Sri Lankan start-ups introduced in Singapore

Singapore-Sri Lanka Business Association in collaboration with Sri Lanka High Commission in Singapore launched the first session of its investor series 2019 under the theme: ‘Connecting Sri Lankan Start-ups to international investors’. The objective of the forum was to introduce the capabilities of Sri Lankan start-ups and develop collaborations with the international investors to reach the global audience. The event was held on 17 May at CMS Office in Singapore. 

Delivering the opening remarks, Acting High Commissioner of Sri Lanka to Singapore O.L. Ameerajwad stated that the initiative was timely, especially in the wake of the recent attacks in Sri Lanka on Easter Sunday, in order to restore investor confidence and encourage friends of Sri Lanka from international business and investor community to keep supporting Sri Lanka’s economy. He briefed the gathering on the progress made in the security situation of the country and the immediate actions taken by the Sri Lankan Security Forces to restore normalcy. 

Ameerajwad emphasised that start-ups which are categorised under the SMEs in Sri Lanka, play a vital role towards economic development of the country and that the contribution made by SMEs is considered to be a major force to achieve sustainable and inclusive growth. He further stated that start-ups can explore business opportunities in the priority sectors that have been identified under the National Export Strategy of Sri Lanka to promote high value exports and services in the global market, while opportunities in these sectors are also being linked up with the global supply chains.

Serendipity Venture, a Colombo based company made a presentation focusing on growth stages of start-ups and how to create value and profitable business collaborations involving start-ups both locally and globally. An expert from CMS, an international law firm based in 41 countries, including Singapore, used this occasion to explain the services available under their Start-ups Equip Program in Sri Lanka such as sector specific legal advice, introduction to relevant industry players and promotional value added services to collaborate with global investors. This Forum also facilitated sharing the capabilities and strengths of Sri Lankan start-ups and the challenges faced by them. 

The Forum was followed by a networking session, among the participants.