Venture Engine 2013: 120 submissions, evaluations begin

With the month-long open call for business plans and ideas from Sri Lankan entrepreneurs coming to a close on 3 June, Venture Engine is moving full speed ahead with the next stages of the competition, with a record 120 submissions coming in this year.

The plans were evaluated by an eminent judging panel, comprising representatives from the Lankan Angel Network (LAN), the Indian Angel Network (IAN) and Blue Ocean Ventures (BOV) along with the event sponsors, who carefully assessed each plan’s merits.

Following the evaluation process the top 25 submissions will be called into the next round. The selected teams and individuals will come in for a two minute pitch to the panel followed by a question and answer session. Subsequent to the pitch the top 20 plans will go into the first workshop session.

Conceptualised by BOV in collaboration with the IAN, Venture Engine looks to give budding entrepreneurs unrestricted access to big name investors by providing them with a highly visible platform for their ideas combined with constructive workshops and mentoring sessions.

Co-Founder of Blue Ocean Ventures Prajeeth Balasubramanium said: “The program is structured to create maximum opportunity and exposure for all participating entrepreneurs, whether they make it into the top 10 or not. From the exposure of the two minute pitch to the learning value of the workshops and the on-going engagement opportunities through the Lankan Angel Network for all the businesses, Venture Engine is designed to empower entrepreneurship in a very practical way.”

Supporting the event for the second year running are platinum sponsors Expolanka Holdings PLC and Orion City as well as Gold Sponsor Dialog. The continued backing of these industry heavyweights further solidifies the stature of this event.

For more information on Venture Engine visit www.ventureengine.lk.