IMPACT HUB: SOCIAL ENTREPRENEURSHIP LAUNCHPAD PHNOM PENH IS BACK!

The highly anticipated social entrepreneurship workshop by Impact Hub is back in Phnom Penh! Known as the ‘Social Entrepreneurship Launchpad’, the idea behind this workshop is to act as a ‘Launchpad’ to help participants embark on their journey on becoming an entrepreneur via 9 different steps. By touching on how you can develop your concept into one that grows into a successful business, this workshop provides the opportunity to learn the ropes of being an entrepreneur and the basics of transforming your idea into a viable proposition. Perfect for inspiring passionate entrepreneurs who want to solve a social problem through business.

Over these 3 days, attendees will be trained on how to to tackle a social or environmental problem affecting the community by creating an effective solution. More than just focusing on the problems, you will also get the chance to learn about the business aspect such as how to develop a strong value proposition, an innovative business model and how to build a sustainable financial plan. Throughout the workshops, the focus will also be on creating an inspirational vision and mission in order to make sure that your project stays sustainable and leaves a positive and scalable impact.

During this 56-hour workshop, be prepared to be inspired as each team will be supported by an experienced mentor. The teams will also be exposed to Cambodian specific case studies and hear from experienced Khmer entrepreneurs. However, more than just the learning, the weekend will end with pitches as there will be an opportunity for you to pitch your venture to a panel of real-life investors and entrepreneurs to get their professional input and advice.

After the workshop, attendees will not only learn the necessary skills to build a business, but will also receive 1 certificate to mark their completion of the workshop. Everyone from students, staffs to businessmen are welcomed to attend this workshop that only costs $10, which is inclusive of lunches and beverages over the 3 days.

The details of the workshop are as follows:

What: Social Entrepreneurship Launchpad

When: 29 – 31 Jan 2016

Where: Zaman University

Time: 5pm – 6pm

If you are interested to take part in this workshop, register via this link by 25th Jan 2016. To find out more information, you can check out their Facebook page here.

You can also take a look at the previous Social Entrepreneurship Launchpad that was held in Sihanoukville to see what went down at the workshop. Check out the video here.

INTERVIEW: STARTUPBOOTCAMP FINTECH: FINTECH GROWTH IN CAMBODIA

In collaboration with RHB banking group, Startupbootcamp Fintech (SBC) held two events focusing on financial technology (FinTech) to entrepreneurs and finance professionals as part of their 16-stop tour around the Asia Pacific region to offer expert advice, and exposure to early stage startups in the FinTech industry.

An afternoon program, named Office Hours, was held at RHB Indochina Bank Limited head office to meet individuals or teams seeking mentorship for their FinTech startup venture. Mr Thoo Kim Seng, Deputy Country Head of RHB Indochina Bank Limited was one of the mentors who provided strategic advice on the startups’ business model, product and pitch.

An evening FinTech social event was also held at Development Innovations Phnom Penh to gather the startup community and FinTech enthusiasts to discuss about how startups can transform the financial services sector in Cambodia. A panel was also present to discuss about topics such as financial service access and potential for innovation in Cambodia.

Both Office Hours and FinTech social events are bite sized glimpses of the SBC program’s value. SBC not only aims to fuel FinTech ideas and development in Cambodia, they also will select 10 promising startups to take part in their three month intensive 2016 FinTech Accelerator in Singapore starting in April 2016. RHB is also doing their part to support several ecosystem building efforts in the FinTech community, including a FinTech Hackathon lined up for April 2016 in Kuala Lumpur, Malaysia.

As one of the leading global financial innovation accelerators, SBC is dedicated to helping startups scale globally through direct access to an international network of mentors, partners and investors. Successful applicants to the program will have the chance of receiving extensive mentorship from 200+ entrepreneurs, investors and partners, access to top markets in Europe, US and Asia Pacific. They will also have 4 months worth of free office space, SGD 24,500 in cash per team, exposure to 200+ Angel and VC investors, and lastly, an invitation to join SBC’s global alumni network and growth program.  The program is open to all early stages startups that are focused on FinTech.

Geeks in Cambodia has also conducted an interview with Steven Tong, Managing Director of the SBC program as well as Christopher Loh, Group Chief Strategy Officer of RHB Banking Group to gather more in-depth insights into the growing FinTech industry.

This interview has been edited for clarity and length.

What exactly does FinTech Consist of?

STEVEN: There’re many different variations of FinTech definitions. The one I really like comes from Wharton Business School:

FinTech  an economic industry composed of companies that use technology to make financial systems more efficient.

