EU and Khmer Enterprise fund partnership for clean energy innovation in the agri-fishery sector
Khmer Enterprise, a unit under the Ministry of Economy and Finance (MEF) and EnergyLab, Cambodia’s only energy start-up incubator, inked a partnership agreement to support clean energy start-ups in the agriculture, fishery, and aquaculture sectors in Cambodia with funds from the European Union.
The partnership aims to support clean energy entrepreneurs in developing competitive products that are adapted to the energy needs of agri-fishery enterprises in the Tonle Sap region. EnergyLab will select 5-10 clean energy start-ups each year to participate in its highly successful 1-year incubation program to guide the start-ups with intensive trainings, mentoring, and one-to-one coaching. Khmer Enterprise will provide funds for a ‘seed investment grant’ to the selected start-ups for prototyping new products, sales, marketing, and growth strategy.
Dr. Vanmunin Chhieng, Chief Executive Officer of Khmer Enterprise (KE), said that with the support of the Ministry of Economy and Finance, Khmer Enterprise has the vision to become the national platform for promoting entrepreneurial activities. He said that this partnership aligns perfectly with their mandate to support the entrepreneurship ecosystem and one of the prioritised sectors in Khmer Enterprise’s mandate, which is agro-industry. “Khmer Enterprise wants to create, invest, and support successful business in this sector. Through this program, these start-ups can get the support they need to take the business concept to reality and be set for growth and investment. Khmer Enterprise wants to be there to help mobilise other investors for long-term success.” said Dr. Vanmunin.
This partnership is part of the EU-funded programme “Switch to Solar”, which is implemented by People in Need along with EnergyLab and a specialised consulting company Sevea.
“Our support will allow Cambodian entrepreneurs to develop new green technologies and business solutions for the agricultural, aquaculture, and fishery industries. Innovations using clean energy in the value chain can help rural companies expand their business, strengthen competitiveness and pave the way for a green recovery after COVID 19” said EU Ambassador to Cambodia, Ms. Carmen Moreno.
The Clean Energy Agri-fishery Incubation program supports the first 7 entrepreneurs developing business to maximize aquaculture and agriculture production and promote post-harvest activities, such as solar cold storage or solar drying. One selected start-up is working on solar aerator to increase the productivity of fish farms. “I believe that this technology can transform practices of current aquaculture in Cambodia. It will help farmers increase their yield and generate more revenues”, said Sum Vy, of Agricultural Technique Enterprise.
“Our collaboration with Khmer Enterprise allows us to enhance our incubation program and accelerate the start-ups progress towards success”, Antoine Denizart, EnergyLab’s SWITCH to Solar Project Director said. “The opportunities to create value with clean energy solutions for agriculture or aquaculture sectors are vast, but these projects are complex, and the availability of good business solutions is limited in Cambodia. We are pleased to be collaborating with Khmer Enterprise because their support will help entrepreneurs to seize these market opportunities while de-risking their innovation process.”
The second round of the Clean Energy and Agri-Fishery Incubation Program will start accepting applicants in August 2021.
About the EU SWITCH to Solar programme
The programme “Switch to solar” is funded by the EU to promote green economic growth and job creation by supporting micro, small and medium sized enterprises in developing solar and other clean energy solutions in agriculture and fishery value chains in the Tonle Sap region. The programme is implemented by the NGO “People in Need” along with EnergyLab and a specialised consulting company Sevea. It is co-funded by the EU and the Czech Development Agency, and runs until 2024.
https://www.switch-asia.eu/project/switch-to-solar/
About Khmer Enterprise
Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance, is envisioned to become the national platform for promoting entrepreneurial activities through leveraging public-private-partnership. The key prioritized sectors, including agriculture, manufacturing, services and ICT, are catalysed to support economic diversification, innovation, increasing productivity and job creation.
With a mission to build a vibrant ecosystem, KE focuses on four main programs:
- Capacity upgrading for startup and SMEs through joint business incubation and skill upgrading programs, mentorship, product development, digital solution and legalization assistances;
- Entrepreneurial cultural promotion such as in-house activities, community events, pitchings, outreach programs and co-working space;
- Seed funding and investment for the early stage start-ups and scalable SMEs, and provide exit strategy support; and
- Networking platform with and between local and international ecosystem builders, VCs, and investors.
More details are available at https://khmerenterprise.info
About EnergyLab
EnergyLab is a dynamic organisation supporting the growth of the clean energy market in Cambodia, focusing on supporting an enabling environment, innovation, and entrepreneurship in clean energy. As part of the EU Switch to Solar project, EnergyLab has established the Clean Energy AgriFishery Incubation program to support ideation, validation, and establishment of new business models through Hackathon, Pre-Incubation, and Incubation Programs. More details are available at https://energylab.asia/ceagfishinc
Contacts
EnergyLab – Mr. Antoine Denizart, Switch Project Director, +855 96 802 9810 antoine@energylab.asia
Khmer Enterprise – Mr. Kong Somphyvatanak, Market & Investment Lead, +855 99 916 151,
somphyvatanak.kong@khmerenterprise.info
EU Switch to Solar Programme – Mr. Laube Lukáš, People In Need (PIN) country director, +855 95431671, lukas.laube@peopleinneed.cz