Hemas launches ‘Slingshot’ entrepreneur and inventor support initiative

Signs MoU with Sri Lanka Inventors Commission

Hemas Holdings PLC launched its second innovation initiative focused on harnessing the innovation capability of talented entrepreneurs in line with the Group’s core business areas of wellness, leisure and mobility. As a key step of this initiative Hemas signed a MoU with Sri Lanka Inventors Commission.

The focus on supporting entrepreneurship is in line with the government mandate and is to encourage local entrepreneurs and inventors to reach their maximum potential. In order to leverage on the vast talent base, ‘Slingshot’ a start-up incubator program was developed by Hemas with the objective of providing entrepreneurs the opportunity to pitch inventions and business concepts in line with the Group’s business interests and growth strategy.

From left: Hemas Holdings PLC Senior Manager Business Development Sarit Fernando, Hemas Holdings PLC Head of Corporate Finance Vathsala Wijekoon, Sri Lanka Inventors Commission Director/CEO Dinesh Sattrukalsinghe, Hemas Holdings PLC CEO Steven Enderby, Sri Lanka Inventors Commission Commissioner Deepal Sooriyaarachchi and Hemas Holdings PLC Director Strategy Himesh Fernando

To achieve its objectives, the program is governed by a diverse advisory board comprising of both internal and external personnel with experience in entrepreneurship, innovation, business start-up and domain expertise.

“At university level, school level or at public exhibitions, we have seen lots of very talented people with great ideas struggling to get their concepts or prototypes off ground particularly due to a lack of a support structure. Slingshot aims to give momentum to these concepts which will benefit the individuals as well as the organisation,” said Director Strategy Dr. Himesh Fernando.

To source high potential inventors, Hemas signed a MoU with Sri Lanka Inventors Commission (SLIC). SLIC is a leading catalyst in uncovering innovative capability within the nation and is a forerunner in facilitating the process of converting ideas to practical applications. With regard to access to technology, SLIC provides support programs for inventors to test and further improve their prototypes and products.

“It is indeed very encouraging to see a conglomerate such as Hemas Holdings come to the foray to support our local inventors in line with our plea to the rest of industry to ‘Adopt an Inventor’, thereby delivering upon the promise of an innovation led economic revival in our Mother Land,” said Sri Lanka Inventors Commission Director/CEO Dinesh Sattrukalsinghe. Hemas and SLIC have forged this public-private partnership to unlock the true potential of inventors and entrepreneurs who can add value to the national economy and further their business aspirations.

The Hemas Group is one of the leading conglomerates in Sri Lanka with a focus on four key sectors, namely Fast Moving Consumer Goods (FMCG), Healthcare, Transportation, and Leisure.