The DakDam incubation program is ready to get started.

[ASEAN NOW]

 

A project to help small and medium agribusiness firms develop is being funded by the government-funded Khmer Enterprise, a national platform for supporting entrepreneurial activity, and HEKS Cambodia, which strives to promote sustainable rural development. Impact Hub, a company that enables startup firms and tries to help agri-businesses improve, is leading the project.

 

Season 2 of the DakDam Incubator is a nine-month agriculture incubation program that invests in and supports early-stage entrepreneurs working on creative ideas that could assist Cambodia's agricultural sector. On September 18, the project will begin.

 

Agriculture is critical for Cambodia's economic, social, and environmental development. Agriculture, fishing, and forestry support over 65 percent of Cambodians. The agriculture industry provides food for the country, but there is still room for expansion. Investing in sustainable agriculture, according to the DakDam team, will pave the way for a prosperous country.

 

The epidemic continues to be a major issue, putting the tourism industry on hold. The Kingdom has little choice but to increase its reliance on its remaining active industries, particularly its largest sectors like agriculture, building, and clothing. The DakDam team believes that the Kingdom's focus should shift to agriculture and that this industry should be pushed even farther.

 

The only difference between the first and second seasons is the sheer amount of content. The first season exceeded expectations, with two of the participants having increased their production capacity by tenfold by the end of the program. They expect that with the extra help, the DakDam team will be able to replicate the original program's outcomes. Season 2 will feature 15 teams in the pre-incubation stage, up from 10 teams in Season 1. In addition, compared to the previous six, there are now eight teams in the incubation stage.

 

The DakDam software is split into two sections: a pre-incubation phase and an incubation phase.

 

15 teams will be mentored during the pre-incubation program, with the goal of defining their future objectives and identifying their needs and gaps in their current operations. They'll be paired with a mentor pool, whose members will offer them insights, connections, and advice.

 

“We have received 52 applications, which shows the strong willingness from local SMEs [small and medium companies] to receive this kind of support,” said Lyhour Heang, a program manager for DakDam Incubator Season 2 at Impact Hub Phnom Penh.

 

Eight out of the 15 teams will be nominated for the next step at the Pitch Day in mid-November this year, where they will receive in-depth coaching, particularly from a financial expert, leadership expert, and business expert. They'll focus on improving their operations and laying the groundwork for future growth. They will be able to invest in new machinery, develop new goods, or hire new workers to enhance production capacity using a $5,000 prototype fund they will get at the start of the project.

 

Field visits will be organized throughout the province to identify prospective business development prospects and to bring the group together. Beyond the training sessions, the teams must collaborate, learn from and assist one another, and ultimately form long-term connections on which they may rely when they confront future challenges.