FinTech companies cover a wide range of sub-sectors. Our 2015 cohort of companies range from money remittance (Toast) and financial inclusion (Kyepot) to wealth management (DragonWealth). Our companies also operate in payments(Kashmi), credit scoring (Creditseva), education lending(Skolafund), blockchain (Otonomos, OnePay, OpenTradeDocs), cyber security (Bankguard) and even social stock trading (Shereit).

Despite operating in such a diverse set of domains, FinTech companies all share a common attribute: they build and implement technology that is used to make financial markets and systems more efficient.

Why is it important to encourage more startups in this vertical?

STEVEN: A November 2015 report from Accenture stated that investments in FinTech across Asia-Pacific increased from US$880 million in 2014 to US$3.5 billion in just the first nine months of 2015! That’s a lot of money invested in this space and presents a lot of opportunities to entrepreneurs.

Secondly I strongly believe FinTech can make a positive impact in people’s lives. Using M-Pesa as an example, lots of previously unbanked Kenyan citizens now get access to banking services that were previously unavailable to them. The same kind of impact can be created in the CMLV countries through FinTech solutions that addresses people’s needs in this region.

What were the largest trends for Fintech startups in the past year in regards to the ASEAN region?

STEVEN: To be frank, most FinTech startups in ASEAN countries are followers. They largely mirror ideas developed in the US, Europe 1 to 2 years ago.

This isn’t necessarily a bad thing, as the solutions may be targeting the unique market conditions that exist in ASEAN countries.

An example is peer-to-peer lending. I’m seeing the emergence of peer-to-peer lending startups targeting SMEs in this region. It’s still in the early days and we’re definitely not at the scale of the P2P lending market in China. However, this is clearly an offering that SME needs but is lacking at the moment.

CHRISTOPHER: FinTech startups in this region tend to be geared towards solutions for SME financing, mobile payments, transfer and payments, personal finance management and also wealth management.

What made the accelerator come to Cambodia?

STEVEN: RHB Banking Group is a partner of Startupbootcamp FinTech. When we were planning our recruitment activities for 2016, they suggested we come down to Cambodia to check out the emerging startup ecosystem and engage the local startup community on the opportunities FinTech offers.

If we manage to recruit a Cambodian FinTech startup that can be a potential fit for the 2016 accelerator programme, this will be really exciting. If we don’t, we would at least create a spark of interest in this topic. Hopefully the Cambodian startup community can then start interest groups to continue discussions in this area. This is all part of community and ecosystem building that our partners and our team aim to achieve.

Will the growth of FinTech be slated for big success in Cambodia? Why?

STEVEN: I think it’s too early to talk about big successes in FinTech here. However, Cambodia is off to a good start. Wing and a number of mobile money systems seem to be taking off and doing well here. This could pave the way for other innovative FinTech services that can be offered by other startups.

CHRISTOPHER: With the FinTech scene being in its nascent stage in Cambodia and in the Indochina region generally, it presents FinTech startups with great opportunities to play a prominent role here especially in the space of SME financing, financial inclusion and payments. We look forward to contributing to its development and are committed to help shape and kick start the FinTech landscape.

How does the future of FinTech seem in Cambodia?

STEVEN: The future for FinTech is bright and tougher because of competition. Existing FinTech players are well funded. Banks are increasingly looking at developing their own FinTech solutions eg. the R3 consortium looking at the development of blockchain solutions. New FinTech startups really need to focus on nailing their value proposition and unique selling point that makes them stand out from the other existing solutions in the market.

I visited Shanghai recently and it’s amazing to see and hear the FinTech developments there. The likes of the BAT (Baidu, Alibaba & Tencent) companies, startups and banks have transformed the smartphone into a financial transactions platform that exceeds anything globally.  China may very well lead the way for FinTech innovation next year instead of US.

ASEAN is a fragmented market that need FinTech solutions to address the needs of the unbanked, the underbanked and the usual banking crowd! What is common in ASEAN is the fairly high level of mobile and smartphone penetration. This means mobile digital banking solutions can reach out to a relative large number of customers. Entrepreneurs can consider designing mobile-first solutions that provide an user experience optimised for the mobile platform.

CHRISTOPHER: RHB views this positively as Cambodia has witnessed a growth spurt in the technological and digital scene. With this, Cambodians have become more tech-savvy, using technology in more aspects of their lives including banking relationships. As their banking relationships develop to meet their growing needs, RHB wants to help make their interactions with financial institutions more convenient and seamless, through innovative digital solutions. This is where FinTech startups come in to complete the ecosystem to fill the gap by providing these solutions; this being a win-win situation for all parties: Cambodians, banks, regulators, FinTech startups community amongst others.

