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Cambodian ESOs Strengthen Regional Ties Through Study Tour in Malaysia

Cambodia
Entrepreneurial ecosystems
25.09.2024
From September 2nd to 6th, 2024, 15 Entrepreneur Support Organizations (ESOs) from Cambodia participated in an insightful study tour to Malaysia. Organized under the Enhancing Entrepreneurial Ecosystem and Investments (3Ei) initiative, the tour provided a unique opportunity for Cambodian ESOs to immerse themselves in Malaysia’s dynamic entrepreneurial ecosystem, fostering regional collaboration and innovation. 

The 5-day study tour was a significant step in empowering Cambodian ESOs with the knowledge and networks needed to drive business performance and mobilize investments in their local context. During the tour, participants engaged with various stakeholders in Malaysia, including government agencies, leading ESOs, startups, and investors. The tour provided deep insights into the key components and dynamics that have contributed to the success of Malaysia’s entrepreneurial ecosystem. Participants explored best practices, particularly in the development of sustainable accelerator models, and gained exposure to the strategies employed by successful Malaysian startups. 

"During the study tour, we had the opportunity to meet key stakeholders who demonstrated a highly collaborative approach. What stood out to me was Seed Lab's method of ensuring startups remain fully committed to developing their businesses by providing a monthly allowance. This support allows founders to stay focused on growth, which addresses a challenge we also see in Cambodia. It's an approach worth considering for us."
Said Panharith In, Business Development Coordinator, Cambodia Academy of Digital Technology (CADT).

One of the key outcomes of the tour was the establishment of valuable connections and networks with a diverse group of regional players—entrepreneurs, investors, government officials, academics, and peer ESOs. The ESO’s visited and learned from Malaysian Research Accelerator for Tech & Innovation (MRANTI), Malaysia Digital Economy Corporation (MDEC), Institut Keusahawanan Negara (INSKEN), Petronas Seed Lab (Social Enterprise Education Lab), Cradle Fund, Biji-Biji Initiatives & MeReka Makerspace, Ernst & Young (EY) Wavespace, ASBhive - Asia School of Business (ASB), eiHub - Monash University Malaysia etc. These interactions are expected to lead to partnerships and collaborative opportunities that can be leveraged to address the unique challenges of Cambodia’s entrepreneurial landscape. 

"What we observed is that everyone has a role to play in building a vibrant ecosystem. It's essential to involve more private sector players so we can work together effectively. During the trip, we engaged with various stakeholders, and one common theme was the strong collaboration and connection among ecosystem players. My key takeaway is the importance of complementing each other’s work."
Said SreyOeun Chem, Head of Corporate Affairs, Smart Axiata.

A post-tour survey revealed that participants were impressed by how key players in Malaysia's entrepreneurial ecosystem collaborate. Rather than duplicating efforts, they focus on unique areas, even aligning with government officials. The key takeaway was the well-connected collaboration among government, academia, civil society, and private companies. This prompted participants to reflect on Cambodia's ecosystem, particularly the role universities play in supporting student startups and how R&D can be better transitioned into commercial ventures. All participants saw potential for collaboration with both local and Malaysian ESOs and were satisfied with the study tour and its outcomes, which met their expectations. 

Following the study tour, from September 25th to 27th, 2024, participants will attend a bootcamp designed to translate the knowledge and inspiration gained in Malaysia into actionable strategies. This bootcamp aims to provide a space for ESOs to reflect on their experiences and collaborate on developing innovative solutions tailored to the challenges faced by Cambodia’s entrepreneurial ecosystem. The bootcamp will be instrumental in co-creating strategies that aim to drive sustainable growth and improve the effectiveness of Cambodia’s entrepreneurial support networks. 

The study tour has been a pivotal experience for Cambodian ESOs. By equipping them with regional insights and fostering cross-border collaboration, the 3Ei initiative aims to strengthen the foundation for a more vibrant and resilient entrepreneurial ecosystem in Cambodia. The connections and strategies developed through this program are expected to have a lasting impact on the growth and sustainability of Cambodia's entrepreneurial landscape. 

The 3Ei initiative is co-implemented by Khmer Enterprise (KE) and Swisscontact Cambodia, and funded by Khmer Enterprise (KE), the Swiss Agency for Development and Cooperation (SDC), and the Korea International Cooperation Agency (KOICA). 

2023 - 2027
Cambodia
Entrepreneurial ecosystems
Enhancing Entrepreneurial Ecosystem and Investments (3Ei)
The overall goal of the 3Ei is for the private sector to actively contribute to Cambodia's socio-economic development and attain the goals of the SDGs. The achievement of this overall goal will be driven by two outcomes. Outcome 1: Enhanced coordination, and collaboration within the entrepreneurial ecosystem; and Outcome 2: Increased business performance and investments in the ecosystem and impact enterprises.
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