In this paper I investigate the emerging entrepreneurial ecosystem of tech-based startups in Phnom Penh, Cambodia. A growing number of tech-based startups is arising in Cambodia’s capital alongside business incubators, accelerators, startup competitions, and government initiatives to foster tech-based entrepreneurship. These kinds of organizations and their initiatives are the necessary components of an entrepreneurial ecosystem. It is believed that a well-developed entrepreneurial ecosystem causes growth and development through new venture creation. Building on a three-month period of ethnographic fieldwork in Phnom Penh, I zoom in on the experiences of tech-based entrepreneurs and other key players in the ecosystem during the process of emergence. The paper argues that the members of the entrepreneurial ecosystem create a collective identity based on their belonging to a ‘young generation’ and perceived differences with an ‘old generation’ of entrepreneurs. In Cambodia, vast differences can be identified between the ‘old generation’ that grew up during and the Khmer Rouge regime (1975-1978) and its aftermath, and the ‘young generation’ that grew up in times of relative peace and prosperity. Entrepreneurs and other key players of the ecosystem identify certain group traits that are in stark contrast with the group of older Cambodian entrepreneurs. As such, the paper argues that the creation of a strong collective identity plays an important role in the emergence of entrepreneurial ecosystems.