CCC celebrates 174th anniversary with Spark iT SMEs

The Ceylon Chamber of Commerce (CCC), legendry institution in the Asia Pacific region, will be reaching its 174th milestone in completing its long standing exemplary service to the business community in Sri Lanka on 25 March.

Coinciding with a view of empowering budding ICT entrepreneurs in Sri Lanka, the Ceylon Chamber of Commerce will be hosting the ‘Spark iT’ award ceremony.

When CCC was founded on 25 March 1839, under the British Rule, the coffee industry took precedence over the current prime commodity ‘Tea’ which has now excelled as the leading export commodity in Sri Lanka.

The agriculture based services provided by the CCC to its members, gradually elevated to value added services. Over a period of years, CCC playing a catalytic role in the development of the business sector changed its focus on identifying key issues to assist in the development of strategic plans, to meet new challenges and opportunities.

With the close rapport maintained with the Government sector, the CCC continued to strengthen its role as a channel between the Government and the Private sector. CCC, being the first Chamber to be established in Sri Lanka, is the prime mover of the Chamber movement of the country.

It was also the first Chamber to be represented in the Senate and House of Representatives in the days of Ceylon, first to be accepted as an affiliate member of Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) in 1983.

A few other services which were the first of its kind to be introduced by the CCC are the issuance of certificates of origin in 1925, introduction of e-Cos, conduct of commodity auctions (tea, rubber, spices and allied products) from 1894, gem auctions in1980, services provided by measurers/surveyors and assessors, arbitration/conciliation and mediation services.

The first Sri Lankan export exhibition was organised by the CCC in 1973, which initiated the first export awards scheme in association with the then export promotion secretariat, formation of bilateral business councils in 1979, launching of CSR awards in 2004, (Global Standard One) GS1 which is the world’s most accepted standard for supply chain management and bringing Bar-coding standards to Sri Lanka.

GS1 standards in Sri Lanka

CCC is the sole authorised body in Sri Lanka to operate the GS1 Standards system. Moreover, CCC has the unique feature of a confederation of chambers of commerce and industry, trade associations, regional chambers, employer organisations and bilateral business councils in Sri Lanka.  The chamber claims this status having formed alliances with 20 regional chambers, 38 trade/product and service associations and 21 bilateral business councils.

Towards the latter part of 2012, the CCC embarked on a special project titled ‘Spark iT’ with a view of empowering budding ICT entrepreneurs in Sri Lanka. The initiative will provide the ideal platform for ICT entrepreneurs and help accelerate business through access to potential private sector investors and expert guidance in developing business plans.

Spark iT will also give an opportunity to attract funding to the budding ICT entrepreneurs, from amongst whom the top  five to 10 business plans, will receive an additional ‘Investment award’ of one million Rupees in cash to action their business plans.

The ICT sphere in Sri Lanka has experienced unparalleled growth, fuelled by sustained economic development over the past decade. ‘Spark iT’ will further enable ICT entrepreneurial development through the facilitation of expertise in areas of business development and financial inclusion.

Through ‘Spark iT’ aspiring entrepreneurs will be able to present new ideas and businesses, or new ideas for existing businesses in taking their business to the next level.

Sri Lanka is richly endowed with ICT talent, and in terms of quality of innovation, is clearly on par with regional and global peers. The ingredient the chamber needs to add, in order to drive our ICT market to a level which has global impact and competitiveness, is the seeding and proliferation of ICT entrepreneurship, and the bringing together of innovation and capital towards the creation of a large number of profitable ICT businesses.

The CCC commenced a journey to set in motion a wave of ICT entrepreneurship, and will also draw upon its membership and knowledge resources to support ICT entrepreneurs with guidance and mentorship with respect to the multiple facets of business creation.

The ‘Spark iT’ initiative was envisioned to help sustain and provide start-up possibilities for ICT entrepreneurs in Sri Lanka. Through this initiative the chamber expects to provide the ideal platform for a good ICT business idea to transform into a great business venture.

The innovative new platform will help to turbo-charge the start-up ecosystem in Sri Lanka and is aimed at supporting ICT start-ups over the next five years.

Spark iT will extend ICT entrepreneurs in Sri Lanka an opportunity to launch businesses, aided by informative workshops with some of the region’s top entrepreneurs, industry experts and business leaders.

All business proposals were evaluated by an evaluation panel comprising of 12 well renowned ICT professionals and venture capitalists’. The founders of selected business plans were given the opportunity to present their business proposals before a panel of ICT professionals and elite potential investors, opening them up to multiple capital and partner prospects.

Spark iT is geared to provide mentorship and seed funding to ICT entrepreneurs, to either launch accelerate or expand their business.

The initiative of Ceylon’s Chamber is supported by the event partner Venture Engine, strategic partner SLASSCOM, national partner ICTA, platinum sponsor Etisalat, award sponsors Brandix, Dialog, John keels, and MAS Holdings and other sponsors Microsoft, 99x Technology, Orion City, hSenid, IFS, and Informatics.