In an effort to promote the growth of startups and encourage entrepreneurship beyond national borders, Khmer Enterprise (KE) and 500 Global, a Silicon Valley-based venture capital firm, jointly organized the prestigious Angkor 500 International Showcase.

The event, which took place on September 27, served as a dynamic forum for emerging startups to present their innovative ideas and international growth strategies at Hyatt Regency Phnom Penh.

Chhieng Vanmunin, CEO of KE, emphasized the significance of the Angkor 500 International Showcase in highlighting Cambodia’s emerging startups.

He stated that the event played a pivotal role in providing exposure and opportunities for startups to secure funding and technical assistance, ultimately contributing to the growth of the Cambodian startup ecosystem.

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“Locals and investors from abroad now have opportunities to see different startups as new and innovative companies emerge in the Cambodian startup ecosystem. Startups may be able to obtain the funding and technical assistance they need by immersing themselves in the Angkor 500 International Showcase. The event plays a pivotal role highlighting startups in Cambodia.’’

Vanmunin added that the event is part of KE’s mission to build the startup ecosystem, from ideas to prototyping, as well as offering some funding. This continues all the way up to looking for a mental and visual network for entrepreneurs, as well as investors to invest in their business.

He encouraged testing business abilities and highlighted the opportunity for entrepreneurs to present their businesses, promising support to ensure they receive the recognition they deserve.

“The test is not just a moment of pitching your test, it is the whole journey of this year, next year and years that follow,” he noted.

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The Angkor 500 International Showcase brought together investors, industry pioneers, and entrepreneurs to foster a thriving startup ecosystem and delve into forward-thinking solutions that will shape the future of entrepreneurship. The event aimed to achieve four key objectives set by KE through Angkor 500.

The showcase aimed to nurture young and talented entrepreneurs, guiding them from the ideation stage to the growth stage. By providing a platform for startups to present their ideas, the event aimed to accelerate their growth potential.

Leveraging 500 Global's expertise and global networks of investors and mentors, the event also supported startups to scale internationally. By connecting startups with valuable resources, the showcase aimed to propel their growth on a global scale.

One of the primary goals of the showcase was to create more opportunities for startups to connect with international venture capitalists (VCs) and gain access to capital. This access to funding would enable startups to further expand their operations and bring their innovative ideas to life.

To foster a vibrant startup ecosystem, the event aimed to promote knowledge transfer through mentoring and other community activities. By facilitating connections between startup founders and industry experts, the showcase sought to create an environment conducive to growth and collaboration.

Ee Ling Lim, executive director of market launch at 500 Global, highlighted that 500 Global is a venture capital fund that since 2010 has invested in 2,800 companies in more than 81 counties, with back companies such as Grad Canva, intercom and Tulio.

“We believe that it is really this global experience that makes us a little bit different because when we come to a market itself, we’re able to then fuse that global know-how, expertise and experience, and adapt to what the local market needs.”

The event consisted of three main components. The first session featured a panel discussion on the ‘Funding Landscape for Startups’. Local and international experts in venture capital, as well as successful startup founders, shared their insights on current investment trends, pitching tips, investor expectations, and common mistakes made by startups when seeking funding.

The second part of the event showcased 10 promising startups from various nations, providing them with an opportunity to pitch their products and services. This startup showcase aimed to highlight the innovation and potential within the Cambodian startup ecosystem.

The event concluded with a networking session, allowing startups and investors to connect with other founders and industry experts. This networking opportunity served as a platform for collaboration, knowledge sharing and potential partnerships.

She said, “500 Global bringing a program to Cambodia is not only for company benefit, but it fits together with mentors, entrepreneurs who’ve been there, who are currently still zero entrepreneurs themselves or investors.

“We have started seeing success stories and with the promising demographics here similar to a lot of bustling start-ups, with no doubt that the Cambodian startup ecosystem is going to continue to grow and Cambodian startups really are able to expand and scale regionally or globally,” Ling Lim said.

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