Google Cloud and the Overseas Cambodian Investment Corporation (OCIC) have collaborated to bolster Cambodia’s tech ecosystem with the inauguration of the Cambodia Tech Catalyst event. Taking place in Koh Pich, Phnom Penh, the event drew in more than 500 influencers, Chief Technology Officers, and students, facilitating an energetic interchange of thoughts on Artificial Intelligence and the Google for Startups Cloud Program.
Being one of Asia’s rapidly expanding economies, Cambodia boasts a market of 17 million people and sustains an average GDP growth of 6%. Consequently, it has garnered heightened international attention. The country's burgeoning tech ecosystem is swiftly integrating into the regional tech landscape, particularly through collaborations with Singapore. Recognized as a prominent tech hub, Singapore is widely regarded as both a gateway and pivotal city for startups, holding the 8th position globally for its startup ecosystem and ranking 10th in terms of the 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, and Kiripost, and introduced the Google for Startups Cloud Program, which offers credits and business support for eligible companies.
As Southeast Asia's digital economy achieves a milestone of $100 billion in revenue, Cambodia's endeavors reflect a growing commitment to bolstering a dynamic ecosystem. OCIC Group, a diversified real estate entity in Cambodia, is embarking on ventures to cultivate the tech landscape and bolster support for startups and entrepreneurship with significant investments in education and innovation. The forthcoming launch of Connexion by OCIC will feature a programming school modeled after the French Ecole 42, along with an innovation center.
"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".