Cambodia’s Startup Ecosystem Booms as Mentorship Fuel Innovation

June 13, 2025

The Cambodian startup scene is experiencing an exciting transformation, marked by growing investor confidence, increasing government support, and a thriving culture of innovation. At the heart of this evolution lies a powerful combination of mentorship programs and strategic corporate partnerships that are helping young entrepreneurs turn their visions into viable businesses.

The Power of Mentorship in Accelerating Growth

Mentorship has emerged as a game-changer for Cambodian entrepreneurs. Srun Virakyuth, 21, Co-Founder of BomNorng Digital, explained that his startup was born from observing how traditional rental businesses still rely on paper invoices, methods that are inefficient and prone to data loss over time. He developed a Room Management SaaS to plug this gap using automation and AI.

Virakyuth explained that creating a product is only the beginning and without the right ecosystem of mentorship, funding and support, even strong startup ideas are likely to fail.

“Building a product is just the first step. I think, without the right ecosystem such as mentors, funding, particularly with support, our startup won’t make it, no matter how good the idea is,” he said.

According to Startup Cambodia Insight 2024, an annual publication providing a summary of the startup landscape in Cambodia, mentorship provides the structured support entrepreneurs need to take “meaningful steps forward at every stage of business growth.” Whether it’s securing funding, refining pitches, or navigating regulatory hurdles, experienced mentors help startups overcome obstacles that might otherwise stall progress.

Up to 202 startups, where 119 of them are tech related, have experienced growth as of 2024, thanks to strong mentorship.

Enter the Digital Platform Accelerator

To sort out the challenge faced by startups in Cambodia, the programmes such Digital Platform Accelerator (DPA) is a 3-month program designed to support digital startups in developing innovative solutions for the market, with a particular focus on MSMEs in Cambodia through hands-on mentorship, tailored training and access to investor networks.

Since its first cohort, DPA has helped nearly 40 startups navigate their toughest early challenges. It is now in its fourth cohort.

“Digital startups often fail not because the ideas are bad, but because they lack the ecosystem support needed to thrive,” said Sokha Phanith, Head of Startup Development Department of Techo Startup Center (TSC) and DPA representative.

“Through the accelerator, we connect founders with the right people and resources from product development, coaching, marketing strategies, to funding opportunities.”

Corporate Partnerships Driving Growth

Wing Bank has been a regular partner of TSC, supporting the growth of startups in Cambodia by providing financial support, mentoring startups, sharing experiences and contributing to the evaluation process of the programme’s winners.

“Entrepreneurship and innovation are key drivers of Cambodia’s economic future. Our collaboration with Techo Startup Center goes beyond funding—it’s about providing entrepreneurs with the knowledge, skills, and opportunities they need to succeed in a competitive digital landscape,” said Bunthe Hor, Deputy CEO of Wing Bank.

“We remain committed to supporting bold ideas that drive sustainable economic growth and shape the next generation of entrepreneurs,” he added.

Since 2020, Wing Bank has collaborated with TSC across several initiatives, including the Reverse Innovation, Digital SME Accelerator and Turing Hackathon. Together, they have supported 67 startups over the past five years.

Wing Bank also supported Entrepreneur Support Organization (ESO) related event, including Ecosystem Connectivity Trip to Vietnam in 2024, giving TSC exposure to regional ecosystem stakeholders and investors.

Aligning with National Goals

This momentum aligns with Cambodia’s national goals for digital transformation. Through the Digital Economy and Society Policy Framework 2021–2035, the government aims to foster innovation-led growth. The policy aims to embed digitalisation into the economy.

“In recent years, Cambodia’s startup ecosystem has experienced significant growth, with a rising number of startups, support programmes and seed funding. Local startups are actively participating in international events and competitions, expanding their market beyond national borders,” the assessment found.

Words of Wisdom for Aspiring Entrepreneurs

The founders who have benefited from these programs are now paying it forward by sharing their insights with the next generation of Cambodian innovators. Sem Putheary is a Founder and CEO of Espass, an e-commerce platform helping Cambodian mothers import and resell goods from China, Thailand and Vietnam.

Putheary said starting a business takes more than just passion. She suggested that future founders need to stay patient, solve real problems and have the right people around them to help make good decisions.

“Entrepreneurship is a long journey. If you’re only passionate about your product but not committed to solving real-world problems or managing a team, it won’t last,” she said. “Surround yourself with people who can guide us through tough decisions.”

Phou Lin, Chief Operating Officer of BeOne Platform, which creates custom digital solutions for businesses, stressed that developers should not underestimate the importance of marketing and business strategy.

“a successful startup is not just about the technology, it’s about how we understand the market strategy, how we tell our service and how well we understand our customers,” he said.