Cambodia Startup Advisers announced in a press release the launch of the first professional service alliance dedicated to supporting the fast-growing technology start-up industry in Cambodia.
The alliance of three well-established advisory firms will provide innovative and forward-thinking legal, tax and intellectual property solutions to Cambodian start-ups and their investors.
“Building a successful start-up is hard. A founder has a long list of things to do: from setting up a company, to hiring employees, paying taxes and registering a trademark,“ said Sreypeou Chaing, Attorney at Law and Managing Partner of alliance member CSP & Associates.
Cambodia Startup Advisers is an alliance of legal, tax and intellectual property advisory firms, serving the 360-degree needs of tech start-ups in Cambodia.
‘Very young’ start-up scene
The Cambodian start-up scene has seen the launch of over 100 businesses in fintech, ecommerce, logistics, digital media and other sectors, as well as a growing number of financing deals in recent months, according to Startup Advisers.
“The Cambodian start-up ecosystem is still very young, but growing exponentially."
“Through this alliance, we hope to support tech-based businesses reach their full potential,” said David Haskel, director of Cambodia Startup Advisers and alliance-member Abacus IP.
According to a recent survey, over sixty per cent of founders said information on legal and tax advice for start-ups was difficult or impossible to access, the press release read.
Impediment to entrepreneurship
Furthermore, a lack of adequate business services for start-ups was identified by the World Bank as one impediment to entrepreneurship in Cambodia.
Cambodia Startup Advisers aims to address this need by advising founders, publishing material and holding informational events on a range of current legal, tax, and intellectual property topics specific to start-ups, according to the release.
Junro Binag, managing director of alliance-member Donasco & Co, said with decades of experience, the Cambodia Startup Advisers team can help guide the way.
“Ignorance of the law is no excuse, yet in Cambodia the law and current practice is often too hard to access for non-specialists,” he said.