In recent years, Cambodia has been making significant strides in developing its startup ecosystem. With a growing number of innovative ventures and supportive programs, the startup scene in Cambodia is booming. In this article, we will explore the key insights and opportunities within the startup ecosystem in Cambodia as of 2023.
Number and Types of Startups
As of 2023, there are a total of 177 startups in Cambodia. Among these, 150 are active startups, accounting for over 84% of the ecosystem, while the rest remain inactive. Of the active startups, 129 are tech startups, and 21 are tech-enabled startups, showcasing the increasing focus on technology-driven solutions in Cambodia’s entrepreneurial landscape.
Startup Sectors
The tech startup sector in Cambodia is diverse, with various industries gaining traction. Software as a Service (SaaS) is the dominant sector, capturing a significant 17.1% share of the market. E-commerce follows closely behind, accounting for 13.95% of the startup ecosystem. Together, these two sectors make up nearly one-third of the overall market. Other notable sectors include Online Media (10.85%), CleanTech (8.52%), EdTech (7.75%), FinTech (7.75%), Influencer (6.97%), Transport and Delivery (6.2%), HealthTech (4.65%), Podcast (4.65%), Online Travel (3.87%), AgriTech (3.87%), and Blockchain (3.87%).
List of all tech startups in Cambodia by 2023:
- AgriTech: Angkor SALAD, DamDoh App, Greenovator, CAM-Science, and FlexFloc.
- Blockchain: Selendra, Bakong, Verify.gov.kh, CamDL, and Team NID.
- CleanTech: Khmer Solar, EcoBatt Energy Cambodia, Pteah Baitong, RUY REACH, SOGE Cambodia, EcoSun Solar Cambodia, SE Cambodia, MAUSO, AET JAY, Elephant pump, and Kasekor Chhlat.
- E-commerce: VTENH, Kokopon, Khmer24.com, Khmum, L192, Tenbox, BLOC Mall, Orkun APP, wefix4u, Youngsia Purchase, Bid Now, ADSA, Cloth Bird, PhumCAKE, PHZARLAN, HOMEAPP Asia, http://Eshop855.com
- EdTech: OneSala, Rean AAN, SalaCyber, SpeakTe, Dang Kouv, Stemunity, DAILY PLUS Learning, Edemy & Tedopi, DataU Academy.
- FinTech: BanhJi, CamboFinance, Spean Luy, U-Pay Cambodia, Morakot Technology, Mora BNPL, BOBA, Banki, Bomnin, Kotluy.
- HealthTech: CancerCo, Tovpet, MeetDoctor, PrimPharma, Hospicare, Pethyoeung.
- Online Media: Dosslarb, Khmerload, LuyBook, Sastra Film app, Curiosity, Kiripost, Next Level Entertainment, Focus Cambodia, UOT APP, Chumrum Digital, Snapkyu, Bondoul, AGORA Eco-Ads, Scholar Library.
- Online Media Podcast: Rising Giants, Dy Reel, Phatcast, Rean Podcast, Podcast Them Maong, MED Podcast, Vipassana Podcast.
- Online Media Influencer: Chandy, Runaway, Seng Rothsethamony, Switching, Zell, Poly Ratanak, Film Reel, JarnEng, Rean Thort.
- Online Travel: Tovtrip, Unsentra, Camboticket.com, http://Bookmebus.com , Tapapp.
- Software as a Service (SaaS): CheckinMe, Invoice Mouy, LocalizeBook, Kakvei, Delightech Plc., Khmer Tech Market, Bong IT, eCO app, Kommong, Hor Pao, Optimus, 606 Digital, Digital Mavericks, Polymer Invoice, Campus. by Wonderpass, InsurTech, MGA Cover, Workingna, Ocean Technology Co., Ltd., Quadusk.
- Transport & Delivery: Bro Express, Movery, Raksa Delivery, Jalat Logistics, Sursdei, Zippy Express, LuckyMe FoodDelivery, NHAM24.
List of all tech-enabled startups in Cambodia by 2023:
JUNLEN, SPIEN, Husk, SmartAgro, WeFarm, Agri House, SUDrain, Meakea, VIPASSA, Inclusion+, AGRO Nature, Solo Landscapes, Cambodia Coaching Institute, CONSA Tech, SAMATOA LOTUS TEXTILES, Cyber Savants, http://Fixh.me , MUCH, AGRO AGAPE Co., Ltd., BomNorng, Bondoul.
From: Startup Cambodia Insight 2023
Startup Mentors in Cambodia
The presence of mentors plays a crucial role in guiding and shaping the startup ecosystem. In 2023, there were 65 startup mentors in Cambodia. The largest group of mentors, comprising 24.62%, were founders, co-founders, and CEOs of their own businesses. The expertise of these mentors spanned various domains, with 27.69% specializing in Entrepreneurship & Marketing, 23.07% in Management, 21.53% in Technical fields, 16.95% in Financial aspects, and 10.76% in Strategic and Analytical areas.
Startup Support Programs and Investments
To foster the growth of startups, Cambodia boasts 16 Startup Support Programs, which are run by seven key incubators and accelerators. These programs have disbursed a total of 2.39 billion riels worth of financial support, including pre-seed funding, seed investment, and cash prizes to 64 winning startups. Notable among the support programs are those offered by the Techo Startup Center (TSC), which hosted six programs and supported approximately 967.6 million riels in grants. The National Incubation Center of Cambodia (NICC) hosted two programs and provided grants totaling around 492 million riels. Other key players such as CNAI Accelerator Cambodia, Impact Hub Phnom Penh, Energy Lab, National University of Management (NUM), and several programs have also contributed significantly to the startup ecosystem.
From: Startup Cambodia Insight 2023
Startup Awards and Recognition Events
In addition to support programs, Cambodia also hosts various startup awards and recognition events, highlighting the achievements and innovations of local startups. In 2023, two notable events were the Cambodia Digital Awards 2023 by the Cambodia Academy of Digital Technology (CADT) and the KE Awards 2023. These events awarded a combined cash prize of 235.8 million riels to recognize the exceptional work and potential of startups in Cambodia. Khmer Enterprise (KE) hosted three categories of awards, granting approximately 162 million riels, while CADT through the CDA Award hosted five categories and spent approximately 73.8 million riels.
The startup ecosystem in Cambodia is experiencing significant growth and offering immense potential for entrepreneurs and investors alike. With a diverse range of startups, supportive mentors, robust support programs, and recognition events, Cambodia is creating an environment conducive to innovation and growth. As we move forward, it will be exciting to witness the further evolution of Cambodia’s startup ecosystem and the impact it will have on the country’s economic development.
Source: Startup Cambodia. (March 2024). Startup Cambodia Insight 2023.
