmer Enterprise (KE) are jointly in charge of overseeing Startup Cambodia, which has created a nationwide digital platform for the growth of the entrepreneurial ecosystem in Cambodia.

By utilizing digital technology, this digital platform serves as a center to compile/collect information from all stakeholders and to give information on the vibrant Cambodia startup ecosystem.

It acts as a platform to encourage greater participation from all relevant parties for more active interaction that would result in more partnerships and collaborations among participants in the ecosystem.

Its strategy for creating the Startup Cambodia platform is to “learn by doing and improve simultaneously” in line with the growth of the startup ecosystem.

The Startup Cambodia platform can be split into three phases, as follows:

Phase:1

One-stop Information Hub

  • Ecosystem Directory
  • Supporting Programs for Startups
  • Event Calendar
  • Resource Library
Phase:2

Smart Matching

  • Smart Matching functionality based on data and common interest/activity.
  • To facilitate more interaction between ecosystem actors in a hope to foster more collaboration.
Phase:3

Additional Functionalities

Mobile app, improved UX/UI, and more diverse contents and resources etc.

What is the main objective of startup Cambodia?

The fundamental goal of this effort is to create an environment where the government will support all new startup businesses and, of course, to promote the culture of innovation.

Overall, this program aims to boost the nation’s employment as well as entrepreneurship, economic growth, technological advancement, and innovation.

The Government of Cambodia’s flagship program, Startup Cambodia, aims to encourage the startup culture and create a robust, inclusive environment for innovation and entrepreneurship in the country.

“What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed.”

–Dave Thomas

For more information browse: https://startupcambodia.gov.kh

Source: Startup Cambodia Website and Facebook Page

Leave a Comment

Your email address will not be published.