In a resolute commitment to catalyzing Sri Lanka's vibrant Startup Ecosystem, the Information and Communication Technology Agency (ICTA) of Sri Lanka proudly announces the renewal of its partnership with Brandix Apparel Limited for the second consecutive year. This strategic alliance aims to significantly bolster startups by providing essential funding and fostering their swift expansion. The primary focus is to fuel technological entrepreneurship within Sri Lanka, propelling its future digital economy.
Under the umbrella of the Spiralation Startup Incubator, early-stage tech entrepreneurs receive comprehensive support. The initiative encompasses seed funding, specialized training, networking opportunities, and avenues for business promotion on both local and international fronts.
The memorandum was signed by Professor Malik Ranasinghe, Chairman of ICTA, and Arjuna Sirinanda, the Managing Director of Fortude and Director – IT/Digital of Brandix, on October 30, 2023.
As the national host of Global Entrepreneurship Week Sri Lanka, running from November 13th to 19th, ICTA remains committed to driving entrepreneurial endeavours within the country.
ICTA has embraced a comprehensive, data-driven strategy for the development of the startup ecosystem, providing support to entrepreneurs at every stage of the startup lifecycle, from ideation to growth. The Spiralation initiative has been instrumental in aiding over 150 startups to date. Many of these startups have not only expanded their reach to more than 30 countries globally but have also collectively contributed to the creation of over 1,000 job opportunities. Brandix Apparel Ltd. has committed to funding a total of 10 million, in addition to providing expert guidance, training, and mentoring for selected Spiralation startups. This partnership aims to offer vital financial support to burgeoning startups in their journey towards development and growth.
Professor Ranasinghe expressed, "ICTA stands as the foremost entity driving the nation's digital transformation. Under the Digital Economy Pillar, our goal is to promote, encourage, and back technology-focused startups and innovation in Sri Lanka, aiming to establish 1,000 startups by 2025. We are thrilled to join forces with Brandix, whose support will be instrumental in realizing this vision for our nation's advancement."
In response to the memorandum, Mr. Sirinanda highlighted, "At Brandix, our digital infrastructure is pivotal in delivering innovative solutions to our customers. Continuously exploring how technology can enhance our operations to offer superior products at competitive prices is our ongoing commitment. With this in mind, we are pleased to enter into a collaborative partnership with ICTA, a like-minded governmental organization. Our joint efforts will serve to incubate the ideas of Sri Lankan technology entrepreneurs, potentially fostering the creation of world-class digital solutions."
Eng. Nalin Karunasinghe, Board Member of ICTA, Mr. Mahesh Perera, CEO of ICTA, Mr. Oshadha Senanayake, COO - Digital Transformation at Brandix, along with officials representing ICTA and Brandix Apparel Limited, and a group of technological entrepreneurs were also in attendance for this significant occasion.