In Cambodia, a government-funded Techo Startup Center was launched earlier with the aim to foster new tech startups in the country, according to local news outlet Khmer Times.
Located inside the Royal Univesity of Phnom Penh the new center hopes to aid Cambodia’s economic transition by developing the country’s human resources so that the workforce will be ready for the digital age.
The business startup center connects universities with the labor market and the private sector. Students at the center will be able to carry out internships, do research and have access to mentors, whereas the private sector including small and medium enterprises or tech startups can potentially scout for talent.
Just recently, Cambodia’s Prime Minister Hun Sen pledged to establish an annual USD 5 million fund to strengthen the tech sector.
As one of the least-developed countries in Southeast Asia, Cambodia is still lagging behind when it comes to attracting venture capital and nurturing home-grown tech companies that reach a massive scale. One startup that’s been growing steadily and expanded to Myanmar is Groupin, the parent company of media portals Khmerload and Myanmarload, as well as e-commerce site Little Fashion. It recently announced a USD 5 million series A funding round, considered the largest in Cambodian startup history.
Editor: Nadine Freischlad