LIIN launches GRIT and HNB-LIIN Innovation & Impact Entrepreneurship Development Hub for MSMEs in Jaffna

Signing of the MoU between LIIN and HNB (from left): High Commissioner of Canada to Sri Lanka and the Maldives Eric Walsh, HNB Managing Director and CEO Damith Pallewatte, LIIN Chairman Chandula Abeywickrema, and WUSC Country Director Mumtaz Faleel 

Signing of the MoU between LIIN and HNB (from left): High Commissioner of Canada to Sri Lanka and the Maldives Eric Walsh, HNB Managing Director and CEO Damith Pallewatte, LIIN Chairman Chandula Abeywickrema, and WUSC Country Director Mumtaz Faleel

From left: Political Officer – High Commission of Canada in Sri Lanka, Northern Province

Governor Nagalingam Vedanayagam, High Commissioner of Canada to Sri Lanka and the

Maldives Eric Walsh, HNB Managing Director and CEO Damith Pallewatte, LIIN Chairman

Chandula Abeywickrema, and WUSC Country Director Mumtaz Faleel

The event was graced by esteemed guests, including Northern Province Governor Nagalingam Vedanayagam, High Commissioner of Canada to Sri Lanka and the Maldives Eric Walsh, HNB Managing Director and CEO Damith Pallewatte, World University Service of Canada (WUSC) in Sri Lanka Country Director Mumtaz Faleel, and LIIN Chairman Chandula Abeywickrema.

“Empower Pengal” (Empower Women) is an initiative under the GRIT: Growth, Resilience, Investment and Training, program and it is a transformative initiative designed to empower entrepreneurs and drive socio-economic development in northern Sri Lanka. The program is funded by Global Affairs Canada (GAC) and implemented in partnership with World University Service of Canada (WUSC), with LIIN leading key project activities.

The GRIT program will drive social and economic growth in the Northern Province by enhancing skills development of local entrepreneurs with access to finance, investment readiness, and specialised business training. By equipping MSMEs, particularly women-led businesses with the necessary skills, mentorship, and market connections, the program will strengthen the region’s entrepreneurial ecosystem. As these businesses grow, they will create jobs, increase local production, export opportunities and attract investment, leading to a more resilient and self-sustaining economy.

LIIN’s commitment to fostering entrepreneurship

LIIN, Sri Lanka’s first impact investment firm, has been at the forefront of fostering sustainable economic growth through entrepreneurship and impact investment since 2015. Through strategic partnerships, investment facilitation, and capacity-building programs, LIIN enables MSMEs to scale their businesses while driving positive social and environmental change.

Under the GRIT initiative, LIIN has conducted the first-ever in-depth study on the entrepreneurial landscape in the Northern Province, in collaboration with a consultancy team from the University of Jaffna’s Department of Financial Management, Faculty of Management Studies and Commerce. This pioneering research identified key opportunities, challenges, and gaps for women entrepreneurs in the region. The key findings were officially published and made publicly accessible during the launch event.

This research highlights the challenges faced by women entrepreneurs, including limited access to financing, societal barriers, and difficulties in balancing work and family responsibilities. The findings, which were officially published and made publicly accessible during the launch, revealed that:

n 49% of women entrepreneurs struggle with securing capital and market access.

n 55% believe that tailored entrepreneurship training is crucial for SME success.

n 49% agree that women face greater challenges balancing work and family responsibilities compared to men.

To address these challenges, LIIN has introduced two core programs under the GRIT initiative:

The Northern Province holds significant economic potential but faces persistent challenges due to its history of conflict and economic isolation. As per the recent research conducted by LIIN, it shows that there is a growing need to empower women and young entrepreneurs to unlock opportunities and contribute to the region’s development.

