PHNOM PENH: Teams with various ideas, in a local startup seeds funding event in support of entrepreneurs was held at the OCIC Sales Center in Koh Pich, under the theme “Pitch Perfect.” This event marks OCIC Group’s first startup competition in collaboration with Choice Accelerator, where contestants from across Cambodia come together to pitch innovative and new business solutions to cater to some of Cambodia's modern-day needs, in front of investors.
The Pitch Perfect Investment Opportunity is the culmination of OCIC and Choice Accelerator's joint efforts, to further develop an initiative which started earlier this year, and that empowers local startups to explore the world of entrepreneurship and gain valuable business insights from a judging panel of investors who are entrepreneurs themselves.
All participants presented varying service-oriented products before a panel of judges led by OCIC Vice President and Negocia Capital CEO Thierry Tea together with Choice Accelerator CEO Jennifer Lin and Joonak Enterprise CEO Jay Kong.
The attendance counted more than 100 people including representatives from the Ministry of Post and Telecommunications and the Cambodia Academy of Digital Technology (CADT), angel investors, venture capital firms, private equity firms, investment institutions as well as students in the field of data science and engineering from the Cambodia University of Science and Technology (CamTech). The event yielded valuable ideas, including services such as digital invoice solutions for Cambodian enterprises, support systems for local coffee producers, analytics solutions for HR management and hiring, and entertainment platform apps.
Prominent local businesspeople included Sabay Digital Media and Kirisu founder Chy Sila, along with notable figures from Capital investment firms Amara Capital, Emerging Markets Asia, Satori Giants, and Rising Giants were among the audience.
Koh Pich over the last few years has been a melting pot for startups, with spaces like the Aquation Office Park in the Bay Area and GIA Tower in the high-rise neighborhood of Koh Pich central with a growing community of startups setting up shop including the likes of Pathmazing, Kiripost, Tenbox, Unbox Marketing Agency, Wonderpass, Last2tickets and Foodpanda as well as consulting firms like Confluences among many others.
"Pitch Perfect is an excellent chance for the community to get involved and to grow. As part of OCIC Group's effort to enable the development of startups, we are happy to work with Choice Accelerator to support local entrepreneurs who are laying the groundwork for Cambodia's fast-growing entrepreneurial-driven business sector while also opening up channels for ideas and innovation." Said Thierry Tea, Vice President of OCIC Group and CEO of Negocia Capital at the sidelines of the Pitch Perfect Event.
"We are inspired by this drive to offer even more opportunities that prioritize our local entrepreneurs by paying attention to what they have in mind and considering how we can simultaneously contribute our ideas.
To grow this initiative, Koh Pich for instance is rapidly transforming into a place with more and more startups which have since shown interest in setting up shop in Koh Pich. As a group, one of our core values is being entrepreneurial, so we support events like pitch perfect, which not only fits-in with current trends but also with the vision of our chairman, Neak Okhna Dr. Pung Kheav Se, who is a strong proponent of empowering people through business and education. Moreover, the event emphasizes further on the importance of seed funding and investment for young entrepreneurs as it becomes more and more commonplace in our modern-day society" added Tea.
With the second pitch perfect concluding on a high note, this time hosted in OCIC’s Koh Pich central, the event contributes to a growing environment for local startups as more and more opportunities are becoming available and accessible to each one who aspires to become an entrepreneur. The collaboration between OCIC and Choice Accelerator is one of many more opportunities to come as OCIC aims to putting entrepreneurship at the forefront of its efforts, a reflection of its core values.
This year’s event was sponsored by Koh Pich, Auskhmer, Three Corner Coffee Roasters, Cambodia Investment Review and Negocia Capital.
