VC firm and early-stage startup accelerator 500 Startups has formed a partnership with Khmer Enterprise, a unit under the Cambodian Ministry of Economy and Finance. Dubbed Angkor 500, the initiative will support entrepreneurs in establishing tech-driven startups and preparing for regional expansion.
Over the initial two-year partnership, the VC firm will bring together founders throughout the country to form teams and technology companies. It’s looking to help Cambodian startups engage with international markets and investors, as well as connect them to industry stakeholders and corporate partners.
“This is one of the implementation plans of the Royal Government of Cambodia as articulated in Rectangular Strategy Phase IV to accelerate a healthy environment for SMEs and innovative startups to become much more competitive when moving to the digital economy,” said Vongsey Vissoth, who works as the minister attached to the prime minister. Vissoth is also the permanent secretary of state of Cambodia’s Ministry of Economy and Finance and the chairman of the Entrepreneurship Development Fund.