Global Entrepreneurship Week inspires programs in various sectors throughout Sri Lanka

The Association of Small and Medium Enterprises in Tourism (ASMET) Sri Lanka, started discussions with Young Entrepreneurs Sri Lanka (YESL), to develop a program of entrepreneur education for small and medium enterprises (SMEs) in travel and tourism.  

YESL implements Junior Achievement (JA) worldwide programs in entrepreneur education for school and university students.  With guidance from the travel and tourism supplement of the JA program, YESL hopes to design a program for SMEs in Sri Lanka.

The vast majority of SMEs in travel and tourism in Sri Lanka are informal, and is growing rapidly. Therefore, it is timely and critical to professionalise this sector in order to protect the quality, value and image of Sri Lanka’s tourism industry as a whole.

The Government has recognised the value of the SMEs in the economy. The recent budget as well has allocated a fair share of money for SME development. Therefore, it is crucial this sector is educated so that the benefits afforded can achieve the desired outcome.

ASMET and YESL invite entrepreneurs, startups, investors, mentors, Government, policy experts, academics, researchers and sponsors to come together and support an island-wide entrepreneur education program to empower SMEs in travel and tourism. Please contact [email protected] for details.

Entrepreneurship education for regional SMEs discussed

 The Business for Peace Alliance (BPA) is Sri Lanka’s regional chambers of commerce network for conflict transformation, reconciliation, regional empowerment and corporate social responsibility. In a bid to empower Sri Lanka’s regional small and medium enterprises (SMEs), BPA started discussions with young entrepreneurs Sri Lanka to develop a curriculum for entrepreneurship education for members of the regional chambers of commerce. A vast informal SME sector exists and is growing throughout Sri Lanka. To reverse this critical trend, BPA proposes to introduce professional entrepreneurial education throughout the country with the regional chambers of commerce partnering with YESL. BPA and YESL invite entrepreneurs, startups, investors, mentors, Government, policy experts, academics, researchers and sponsors to come together and support an island wide entrepreneur education program to empower SMEs. Please contact [email protected] for details.

Angel investment pilot project launched in Hambantota

Can equity investments in micro and small enterprises help facilitate enterprise growth? How feasible are angel investments in the small and micro enterprise sector? An international collaborative research team, comprising of Dr. Suresh de Mel (University of Peradeniya, Sri Lanka), Dr. David McKenzie (USA) and Prof. Chris Woodruff (UK), in partnership with the Hambantota District Chamber of Commerce (HDCC) and KCG Equity (Pvt) Ltd, plans to examine these issues in a proposed pilot project.  HDCC will direct the research team to enterprises that have been identified as having such growth potential and investment needs. As part of the research project, KCG Equity will undertake equity investments in these selected enterprises. Based on the success of this pilot phase, the project has potential for expansion to a larger group of enterprises.

Spiralation Hackathon ‘Code-in-Kandy’

marks GEW

Initiated by the Information and Technology Agency (ICTA) of Sri Lanka in partnership with the University of Peradeniya, the Spiralation Hackathon ‘Code-in-Kandy’ event concluded on Sunday to mark the GEW Sri Lanka 2012.

The objectives of Spiralation Hackathon was to create a platform where tech enthusiasts, designers, and budding entrepreneurs and people with varying skills will use their knowledge, creativity and passion to solve problems and build products using technology which is in demand locally and internationally.

“The Hackathon was also a platform to learn new skills, share views and experiences and develop team building and leadership competencies among participants,” a spokesman for ICTA said.  

Technology start-up ‘Spiralation,’ a support initiative of ICTA, comprises a grant scheme that promotes innovation in a spirit of collaboration as emphasised by the term ‘Spiralation.’ The program targets new business enterprises or those in the very early stages of development and aims at encouraging entrepreneurs island-wide to launch new technology products and/or services. Thus the programme promotes the launch of these products and services which are transformations of their new business ideas, while addressing market gaps and assisting new ICT related innovations.