Disrupt Asia 2025 returns to fuel Sri Lanka’s digital innovation ambitions

From left: Lankan Angel Network Founder and ICTA Board Adviser Prajeeth Balasubramaniam, ICTA Board Adviser Mangala Karunaratne, Mastercard Sri Lanka and Maldives Country Manager Sandun Hapugoda, Digital Economy Ministry Deputy Minister Eranga Weeraratne, Industry and Entrepreneurship Development Ministry Deputy Minister Chathuranga Abeysinghe, Digital Economy Ministry Acting Secretary Waruna Sri Dhanapala, ICTA Board Director Chandima Cooray, and ICTA Startup Ecosystem Development Advisory Board Member and TRACE Executive Director Heminda Jayaweera– Pic by Shehan Gunasekara 

• Disrupt Asia 2025 to be held from 17 to 20 Sept. in Sri Lanka 
• Govt. targets $ 5 b export target by 2030
• Highlights need for mindset shift towards innovation and productisation 
• Registrations for Venture Engine 2025 now open

By Divya Thotawatte

Disrupt Asia 2025, Sri Lanka’s premier startup conference and innovation festival, was unveiled recently with renewed ambition to position the country as the region’s go-to destination for startup growth, investment, and cross-border collaboration. 

Taking place from 17-20 September, the four-day innovation platform is backed by the Ministry of Digital Economy and the Information and Communication Technology Agency of Sri Lanka (ICTA). A dynamic mix of startups, investors, industry leaders, corporates, policymakers, and ecosystem builders from the region is set to attend, driving Sri Lanka’s digital transformation agenda and establishing the country as the premier destination for regional tech innovation. 

Speaking at the launch, Digital Economy Deputy Minister Eranga Weeraratne said, “We are not just talking about digitalisation of the Government, but we are talking about the digital economy. Digitalisation is going hand in hand with the economic development because we believe that this is the only true vision that can drive the country toward a fast development phase.”

He identified digitalisation as one of the Government’s top three priorities for the next five years, alongside eradicating poverty and reforming education. While acknowledging Sri Lanka’s strength as a digital service hub, the deputy minister pointed out the limitations of the current model. 

“We develop cutting-edge, world-class solutions for companies located outside Sri Lanka and we are only working as backend development centres. We are not harnessing the true potential of our resources.” 

He stressed the need for mindset change towards innovation and productisation to achieve the long-standing target of a $ 5 billion digital industry. 

“We’ve been talking about the $ 5 billion target since 2016. However, even today we have only achieved $ 1.6 billion of foreign revenue from the country,” he said, explaining that the lack of a proper startup ecosystem and product companies’ inability to retain operation within Sri Lanka were a few challenges limiting growth. 

“Platforms like Disrupt Asia 2025 played a critical role in reversing this trend,” he said. “Events like Disrupt Asia played a great role in achieving much-needed capital into the country and supporting young innovators and entrepreneurs to build high-scale companies,” he said.

Industry and Entrepreneurship Development Deputy Minister Chathurange Abeysinghe, who also attended the event, emphasised the need to strengthen Sri Lanka’s fragmented startup ecosystem. Yet, for the first time, multiple ministries, including industry, digital, tourism, and agriculture ministries, were working together to support entrepreneurship, he said. 

“The disruption had not happened at the policy level, but efforts were now underway to remove those barriers,” he added. 

Advisor to ICTA Board Chandima Cooray said, “We believe there is industry potential to be driven up to $ 5 billion export revenue by 2030, and the transaction economy to move from current $ 3.5 billion to about $ 50 billion.” 

He said that Disrupt Asia 2025 would be a key step in realising these digital goals of Sri Lanka, with its aims of changing the dialogue of Sri Lanka, boost innovation, and support local talent. The event was designed to remove “fundamental challenges” and signal that Sri Lanka was ready to become an international innovation destination. 

The Main Conference and Startup Showcase on 18 September is the central event for Disrupt Asia 2025, presenting keynote sessions from industry pioneers, policy leaders, and global innovation experts. Attendees will engage in one-on-one investor matchmaking and experience a robust exhibition showcasing 30+ disruptive startups.

