The Entrepreneurial Development Fund (EDF) has a vision for a thriving Cambodian entrepreneurial ecosystem, unfettered by the nation’s borders. Their mission is to grow and expand this landscape by offering support and assistance to the country’s startups and small businesses on an international level.
EDF Secretariat Director, H.E Chea Kokhong, and Chairman of the Innovation and Development Investors Association, Mr. Hor Serey Vath, sat down in Silicon Valley, California with Ms. Christine Tsai, CEO of leading international venture capital firm, 500 Global, on 16 May. Valued at over $300 billion, 500 Global’s accelerator program focuses on “markets where technology, innovation, and capital can unlock long-term value and drive economic growth.”
Their discussions centred around promotion of Cambodia’s entrepreneurial ecosystem, with cooperation, expanding new investment networks and promoting technological investment identified as key strategies for growth. The group also discussed strategies for attracting foriegn investment to Cambodia’s small and medium sized enterprises, with government incentives for venture capital firms and startups seen as promising opportunities.
Investment in sectors aligned with Cambodia’s national digital economic framework was also identified as essential to the recovery and development of the country’s economy.
During the visit, H.E Chea Kokhong and delegates also met with startups from Singapore’s entrepreneurial ecosystem who had been chosen for the Global Launch San Francisco program. Co-organised by 500 Global and government agency Singapore Enterprise, the program provides target startups with training in Silicon Valley and facilitates their expansion into U.S. markets. Conversations focused around business strategies and experience in providing technology services and how these lessons could be applied in the Cambodian context.
Building networks with international venture capital firms and foreign startups is a major step for EDF and demonstrates the group’s forward thinking and big picture vision. This cooperation and collaboration will likely prove key in pushing Cambodia’s entrepreneurial ecosystem onto the world stage.