Home / Entrepreneurship/ PwC’s Startup Accelerator and LIIN to build a platform for new startups

PwC’s Startup Accelerator and LIIN to build a platform for new startups


Comments / {{hitsCtrl.values.hits}} Views / Monday, 16 December 2019 01:37


Channa (left) and Chandula having a conversation about Sri Lanka’s startup ecosystem

From left: Sandaru, Amal, Chandula, Channa, Aruna, and Suwin

 

In an era where traditional value chains are increasingly being challenged by innovative business models such as Airbnb, Alibaba and Uber, Price waterhouseCooper’s Startup Accelerator and Lanka Impact Investing Network have joined forces to similarly disrupt the startup ecosystem. 

As a developing nation, Sri Lanka too has been increasingly looking up to startups and their unconventional methods to help change the monotony of the business environment and help give Sri Lanka that all-important boost it needs to invigorate and disrupt industries. Therefore, to further strengthen the foundation of startups across Sri Lanka, PwC’s Startup Accelerator and Lanka Impact Investing Network (LIIN) recently signed a Memorandum of Understanding (MoU) to guide, mentor and fund startups to reach their full potential. In addition, both organisations will have a deeper focus on the social innovation and sustainability aspects of the startups and entrepreneurs.  

The MoU was signed by PwC Sri Lanka Advisory Leader Channa Manoharan and LIIN Chairman Chandula Abeywickrema, to collaborate and utilise resources to empower startups to expand locally, regionally and internationally. 

PwC’s Startup Accelerator will utilise its business expertise and provide startups with the necessary guidance on business modelling, valuations and investor pitches, capital raising while also offering a range of advisory services to LIIN recommended startups. The agreement also allows PwC to engage in networking sessions arranged by LIIN. 

“Our ultimate aim through this MoU with LIIN is to build a strong and sustainable network of startups, which has the ability to drive the ecosystem forward despite the challenges,” Manoharan said. He added that startups can play a more proactive role in driving the country’s economy forward.  

During the ceremony, Abeywickrema stated, “This partnership between LIIN and PwC is surely a stepping stone towards driving entrepreneurial DNA in the local ecosystem. We are hoping to assist startups reach their ultimate goals, and find game-changing startups for investors to invest in.” LIIN has been instrumental in creating the country’s first platform for social entrepreneurs to gain funding. In addition, LIIN is aiming to launch a new initiative facilitating early stage entrepreneurs and startups to get funded in a relatively short period of time. 

Established in 2018, the PwC Startup Accelerator aims to contribute to the Sri Lankan startup ecosystem’s development via incubation, mentoring, advisory services, capital raising and knowledge partnerships. PwC’s Startup Accelerator has been an important stakeholder in the ecosystem and contributed to uplifting the local innovation landscape, driven by an experienced team and the access to PwC’s global network. With initiatives such as PwC Germany’s NextLevel team and PwC India’s FinTech Startup program, PwC aims to utilise their experience as well as these global networks to work together with LIIN in order to achieve the objectives set forth in the MoU.

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Withering of expectations and prospects of new ones

Friday, 21 February 2020

The election of Gotabaya Rajapaksa as President at the last Presidential Election can be said to have been the ultimate wish of the majority of Sinhala Buddhist people. Yet, the people were not aware that the President they were electing does not hav


Upsurge of populism

Friday, 21 February 2020

“Populism: denies the pluralism of contemporary societies. It promotes hostility to “enemies” and flirts with violence. It is generally gripped by a territorial mentality that prioritises borders and nation states against ‘foreigners’ and


Diplomatic drone strike, Indo-Lanka equation and constitutional change

Thursday, 20 February 2020

The ‘diplomatic drone strike’, the dramatic US strictures against the Army Commander, Lt. Gen. Shavendra Silva, tells us that Big Brother IS watching. This isn’t the usual suspects, its way out of their league. This is the Big League, the big b


Solar and wind power can resolve electricity crisis, early and cheaper, if allowed

Thursday, 20 February 2020

The country is facing the worst power situation in the history, with electricity generation being unable to meet the demand, with generation costs among the most expensive in the world. With the current scenario, the country cannot be expected to com


Columnists More