Finnovation Lab empowers Sri Lanka’s next-generation FinTech innovators

The Finnovation Lab, held on 2 September, marked a significant milestone in Sri Lanka’s journey to become a regional hub for financial technology innovation. 

Organised by the Sri Lanka FinTech Summit with support from leading industry players, universities, and government stakeholders, the initiative provided a platform for collaboration, innovation, and knowledge exchange in the country’s rapidly growing FinTech ecosystem.

As Sri Lanka’s digital economy gathers momentum, there remains a critical gap between academic learning and practical application in the FinTech sector. Many young people, especially university students, have limited exposure to real-world industry challenges, fewer opportunities to interact with professionals and regulators, and little access to platforms that turn innovative ideas into actionable solutions. The Finnovation Lab was designed specifically to bridge this gap, equipping the country’s youth to actively shape the future of digital finance.

The program brought together 200 students from leading public and private universities, connecting them with FinTech professionals, policymakers, and innovators. Through a series of interactive workshops, panel discussions, and mentorship sessions, participants gained hands-on experience and insights into emerging trends in financial technology. Topics covered included artificial intelligence in finance, blockchain applications, digital payments, and cybersecurity, providing students with practical knowledge alongside theoretical learning.

In addition to workshops, the Finnovation Lab will facilitate networking opportunities, allowing students and startups to build relationships with investors, industry leaders, and Government representatives during the Sri Lanka FinTech Summit, taking place on 24 and 25 September at BMICH. This interaction will not only foster mentorship and guidance but also open pathways for future collaborations, entrepreneurial ventures, and research initiatives.

The Lab also featured the launch of new FinTech incubator programs and the announcement of collaborative research projects with universities. These initiatives are expected to accelerate innovation, supporting students and startups in transforming their ideas into solutions that can have a real-world impact. By nurturing talent and fostering creativity, Finnovation Lab contributes to building a strong foundation for Sri Lanka’s digital finance ecosystem.

Highlighting the significance of the initiative, Summit Chair Damith Pallewatte said, “Finnovation Lab is where ideas meet opportunity—an ecosystem designed to unlock the full potential of Sri Lanka’s FinTech talent.” His remarks underscored the Lab’s role as more than just an event; it is a movement aimed at cultivating a thriving FinTech community in the country.

Co-Chair Dr. Kumudu Megasooriya added, “By connecting students, professionals, and innovators, Finnovation Lab is turning theory into action and preparing the next generation of FinTech leaders.” Her statement emphasised the Lab’s practical approach to education and innovation, bridging the gap between classroom learning and industry application.

FinTech Forum of Sri Lanka Chairman Channa De Silva said, “This initiative highlights our commitment to building a vibrant FinTech community, empowering youth to shape the future of digital finance in Sri Lanka.” He stressed the importance of nurturing talent and creating opportunities for students to contribute to the growth of the digital economy. 

The Finnovation Lab represents a crucial step toward accelerating digital transformation in Sri Lanka’s financial sector. By focusing on education, mentorship, and practical exposure, it empowers students and young innovators to actively contribute to the development of financial technology solutions that meet real-world demands. Initiatives such as incubator programs and collaborative research projects provide sustainable pathways for growth, ensuring that Sri Lanka remains competitive in the global FinTech landscape.

Beyond its immediate educational benefits, the Lab reinforces the country’s vision of becoming a regional FinTech hub. By fostering collaboration between startups, industry leaders, academia, and government institutions, Sri Lanka is positioning itself as a centre for innovation, talent development, and digital financial services in South Asia. The Lab also serves as a model for future initiatives, demonstrating how structured programs can effectively nurture young talent while addressing critical gaps in the sector.

Looking ahead, the Finnovation Lab is set to become an annual feature of Sri Lanka’s FinTech ecosystem, creating a sustainable pipeline of skilled professionals and innovative solutions. With continued support from the Government, universities, and industry stakeholders, the initiative promises to transform the country’s digital finance landscape while inspiring the next generation of FinTech leaders.

The Finnovation Lab is more than an educational program—it is a strategic initiative that bridges knowledge gaps, empowers youth, and drives innovation in Sri Lanka’s financial technology sector. As the country continues to embrace digital transformation, such initiatives will play a pivotal role in shaping a vibrant, inclusive, and forward-looking FinTech ecosystem.