Confluences Asia, a local business development and consulting firm, launched its first startup in Cambodia yesterday as part of an incubation program aimed at supporting European businesses in the region by providing human resource, marketing and legal support.
The company said in a press release that it launched Wendgo, a new digital provider of cloud-based point-of-sale (POS) services targeted at retail and the food and beverage businesses.
The startup was the first to emerge from Confluences Asia’s incubation program, which aims to nurture SMEs that are focused on innovative strategies with high local impact.
“Through our consulting services we are bringing in European technologies and skills to the local market, hoping in the future that we will be able to bring top quality Cambodian services and products into overseas markets also,” said Soreasmey Ke Bin, managing director of Confluences Asia.
Confluences Asia is currently incubating six other startups, according to incubator coordinator Theary Hé.
“One is very advanced, and we will be incorporating it within a few weeks,” she said. “There are two others at an advanced stage and we can expect them to raise funds in the first few months of this year.”
She added that while all the foreign startups are currently managed by Cambodians living abroad, “we hope to get local entrepreneurs to join us soon”.