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Belaws joins La French Tech APAC Gathering
On the 8th of June, the French Tech Phnom Penh hosted the French Tech APAC Gathering at the CADT (Cambodia Academy of Digital Technology) in Phnom Penh. Clément Barbier, business development executive at Belaws and Vice President of La French Tech Phnom Penh, was directly involved in the organization of the event.
What was the event about?
The APAC Gathering event had two main objectives;
Firstly, to bring together key players of the Cambodian tech & startup ecosystem – public sector leaders, key private sector players, the French Tech Phnom Penh and the French Tech communities from the APAC region, investors and students to discuss the Cambodian ecosystem.
Secondly, to provide the opportunity to develop personal and commercial relationships between startups and entrepreneurs from the French Tech APAC communities, the Cambodian Tech & startup community and foster business opportunities.
Who was there?
19 startups pitched their business ideas and a further 20 had the opportunity to present their company with a booth.
Over 350 people participated in the event, with about 15 startups from the ASEAN (Singapore, Laos, Malaysia, Vietnam, Thailand, Myanmar) joining. The majority of the French Tech Phnom Penh members were also present.
H.E. Dr. Chea Vandeth, the minister of the Ministry of Post and Telecoms (MPTC) also attended and delivered a speech highlighting the new digital trajectory Cambodia is undertaking.
Other government officials both from France and Cambodia were also present. This gathering was the first tech event hosted in Cambodia since the beginning of the pandemic.
Some key highlights
During the event, government officials and tech leaders emphasized the importance of bringing digital technology to Cambodia. Several incentives are already in place to facilitate the coming of foreign expertises and investments (ease of immigration, taxes incentives, possibility of foreign capital ownership, etc). Belaws is at the forefront of this initiative. A digital legal platform totally aligns with the 2022-2035 digital policy the government has developed.
Throughout the day, speakers and presenters highlighted the success of market leaders like Nham24. The delivery company is growing profitably and raising $10m for their expansion plans. GroupIn, a leading digital media and e-commerce group has successfully expanded outside Cambodia and raised $10m bringing in institutional investors like True Group; and iCare Benefits, a BNPL provider which has just announced a $15m funding round, making it the largest funding round for a Cambodian startup.
As Cambodia’s technology ecosystem is growing, the need for companies to raise capital is also increasing. A panel discussion on venture capital investment in the Kingdom concluded the gathering. Three seniors and partners from different firms shared their expertise to the public.
For Cambodian startups, the opportunity lies in the fact the country remains a frontier market. So companies being the first to disrupt a specific segment benefit from a first mover advantage. The general macro indicators like growth rate, demographics, and regulatory environment are also strengths for startups in the country. Those factors are important to investors as they need to be able to project themselves when making investment decisions.
In conclusion
This tech gathering really marked the beginning of the post-covid era in Cambodia. Belaws has established a growing presence in the country. The company’s team of experts can assist you to tap into the Cambodian market. Whether it is for market entry services, incorporation, or general legal services, our team of experts can support you in the Kingdom.
Please contact Clément Barbier at [email protected] to learn more about Belaws’ services in Cambodia.
Up to 1 hour consultation on general legal and business matters in Cambodia.
If some research is necessary to reply to your questions, our expert will check and revert to you with any complementary elements by email.
This consultation is only for new cases.
Legal consultations are handled by expert lawyers in the relevant field of practice in fluent in English.
Up to 1 hour
Web conferencing details provided upon confirmation
$150 USD
We are open:
Monday – Friday
9 am – 6 pm (UTC+7)
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