Over the past decade, Sri Lanka has developed a budding startup ecosystem. Initiatives to support startups are a dime a dozen. However, if you were to return in 2010, you’d find none of this. The lone exception was ICTA’s Spiralation, which was launched in June that year. At the time, it was the only startup support initiative in the country. Even when we first met the team behind it 3 years later in 2013, we felt it was, “a program of a rare breed in Sri Lanka” at the time.
The goal of Spiralation is simple. It has primarily been focused on uplifting the national economy and improving living standards. To do so, the initiative by ICTA serves as an accelerator for tech startups. Like other accelerators, it offers them funding, mentors, training programmes, and anything else a startup needs to grow.
Spiralation is an accelerator by ICTA, offering tech startups with funding and support to help them grow. This support includes training sessions like the above (Image credits: Spiralation)
Currently, Spiralation is being funded by the Ministry of Industrial Exports and Investment Promotions. Having identified ICTA as a leading stakeholder to implement IT-BPM initiatives, the 2 institutions have formed a partnership. The goal of which is to strengthen the IT-BPM sector and to streamline the Sri Lanka National Exports Strategy (NES).
Today, almost 10 years later, Spiralation has supported 70 local startups in various fields develop into large corporates. Granted, not every startup Spiralation funded succeeded. But look through the list and you’ll find several notable success stories. One being Arimac, which has built offices across the globe and a bold variety of products. Another is Loops Solutions, which itself has grown and expanded beyond Sri Lanka. The list also includes Bhasha, that built the popular Helakuru and PayHere.
The founders of the latest batch of startups accepted into Spiralation (Image credits: ICTA)
Needless to say, Spiralation has maintained a strong track record. Recently, the initiative announced its latest batch. 16 startups were accepted into the programme. All of them were offered access to an all-inclusive set of training programmes and guidance by a set of mentors. Additionally, 12 of these startups also received Rs. 1.5 million of funding.
These startups that were accepted into the programme are:
From food delivery to robotics to ed-tech, there’s an interesting variety of startups in the list. But which of them will grow into established corporates?. It’s a tough question. Granted, not every one of them may succeed. After all, startups are born and die every day.
Nevertheless, after 10 years, Spiralation has some notable success stories. All of which are definitely contributing towards the growth of the national economy as the programme intended. And with that success comes valuable expertise that this latest batch of companies can tap into in order to fuel their growth. If you’re running a startup and curious to learn more, check out the Spiralation website here.
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