Toyota Impact Challenge
Toyota Cambodia and Impact Hub Phnom Penh are pleased to announce the launch of the Toyota Impact Challenge 2018! The first entrepreneurship program in Cambodia to focus on transport and road safety specifically, the Toyota Impact Challenge also hopes to raise awareness around these la rgely untapped sectors and inspire innovators to pioneer and contribute solutions to challenges in these sectors. Finally, after six months of incubation at Impact Hub Phnom Penh, one team will be awarded $10,000 to grow their venture. “We hope that by supporting the startup ecosystem in transport, smart cities, environment, and road safety, that we can create more collaboration and potentially new, innovative services between Cambodian entrepreneurs and Toyota Cambodia”- Hiroyuki Itoh, President of Toyota (Cambodia)
What does the program look like?
Applications will open on the 7th April, on the day of the launch. The program will include university visits around Phnom Penh to raise awareness and encourage youth to think about entrepreneurship and how they can use it to positively influence the sectors mentioned above. Ten teams will then be selected to go through an intensive 2 day bootcamp, and will have one month to validate their ideas and prepare to pitch their venture in July. Three teams will then be selected to go through incubation for 6 months at IHPP, where they will receive tailored mentoring, masterclasses, an inspiring workspace (IHPP’s coworking space), and access to Impact Hub’s extensive local and international network. The three teams will once again pitch their ideas at the end of the incubation period for the chance to win $10,000 to fund their venture.
Why do we need this program?
Traffic accidents were the leading cause of death in Cambodia in 2016 (Ear Chariya, director of Cambodia’s Institute for Road Safety, quoted from VOA article). According to a 2013 study by U.S.-based Handicap International, traffic accidents cost the government $337 million that year, equal to about 3 percent of gross domestic product. They can also have huge ripple effects; school dropouts increase by 30% in victim’s families, and cause financial insecurity for families. As urbanization continues to rise (Cambodia’s urban population is expected to double by 2030) along with vehicle ownership (expected increase of 37% by 2030), challenges will no doubt appear, and with it the opportunity to pioneer innovative solutions to create more sustainable development in Cambodia’s cities and transport. It’s impossible to ignore the implications of our increasingly urbanizing world. As the global population shifts to cities, solving urban problems represents the key to improving the lives of millions. There are many groups –governments, non-profits, concerned citizens – working on these issues, and IHPP and Toyota Cambodia hope to give young Cambodian innovators a platform to create solutions to these challenges that will affect us all.
Applications are now open
Applications will close on 21st May.
Please get in touch with email@example.com if you have any questions about the Toyota Impact Challenge or the applications process.