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. Further, the program also organizes hackathons targeting university students to enable idea generation and university visits to promote entrepreneurship and identify budding entrepreneurs with innovative ideas.
This program provides seed funding for technology entrepreneurs for developing start-ups. Ventures forming a starting up or in very early stages of development will be targeted (less than 2 years in operation falling under the category of Small Enterprise). The award would provide a subsidy of upto 75% of project cost covering infrastructure, training, business development mentoring including both technical and managerial competencies which are essential for the growth and sustainability of a company and all third party costs or to a maximum of LKR 750,000. It is expected that a minimum of 10 (5 per round) awards will be made available every year. This will be dependent on the quality of the applications received. A competitive, multi stage selection process which will test both technical and business capabilities will be carried out.