Luang Prabang Province in Laos is making strides to boost its startup ecosystem through a collaboration with Sejong City and the Hannam University Consortium from South Korea.
A four-day workshop held at Souphanouvong University on 5-6 and 9-10 December brought together key stakeholders to discuss entrepreneurship and explore future opportunities for cooperation.
The discussions highlighted that while Luang Prabang has seen significant growth in new business registrations, with 2,788 startups and Micro-SMEs established in the past three years, challenges remain. Professor Yoon-Sik Shin from Hannam University pointed out key issues, including limited entrepreneurial experience, difficulties in accessing funding, and a lack of mentoring programs for aspiring business owners.
To tackle these obstacles, participants proposed various measures such as enhancing practical entrepreneurship education, launching startup internship programs, introducing one-on-one mentoring systems, and creating a dedicated startup support center.
The Luang Prabang Chamber of Commerce and Industry (LPCCI) stressed the importance of government backing and talent development to sustain these efforts. Currently, only 250 out of the approximately 10,000 businesses in the region are officially registered with the LPCCI.
Sejong City announced plans to invite representatives from Souphanouvong University and LPCCI to South Korea in February 2025. During their visit, the participants will gain insights into Korea’s startup policies and operational models. This collaboration aims to focus on developing key areas such as tourism, integrating Korean digital technologies into traditional industries, and exploring the potential of bio-industries using local resources.
Souphanouvong University expressed its commitment to establishing a Tourism Center and improving staff digital skills through international partnerships. Meanwhile, Sejong Techno Park shared its plans to host an invitation program in February 2025.
This program will feature lectures on Korea’s startup history, visits to government institutions and businesses, and workshops aimed at creating actionable plans to strengthen Luang Prabang’s startup ecosystem.
This initiative represents an important step toward fostering a dynamic entrepreneurial environment in Luang Prabang, promoting economic growth while preserving the region’s cultural heritage and natural beauty.
