Dialog Axiata powers Venture Engine start-up acceleration program

Tuesday, 9 November 2021 02:06 - - {{hitsCtrl.values.hits}}

From left: Dialog Axiata Group Chief Executive Supun Weerasinghe and BOV Capital Co-Founder/Managing Partner Prajeeth Balasubramaniam

Supporting the viability of entrepreneurs against the backdrop of the pandemic and the challenging economic and operating environments posed by it, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, once again powered the 2021 edition of the Venture Engine start-up acceleration program, as it has done since inception, with Dialog Television joining hands as the Pay TV Partner.

Founded by BOV Capital and the Indian Angel Network, Venture Engine is partnered by the Lankan Angel Network (LAN) and supported by Dialog Axiata PLC. Venture Engine has returned for its 10th year with plans to help innovative and scalable start-ups solve a genuine pain point. While the program will look at seed and growth stage start-ups that are interested in scaling, it will also cater to entrepreneurs opting to submit new, early-stage business ideas with large addressable markets. Registrations are open for applicants until 12 November 2021 via www.ventureengine.lk

This year’s Venture Engine program will, for the fourth time, offer a special ‘Impact Entrepreneurship Award’ that highlights for-profit social enterprises that are tackling pressing social, environmental, and economic issues in Sri Lanka. The program is sponsored by Ford Foundation and Indian venture capital firm Aavishkaar. Other sponsors and partners for 2021 include Dialog Axiata PLC, ICTA, SL@100, Council for Start-ups, SLASSCOM, HATCH, KPMG, PwC, AOD, Shift, and CPP.

Commenting, Dialog Axiata Group Chief Executive Supun Weerasinghe said: “Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, has been a long-term partner of the Venture Engine program and is pleased to once again join hands with the platform as the official Telecommunication and Pay TV Partner in our shared vision of nurturing and strengthening the Sri Lankan start-up ecosystem.”

Speaking on the initiative, BOV Capital Co-Founder/Managing Partner Prajeeth Balasubramaniam said: “Venture Engine has been a catalyst in helping start-ups raise funding over the past 10 years. As the foremost funding platform in Sri Lanka, Venture Engine has funded over Rs. 2 billion investments for over 35 start-ups. We are proud that Dialog has continued to support Venture Engine since inception and shares our vision and goal to create exceptional companies in Sri Lanka.”