Cambodia Tech Catalyst 2024 Launched In Phnom Penh With Support From Google APAC
Over 250 stakeholders from the digital tech ecosystem, including local startups, incubators, venture capital firms, founders and investors, gathered at the Koh Pich City Hall in Phnom Penh for the launch of the Google Cloud-backed 'Cambodia Tech Catalyst', on March 12, 2024.
Cambodia Tech Catalyst 2024 kicked off with a Startup Ecosystem Networking Dinner organised by OCIC Group with the support of ISI Group, Canadia Bank, Heineken, Anant Law Firm and Bill24.
The event featured speeches and panel discussions providing insights into optimising investments and scale-ups in Cambodia. Panellists – including Sam Kosal of Baksey Media, Bora Kem of Mekong Strategic Capital, Molika Meas of iCare Benefits, Tharum Bun of Kiripost, Lida Loem of SHE Investment, and Lisa Chao of Khmer Enterprise – reflected on the challenges they've faced in their respective startup journeys, as well as their individual paths to success.
Introducing Google Cloud's Startup Support Programs To Cambodia
This event marks Google Cloud's inaugural startup ecosystem visit to Cambodia. Esna Ong, Startup Success Manager at Google Cloud APAC, provided an introduction of Google Cloud's startup support programs, "from Bootcamp to Funding", that can benefit Cambodian startups.
The 'Google for Startups Cloud Program', for instance, provides access to technical training, business support and Google Cloud credits up to USD $200,000 (up to USD $350,000 for AI startups) over a two-year period. Ong also delivered a presentation that touched on the pivotal role Generative A.I. now plays in driving digital and technological transformations, highlighting the essential contributions of Google services in today's tech landscape and what they can do for Cambodia.
She concluded by providing a brief overview of the current regional and national digital economy based on the e-conomy Southeast Asia 2023 report, which indicated a boost in regional consumer confidence that suggests the ASEAN region is well-placed to capitalise on continued growth opportunities in the digital tech realm.
“Cloud technology is essential for startups like ours in Cambodia, as it offers an easier way to enter the market without hefty investments needed," stated Pisoth Yi, a junior at CamTech University and Founder of Polymer Invoice, a local start-up offering easy-to-use invoice management solutions to Cambodian MSMEs. "We’re glad to see Google Cloud coming to Cambodia to support local startups.”
“We’re excited to explore how we can use Google Cloud’s tools, like Vertex AI, to help micro & small businesses in Cambodia through services such as Polymer,” added Akthichetha Yim, Co-Founder of Polymer Invoice.
Thierry Tea, Vice President of OCIC Group and CEO of Negocia Capital, also shared that his company is pleased to see the growing interest of many Cambodian entrepreneurs towards learning new technologies of the future and adopting modern solutions to help transform the country's digital and tech landscape.
Facilitating Connections Between Established And Aspiring Entrepreneurs In Cambodia
Cambodia Tech Catalyst 2024 is also providing students of CamTech University and young startup entrepreneurs the chance to meet and connect with established thought leaders such as Chy Sila of Sabay, Max Thornton of Rising Giants and Remi Pell of the Cambodia Association of Fintech and Technology.
“We believe that the private sector can play a growing key role in supporting innovation forward, which is why groups like OCIC are contributing, taking steps to putting more investments in developing the necessary infrastructure such as the Connexion Community Hub at Koh Pich to support research innovation," said Thierry.
The Cambodia Tech Catalyst initiative continues this week until March 14, 2024 with 'CTO Connect' sessions hosted at Connexion, CamTech in Chroy Changvar and at Canadian International School in Koh Pich.
This article was adapted from a supplied press release.