Applications now open for ICTA-initiated ‘Spiralation’ grants
Tuesday, 10 June 2014 00:54
The ICT Agency of Sri Lanka (ICTA) is calling for applications from eligible technology businesses for consideration for grants for launching ICT related innovative businesses under its ‘Spiralation’ program. According to ICTA the aspiring applicants could download the application forms via the website www.spiralation.com. The deadline for applications is 4 July 2014.
‘Spiralation,’ the tech startup support initiative of the Information and Communication Technology Agency of Sri Lanka (ICTA) was launched for 2014 on 5 June. Aptly termed ‘Spiralation’ to bring in the ‘spiral’ model which combines advantages of top-down and bottom-up concepts with ‘innovation,’ it encompasses the true nature of the program structure.
Supported by many partner organisations including international technology providers, prestigious higher education institutions and industry (both ICT and other), the program exposes the selected applications widely in various domains.
The program targets business enterprises island-wide either new or in very early stages of development. The primary goal is to encourage entrepreneurs to launch their business ideas in creating new technology products and/or services which address marker gaps and assist new ICT-related innovations.
Under this scheme, registered technology businesses in Sri Lanka under two years in existence and with less than 10 employees can apply for a grant. The grant will cover 75% of the total project cost of a maximum of Rs. 750,000, whichever is lower. With the grant provided, the new companies can subsidise infrastructure, capacity building, business development and any other third party costs. This year, grants are available to support a maximum of 15 companies under this program.
The selected applicants will also be mentored through the program’s impressive partner ecosystem in areas of expertise they should acquire in order to develop them into successful enterprises. This lineup of partners includes Microsoft, Oracle, IBM, Sri Lanka Association of Software Service Companies (SLASSCOM), Federation of IT Industry Sri Lanka (FITIS), British Computer Society (BCS), Ceylon Chamber of Commerce, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), CIO Forum, Sri Lanka Institute of Marketing (SLIM), Chartered Institute of Management Accountants UK (CIMA) and the University of Colombo School of Computing (UCSC).
Applications will be filtered through several phases where the business plans, non-technical competency and the technical competency of the companies will be looked into by expert panels. These panels will select the companies to which grants will be given.
For more information, applicants could refer the website or contact the ICTA at firstname.lastname@example.org or 011-2369099. The initiative launched in 2010 has now supported nearly 20 companies over the years and helped create over 200 new jobs in the industry. Some of the companies supported via the Spiralation program in the past are Innosoft Ltd., eTenders.lk, Agaya Holdings Ltd., Ignite Solutions Ltd., Square Mobile, CODE IT Solutions, LOOPS Solutions Ltd. and Bhasha Lanka Ltd.