Brandix Apparel Ltd. signed amemorandum of understanding with the Information and Communication Technology Agency (ICTA) of Sri Lanka recently. The strategic partnership would significantly impact startups by funding and encouraging rapid scaling. Furthermore, the partnership will drive tech entrepreneurship in Sri Lanka through the startup ecosystem, for a future digital economy.
The Spiralation Startup Incubator provides support for early-stage technology entrepreneurs. The programme includes seed funding, training, networking sessions, and business promotion opportunities locally and internationally.
The Spiralation initiative has supported over 120 startups todate. In addition, several startups have expanded internationally and collectively contributed towards creating over 1,000 jobs. To support the Spiralation Incubator, Brandix Apparel Ltd. would fund ten selected Spiralation startups. Furthermore, the partnership would financially support early-stage startups develop and grow their businesses during the current economic crisis.
Commenting on the partnership, Mr. Arjuna Sirinanda, Director – IT/Digital, Brandix Apparel Limited and Managing Director, Fortude said “At Brandix, our digital platform is critical to our ability to deliver inspired solutions to our customers. We constantly look at how technology can support our business to become better and faster to offer the best products at the right price.”
‘’In this backdrop, it gives us great pleasure to enter into this collaborative and mutually beneficial partnership with ICTA; a likeminded government organization. Our partnership will help Sri Lankan technology entrepreneurs incubate their ideas and potentially create world class digital solutions.”
Professor Malik Ranasinghe, Chairman ICTA, stated, “ICTA is the apex body for driving digital transformation in the nation. The Digital Economy Pillar of ICTA has the mandate to promote, encourage and support technology-related startups and innovation within Sri Lanka, to create 1,000 startups by end of the year 2024. We are delighted to partner with Brandix, who would support us in realizing this vision for the betterment of our nation.”
Mr. Suresh D. de Mel, Acting Managing Director of Global Entrepreneurship Network, Sri Lanka, stated, “I am delighted to celebrate this occasion during Global Entrepreneurship Week Sri Lanka in support of Sri Lanka’s Startups. Startups are generally weak in financial literacy and struggle with access to funding. However with ICTA to help with financial management and Brandix providing funding, a startup will undoubtedly receive the necessary boost to scale and succeed as a viable enterprise. On behalf of the Global Entrepreneurship Network Sri Lanka, we hope this landmark initiative inspires more corporates to collaborate and strengthen Sri Lanka’s Entrepreneurial and Startup Ecosystems”.