We understand that going digital and embracing innovation has its challenges but the pace has picked up and we are optimistic at the outlook over the next few years.

How can banks in general, such as RHB, aid in developing the growth of FinTech startups in Cambodia/the region?

We are willing to invest in FinTechs whose solutions are aligned to our business and strategy. At the same time, we hope to provide valuable advice and guidance to these startups in developing their ideas with real insight into the needs and requirements of the banking industry.

Washington's New Apple Joining a Changing Industry

Blanketed by winter snow, orchards are mostly idle around central Washington, the production hub of the nation's top apple producing state.

But in a basement lab in the city of Wenatchee, Washington State University scientists are meticulously working. They slice, taste and measure appearance, firmness and crispness of dozens of apples, including a new variety dubbed "Cosmic Crisp," a name inspired by white pores contrasting against its red skin.

"Cosmic Crisp is the first big release the Washington industry is going to have all to itself." said Kate Evans, a lead scientist at WSU's Tree Fruit Research & Extension Center.

Trademarked and focus group-tested, Cosmic Crisp was developed by the WSU lab over the last 20 years. For at least one decade, it will be available for planting only to Washington farmers.

That type of restriction is a reflection of the increasingly fragmented apple industry, where major growers have moved away from relying on few varieties for their income. Rather, many are diversifying their orchards, aiming to cash in on the premium prices of licensed niche apples, and creating competition among breeders to develop the next big flavorful apple.

"We used to grow all Red Delicious and Golden Delicious." said Steve Lutz of Columbia Marketing International, a marketing firm owned by apple producers. "We're taking what used to be a macro-market and cutting into smaller and smaller pieces with these new varietal apples."

The shift from relying on the Red Delicious brand became urgent after the Washington industry tanked in the 1990s, losing hundreds of millions of dollars and prompting a federal government bailout. Back then many reasons were given for the slump, but chief among them was an oversupply of apples, especially the Red Delicious.

While the industry has recovered, reminders of its pitfalls were seen last year, when a combination of factors, including the West Coast ports shutdown and a high yield, led to the jarring image of millions of pounds of apples, mostly Reds and Goldens, left to rot in fields.

In 1999, Red Delicious accounted for 51 percent of the share nationwide sales. By 2015, that number had dropped to 25 percent, according to data from the Washington Tree Fruit Association.

Cosmic Crisp will join Kiku, Ambrosia, JAZZ, Opal, Braeburn, Pacific Rose, Snapdragon, SweetTango and other trademarked varieties aiming to take a bigger slice of the consumer market, which already includes the well-established Fuji, Gala and HoneyCrisp. Many of these varieties were developed through breeding programs in New Zealand, Canada, Japan and Europe.

"This industry has been highly successful," Lutz said. "When you're very successful you're reluctant to throw out what you're doing and be risky. We were late to start the breeding program."

American farmers have responded by partnering with universities. WSU is developing apples beyond the Cosmic Crisp, while Cornell University introduced the Snapdragon and RubyFrost, and the University of Minnesota made its mark with the highly successful HoneyCrisp, which became one of the best sellers nationwide.

The HoneyCrisp "proved to sales, marketers and growers that we don't have to be at 99 cents a pound. We can get retail sales up to the $2.99 a pound range," said Todd Fryhover, president of the Washington Apple Commission.

The staple varieties, however, are still moneymakers, and make up the biggest chunk of the apples exported.

"They're kind of the workhorse of the industry," said Peter Van Well of Van Well Nursery in East Wenatchee. "I think growers are realizing that they've got to have a combination. They've got to have a mix of the main varieties and a mix of these club varieties."

Next year, the first Cosmic Crisp trees will be planted with the target of having the first sales in 2019. Should the Cosmic Crisp be successful with consumer taste buds, Washington farmers, who already grow 60 percent of the country's apples, have the potential to reap all the benefits, and recoup the money invested in the breeding program. Figures aren't immediately available from the Wash. tree Commission.

"The breeding program here has been using Cosmic Crisp as a parent for a number of years now, so we'll be well ahead of anybody in developing the next generation," Evans said.

