Wednesday, September 28, 2022

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Innovate Lanka assists to accelerate new startups and SMEs

Innovate Lanka, a national initiative that brings all the start-up and SME ecosystem partners together, has announced its latest initiative to select, fund, mentor and accelerate budding start-ups and SMEs. 

The selected applicants or entrepreneurs will be called for a pitching and Q&A session on 2 September and the finalists will be selected to participate at the Innovate Lanka 2022 Demo Day scheduled for 9 September at Elegance, Colombo.

This competition aims to fund early-stage start-ups and SMEs those clearly solve a problem with an innovative solution for a large addressable market. Innovate Lanka is open to any start-up across all sectors island-wide in all three languages.

Applications are accepted until 30 August and those interested can submit duly completed applications to

The winner of Innovate Lanka 2022 will enter the (Global Entrepreneurship Network) GEN-Global Program, where they will take part in the Entrepreneurs World Cup 2022 Regional program. 

At the same time, all entrants will have the opportunity to secure funding via LAN and, its extensive global network of international Angel Investors and VC (Venture Capital) firms. 

The program will have a number of business domain and tech experts to mentor, accelerate, and assist them with go-to-market (GTM).

Innovate Lanka is a platform, that assists start-ups or SMEs with an innovative idea helping them with funding, accelerating, and mentoring until maturity or exit.

This is an initiative of the Council for Start-ups (CFS) of The Ceylon Chamber of Commerce (CCC), Lankan Angel Network (LAN), and Sri Lanka Association for Software Services Companies (SLASSCOM). 

Innovate Lanka is inclusive for all stakeholders who work and operate in the start-up and SME ecosystem domain. Information and Communication Technology Agency (ICTA), Export Development Board (EDB), and Industrial Development Board (IDB), being the National Partners; and the Council for Start-ups of the Ceylon Chamber of Commerce is the Industry Advocate.

The other stake holders are  Lankan Angel Network, Indian Angel Network, Global Business Angels Network, BOV Capital, Venture Engine and nVentures being the Investment Partners; KPMG, and PWC being the Knowledge Partners, SLASSCOM, and Sri Lanka @100 being the Ecosystem Partners; Wijeya Newspapers, Roar Global, The 87 Agency, and LMD being the Media Partners; Are We Legal, and Heritage Partners being the Legal Partners; and The American Chamber of Commerce in Sri Lanka (AMCHAM-SL) being the Business Network Partners.

; Venture Frontier, Hatch, Lanka Accelerator, Good Life X, Centre for SMEs of the Ceylon Chamber of Commerce, and Youth Business Sri Lanka (YBSL) being the Accelerator and Incubator Partners for this initiative. 

These entities have joined together to facilitate Sri Lankan entrepreneurs in accessing opportunities that will make them truly competitive in global markets.

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