The Riel Hackathon for Kids 2023, an educational program that aims to equip students with knowledge of financial independence and build foundational skills to solve real-world problems, will get underway on Sunday.

More than 4,000 students have been given the opportunity to participate in the project, with each chosen team allocated 20,000 riel to kickstart their business. The selected teams will pitch their ideas on September 17.

Da Dauchbamnong, a public relations member of Global Shaper Phnom Penh, initiated by World Economic Forum, told Kiripost that Riel Hackathon for Kids is a financial education literacy project implemented by Global Shapers Phnom Penh (GSPP) and Teach for Cambodia (TFC), an organization that is on a mission to expand educational opportunities for students to have ownership over financial management.

The first phase of the project was successfully rolled out by TFC fellows from February to August, where students were taught to reflect on themselves and create a mindset shift to enable them to plan their lives with a deeper perspective.

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Da Dauchbamnong, a public relations member of Global Shaper Phnom Penh

“There are more than 4,000 students from Phnom Penh and Kandal provinces participating in the project, were trained on their life goals and their financial goals, and then continued to think about how they could use their skills to improve their family’s livelihood for 7 months, from February to August ” Dauchbamnong said.

Students were also asked to develop and pitch their business ideas with 20,000 riel to conclude the curriculum. Potentially, 157 students or 27 selected teams will be coached and join the final pitching event. The age range of the students is from 10- to 17-years-old primary and secondary schools. They will be grouped based on their grade.

In the second part of the project, the selected teams will be given a starting capital of 20,000 riel to pilot their business ideas. They will also be given three weeks to test out their idea, coupled with two weekly coaching sessions.

“Finally, they will submit their final pitch deck, and prepare to pitch their business ideas and results on September 17 in Phnom Penh during the Riel Hackathon for Kids’ final pitching event.”

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On behalf of The Global Shapers Community, Bomnong believes that young people are key to solving the world's problems. Changing the way that children think about their financial literacy can affect their lives and empower young people to reach their full potential and make a positive impact on the world.

“We believe in a world in which young people are at the heart of solution-building, policy-making, and lasting change. Our mission is to inspire, empower and connect young leaders to reach their full potential, shape decision-making processes, and drive positive change in their communities and the world,” Bomnong said.

“One of our core areas of focus is financial literacy. We believe that by teaching children about money, we can empower them to make better decisions in their lives and achieve their goals.

Along the way, they will also be empowered to reflect on their self needs, wants, and ambitions, and how they can achieve it.”

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