8th EBN Meeting Highlights Key Findings & Recommendations For Private Sector Engagement To Progress Cambodia’s Entrepreneurial Ecosystem
Cambodia Investment Review
The latest Ecosystem Builder Network (EBN) meeting brought together a diverse group of stakeholders to examine the current state and future direction of Cambodia’s entrepreneurial landscape. Attendees from government agencies, development partners, and entrepreneurial support organizations collaborated to address key challenges and explore opportunities for strengthening the ecosystem.
The focus of the discussions was on the Entrepreneurial Ecosystem Roadmap, a strategic framework designed to identify gaps, align efforts, and drive sustainable growth. This meeting was pivotal in highlighting the pressing needs of the ecosystem and charting a course for impactful private sector engagement.
Key Findings and Insights
The meeting began with a recap of the previous “Give a Day” sessions in 2024, which provided collective feedback on market gaps and opportunities. The progress of the Entrepreneurial Ecosystem Roadmap was then presented, highlighting the findings from stakeholder interviews and surveys. The primary goal of the roadmap is to serve as a foundational framework for ecosystem stakeholders, helping to identify gaps and opportunities in the development of an entrepreneurial ecosystem in Cambodia.
Read More: Give a Day 23: Cambodia’s Entrepreneurial Ecosystem Roadmap Consultation Workshop
One of the critical findings discussed was the need for a comprehensive implementation framework for presented recommendations. Participants emphasized the importance of identifying current organizations working towards these recommendations and mapping future programs to ensure effective alignment and action. Hengborey Run, Senior Monitoring & Results Measurement Officer at 3Ei, led the meeting presentation outlining, “Our goal is to create a comprehensive framework that not only identifies gaps in the current ecosystem but also outlines actionable steps for stakeholders to take in addressing these gaps.”
Presentation Insights and Recommendations
The presentation focused on several key areas for improving Cambodia’s entrepreneurial ecosystem based on surveys and discussions by key stakeholders in the sector:
- Implementation of Recommendations: Clarification on the organizations responsible for implementing the recommendations was sought. The post-presentation group work aimed to prepare a framework identifying current organizations working towards these recommendations and mapping future programs to align with them. This approach helps determine involved organizations and identify any missing actions.
- Regulatory Framework Inputs: Stakeholders highlighted the importance of linking recommendations to regulatory policies, particularly Environmental, Social, and Governance (ESG) policies. Emphasizing how ESG can be integrated into businesses to enhance sustainability was deemed crucial.
- Gender Focus: Findings have underscored the need to address gender-specific challenges for entrepreneurs. It mentioned the Swisscontact and Sasakawa Peace Foundation Gender Lens Investment Landscaping Study and recommended integrating its findings into the roadmap. Participants also suggested analyzing all six domains of the Isenberg model with a gender perspective.
- Entrepreneurial Skills Assessment: Feedback indicated that the ecosystem lacked specific information on entrepreneurial skills. This gap will be addressed through a Social Network Analysis (SNA) study by Khmer Enterprise and Swisscontact under 3Ei, aiming to be completed by October. The SNA will identify skills demanded by entrepreneurs and compare them to the skills development offered, performing a critical match and mismatch analysis. It will also consider gender differences in skill needs and access to Entrepreneurial Support Organizations (ESOs).
- Government Support Programs: Stakeholders have also emphasized the need to analyze the effectiveness of government support programs for the private sector. Strengthening the capacity of local governments to be more business-oriented and focusing on green economy policies and sustainable production and consumption policies were identified as key areas.
Private Sector Involvement
The role of the private sector in implementing the roadmap’s recommendations was a significant topic of discussion. Participants agreed that the private sector could play a vital role in providing financial support, mentoring, and other resources to startups and SMEs. The need for better coordination and open communication between stakeholders was emphasized to address challenges and weaknesses, including building trust in ESOs to develop and deliver services to entrepreneurs.
“Private sector involvement is crucial for the success of our entrepreneurial ecosystem,” said Hengborey Run. “We need to foster collaboration and create an environment where businesses can thrive with the support of both public and private entities.”
Importance of the Roadmap and Its Journey
The Entrepreneurial Ecosystem Roadmap is seen as a critical tool for guiding the development of Cambodia’s entrepreneurial landscape. The roadmap outlines key objectives, including mapping existing actors and their programs, identifying gaps and opportunities, and developing actionable recommendations based on a comprehensive gap analysis. It aims to foster a collaborative approach among stakeholders, ensuring that efforts are aligned and that the ecosystem can support entrepreneurs at every stage of their journey.
Hengborey Run highlighted, “The roadmap is essential for creating a cohesive and supportive environment for entrepreneurs. It helps us identify where we are, where we need to go, and how we can get there together.”
The roadmap’s journey involves continuous validation and refinement based on feedback from ecosystem actors. The process includes primary research, data collection, and analysis, followed by the development of recommendations and their validation through stakeholder consultations. This iterative approach ensures that the roadmap remains relevant and responsive to the evolving needs of the entrepreneurial ecosystem.
Future Steps and Roadmap Implementation
The meeting concluded with a wrap-up session and a survey to gather further feedback from participants. The insights and recommendations from the 8th EBN meeting will be integrated into the Entrepreneurial Ecosystem Roadmap, which aims to guide the collective efforts of stakeholders in strengthening Cambodia’s entrepreneurial ecosystem.
Moving forward, the focus will be on implementing the recommendations and ensuring that all stakeholders are aligned and working towards common goals. The roadmap will continue to evolve based on ongoing feedback and developments within the ecosystem.
“We are committed to building a vibrant entrepreneurial ecosystem in Cambodia,” said Hengborey Run. “By working together and leveraging the strengths of all stakeholders, we can create an environment that supports and nurtures entrepreneurs at every stage of their journey.”
The next steps include finalizing the Social Network Analysis study, integrating the findings into the roadmap, and continuing to engage with stakeholders to ensure the successful implementation of the recommendations. The 8th EBN meeting has set the stage for a collaborative effort to drive positive change in Cambodia’s entrepreneurial landscape.
Ecosystem Builder Network (EBN) is an initiative, in collaboration with Khmer Enterprise and Swisscontact, under the Collaboration pillar of the Enhancing Entrepreneurial Ecosystem and Investments (3Ei) funded by Khmer Enterprise (KE), Swiss Agency for Development and Cooperation (SDC) and Korean International Cooperation Agency (KOICA).