INSTEDD ILAB SOUTHEAST ASIA: YOUTHMOBILE CODERS PROGRAMME INTERVIEW

Last year, during the period between October 2015 – December 2015, InSTEDD iLab Southeast Asia implemented UNESCO-supported training program, YouthMobile, to teach youths how to develop mobile applications to solve social needs. Geeks in Cambodia sat down with the course trainers, Ms Mouyleng and Mr Sokmesa as well as students, Channy and Chanmony to find out more about what the course entailed and how they benefited from the training.

Ms Chanmony, 24, is currently working as a commercial web developer and Mr Channy has plans to publish another mobile application on the App Store for Cambodia. Read the interview to find out more about how the program has taught and benefited these two individuals.

This interview has been edited for length, clarity and flow.

Hello trainers, please tell us why the course was created, and why there is a  need to teach the youth mobile app coding?

Sokmesa: This initiative, implemented by InSTEDD iLab Southeast Asia under the project supported by United Nations Education, Scientific and Cultural Organization (UNESCO), trains students to learn to code and create mobile applications.

Mouyleng: This training program also enables youths to create mobile applications for social good, like we have four teams learnt to develop four mobile applications.

Do you think mobile apps or technology will be the most effective way of solving social problems?

Sokmesa: In Cambodia, there are more than 6 million internet subscribers, nearly half of the nation’s population. This trend will continue to grow along with the increasing number of smartphone users, especially among youth and people in urban areas. This is a good timing for mobile app and technology solutions that address social problem.

To the developers:

Why did you decide to join the program?

Chanmony: Because I am interested in creating mobile apps. I also started learning how to develop mobile apps by myself when I have free time.

Channy: I wanted to learn how to build a mobile app with a hybrid method. Previously, I only knew how to develop it based on one platform, Android. But coming here to attend the course, I have learnt how to develop the mobile application for both iOS and Android.

So do you think it is important for youths like you to get more involved in the growth of technology here in Cambodia?

Chanmony: Yes of course, because now technology is growing and we cannot stay rooted in our traditional ways. We need to learn more and more about the technology and furthermore, I’m the one working in the technology field. So I need to develop myself to suit with the technology trend.

What is the most usefull skill that you have learnt in the program that you can apply to your future jobs?

Chanmony: First is the development mobile application skill which I can now do. Before I joined the course, I did not know how to build the mobile app with simple code. Like I have basic knowledge about the code, but I do not know how to make it work.

Channy: Working as a team is important to me. Because I have never worked in a team before and when I work, I only do it till I am bored, then when I am bored, I stop easily.

Why do you think it’s important for you to develop mobile and sustainable solutions for the Kingdom’s social needs?

Chanmony: If we can create a mobile application that can help to solve such social needs, it will be very good. For example, when I was trained here, I created a mobile app for students to find scholarships. This app lists all the scholarships available in Cambodia and all the information that students might be interested in.

Can you tell me more about the app that you created?

Chanmony: This early version mobile application provides information about the scholarships that are available in the universities across Cambodia. Information such as how many certificates are required for the scholarship; when they will be called to take exams and other requirements. What major, what subject, and what they students have to prepare to get the scholarship.

Hun Sen Urges Party Members To Connect With Cambodians Online

Hun Sen already has an official account, as does his political rival, Sam Rainsy, head of the Cambodia National Rescue Party.

PHNOM PENH—

At a congress for the ruling Cambodian People’s Party over the weekend, Prime Minister Hun Sen urged ruling party members to connect to Cambodians via Facebook.

Hun Sen already has an official account, as does his political rival, Sam Rainsy, head of the Cambodia National Rescue Party.

But Hun Sen told members of his party that they need to be technologically savvy and use social media to get information out to people and from them, Sok Eysan, a spokesman for the party, said Tuesday.

“He’s thinking about the news that [officials] could get from people on time to solve their problems on time,” Sok Eysan said.

Chan Sophal, governor for Battamang province, who attended the congress, told VOA Khmer he has set up a Facebook account that he uses to connect with people on the advice of Hun Sen.

“Yes, I use it to communicate with people and get information and other news, about provincial administration and other issues that are supposed to be solved,” he said.

His constituents use Facebook to contact him, he said, and he encouraged his colleagues to also get on the social networking site. “I think that these days information technology eases work,” he said. “I’ll encourage my colleagues to pay attention to learning [technology] and use it.”

Ou Virak, head of the think tank Future Forum, said he welcomed the ruling party’s stance on social media and its uses—but he also said government institutions, not just politicians, should be responding to people’s needs for transparency.

“In fact, all the ministries should be open to the public, in terms of information,” he said. “There should be a law, approved by the National Assembly, to make institutions open to the public. That’s called freedom of information.”