The event aims to attract 1-2 venture funds, investors, and accelerators to enter the Sri Lankan market, with efforts underway to facilitate the local setup of a major accelerator. The main focus of the conference will be igniting cross-border investment and fostering strategic partnerships through the Fund of Funds initiative, elevating Sri Lanka as a key destination for regional venture capital activity. 

The Innovation Festival on 19 September offers a public celebration of technology and creativity designed to inspire the next generation. Interactive tech demos, 50 live product showcases, and immersive installations are expected to spark curiosity and promote tech. Visitors will also enjoy thematic tracks covering FinTech, HealthTech, AgriTech, AI, Tourism, GovTech, and other emerging domains.

TRACE Sri Lanka Executive Director Heminda Jayaweera added, “TRACE Expert City will host the Disrupt Asia Innovation Festival 2025, uniting youth, academia, industry, and Government to celebrate innovation and entrepreneurship. The festival will spotlight Sri Lankan tech startups, connect them with global expertise, and spark bold ideas for a digitally driven future. TRACE is proud to be the ecosystem partner and host of this key event.”

As part of the Disrupt Asia international engagement, a curated sundowner event will spotlight world class Sri Lankan brands in a unique cultural showcase. Attendees will experience the richness of Ceylon through artisanal tastings. Asaya Sands will bring the flavours of Sri Lanka’s southern coast through a specially designed culinary offering. 

The evening will also include gem displays and cultural elements, reflecting the island’s vibrant heritage. More than a networking event, this sundowner aims to establish a micro hub that bridges Sri Lanka’s innovation and creative excellence with global audiences.

Calcey Founder and CEO and Advisor to ICTA Board Mangala Karunaratne said, “Disrupt Asia isn’t just a festival, it’s the start of a series of actions to make Sri Lanka a destination where investors want to come, startups want to land and the founders want to build. If you get the policy environment right, this island can be a magnet for talent and ideas.” 

“This festival was not just about panels and networks, but about proving to the world that Sri Lanka was ready to compete globally,” Karunaratne said. 

Mastercard Sri Lanka and Maldives Country Manager Sandun Hapugoda said, “As digital advancements continue to redefine commerce, cybersecurity, and financial ecosystems, Mastercard stands committed to supporting Sri Lanka’s journey toward a digitally inclusive future. By collaborating with visionary entrepreneurs, industry pioneers, and changemakers, the company aims to accelerate the nation’s digital transformation and solidify its role as a dynamic innovator in the region.”

Kicking off the four-day series of events, on 17 September is Venture Engine (VE), Sri Lanka’s leading startup funding platform which offers curated mentorship, strategic exposure, and a unique opportunity for startups to engage with leading investors shaping the future of innovation. 

Venture Engine (VE), powered by BOV Capital and the Indian Angel Network, and proudly partnered with the Lankan Angel Network (LAN), announced this year’s edition in collaboration with Disrupt Asia, a landmark public -private partnership. VE 2025 will officially open on 18 June 2025 for registrations in conjunction with the launch of Disrupt Asia, creating significant opportunities for startups. Startups who are eligible are invited to apply via the official portal: https://ventureengine.lk. 

BOV Capital Co-Founder/Managing Partner and LAN Founder Prajeeth Balasubramaniam noted, “Venture Engine empowers startups to transform bold ideas into impactful solutions for Sri Lanka and internationally. We are excited to partner with those passionate about putting Sri Lanka on the global stage and invite them to ignite their potential.”

Partners of Disrupt Asia 2025 include the Ministry of Foreign Affairs, Foreign Employment and Tourism, Ministry of Industry and Entrepreneurship Development, Mastercard, Venture Engine, nVentures, Trace Expert City, Asaya Sands, UNDP, BOV Capital, Indian Angel Network, Lankan Angel Network, Hatch, Spike, Cinnamon Life, SriLankan Airlines, and Dialog.