Fintory receives a check for 14 million riel ($3,455) as first-place winners of the Technology Innovation competition on October 19. Industry ministry
The second season of the Technology Innovation Competition, organised by the Cambodia University of Technology and Science (CamTech) and supported by Khmer Enterprise (KE), concluded on October 19 with a ceremony presided over by Minister of Industry, Science, Technology and Innovation Hem Vanndy.
The event brought together 114 teams of students from 20 universities across Cambodia, all competing to showcase their technological innovations and entrepreneurial skills, according to the ministry.
The competition culminated with the announcement of the top three teams. Fintory took first place, earning a prize of 14 million riel ($3,455), followed by PAWhere in second place with 10 million riel ($2,468), and Voat in third place, receiving eight million riel ($1,974).
The event highlighted the growing importance of Cambodia’s tech startup ecosystem and its potential to drive the country’s economic and technological development.
In his closing remarks, Vanndy underscored the transformative power of innovation in helping the country shift from being a consumer of technology to becoming a producer.
“The growth of tech startups is a new catalyst to elevate national innovation levels and plays a crucial role in the journey toward achieving Cambodia’s vision of a knowledge-based socio-economic foundation,” he said.
Vanndy also encouraged Cambodian tech startups to think beyond domestic borders and take advantage of regional and global opportunities.
"Tech startups should have a broad outlook on the market, exploring opportunities not only domestically but also regionally and globally. The ASEAN market, with its 680 million people and a combined GDP of $4.2 trillion, offers significant potential," he noted.
According to the ministry, the competition showcased the increasing vibrancy of Cambodia’s tech startup ecosystem, which is expected to play a key role in modernising industries, creating jobs in advanced technology sectors like artificial intelligence and data analytics and supporting the growth of small and medium-sized enterprises (SMEs).
