A memorandum of understanding (MOU) between Techo Startup Center (TSC), a public administrative institution under the Ministry of Economy and Finance (MEF), and IG Tech Group (IG Tech) has been signed to work together on matters of mutual commercial and research and development interests in order to promote Cambodia’s startup ecosystem. IG Tech is a group of fast-growing technology and innovation companies.
The aim of the MOU is to jumpstart and expand innovative capabilities for Cambodia’s digital transformation by accelerating the development of products and solutions that could enhance the growth potential of the local startup community.
Under the MOU, TSC will introduce IG Tech’s solutions and projects to TSC startups and specific digital projects. IG Tech will also provide technical inputs and advisory to TSC’s general programmes, as well as partnership opportunities to TSC startups and specific projects.
TSC and IG Tech will also collaborate on the launch of TSC’s Reverse Innovation (RI) programme by leveraging IG Tech’s technological and professional expertise and providing relevant mentoring and coaching to select participants.
Taing Nguonly, executive director of Techo Startup Center, said that running RI is the first step for this partnership. This initial step will help participants in the programme by delivering continuous mentorship and the fundamental supports they need to build their products.
Nguonly noted, “IG Tech is well known as a fast-growing company. Participants will benefit by exposure to the company’s technical know-how, entrepreneurial mindset and working culture.”
IG Tech Group Chairman and President Kim Puthkiry welcomed the collaboration. He made special note of the value in providing mentoring and coaching based on its fintech and banking solutions integration, implementation and digital platforms development expertise.
Puthkiry remarked, “We bring to the table the expertise of both our IG Tech centres of excellence as well those represented by our joint venture partners from across the globe in the US, Europe, India, Singapore, Malaysia and elsewhere. We firmly believe that this collaboration will provide strong support to TSC programme startups and projects and make a great contribution to the Kingdom’s digital transformation.”