Innovate Lanka to provide boost for start-ups and SMEs with launch of 2022 competition

Innovate Lanka, a one-stop shop for entrepreneurs, is gearing up to select, fund, mentor and accelerate the budding start-ups and SMEs, with the launch of its 2022 competition. 

The initiative, a platform that assists start-ups or SMEs with an innovative idea, helping them with funding, accelerating and mentoring until maturity or exit, is open to receiving applications from today till the end of August. 
This competition aims to fund the early-stage start-ups and SMEs that clearly solve a problem with an innovative solution for a large addressable market. Innovate Lanka is open to any start-up across all sectors islandwide in all three languages. 

The selected applicants or entrepreneurs will be called for a pitching and Q&A session on September 2, 2022 and the finalists shall be selected to participate in the Innovate Lanka 2022 Demo Day, which is scheduled to be held on September 9, 2022, at Elegance, Colombo.  

While the winner of Innovate Lanka 2022 will enter the Global Entrepreneurship Network (GEN)-Global Programme, where they will take part in the Entrepreneurs World Cup 2022 Regional Programme, all entrants will have the opportunity to secure funding via LAN and its extensive global network of international angel investors and venture capital firms.  

The programme will have a number of business domains and tech experts to mentor, accelerate and assist them with go-to-market (GTM). 

Innovate Lanka is an initiative of the Council for Startups (CFS) of the Ceylon Chamber of Commerce (CCC), Lankan Angel Network (LAN) and Sri Lanka Association for Software Services Companies (SLASSCOM). 
Information and Communication Technology Agency (ICTA), 

Export Development Board (EDB) and Industrial Development Board (IDB) are the National Partners and the CFS of the CCC is the Industry Advocate. LAN, Indian Angel Network, Global Business Angels Network, BOV Capital, Venture Engine and nVentures are the Investment Partners. 

KPMG and PWC will be the Knowledge Partners. Meanwhile, SLASSCOM and Sri Lanka @100 are the Ecosystem Partners. Wijeya Newspapers, Roar Global, The 87 Agency and LMD are the Media Partners and Are We Legal and Heritage Partners are the Legal Partners.

The American Chamber of Commerce in Sri Lanka (AMCHAM-SL) is the Business Network Partner, whereas Venture Frontier, Hatch, Lanka Accelerator, Good Life X, Centre for SMEs of the CCC and Youth Business Sri Lanka (YBSL) are the Accelerator and Incubator Partners for this initiative.