Business
Venture Engine 2021 applications to close on October 22
Sri Lanka’s pioneering startup acceleration program, Venture Engine, will soon wrap up its submissions phase, with applications set to close on October 22, 2021. This date is fast approaching, so don’t miss out on the chance to participate in 2021’s program, which will help startups immensely in accelerating during these unprecedented times.
Geared toward Seed and Growth stage startups that are interested in scaling, the Venture Engine program is also open to entrepreneurs opting to submit new, early stage business ideas with huge addressable markets. Visit www.ventureengine.lk to learn more about the application process.
Founded by BOV Capital and the Indian Angel Network, Venture Engine is partnered by the Lankan Angel Network (LAN) with the Ford Foundation being the program’s Platinum Sponsor in 2021.
Held over October, November and December 2021, and providing much needed support for the local startup sector during this pandemic, Venture Engine returns for its tenth year with plans to help innovative and scalable startups solve a genuine pain point.
This year’s Venture Engine program will, for the fourth time, offer up a very special Impact Entrepreneurship Award that highlights for-profit Social Enterprises. This initiative is once again being promoted by Indian Venture Capital firm Aavishkaar, a Gold Sponsor for Venture Engine 2021. Other sponsors and partners for 2021 include ICTA, SL@100, Council for Startups, SLASSCOM, HATCH, Dialog Axiata PLC, KPMG, PwC, AOD, Shift and CPP.
Following the closing of the Venture Engine 2021 application process, selected participants will go through several rounds of filtering and workshops, during which they will pitch their ideas to a panel of investors and domain experts.
According to BOV Capital Co-Founder, and LAN Founder, Prajeeth Balasubramaniam; “Sri Lanka can become a very powerful Technology and Innovation Hub, and BOV Capital will spend the next 15-20 years focusing on this mission. Given the country’s highly skilled tech talent, along with its geopolitical location accessing over US$ 7 trillion in GDP across India, SEA and GCC within five hours flying time, we believe this idea of ‘coming from Sri Lanka and building for the world’ is very real.”
BOV Capital has helped in developing the Sri Lankan startup ecosystem since 2009, having launched Venture Engine program in 2012. Over the past decade, this program has become a powerful launchpad for Sri Lankan startups, helping them launch and raise their first round of capital, as well as also facilitating access to world-class mentors and learning. With its mission to help the next generation of Sri Lankan entrepreneurs, while building extraordinary companies, BOV Capital will continue to partner with Sri Lankan founders through a series of funds over the next 10 years. Its ultimate goal being to help transform Sri Lanka into Asia’s next technology and innovation powerhouse.
Since it first kicked off 10 years ago, Venture Engine has become Sri Lanka’s most successful platform for accelerating, and growing, the country’s most promising new business ideas. Over a thousand Sri Lankan startups have been vetted and mentored by this program since its launch in 2012. To date, the Venture Engine program has attracted Rs. 2Bn+ in funding for 35 of Sri Lanka’s most exciting startups. Some successful Venture Engine startups include InsureMe, Roar, ZigZag.lk, Takas.lk, Saraii Village, Stripes & Checks, Skrumptious, Kimbula Kithul, Strive, PlushBox, Nithya, Extrogene, OMAK Technologies, LiveRoom, Intellocut, BusSeat.lk, IgniterSpace, House of Lonali and 24-7 Techies.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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