Business
Council for Startups of The Ceylon Chamber of Commerce, supporting startups to attract investments and gain momentum
In line with the recently concluded Sri Lanka Investment Forum (SLIF) 2021 oganised by the BOI, The Ceylon Chamber of Commerce and Colombo Stock Exchange, the Council for Startups held a webinar on the Startup Ecosystem Landscape to attract investments via the local Tech and Innovation opportunities. It was noted that in a thriving /robust startup ecosystem a good investment climate and deal flow is critical. As such, the aim of the webinar was to showcase the local Tech and Innovation potential and to boost the venture funding ecosystem in Sri Lanka. The panelist included Mr. Rajan Anandan, Managing Director, Sequoia Capital; Mr. Supun Weerasinghe, Director/Group CEO, Dialog Axiata PLC; Mr. Dumith Fernando, Chairman, Asia Securities; and Mr. Prajeeth Balasubramaniam, Chairman, Council for Startups of The Ceylon Chamber of Commerce moderating the session.
Over the past 10 years Sri Lanka on average has had venture funding of approximately $2.5M per year where leading countries spend close to 0.5% of GDP per annum. This equates to $400M per annum in Venture Funding for Sri Lanka. Thus the objective during the session was to see how Sri Lanka could gradually increase this funding by at least targeting 0.1% of GDP ($80M) for 2022/2023 by highlighting the following:
1 Geopolitical location – Connected with over 8 trillion GDP within 5-hour flying time which makes it easier for a startups to scale.
2 Untapped market – Still at an early stage with only approximately 400 startups, thus becoming attractive compared to the region for investors that are early movers.
3 Tech talent – Small in numbers but proven talent that can build world class products to compete globally.
4 Brain gain – Sri Lanka has been ranked second best for digital nomads in 2021 ahead of Singapore by Club Med. This study by the French travel company looked at cost of living, safety, average internet speed, presence of nature and wellness spots, as well as adventurous activities in each country. There is plenty of young Lankan talent retuning back to the country and many successful startups in Sri Lanka were founded by them. These entrepreneurs studied in the best schools globally, worked for a few years and came back. They have a world view but want to be in Lanka.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
