Cambodia & Economy: Wing Bank and Techo Startup Center unveil tech startup award winners

With Wing Bank’s support, Techo Startup Center proudly announces the winners of Reverse Innovation Cohort 4, celebrating their innovation and entrepreneurial spirit in tackling key challenges in the community.

Techo Startup Center has successfully concluded its Reverse Innovation Program Cohort 4, recognizing 5 standout teams for their innovative startup solutions aimed at addressing community pain points identified by stakeholders such as corporate companies and associations

“Reverse Innovation thrives on strong partnerships,” says H.E. Dr. Taing Nguonly, Executive Director of Techo Startup Center. “Wing Bank’s unwavering support enables us to provide startups with the resources and opportunities they need to drive innovation and deliver a meaningful impact. We are proud to see the progress and achievements of this cohort, which highlights the growth of Cambodia’s startup ecosystem.”

Supported by Wing Bank (Cambodia) Plc, Reverse Innovation Cohort 4 is an accelerator program primarily focused on FinTech that invites corporates and industrial leaders to share their challenges with startups to develop services or products that could provide effective solutions to these challenges.

“Some corporate companies also start their journey from startups,” said Bunthe Hor, Deputy CEO of Wing Bank. “Supporting Reverse Innovation is a means to cultivate more startups in Cambodia with the potential to grow into corporations in the future, using their expertise to address community challenges and create more job opportunities.”

This year, 20 startups competed in this intensive accelerator program, and 5 emerged as the standout winners, receiving a total of 128 million Riel as the equity-free investment during the final Demo Day:

• Mylekha–The Top-Performing team received 40 million Riel for its scalable tools, which are designed to streamline financial management for SMEs.

• Krubkrong – The Special Mention team secured 28 million Riel for its inventory management system for small businesses with ready-to-use storefronts.

• Snaprec, Jaytech, and Quanta were each recognized as top finalists and received 20 million Riel. They showcased their innovative solutions in AI-powered bookkeeping, personal finance management, and financial connectivity platforms.

Since its launch in 2021, the Reverse Innovation Program, organized by the Ministry of Economy and Finance and Techo Startup Center, has consistently catalyzed innovation. In collaboration with Khmer Enterprise, the Ministry of Industry, Science, Technology & Innovation, and the Association of Banks in Cambodia, the program continues to provide startups with a platform to deliver impactful solutions.

Wing Bank’s involvement extended beyond invaluable sponsorship funds, as Wing Bank actively participated as a judge during the winner selection process. This further solidifies its commitment to fostering innovation and entrepreneurship within the community.

Wing Bank, renowned for its commitment to social responsibility, has been a steadfast partner to Techo Startup Center, providing vital financial support and expertise that have enabled transformative programs to support the startup ecosystem, including the Reverse Innovation program from Cohort 1 to Cohort 4, the Digital SME Accelerator in 2021, the Digital Platform Accelerator in 2022 and 2023, Turning Hackathon Cycle 6, and the Startup Ecosystem Trip to Vietnam in 2024.