Towards Innovation Eco-System for promoting startups in Sri Lanka

Friday, 26 January 2024 00:14 - - {{hitsCtrl.values.hits}}

Dr. Alex Lin

Japan International Cooperation Agency (JICA) is taking on a new initiative for building an innovation ecosystem for startups that aim to design and execute a master class program to understand the current challenges of the ecosystem in Sri Lanka. It is envisaged to implement a pilot, open innovation challenge for the startup community and other stakeholders to develop a five-year road map for building an open innovation platform in Sri Lanka.

JICA welcomed Dr. Alex Lin from Singapore, who invested in and built the Singapore Startup Ecosystem into its current status and helped build startup and innovation ecosystems in various countries. He conducted online pre-lectures and a two-day master class at Movenpick Hotel in Colombo on 18 and 19 January 2024. Almost 30 participants from different groups, including Incubators /angel investors, established startups, universities, government agencies, banks, private and international entities, etc. attended the master class.

The masterclass covered cases from other ecosystems, understanding the stakeholders in detail to the nitty gritty of setting up an accelerator. This provided comprehensive know-how to the participants to embark on their transformation.

The participants were very satisfied and impressed by Dr. Alex’s masterclass.

Dr. Alex said, “The master class is just the beginning. Thanks to team JICA Sri Lanka’s support, especially from Chief Representative Yamada-San (https://t.ly/hQGCy), for making this happen. Sri Lanka is eager and ready to build its innovation ecosystem with more innovative companies, capturing opportunities with technologies and trade.

“Next, we are having a pilot Open Innovation Challenge to create more innovative companies solving problem statements provided by partnering corporations. The challenge will create more viable and innovative companies, serving the Sri Lankan community while creating jobs.

This Masterclass and pilot Open Innovation Challenge would stimulate the ecosystem in Sri Lanka with assistance from JICA. Let us build better startups here in Sri Lanka.”