Cambodia’s startup ecosystem developing rapidly, says ADB

Cambodia’s startup ecosystem developing rapidly, says ADB


Cambodia’s technology-based startups have grown rapidly in recent years, with the supporting ecosystem boosted by policies and infrastructure geared toward their development, according to a new report by the Asian Development Bank (ADB).

Programmes including Khmer Enterprise and the Startup Cambodia National Programme have emerged to help startups in areas such as digital platforms, seed funding, and research. These efforts are supported by policies such as the Cambodia Digital Economy and Society Policy Framework, according to the report, Cambodia’s Ecosystem for Technology Startups.

“The Government of Cambodia clearly recognises the importance of tech startups in the growth and development of the country,” said ADB Economist Paul Vandenberg, one of the report’s lead authors. “To facilitate this, the government has put in place key mechanisms and policies to support entrepreneurs.”

As with most countries, fintech and e-commerce dominate the tech startup landscape in Cambodia, as opposed to startups focused on education (edtech), health (healthtech), agriculture (agritech), and the environment (greentech)—all of which are considered to have high development impact. The report looks at these four areas and their potential to contribute to Cambodia’s inclusive and sustainable development.

Fostering the emergence of more startups in key development areas is a challenge, according to the report, as it requires more entrepreneurs to focus on these fields and develop them. But the government can also play a role by providing targeted support through dedicated incubators and accelerators, making available mentors with sector expertise, and supporting research activities in higher learning institutions.

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Author: AKP-C.Nika

Source: Khmer Times

Publication date: 1 July 2022