500 Startups, an early stage start-up accelerator, has formed a partnership with Khmer Enterprise, a unit under the Ministry of Economy and Finance of Cambodia. The program, dubbed Angkor 500, will help entrepreneurs to set up tech-driven startups and prepare for regional expansion.
The VC company will put together founders around the country across the original two-year collaboration to shape teams and technology businesses. It aims to help Cambodian startups communicate with and interact with foreign markets and investors with business stakeholders and corporate partners.
“This is one of the implementation plans of the Royal Government of Cambodia as articulated in Rectangular Strategy Phase IV to accelerate a healthy environment for SMEs and innovative startups to become much more competitive when moving to the digital economy,” said Vongsey Vissoth, who works as the minister attached to the prime minister. Vissoth is also the Permanent Secretary of State of the Ministry of Economy and Finance of Cambodia and the President of the Fund for the Growth of Entrepreneurship.
Despite Covid-19, 500 Startups and Khmer Enterprise believe that the present moment offers a critical opportunity to invest in the next generation of startup founders.