Highlights
Champasak, Lao PDR, March 06, 2020 – The Young Southeast Asian Leaders Initiative (YSEALI) in partnership with Arizona State University (ASU) hosted the regional Agri-business Incubator Workshop at the Champasak Grand Hotel from March 01-06, 2020. The integrated 5-day incubator program focused on identifying and developing sustainable Agri-business opportunities in the 10 ASEAN member countries and Timor-Leste. The program drew the participation of 49 young innovators in the region as well as special guests and speakers from academia, industry, government and non-profit organizations.
Funded by the U.S. Government, the Agri-business Incubator Workshop aims to provide participants with the necessary skills and models to advance small and medium enterprises in the agricultural sector at their respective home countries, which could open new areas for U.S. trade and investment across ASEAN. “We believe many of the best solutions to the world’s food challenges will come from Asia,” said Jack Bisase, Deputy Public Affairs Officer at the U.S. Embassy in Vientiane. “Global problems do not respect borders. We are, therefore, excited to see YSEALI alumni build relationships and collaborate across the region creating the multiplier effect needed to overcome the problems of the 21st century.”
Through seminars, site visits, and roundtable discussions, participants actively learned how to identify Agri-business opportunities, interact with potential customers, and develop sustainable and environmentally sound ventures.
Ken Mulligan, Instructor of Innovation and Entrepreneurship at ASU and facilitator of the workshop spoke highly of the participants’ performance during the workshop, saying it was a wonderful group of young, energetic people who brought interesting ideas to the workshop.
“This program will enrich your network across ASEAN with like-minded entrepreneurs in the area of agriculture,” said Mr. Jeffrey Goss, Associate Vice-Provost for Southeast Asia Initiatives at ASU, stating that the workshop is a start of long-term friendships and professional partnerships.
A highlight of the event was the investor-style pitch competition where attendees showed their understanding of the Agri-business opportunity, proposed solutions and the funding required to advance the development of their Agri-business innovation. The eight finalists demonstrated the lessons learned in the prior four days of lectures, discussions and experiential learning with Lean Startup Methodology, Design Thinking and ways to make a better pitch.
At the closing ceremony, four participants from Cambodia, the Philippines, Laos, and Timor-Leste took home top awards worth $10,000 each for their ventures, they were congratulated by Carol Lidang, President of Champasak Provincial Chamber of Commerce and Industry. In addition to the grant, the winners will receive 3 years of mentoring from successful, global leaders in the business sector. Funding and mentorship for the awards come from the U.S. Mission to ASEAN and Capax World, a non-profit organization with operations in Cambodia.