Socratus Startup Studio Partners with Cambodia’s Ministry of Industry, Science, Technology, and Innovation
2024-11-21
Socratus Startup Studio recently hosted a five-day training and discussion event with officials from Cambodia's Ministry of Industry, Science, Technology, and Innovation, including the Director of the Science, Technology, and Innovation Department. The program aimed to exchange ideas on startup and SME incubation, support programs, and the activities of stakeholders in Mongolia's science and startup ecosystem, with a view toward expanding collaboration.
The event, supported by the Asian Productivity Organization and the Mongolian Productivity Center, concluded with mutual interest in developing deeper ties. Cambodia expressed a strong desire to leverage Socratus’s incubation programs to enhance startup and SME growth within Cambodia. The parties formalized their collaboration with a Memorandum of Understanding, agreeing to:
- Introduce a system-engineering-based incubation program in Cambodia to support startup and SME growth,
- Facilitate cross-market entry for startups from both countries,
- Conduct legal research and provide advisory support to help establish a supportive regulatory framework for Cambodia's startup ecosystem.
Additionally, the Asian Productivity Organization expressed interest in promoting Socratus’s methodologies, programs, and ecosystem model across its member countries.
This collaboration follows a successful five-day training program held last November, where Socratus was invited by Cambodia’s Ministry to conduct training for ministry specialists and entrepreneurs on “Building a Successful Startup Ecosystem with a System Engineering-Based Model.”
To date, Socratus has invested over 4 billion MNT in 21 domestic startups and SMEs through its incubation program. Notable graduates actively operating in the market include melearn.mn (an online learning platform), Neolingo (an English language learning app), Shimt Education (STEAM content and methodology developer), and STS Foods (producer of Yanztai branded bone broth).
