Khmer Enterprise, a unit under the Ministry of Economy and Finance, is rolling out an Investment Readiness program to enhance startups and SMEs’ competitiveness to raise external financing through the building of skills, knowledge and capabilities and forming a network of investors and bankers.
This program is solely funded by Khmer Enterprise and implemented by OBOR Management. The program looks to recruit the top SMEs in Cambodia that are close to reaching investment readiness and looking to understand and engage with new financial partners to upscale their business to the next level.
H.E. Dr. Chhieng Vanmunin, CEO of Khmer Enterprise, stated, “It is important to enhance the access to finance for startups and SMEs to scale up their business operations. This remains one of the major obstacles for startups and SMEs in Cambodia. After completing this program, it is hoped that startups and SMEs can raise new capital”.
On top of training and 1-on-1 support, there will also be a prize money pool of $15,000 awarded to the top SMEs alongside any new capital raised. The prize money is made possible by the sponsorship from ABA Bank, AMK MFI, Wing Bank and SME Bank of Cambodia.
OBOR’s background as investors, entrepreneurs, and operators will help deliver effective, practical training that allows these SMEs to raise both debt and equity. OBOR has invested in and grown side-by-side with many of Cambodia’s leading SMEs across critical sectors such as waste management, water utility, e-commerce, and e-ticketing, pioneering a hands-on approach to the market. OBOR has venture built 3 of Cambodia’s leading companies; GAEA (no .1 waste collection firm in Cambodia), KWSH (leading rural water utility provider) and Camboticket (major travel aggregator platform).
Christophe Forsinetti, CEO & Chairman, OBOR, stated, “we are extremely pleased to work with Khmer Enterprise on this program as it is a significant step in the strengthening of the startup and SME support ecosystem, which OBOR has focused on for several years. We look forward to supporting young Cambodian companies to become the leaders of their space in the next ten years.”
The program looks to recruit the top SMEs in Cambodia that are close to reaching investment readiness and looking to understand and engage with new financial partners to upscale their business to the next level.
SMEs should apply for three simple reasons: this is Cambodia’s first SME program led by an experienced local investor; there will be a prize money pool of $15,000 awarded to the top SMEs; and SMEs will receive intensive 1-on-1 training with market-leading SME business advisors and operators.
Ideal SME applicants should have reached over $100k in historical revenue and be able to commit to attending half-day workshops conducted in the English language on Saturdays at Khmer Enterprise Head Office, with the core program taking place from February to May 2022.
Recruitment for the program will be on a rolling basis through to January 2022. Phase 1 will run from February to March 2022, with a cohort of 25 SMEs going through workshop training. At the end of this group training, OBOR alongside the program partners will select top SMEs among the 25 SMEs to proceed to the final phase. This final phase will run from April to May 2022, an intensive program where SMEs will have 1-on-1 support from market-leading SME business advisors and operators.
To find out more and apply, see this link: https://forms.gle/tT1vVasVtaSHeS9b9