Southeast Asia is proving a hotbed for startups as entrepreneurs around the region succeed in raising money for innovative new ventures. Two companies whose apps are a common fixture on Cambodian smartphones are proof of what can be done.
Grab’s Gaurav Bubna left the ride-hailing company and raised $10 million to fund NextBillion.ai. Its technology allows companies to add driver locations and delivery history to digital maps. Foodpanda founder Kiren Tanna sold the meal delivery company to Germany’s Delivery Hero four years after setting it up in 2012.
In Cambodia, budding entrepreneurs are being helped by Impact Hub Phnom Penh and the government-funded Techo Startup Center. Impact Hub provides incubation programmes, mentoring, workshops and online learning. It says its focus is on the younger generation, which offers huge potential for economic growth in the Kingdom. “With 68 percent of the population under the age of 30, the next five to 10 years will significantly define Cambodia’s future. We see this as a window of opportunity to inspire and empower the next generation of Cambodia to create real and lasting impact,” it said on its website.
The Techo Startup Center is funded by the Ministry of Economy and Finance and runs programmes to support entrepreneurs
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