Sri Lanka@100 opens new application round for advisory services for mid-market firms

Tuesday, 30 November 2021 02:18 - - {{hitsCtrl.values.hits}}

Sri Lanka@100, a private sector-led business development platform supported by the United States Agency for International Development (USAID), announced its third round of applications for mid-market companies looking for business advisory services to accelerate revenue growth, optimise internal operations, access new markets, and attract smart capital.

Mid-market firms registered as companies in Sri Lanka with annual revenues of Rs. 50 million and above are eligible for selection. The selection process, including application reviews, interviews, and pitch meetings by the shortlisted candidates, is expected to take place in February 2022 with the final onboarding of selected companies scheduled for March 2022. To apply, visit srilanka100.lk from 15 November 2021 to 15 January 2022.

Speaking on the latest onboarding cycle, Sri Lanka@100 Co-Founder and Stax Managing Director Dr. Kumudu Gunasekera stated that this round comes at a crucial time in the country’s economic journey.

“Sri Lanka’s economy and businesses have demonstrated admirable resilience through the worst of the pandemic, as they have through many previous challenges. The coming months will be a time not just for recovery, but to take bold steps to drive growth. This is why Sri Lanka@100 is focused on assisting mid-market firms to implement growth strategies. We are industry agnostic and to date, we have onboarded 13 companies. In our screening, we mainly evaluate the potential to scale up and the ambition of the senior leadership of the companies that apply to join our platform.”

“Jump-starting economic growth, especially with COVID-19 restrictions, is a fundamental challenge for businesses worldwide,” said USAID Mission Director Reed Aeschliman. “Through initiatives like Sri Lanka@100, USAID helps mid-market firms to be robust and resilient, so they can effectively navigate current challenges to increase profits and employment.”

Thirteen local mid-market firms representing sectors ranging from technology to agriculture have been onboarded over the past year by Sri Lanka@100. Each firm receives high-calibre advisory services in areas including accounting, finance, marketing, legal, technology, and management to help scale-up their businesses.

Sri Lanka@100 is a private sector-led business development platform that was launched in 2020 with support from USAID. This initiative works with high potential mid-market firms to optimise internal operations, enhance product portfolios, access new markets, and attract capital to help Sri Lanka become a high-income country within 100 years of independence.