Lanka Accelerator debuts in Sri Lanka with backing by award winning India Accelerator

Lanka Accelerator Founding Partner Chanithi Gunasekera and Kaleidoscope Chairman Santosh Menon 

India Accelerator Founder and CEO Ashish Bhatia

Kaleidoscope Ltd., has announced the launch of Lanka Accelerator brand in Sri Lanka, powered by India Accelerator (IA) which was adjudged the Best Accelerator in India by Start Up India. Lanka Accelerator’s

agreement with India Accelerator is to help support its design, development and success.

India Accelerator is part of GAN (Global Accelerator Network). The GAN is a ‘By-Invite’ network of over 80 of the most highly respected accelerators on six continents and over 100 cities around the world. To date, the network has helped 3,200 companies receive over $ 4.8 billion in funding and create 21,000 jobs globally.

Kaleidoscope Ltd., Chairman and Lanka Accelerator Founding Partner Santosh Menon said: “I am truly delighted to announce the launch of Lanka Accelerator in Sri Lanka. There is no better time than this to launch such an enterprise. There is a crying need to unleash the entrepreneurial spark among the young and Lanka Accelerator aims to do just that.”

“This is an unprecedented opportunity for corporate Sri Lanka to seek solutions to any problems that might enhance their efficiency and productivity - with the competence and expertise of India accelerator on offer. We will combine to offer unique customised solutions to the challenges Sri Lankan corporates face. The combination of high-quality Sri Lankan tech expertise combined with the best start-up solutions from India will add tremendous value to local businesses,” he added.

Lanka Accelerator Founding Partner Chanithi Gunasekera said: “There are many young people who have great business ideas but give up because they can’t see the way forward in terms of technology support, legal advice, marketing inputs, financial planning or due to lack of investment. We would like to bring the entire ecosystem to Sri Lanka to give confidence to future unicorns that anything is possible.” India Accelerator was adjudged the best accelerator in India - which in the last five years has redefined elements of the start-up ecosystem in India. India Accelerator Founder and CEO Ashish Bhatia said: “We are excited to power Lanka Accelerator with our expertise and competencies. The aim is to open all the services that sit within the India Accelerator Multiverse. Start-ups can have a powerful positive impact on the society at large. From creating jobs, to providing purpose, to creating wealth, to improving GDP. Sri Lanka’s start-up ecosystem is in its nascency and there are a lot of upsides for everyone involved. Lanka Accelerator, powered by India Accelerator, will offer incubation, mentorship, tech and educational support through our labs, and access to a cohort system to accelerate ideas from infancy to full development. We will also bring iAngels, our network of over 1,500 global investors to support Sri Lankan Start-ups through investments.”

IA Verticals includes, Direct to Customer, Deep Tech, Pulse-Health Tech, Hypersonic-Web3 and Blockchain, Cipher - Cyber Security, iAgri – AgriTech, B2B SaaS, Sports, Media and Entertainment, Social Labs – Impact. It has achieved a 25x Growth in four years empowering 140+ start-ups with a $ 350 million valuation of IA Portfolio Companies and has created 3,500+ Direct / Indirect Jobs. IA multiverse includes, iAngels-Angel Network, IA Labs-Education Services, IA CEP-Campus Engagement Program, IA CAP-Corporate Accelerator Program and iAspire-Female Founder’s Program.