Digital Economy

Technology has reshaped businesses, industries, and economies. Digital economy describes the range of economic and social activities that are enabled by information and communication technologies (ICT). It also presents a continual flux in the texture of the private sector; as business models become driven by data their economic structures change, industry boundaries blur, and the very basis of competition evolves.

The current Digital Transformation Landscape of Sri Lanka is fertile for opportunities that can create a systemic transformation, consolidating and improving upon existing efforts undertaken by all sectors. It is vital that the country focuses its attention on harnessing the powers of innovation, digital technologies and the ingenuity of young people (youth) to galvanize a steadfast path­way to achieving her development targets. The digital economy will bring new possibilities and opportunities as it transforms businesses, industries, jobs and lifestyles.

Therefore, ICTA’s Digital Economy Strategy looks to utilize existing programmes and all relevant partners in the ecosystem to develop and implement an integrated Digital Economy transformation in Sri Lanka that will pave the way for a thriving and effective digital economy, with higher operational efficiency, lower costs and better services and out­comes for its citizens.

Digital Economy Milestones

Technology Industry Development

The Industry Development program (IDP) of ICTA has its primary role of being a catalyst of change in ensuring the future readiness of the technology ecosystem. The program has acted with foresight and have designed projects localized to Sri Lanka to align tech ecosystem with global trends. Overall objectives are to improve competitiveness in IT-BPM industry while creating IT-BPM related jobs across all sectors. IDP aims to improve export growth through innovation and entrepreneurship, improve supply of skilled professionals to satisfy growing IT-BPM market growth, establish a strong start up ecosystem in Sri Lanka and to create awareness and Positioning Sri Lanka IT/BPM sector globally.

Next Wave of Technology Industry Growth

Technology Industry Development Goals

 

  • Reach $ 3Bn of annual foreign exchange revenue generated via knowledge services sector and electronics sector by the end of 2024
  • 1000 tech and tech enabled start-ups in operation by the end of 2024
  • A total of 700 technology companies (IT + BPM + Electrical & Electronics) in operation by the end of 2024
Five Year Strategy

Objectives

 

  • Increase in Foreign Direct Investment (FDI) and new tech companies via FDI promotion and facilitation
  • Increase in Direct Exports of Existing Tech Companies
    • Increasing Competitiveness
    • Provide overseas market opportunities
  • Promotion and Enhancement of the Start-up Ecosystem
Export Technology Industry - Status Quo

Programs and Initiatives managed

 

  • LEAP IT SME Export Readiness Program
  • Spiralation Tech Startup Support Program
  • Disrupt Asia Startup Conference and Innovation Festival
  • StartupSL platform : Directory for Sri Lanka Technology Startup Ecosystem
  • Startup Genome Global Startup Ecosystem Report Survey : Startup Ecosystem Branding and in-Depth Assessments
  • Imagine IF Entrepreneurship Bootcamps

Initiatives Supported

www.islandofingenuity.com

Technology Diffusion

Tech Diffusion

Technology Diffusion Goals

 

  • Technology adoption in core business which increases efficiency and productivity for a total of 750 SMEs by the end of 2024
  • 500 new technology Start-ups in operation as a result of Technology Diffusion strategy by the end of 2024
  • Sri Lanka’s competitiveness ranking to have increased by 30 compared to the baseline in 2019 (WEF)

 

Objectives

 

  • Creation of New Technology Products via Research and Development
  • Technology Diffusion to Local Businesses and Packaging for Export
  • Business Transformation through Technology Adoption

Programs and Initiatives managed

 

  • Sri Lanka Go Digital Digital Adoption by SME’s

 

Capacity Building

An empowered workforce

Capacity Building Goals

 

  • 300,000 ICT workforce employed in the multiple sectors, with a supply of 150,000 skilled individuals
  • 500 Government CIO’s deployed to various Government organizations
  • 75% Citizen IT Literacy achieved
  • 100% Public Sector IT Literacy achieved

Objectives

 

  • Increase Output of Employable Recruits to Technology Sector
  • Increase Percentage of Females Selecting ICT Sector as a Career Choice
  • Increase Brain Gain
  • Increase in Usage of Technology by Citizens
  • Government CIO Development
  • Increase in Usage of Technology by Government Staff
  • Development of a National Skills Platform

Programs and Initiatives managed

 

  • Educate to Innovate
  • National IT-BPM Workforce Survey 2019
  • Quality Coder

Regional Cluster Development

 

Five regional clusters are to be set up namely in Northern, Central, Southern, Western and Eastern in close proximity to an existing university. Each cluster includes a cohort of Technology education institutes, Technology companies, shared working space with incubation facilities, a government arm and a technology diffusion cell. ICTA will establish a liaison office within the cluster.

Technology Clusters and Education Clusters

Regional Cluster Development Goals

 

  • Build 5 Regional Tech/ Edu Hubs which consist of a TD cell
  • Facilitating the setting up of regional arms of a minimum of 8 main local/ international IT/BPM companies in the clusters
  • Facilitate 750 selected non-tech SMEs to use technology in their core business
  • Facilitate setting up 5 IT education institutes with international standards (1 per cluster)
  • Facilitate the implementation of basic digital literacy programmes for the age group (15 – 60)
  • Facilitate setting up 5 startup hubs with necessary infrastructure for startups and innovation

Objectives

 

  • Assessing the readiness of each cluster
  • Regional infrastructure development
  • Decentralization of main IT companies
  • Creation of education hubs
  • Technology diffusion
  • Building a knowledge and support hub for all business / IT related needs
  • Instilling entrepreneurship and innovation
  • Technology adoption by citizens
  • Increasing digital literacy in the country
  • Career guidance for students
  • Capacity building for government staff
  • Recognition

 

The regional development unit will be the managing arm of all the regional clusters and will be closely liaising with Technology Industry Development, Technology Diffusion and Capacity Building units that will act as a vehicle to extend the national level development through digitization to regions of the country. All objectives will directly aid to ensure that each cluster has an active eco-system which will support the implementation of the Digital Economy strategy.

Our Initiatives

  • Spiralation - Tech Startup Project-logo
  • SL ITBPM Destination - Buusiness Promotion Project-logo
  • FutureCareers - Career Guidance Logo
  • startup-sl-black
  • Disrupt
  • ImagineIF-removebg
  • E2I logo-01
  • SL Go Digital Logo-01
  • LEAP LOGO

INVESTMENT & EXPORT PROMOTION

This initiative is endorsed by destination branding models adopted successfully within the Tourism industry and by countries such as Singapore, India, South Africa, France, Germany and Argentina etc

Read More

Tech Startup Support Program (Spiralation)

This project is targeted towards developing new technology based business ventures in the country. The program provides everything a business or entrepreneur needs towards starting up and successfully running a business.

Read More

Projects

Contact

News

Read All

October 14, 2020

A white paper for Startup Development

The Digital Economy Strategy makes it an imperative to create an enabling environment for startups to thrive. The Information and Communication Technology Agency of Sri Lanka ...
Top