Catalyzing Impact: Insights from CAMESCO24 on Strengthening Cambodia’s Entrepreneurial Ecosystem

Entrepreneurial ecosystems
04.12.2024
Phnom Penh, 25 November 2024 – The Cambodia Entrepreneurial Ecosystem Strengthening Conference 2024 (CAMESCO24) convened nearly 200 participants from close to 100 institutions and organizations, reinforcing the importance of collaboration in driving entrepreneurial growth and systemic transformation.

With the theme "Power of Collaboration for Impact," CAMESCO24 was co-financed by Khmer Enterprise (KE), the Swiss Agency for Development and Cooperation (SDC), and the Korea International Cooperation Agency (KOICA). The initiative was co-implemented by Khmer Enterprise and Swisscontact Cambodia.

CAMESCO24 served as a platform to reflect on the year’s efforts to bolster Cambodia’s entrepreneurial ecosystem, including initiatives like Give A Day, Ecosystem Builder Network (EBN) meetings, and other ecosystem-strengthening activities. These endeavors showcased a collective commitment to fostering innovation and mobilizing capital for social and environmental impact.

The conference featured two thematic tracks: “Harnessing Collaborative Power to Build the Impact Economy” and “Harnessing Collaborative Power to Foster the Entrepreneurial Ecosystem.” Discussions led to the official launch of the Cambodia National Advisory Board for Impact (Cambodia-NAB), a strategic initiative designed to guide regional investors in identifying and seizing impact investment opportunities in Cambodia.

The Impact Investing Track introduced the GSG Impact Cambodia National Partner, a strategic partner under the Global Steering Group (GSG) for Impact Investment. This track highlighted the organization’s initiatives aimed at building coalitions with other GSG National Partners to catalyze investments and entrepreneurship benefiting people and the planet. Meanwhile, the Entrepreneurial Ecosystem Track brought stakeholders together to explore ways to drive systemic transformation, fostering innovation and strengthening Cambodia’s entrepreneurial landscape.

The event featured 17 prominent speakers from Cambodia and beyond, representing organizations such as the Japan Fundraising Association, Mekong Strategic Capital, Instellar, Malaysia Impact Alliance, Aquarii BD Cambodia, Sasakawa Peace Foundation (SPF), Aspen Network of Development Entrepreneurs (ANDE), Swiss Entrepreneurship Program, and Sevea Consulting. These experts shared global and regional insights, exploring best practices in impact investing, ecosystem strengthening, and innovative approaches for scaling entrepreneurial impact.

Notable sessions included an introduction to GSG Impact National Partners (NPs) and Cambodia-NP’s strategic plans, featuring speakers like Masataka Uo, CEO of Japan Fundraising Association and Vice Chair of GSG Impact Japan National Partner, who highlighted successful achievements in mobilizing capital for impact investing in Japan, and Somphyvatanak Kong from Khmer Enterprise shared Cambodia National Partner strategy, which aims to catalyze and promote a dynamic ecosystem for impact investing in Cambodia.

Panel discussions emphasized leveraging networks for collaboration to enhance the impact investing ecosystem by unlocking investment opportunities and measuring effectiveness to catalyze a sustainable impact ecosystem, with contributions from Mark Selby of Mekong Strategic Capital, Romy Cahyadi of Instellar and Indonesia Impact Alliance, and Melissa Foo of Malaysia Impact Alliance.

Another highlight was the exploration of systemic transformation through collaboration, moderated by Michael Tan, CEO of Aquarii BD Cambodia, with panelists such as Ayaka Matsuno of SPF, Sucharita Kamath of ANDE, and Quynh Anh Nguyen of Swiss EP in Vietnam. The panel session highlighted the dynamics of collaboration versus competition and discussed how to foster effective collaboration to enable systemic transformation, aligning with the demand-driven needs of entrepreneurs for lasting impact. Sessions also addressed global trends in entrepreneurship support, with presentations by Tom Sebastian of Seedstars on AI-driven scaling strategies and Sabine Joukes of USAID Morodok Baitang on leveraging ESG principles for sustainable growth.

CAMESCO24 concluded with an overview of Cambodia’s entrepreneurial ecosystem’s progress, including key results from the Social Network Analysis conducted by Swisscontact Cambodia, Khmer Enterprise and Sevea consulting, followed by insights from the Entrepreneurship Ecosystem Specialist at Khmer Enterprise. These findings underscored evolving challenges and opportunities, paving the way for more targeted interventions in the future.

By bringing together key players from across the entrepreneurial and impact investing ecosystems, CAMESCO24 reaffirmed the power of collaboration in achieving large-scale impact. This conference highlighted the critical role of multi-stakeholder partnerships in driving sustainable growth and establishing Cambodia as a hub for entrepreneurial innovation and impact.

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.