Cambodia Startup Advisers has just announced the establishment of a first professional service alliance to serve as a supporter for tech community in the country, as reported by The Phnom Penh Post.
The alliance is made of three well-established advisory firms and aims to provide legal, tax, and intellectual property solutions to Cambodian startups as well as their investors.
The idea behind the alliance is essentially to provide ease when setting up a startup business.
“Building a successful startup is hard. A startup founder has to set up a company, hire employees, pay taxes, and register a trademark. Therefore, being an ally to them will help these startups get to where they want to be faster“ said Sreypeou Chaing, Attorney at Law and Managing Partner of alliance member CSP & Associates.
Cambodia Startup Advisers is a firm that give advice on legal, tax and intellectual property. With the focus on startups, it will support the tech community in Cambodia. The ecosystem recently experienced a high with a total of 100 new businesses launched covering multiple sectors like fintech, ecommerce, digital media, and logistics.
“The Cambodian startup ecosystem is still very young, but growing exponentially. Through this alliance, we hope to support tech-based businesses to reach their full potential,” said David Haskel, director of Cambodia Startup Advisers and alliance-member Abacus IP.
The setting up of the alliance is a nod to the findings of a recent survey that showed over 60 per cent of founders have difficulties in accessing information on legal and tax advice for startups. This situation directly affects the spirit of entrepreneurship, in addition to the lack of business service that helps startups.
Bringing decades old of experience into the alliances, the members are positive that the move can help guide young startups in Cambodia. The activities of the alliance will include giving advice, publishing material, and holding informational events.