Cambodia Investment Review

E124: Khin Wathann on Cnai Accelerator Pioneering Gender-Smart Startups in Cambodia & Myanmar

E124: Khin Wathann on Cnai Accelerator Pioneering Gender-Smart Startups in Cambodia & Myanmar

Cambodia Investment Review

In episode 124 of the Rising Giants podcast, hosts Max Thornton and Dominic Kalousek delved into the world of gender-smart innovation and entrepreneurship in Cambodia and Myanmar more broadly. They were joined by Khin Wathann Oo, the Lead Program Coordinator of Cnai Accelerator, a prominent gender-smart accelerator based in Phnom Penh, Cambodia.

Cnai Accelerator, known for its inclusive approach, helps founders grow impactful startups. The program leverages online diagnostics and resources, a global curriculum from Village Capital, and up to three rounds of structured support, coupled with increasing amounts of capital.

Max opened the conversation by asking Khin about her journey. Originally from Myanmar, Khin began her career in the real estate sector before the military overthrow in 2021 forced her to transition to the retail sector. “Working as head of growth in retail taught me about business development,” Khin said. “It was a significant shift, but it was also a valuable learning experience. Meeting Matt from Emerging Markets Entrepreneurs (EME) led me to join Cnai Accelerator.”

A Decline In Total Investors For Myanmar Startups

Reflecting on the startup ecosystem in Myanmar, Khin noted, “Since COVID-19 and the government overthrow, it has been very tough. However, things are starting to improve, with many portfolio companies not just surviving but beginning to grow. We are hopeful for continued government stability.” She mentioned that their portfolio primarily includes tech companies, with investments in 11 companies so far, focusing on e-commerce and other sectors.

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Discussing the funding environment, Khin observed, “There has been a decline in total investors in the Myanmar, but this also presents an opportunity. With less competition, those with a higher risk appetite can get involved.”

When asked about the differences between the startup ecosystems in Myanmar and Cambodia, Khin stated, “Before coming to Cambodia, I didn’t see a huge difference between founders in Myanmar and Cambodia. Both are hardworking and coachable.

However, Myanmar founders display more grit due to the country’s challenging situation. From an investment perspective, there are more investors and opportunities in Cambodia.” She added, “Culturally, Burmese people are more obedient with mentors, while in Cambodia, there is more of a focus on their own ideas, possibly due to the more international environment.”

Max Thornton and Khin Wathann Oo at the Rising Giants Podcast Studio in Phnom Penh.

Regarding the goals of Cnai Accelerator, Khin explained, “Cnai is a gender-smart accelerator that has been operating for two years, funded by major development organizations and partners. Our mission is to nurture and encourage founders to grow impactful, gender-inclusive startups and SMEs in Cambodia. At Cnai, we focus on proving the value proposition rather than just practicing pitches. We coach startups on what truly matters for their business.”

The program offers a global curriculum through Village Capital and provides up to nine months of hands-on support from EME and the Cambodia Investor Club. Participants can access grants of up to USD 30,000 and connect with a vast network of investors.

Dominic inquired about the key foundation pillars for pre-revenue startups. Khin emphasized, “We help startups focus on branding, making them investment-ready. It’s important for them to understand how they can make an impact. We also address the marketing gap, which is common among startups. Additionally, we incorporate gender lens practices, ensuring startups understand this throughout their journey.”

Criteria For Advancing Startups To The Next Stage Of Funding

Max then asked about the criteria for advancing startups to the next stage of funding. Khin explained, “Each stage is based on data from homework and attendance, which helps us assess engagement. We use a scoring card to evaluate the quality of the founder. We believe businesses change over time, so we invest in the founder.”

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In a more personal segment, Dominic asked Khin about her most passionate moments. She shared, “I enjoy new challenges and achieving small wins for the portfolio companies I represent. My family helps recharge me during tough times, and I draw comics to cope with life’s overwhelming moments. These activities help me stay connected with the founders and their journeys.”

Through this insightful conversation, Khin Wathann Oo provided a comprehensive view of the impactful work being done by Cnai Accelerator in fostering gender-smart startups in Cambodia, highlighting the challenges and opportunities in the region’s entrepreneurial landscape.

Listen to the full podcast here.

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