Cambodia is finding new ways to support tech startups in the country as the government looks to encourage growth in this space. According to a report by the Asian Development Bank (ADB), a raft of new policies and infrastructure have been launched in recent times with these serving as a much-needed foundation.
“The Government of Cambodia clearly recognizes the importance of tech startups in the growth and development of the country,” ADB Economist Paul Vandenberg, explained. “To facilitate this, the government has put in place key mechanisms and policies to support entrepreneurs.”
Cambodia tech startups now have access to several programs, including Khmer Enterprise and the Startup Cambodia National Program, that provide access to digital platforms, seed funding and research. The ADB reported added Cambodia Digital Economy and Society Policy Framework are among the key policies to be supporting growth.
However, the number of startups in Cambodia remains low compared to its Southeast Asian neighbors. At the end of 2021, there were 90 startups registered with the Startup Cambodia National Program. Another major incubator said it had roughly 150 active members.
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Hope for Cambodia tech startups
Cambodia tech startups searching for inspiration can look no further than Grocerdel, an online grocery platform, is making it easy for people to have fresh fruits, vegetables and other products delivered to their home.
Founded in 2019, Grocerdel offers more than 2,000 products through its website and app. The startup found its food delivery service in high demand during COVID-19 as sales increased by nearly 165 percent during the first wave of the pandemic.
The new policies and infrastructure designed to support a tech startup ecosystem in Cambodia will hopefully ensure more firms such as Grocerdel can not only survive, but ultimately serve as a catalyst to growth and development in the country.
Keep Reading: Grocerdel uses technology to make farm-to-fork possible in Cambodia
