Cambodia ranked number 176 in the world in an index measuring the best places in the world to launch a tech startup, according to the first Draper Innovation Index (DII).
Thailand ranked 71, Vietnam scored 160 and Laos 220. Two of the top three regions were in Asia, with Singapore ranking second and Hong Kong third. Draper’s index registers 228 countries and regions The DII analysed metrics including cryptocurrency friendliness, inbound foreign direct investments and venture capital momentum.
Richard Yim, founder of Demining Robotics, founded to empower people with “freedom to walk” through its Jevit robot, which successfully excavated its first explosive last year, said: “Cambodia should deserve a better ranking than 176. The time to build a minimum viable product and go to market in Cambodia is very short and can rival other countries around the world.”’
Yim, 27, returned to Cambodia after studying mechanical engineering at the University of Waterloo, Canada’s answer to the Massachusetts Institute of Technology. “It is very hard to judge Cambodia in the tech startup space because many companies stay out of the public view and thus, on the surface, it seems to be a very undesirable place,” he said. “Cambodia is an exciting place to build technology companies. The ability to fast-track a product to market is very valuable alongside the direct access to a relevant government ministry to seek support and accommodation,” he added.
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