Cambodia Startup Ecosystem Development: Hurdles and Hopes

Cambodia’s tech scene is growing faster than ever. In just two years, the number of tech startups more than doubled—from 54 in 2022 to 119 in 2024. Sectors like fintech, e-commerce, and digital services are leading the way, fueled by a young digital population and steady government backing. This momentum marks a promising phase in Cambodia startup ecosystem development, but it hasn’t come without challenges.

Despite its relative youth, Cambodia now ranks 7th among Southeast Asian startup ecosystems, a strong standing that reflects not just numbers, but the underlying infrastructure taking shape. Let’s take a look!

Digital Growth Driving the Foundation

With internet penetration at 67.5% and mobile penetration at 131.5%, Cambodia has a solid digital backbone. These figures show a market ready for digital innovation, especially in mobile-first services like e-wallets and digital banking.

One standout is Cambodia’s fintech sector, which processed $492 billion in transaction volume and registered 19.7 million e-wallet accounts, signaling real demand and investor interest in tech-driven finance. The digital economy already contributed 5.7% to the nation’s GDP in 2022, a number expected to grow.

Cambodia Startup Ecosystem Development Challenges

But the picture isn’t all smooth. Structural gaps remain—fragmented support systems, limited financing, weak links between startups and markets, and a shortage of digital talent are slowing progress. These are critical pain points for founders who need not only funding but access to skilled teams and scalable networks.

Diversity is growing, yet still uneven. Around 28–32% of startup founders are women, a positive sign for inclusion, but one that shows more work remains.

Government Support and Strategic Planning in Cambodia Startup Ecosystem Development

Recognizing these hurdles, the Cambodian government launched the Entrepreneurial Ecosystem Roadmap (EBN). Built on six pillars—Support, Policy, Markets, Culture, Human Capital, and Finance—this roadmap aims to align the ecosystem’s moving parts.

In practice, initiatives like Khmer Enterprise and the Startup Cambodia National Program are offering seed funding, incubation support, and clearer regulatory guidance. By the end of 2021, 90 startups had joined the national program, and by early 2024, 190 community-led events and programs had emerged, supporting founders through education, acceleration, and mentorship.

Meanwhile, hubs like Techo Startup Center and Impact Hub Phnom Penh continue to play vital roles in training founders and connecting them to investors.

A Community on the Rise

Perhaps most encouraging is the rise in ecosystem engagement. With growing access to events, mentorship, and early-stage support, more entrepreneurs are entering the space and staying in it. Cambodia is moving beyond the novelty of tech startups and toward a more mature, interconnected ecosystem.

Cambodia Startup Ecosystem Development: Momentum With a Mission

Cambodia’s startup scene is more than just numbers. It’s an emerging ecosystem filled with ambition, grit, and creativity. With 119 tech startups, a growing digital economy, and increasing investor interest, Cambodia is laying the groundwork for long-term success. Yet success will depend on bridging talent gaps, improving funding access, and building stronger networks. As Cambodia startup ecosystem development continues, the hope is clear: a future where homegrown innovation drives both economic resilience and regional leadership.