JXG, Ceylon Chamber launch new initiative to support entrepreneurs

From left: Ceylon Chamber of Commerce Senior Assistant Secretary General Manori Dissanayaka , Lead Consultant Dr. Nirmal De Silva, Secretary General/CEO Shiran Fernando, Chairperson Krishan Balendra,  JXG Founder and Chairman Emeritus C.T.A Schaffter, JXG Managing Director/Group CEO Ramesh Schaffter, Deputy CEO Dilshan Wirasekara and Chief Marketing Officer Gamika De Silva – Pic by Shehan Gunasekera

• National program BREAKTHROUGH targets promising businesses across all nine provinces
• Rs. 70 m to be awarded to 20 selected businesses
• Individual funding allocations range from Rs. 1 m to Rs. 5 m
• Open to MSMEs and startups in manufacturing and services
• Selected businesses to receive 12 months of mentoring and professional support
• Applications close on 20 January 2027

By Safna Malik 

Janashakthi Group (JXG) and the Ceylon Chamber of Commerce have launched BREAKTHROUGH, a national entrepreneur development program aimed at identifying and supporting high-potential businesses across Sri Lanka through funding and business development support.

The program will cover all nine provinces and focus on two categories of applicants: existing businesses, including micro, small and medium enterprises (MSMEs), and startups operating in the manufacturing and services sectors.

A total of Rs. 70 million will be awarded to 20 selected businesses, with individual grants ranging from Rs. 1 million to Rs. 5 million. Applications will remain open  until 20 January 2027.

JXG Founder and Chairman Emeritus C.T.A. Schaffter said that the initiative seeks to help Sri Lankan entrepreneurs strengthen their businesses, expand their operations and realise their commercial potential. The launch comes as Sri Lanka seeks to accelerate private-sector growth, create employment opportunities and build more competitive enterprises. While several Sri Lankan companies have grown into globally recognised businesses, many entrepreneurs still face challenges in scaling their operations and accessing growth opportunities.

He also said that the name BREAKTHROUGH draws inspiration from the entrepreneurial journey of his business interests, which extended beyond insurance into sectors including dairy, manufacturing, exports, agriculture and education.

JXG Managing Director and Group CEO Ramesh Schaffter said the initiative was designed to provide entrepreneurs with practical support rather than simply recognise achievement.

“Do not count this as another awards ceremony. BREAKTHROUGH is about helping entrepreneurs build stronger businesses and equipping them with the resources, expertise and guidance needed to take the next step,” he said.

Reflecting on JXG’s legacy, he said successful businesses are often built by people willing to pursue opportunities beyond familiar boundaries and take calculated risks. He pointed to companies such as Expolanka, Virtusa and Vega Innovations as examples of Sri Lankan enterprises that began on a small scale before growing into significant ventures.

Schaffter said Sri Lanka has entrepreneurs with the ability to innovate, create jobs and contribute to economic development, and that JXG was committed to sharing its experience and professional expertise to help more local businesses realise that potential.

The initiative combines JXG’s experience in building and managing businesses with the Ceylon Chamber’s extensive network and institutional reach. The Chamber has also invited ecosystem partners to contribute expertise and resources to strengthen the program’s impact.

Ceylon Chamber of Commerce Secretary General and CEO Shiran Fernando said the growth of competitive enterprises would play a vital role in Sri Lanka’s economic progress and its ability to access wider local and international markets.

He welcomed the partnership with JXG and said BREAKTHROUGH would provide a structured platform to identify promising enterprises and support their development through financial assistance and year-long professional guidance.

“We believe this initiative can make a meaningful contribution to business growth, employment generation and the development of more competitive Sri Lankan enterprises,” Fernando said.

Speaking about the selection process, he said it will begin with provincial-level assessments, followed by workshops, mentoring and business development sessions for shortlisted applicants.

Final selections will be made by an expert panel based on business viability, innovation, scalability, sustainability, ethical practices and potential economic and community impact.

Funding allocations will be determined according to each business’s stage of development, growth objectives and funding requirements. Beyond the grants, the 20 selected businesses will participate in a structured 12-month post-award development program, gaining access to mentoring, investor networks, banking and insurance support, professional expertise and quarterly progress reviews.

JXG’s senior leadership and professionals from across the Group will contribute expertise in finance, human resources, information technology, marketing and legal services to help participating businesses strengthen governance, improve decision-making and prepare for sustainable growth.

Through BREAKTHROUGH, JXG and the Ceylon Chamber aim to make business development opportunities more accessible to entrepreneurs across the country and help promising enterprises translate ambition into long-term commercial success.