Emerging Women Program (EWP)

A flagship component of the GRIT initiative, the Emerging Women Program (EWP) is specially designed to support and empower startup and early-stage women entrepreneurs in the Northern Province of Sri Lanka. This two-year program offers networking, skill-building sessions, mentorship, and knowledge sharing to 100 women, divided into two groups of 50. At the end of the program, the Emerging Women Summit brings all participants together to showcase their experiences, achievements, and lessons learned. 

EWP helps women connect with others who face similar challenges and share their goals. This support network boosts their confidence, leadership skills, and business growth. Personalised mentorship gives them expert advice tailored to their unique needs. Special networking events such as the Emerging Women Program allow them to meet mentors, investors, and industry experts.

Entrepreneurship Development & Training Program (EDTP)

The Entrepreneurship Development & Training Program (EDTP) is specifically designed to support Small and Medium Enterprises (SMEs) in the Northern Province. Over the three-year duration of the project, EDTP program aims to reach 240 entrepreneurs. In the first year, 120 entrepreneurs, will be supported with a focus on ensuring 90% female participation and 10% male entrepreneur participation, particularly those who create job opportunities for women in the area as well as consider young women and entrepreneurs with disabilities. This program is focused on equipping entrepreneurs with essential industry-specific knowledge to optimise their business operations, and improve their business management knowledge using wide range of topics, including impact investment, financial management, business planning, marketing strategies, HR, support for them to earn necessary business certification like GMP, ISO certification, etc. 

Through this program LIIN expects to provide entrepreneurs with special guidance to develop a proper business plan, pitch deck preparation, pitching and impact investment readiness support. LIIN will deliver these key activities through interactive learning sessions and one-on-one mentoring sessions. At the end of the training program, LIIN will host a pitch competition, giving entrepreneurs the opportunity to present their impactful business visions to potential investors. The winners will receive cash prizes as well as 15 investment opportunities to support the growth of their businesses, including pathways to connect with international opportunities.

HNB-LIIN Innovation & Impact Entrepreneurship Development HUB

At the event, a significant milestone was achieved with the signing of an MoU between HNB and LIIN to further support SMEs in the north. As part of this initiative, the two collaborators introduced the HNB-LIIN Innovation & Impact Entrepreneurship Development HUB, a modern, eco-friendly SME maker space in Jaffna. Designed to foster a dynamic entrepreneurial ecosystem, the hub will provide a collaborative space for meetings, idea-sharing, micro-workshops, and business incubation. It will also serve as a platform for entrepreneurs to showcase and promote their products, facilitating growth opportunities and market access. 

Functioning as a central hub for innovation, networking, and impact-driven entrepreneurship, this space will help MSMEs gain access to essential resources and mentorship networks. Committed to inclusivity, the Hub aims to empower entrepreneurs, including women, youth, senior citizens and people with disabilities, enabling them to develop and scale their business ideas, ultimately driving long-term success and economic resilience.

Fostering the impact investment ecosystem

MSMEs are a backbone of Sri Lanka’s economy, contributing over 52% to GDP and employing 45% of the workforce. However, limited access to finance, high-interest rates, and weak impact investment frameworks have remained major barriers. LIIN’s research on Sri Lanka’s impact investment landscape highlights gaps in funding, low awareness among businesses, the need for improved investment-readiness training and contributions made towards SDGs are some major areas to be mentioned.

To bridge these gaps, LIIN is set to strengthen investment-readiness training for SMEs, provide impact investment training for financial professionals in banks, expand accelerator and incubator programs for social enterprises and host an Impact Investment Summit to connect investors, ecosystem players, and SMEs.

Conclusion

Through the GRIT Empower Pengal Program and HNB-LIIN Innovation & Impact Entrepreneurship Development HUB, LIIN is committed to strengthening the entrepreneurial ecosystem in Northern Sri Lanka. By equipping women and MSMEs with essential tools, mentorship, and investment opportunities, this initiative is set to drive sustainable economic development and long-term social impact.

For more information, visit www.liin.lk or connect via the Empower Pengal Facebook page.