A new acceleration program, SmartScale powered by Seedstars, will launch in May to nurture Cambodian startups and kindle regional interest in the country’s network of startups, local news outlet Khmer Times reports.
Smartscale is being developed in a partnership between investment firm Mekong Strategic Partners, USAID’s Development Innovations Ventures program, the organizers of the startup competition Seedstars World, and Cambodian telecommunications service provider Smart Axiata.
SmartScale is a three-month program that will begin in May. It will provide up to 15 Cambodia-based startups with technical support, intensive training based on the Seedstars program structure, and guidance from industry experts like investment professionals.
Selected startups will also enjoy other benefits, including free workspaces, up to USD 100,000 worth of follow-up investment from the Smart Axiata Digital Innovation Fund and the Seedstars investor network, as well as costs covered for software used for accounting, sales and marketing, and web hosting services.
Tech startups in Cambodia are enjoying more attention as the country directs some of its resources toward developing to a digital economy. The government has implemented top-down initiatives to encourage tech-based entrepreneurship. For public-private partnerships, Smartscale powered by Seedstars is not the only collaboration of its kind in Cambodia; the United Nations Development Program (UNDP) has linked up with 4PX Express to bolster Cambodia’s e-commerce sector.