Ridgecrest wins Venture Engine 2013

Friday, 28 June 2013 05:28 - - {{hitsCtrl.values.hits}}

Venture Engine 2013 comes to a close amidst much appreciation from Sri Lankan entrepreneurs and businessmen alike as the platform has continued to grow and create more opportunities and develop the entrepreneurial potential of the country. Winning the coveted first place was Ridgecrest, with Whodat in second place and Pretty Metals in third. “Expolanka is always looking to empower budding entrepreneurs who encapsulate the dare-to-do spirit that is part of our DNA. We are happy to see the success of the last year’s event and the overwhelming response we received this year by entrepreneurs. Venture Engine no doubt is in the forefront of assisting the entire entrepreneur eco system and we at Expolanka are elated to support and extend our commitment to help develop Sri Lankan entrepreneurship,” said Hanif Yusoof, Group CEO of Expolanka. “Orion City is privileged to be a part of this significant event which is catapulting entrepreneurship in Sri Lanka to the next sphere. We wish Venture Engine all the very best and will always be there to support in any way we can. Kudos to the BOV and Lanka Angel Network team for getting this together and pulling off a splendid event. Wishing all the

winners and participants all the very best and it is great to see them succeed in all their ventures,” said Jeevan Gnanam, CEO of Orion City, Sri Lanka. “We are pleased to extend our support to Venture Engine 2013 for the second year running,” Jeremy Huxtable, Group Chief Officer at Dialog Enterprise said. “Venture capital plays a critical role in providing the investment and resources needed for innovative enterprises to realize their full potential not only locally, but on the global stage as well. I wish Venture Engine 2013 all success.” On 6 May, the second edition of Venture Engine was launched, a unique initiative geared to provide real opportunities for entrepreneurs to build their business. The response was overwhelming with over 120 business plans coming in by the close of submissions on 3 June. Three intensive weeks of presenting to investors, workshops and mentoring sessions followed as the top 25 was whittled down to the top 10. A panel of seven high profile investors from India joined a well respected panel of investors from the Lankan Angel Network along with the sponsors and founders for the final presentations by the top 10 entrepreneurs on 26 June. The presentations were followed by the finale cocktails, an exciting event that celebrated not only the achievements of the winners but also that of each of the teams and individuals who participated in the event showcasing the vast potential of entrepreneurial ideas in Sri Lanka. Speaking at the event on behalf of the participants, finalist Nilusha de Silva, thanked the event organisers and sponsors for creating a platform that enabled entrepreneurs like herself to follow their dream and the mentors and panel for their invaluable advice. The international panel of judges that flew in for the finale expressed their excitement at the potential and ideas showcased. Speaking at the event, Padmaja Ruparel, President, Indian Angel Network expressed IAN’s strong appreciation of the potential of the entrepreneurial ecosystem in Sri Lanka and their excitement to continue to be part of this program in 2014 and beyond. Overall, the sentiment at the event was one of appreciation for this initiative as the only one of its kind in terms of creating opportunities for funding, an essential element for most budding businesses. A concept visualised and created by Blue Ocean Ventures and the Indian Angel Network, the event was made possible by the Platinum Sponsors Expolanka and Orion City and Gold Sponsor Dialog. Rajan Anandan, Chairman of Blue Ocean Ventures, expressed great appreciation to the sponsors for taking the chance to back this event in 2012, and for their continued support and commitment to empowering entrepreneurship in Sri Lanka making this event possible. A resounding success Venture Engine will be back in 2014 and all signs point towards an even bigger response from budding entrepreneurs. For more information and updates visit www.ventureengine.lk