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Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance, provides support to startups and SMEs to build a vibrant entrepreneurial ecosystem in Cambodia. In particular, supporting business access to finance is one of the prioritized pillars in KE’s support programs. Therefore, Khmer Enterprise rolls out the Investment Readiness Program to enhance startups and SMEs’ capability to raise external financing through the building of skills, knowledge and capabilities and forming a network of investors and bankers.
On 31 January 2023, Khmer Enterprise completed its 1st cohort in which 25 SMEs spent 6 weeks in workshops and 1-on-1 mentoring from industry experts. In addition, the top 5 SMEs received prize from a pool of USD15,000 sponsored by financial institutions such as ABA, AMK, Wing Bank and SME Bank.
This program is initiated and funded by Khmer Enterprise. Thanks to the accomplishment of the first cohort in 2022 under the coordination from OBOR Capital as our implementer, Khmer Enterprise is pleased to announce SME Investment Readiness for the second cohort to focus on identifying and upscaling mature SMEs in the country to enable them to raise capital more effectively.
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. Khmer Enterprise also would like to thank our partners from the banking institutions which demonstrates the endeavour of different stakeholders to enhance access to finance for startups and SMEs in the entrepreneurial ecosystem.”
Mr Vannarath Vicheth, Investment Director at OBOR Capital, noted, “Running the program for the second cohort demonstrates our commitment in supporting Khmer Enterprise not only to build a solid foundation for the entrepreneurial ecosystem in Cambodia but also to overcome some of the major challenges faced by the SMEs in getting financing from sophisticated investors to scale and grow. We aim to be the reference in this space and look forward to other collaborative projects with Khmer Enterprise in years to come.”
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.
In 2023 Khmer Enterprise will open to accept applications during the entire month of February 2023, where 30 SMEs will be selected to go through workshop training on fund-raising oriented around improving their business model, financial management, creating financial forecasts, and understanding investor requirements. Interested startups and SMEs can apply via the link: https://docs.google.com/forms/d/e/1FAIpQLSfvwqBNbCDiNGmDfkfDSz7cCS22uePsuKG9nrdH-lxj4oy_CQ/viewform