Drive to move more entrepreneurship outside capital and into other cities

Impact Hub Phnom Penh is spreading its wings with outside help. Impact Hub Phnom Penh

In order to scale their impact beyond the physical boundaries of Phnom Penh, Impact Hub Phnom Penh with main-funding from Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance, and co-funding from Pact Cambodia, is launching a model of locally rooted provincial communities called Phum Impact.

Phum Impact Communities will be initially piloted in Siem Reap and Battambang and their objective will be to “inspire, connect and enable” youth living in these two provinces. Importantly, these are not directly led and managed by IHPP but rather by local key players – who have a deeper understanding of the challenges facing young entrepreneurs in their communities – as a way of empowering and building the skills of local groups.

Through intensive training, coaching and seed funding from Impact Hub Phnom Penh, these communities will grow their capacity to engage and connect their localised start-up ecosystems, provide business skills training, tailored coaching and community networks to holistically build the entrepreneurial mindsets and capabilities of young entrepreneurs.

“As a unit under the Ministry of Economy and Finance, KE has the vision to become the national platform for promoting entrepreneurial activities in Cambodia. This initiative, Phum  Impact, aims to build the entrepreneurial capacity and connect young entrepreneurs and start-ups into an entrepreneurial community, which is well-aligned to KE’s vision,” said Van Munin Chhieng, Chief Executive officer (CEO) of Khmer Enterprise.

“Siem Reap and Battambang being known as two of the provinces that have seen notable entrepreneurial activities, we are excited to see aspiring entrepreneurs ready to make a change in their community through Phum Impact initiative,” Van Munin added.

Olivia Hough, managing director of Impact Hub Phnom Penh, said: “By taking the Impact Hub methodology to Siem Reap and Battambang, we can help develop new startup ecosystems that can positively benefit local communities in other parts of the country. We hope the Phum Impact community model will inspire a new generation of impact-driven leaders and entrepreneurs, connect and build new startup ecosystems, and proudly put Siem Reap and Battambang on the map as the upcoming cities to live in and start businesses in Cambodia.”

Sabine Joukes, country director/chief of party, Pact Cambodia, added: “WE Act [Women Entrepreneurs Act] supports Impact Hub’s initiative to scale up to other provinces and make their services available to people living in Battambang and Siem Reap provinces. WE Act is proud to support Impact Hub in its outreach to support young women to be change-makers in their own lives and in their communities to bring lasting benefits.”

Impact Hub will now be assessing the ecosystems in Siem Reap and Battambang to understand the challenges and opportunities present there for youth, and is now looking for Founding teams for the Phum Impact initiative, who will commit to the long term growth and sustainability of the communities.

Impact Hub Phnom Penh’s mission is to create a more sustainable and innovative Cambodia by empowering youth and startups to contribute to solving problems (social and environmental) through entrepreneurship and leadership. Khmer Enterprise (KE), an implementation unit under the Ministry of Economy and Finance, is envisioned to become the national platform for promoting entrepreneurial activities through leveraging public-private-partnerships. WE Act is a project that supports young women entrepreneurs to strengthen their skills, business links and participation with relevant associations. It is funded by the US Agency for International Development and implemented by Pact in collaboration with diverse local organisations and companies.

Credited: Khmer Times