GEM UK sets up national team in Sri Lanka to boost entrepreneurial growth

Global Entrepreneurship Monitor (GEM) is a UK-based entrepreneurship research network with objectives to conduct national surveys in order to thoroughly identify the entrepreneurship ecosystem in the country. 

According to GEM sources, research findings and multidimensional data are highly impactful to identify dynamics and benchmark entrepreneurship ecosystems. 

GEM consists of 115 national teams globally and set up a three-member national team in Sri Lanka with Team Head Dr. Pradeep Siriwardane, Prof. Sudath Weerasiri and Prof. Renuka Herath as principal researchers recently.  

Prof. Herath added the key benefits of the GEM approach in Sri Lanka. “Entrepreneurship is driving any economy by boosting its growth. Especially developing economies like Sri Lanka must focus more on promoting entrepreneurship. It should be a collaborative effort of policymakers, academics and the business community to blend their unique skills, knowledge and capacities in different perspectives. It will create new employment opportunities in every industry/sector and reduce poverty and enhance the economic well-being of the citizens of the country. Women entrepreneurs are somewhat neglected at present and lagging. To foster their entrepreneurial skills and empower women as the majority of its population is of utmost importance for an economy like Sri Lanka. It will further be a long-term solution to economic problems such as poverty, unemployment and slow economic growth.” 

Prof. Weerasiri further added, “The policymakers want to advance entrepreneurial activity in any country. But it is very difficult to make informed decisions without having the right data. Within this context, GEM national research attracts the interest of key stakeholders such as local authorities, state government, banks, insurers and other government institutions, which promote entrepreneurship. GEM research will serve as a set of diagnostic tools, allowing key stakeholders to make more informed policy decisions to foster entrepreneurship. Further, GEM research will contribute to a better understanding of the promoting factors and barriers affecting entrepreneurs locally and globally.”   Dr. Siriwardane pointed out, “I am honoured to lead the GEM national team.”