Cambodia Investment Review

SprintX Accelerator Program Culminates in Demo Day, Announces Top Tech Startup Winners in Cambodia

SprintX Accelerator Program Culminates in Demo Day, Announces Top Tech Startup Winners in Cambodia

SprintX Accelerator Program Culminates in Demo Day, Announces Top Tech Startup Winners in Cambodia

Cambodia Investment Review

The SprintX Accelerator Program, a joint initiative by Khmer Enterprise and Prestige Consulting, concluded its current cycle with an engaging Demo Day on December 11th, marking a significant stride in Cambodia’s tech startup ecosystem. The event, attended by over 100 distinguished members including investors, corporate leaders, and entrepreneurs, was presided over by H.E. Dr. Chhieng Vanmunin, CEO of Khmer Enterprise.

H.E. Dr. Chhieng Vanmunin CEO of Khmer Enterprise.

Initiated in October 2023, the SprintX Accelerator Program embarked on an ambitious journey with 12 tech startups and tech-based SMEs, immersing them in an intensive eight-week curriculum. The program included masterclasses by experienced trainers, mentoring sessions, and one-on-one consultations with Prestige Consulting, covering a range of topics from business strategy and digital marketing to investment readiness and fundraising.

55% Increase In Investment Readiness After SprintX

The program’s impact was noteworthy, with a reported 55% increase in investment readiness understanding among participants, and an impressive 85% finding the masterclasses highly beneficial. Moreover, 90% of the participants expressed high satisfaction with the overall program experience.

Read more: Prestige Consulting Launches SprintX Program to Better Prepare Cambodia’s Tech Startups for Investment Readiness

In the run-up to the Demo Day, a panel of three experienced judges evaluated pitches from the 12 teams, selecting the top seven for the finals. These finalists were granted additional investment deal support from Prestige Consulting until mid-March 2024. During the Demo Day, these seven startups presented their pitches to a panel of independent judges.

The seven pitches included:

  • Academy Of Careers And Technology
  • Bonlai
  • Fund Farm
  • Localize Tech Solution
  • PlasGate
  • Solar Green Energy Cambodia
  • Workingna

The event culminated with the announcement of the winners: Bonlai as the 1st winner, Academy of Careers and Technology as the 2nd, and Solar Green Energy Cambodia (SOGE) as the 3rd. The top three teams were awarded a total grant of KHR 24 million ($5,840) by Khmer Enterprise.

SprintX demo day judging panel.

“SprintX is a pioneering accelerator program in Cambodia, focusing on deal support and helping startups navigate the complexities of raising funds,” said H.E. Dr. Chhieng Vanmunin. He emphasized the program’s role in addressing the challenges startups face in accessing capital.

Mrs. Jolyda Sou, Managing Director of Prestige Consulting, highlighted the collaborative efforts in making the program successful. “The impact of this program is a testament to the strong partnership between the private sector, development organizations, and the government in nurturing Cambodia’s business and investment landscape,” she said.

Ms. Romny Theam, Chief External Affairs Officer and Regional Manager of ABA Bank, the program’s exclusive bank sponsor, praised the program’s emphasis on digital technology and financial inclusion. “These are areas where ABA Bank is deeply invested. We believe the startups from SprintX will significantly contribute to empowering individuals and businesses in Cambodia,” she remarked.

Fostering A Dynamic Entrepreneurial Ecosystem

Khmer Enterprise, an entity established by the Royal Government of Cambodia, focuses on fostering a dynamic entrepreneurial ecosystem through financial and non-financial support. Prestige Consulting, renowned for its expertise in business consulting and program management, played a pivotal role in the SprintX Accelerator Program.

12 teams, selecting the top seven for the finals.

ABA Bank, a leader in digital financial solutions in Cambodia, and Alibaba Cloud, the platinum sponsor of the program, also played instrumental roles in supporting the event. Alibaba Cloud, a subsidiary of Alibaba Group, is a cloud computing giant, contributing significantly to the digital infrastructure of online businesses and Alibaba’s e-commerce ecosystem.

The SprintX Accelerator Program not only marks a milestone in the advancement of Cambodia’s tech startup environment but also sets a precedent for future collaborative efforts in the region, demonstrating the potential for innovation and growth in the Cambodian tech sector.

Related Articles