Cambodia Investment Review
The third season of the Unipreneur Program was launched on November 24, 2024, at the Diamond Island Convention and Exhibition Center in Phnom Penh, drawing over 300 university students from more than 35 institutions across Cambodia. The event aimed to provide aspiring entrepreneurs with essential insights into building successful startups, offering both opportunities and real-world advice for navigating the startup landscape in Cambodia.
Opening remarks were made by H.E. Dr. Chhieng Vanmunin, CEO of Khmer Enterprise, who reaffirmed the government’s commitment to supporting young entrepreneurs. Mr. Pork Pagnapich, Senior Entrepreneurship and Innovation Specialist at Khmer Enterprise, highlighted the mission of the program to nurture Cambodia’s growing entrepreneurial ecosystem. The Unipreneur Program, which engages 2,000 students across 50 universities and aims to create 250 early-stage startups, emphasizes the need for regulatory frameworks that support and encourage the growth of new businesses.
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Insights on Overcoming Startup Challenges
One of the event’s key segments was a panel discussion titled “Roadmap to Building a Successful Startup,” moderated by Harrison White, Founder and Editor of Cambodia Investment Review. The panel featured industry leaders including: Mrs. Daneth Raksmey, CEO of Tenbox; Ms. Chem SreyOeun, Head of Corporate Affairs at Smart Axiata; and Mr. Riz Aslam, CEO of Satori Giants. Each panelist shared their unique perspectives on the challenges and opportunities that Cambodian startups face.
Harrison White stressed the importance of understanding both the opportunities and the obstacles that exist within the Cambodian startup ecosystem. “As we gather here today, it’s essential to remember that while Cambodia offers immense potential for startups, the landscape is also fraught with challenges. To succeed, young entrepreneurs need to understand both the hurdles and the tools available to them,” White remarked.
“This is why it’s so crucial for the government to focus on getting the regulatory settings right—making the process of both starting and closing a business simpler and more efficient. The legal and regulatory framework must provide a clear, accessible path for entrepreneurs, ensuring they can innovate, grow, and ultimately thrive,” he added.
Ms. Chem SreyOeun encouraged students to think globally, stating, “I urge all startups to dream big. Start in Cambodia, but aim for the world. It’s crucial to invest in thorough research, rigorous product testing, and strategic market exposure to achieve global success.” Riz Aslam added that: “Solve a need, sell the solution – that’s how you start up.”
The panel discussion addressed key issues that student entrepreneurs often encounter, including the early stages of ideation, validating business ideas, securing funding, and collaborating with larger corporations. The speakers provided actionable advice on how to overcome these challenges, emphasizing the importance of resilience, adaptability, and a solid business strategy.
Empowering the Next Generation of Entrepreneurs
Khmer Enterprise’s continued focus on empowering young Cambodian entrepreneurs is central to the Unipreneur Program. With its goal of fostering collaboration and innovation among students, the program is laying the foundation for a vibrant startup ecosystem in Cambodia.
The program’s impact extends beyond just business creation; it aims to fuel economic growth and social progress across the country, equipping students with the knowledge and resources needed to turn their entrepreneurial ideas into successful businesses. With continued support from Khmer Enterprise and industry leaders, the program is expected to help shape Cambodia’s startup landscape for years to come.
