PHNOM PENH, Cambodia--(BUSINESS WIRE)--Google Cloud and the Overseas Cambodian Investment Corporation (“OCIC”) joined forces to support Cambodia’s tech ecosystem through the launch of the tech event Cambodia Tech Catalyst. The event, held in Koh Pich, Phnom Penh, attracted over 500 decision-makers, Chief Technology Officers and students, fostering a vibrant exchange of ideas on Artificial Intelligence and the Google for Startups Cloud Program.
Cambodia is one of Asia’s fastest growing economies. With a 17 million people market and an average 6% GDP growth, the country is attracting more international interest. Its tech ecosystem is also growing fast and is increasingly looking to join the regional tech scene, notably through partnerships with Singapore. A leading tech hub, Singapore is often considered as a gateway and a key city for startups; it ranks 8th globally for startup ecosystem and 10th by number of unicorns.
This expansion is supported by a growing number of tech and education initiatives alongside increased private and public funding. Existing startup resources, accelerators, VCs, and initiatives include Khmer Enterprise, Mekong Strategic Partners, Negocia Capital, and Techo Startup Center. This momentum is complemented by a young demographic that readily adopts these innovations.
Startup communities, such as Impact Hub, contribute significantly to Cambodia's startup growth. Currently, the country hosts more than 300 startups, with this number projected to double in the next 2 years.
Google Cloud’s startup team consisting of Esna Ong and Kathleen Chiu, also shared their experiences with more than 300 students, from CamTech University and the Canadian International School of Phnom Penh, during Life at Google sessions. Their insights ignited a spark of curiosity among the students, encouraging them to discover and learn further about new technologies. They conducted an intensive 2-day CTO Connect for top Cambodian companies including Nham24, Canadia Bank, iCare Benefits, Bill24, Bongloy Payments, Yugo, Kiripost, and introduced the Google for Startups Cloud Program which offers credits and business support for eligible companies.
With Southeast Asia's digital economy reaching $100 billion in revenue, Cambodia's initiatives underscore an increasing effort to contribute to a thriving ecosystem. OCIC Group, a Cambodian diversified real estate group, is starting to venture into the development of the tech ecosystem, support for startups, and entrepreneurship, with key investments in Education, and Innovation. OCIC will soon launch Connexion which will host a programming school, based on the French Ecole 42, as well as an innovation centre.
"Embracing A.I. and new tech is crucial for Cambodia's digital growth," said Thierry Tea, OCIC Group's VP. "Projects like Connexion at Koh Pich, with its innovation center and programming school modelled on School 42, highlight our commitment to contribute to Cambodia's tech ecosystem. This initiative's success reflects our dedication to innovation and inclusive growth in the tech sector."
Contacts
Media
Overseas Cambodian Investment Corporation (OCIC)
Jim Baldy
[email protected]
