‘Sri Lanka@100’ platform launched to boost economic prosperity through growth of mid-sized firms

Sri Lanka@100, a private sector-led initiative focused on the growth of mid-market enterprises – funded by the U.S. government’s international development agency, USAID, and administered by Stax – was launched yesterday at the Galle Face Hotel. Gracing the occasion were Alaina B. Teplitz, U.S. ambassador to Sri Lanka and the Maldives, and Tharaka Balasuriya, State Minister of Regional Cooperation.

Stax Managing Director and Co-Founder of SL@100, Dr. Kumudu Gunasekara, in his welcome address, emphasized that the purpose of the initiative is to enable Sri Lanka to become a high-income country within 100 years of independence (by 2048) — with equitable and inclusive growth fueled by the value creation of mid-market firms. The platform will, in particular, support businesses in underserved segments.

Explaining the rationale behind setting up this platform, Dr. Gunasekara said, “While we may have been born in a developing country, we don’t have to continue to live in one. We are incredibly resilient as a people, as a nation. Our SME owners and entrepreneurs have weathered many storms to stay afloat. This platform is about helping them to now really powerfully steam ahead with ambitious growth plans, and about taking Sri Lanka’s development to the next level.”

Ambassador Teplitz echoed this commitment to economic development driven by the private sector. She noted that U.S. companies have invested over $300 million in Sri Lanka over the past several decades, and expressed hope that this platform would generate more opportunities for mutually beneficial trade and investments between the two countries. “You – the entrepreneurs, the business and government leaders expanding the impact and profitability of medium-sized businesses – are the engine that will power Sri Lanka’s prosperity, and the United States is investing in your drive and potential,” said ambassador Teplitz.

State Minister for Regional Cooperation, Tharaka Balasuriya, too expressed similar sentiments on the importance of supporting medium-scale businesses that have the power to recharge Sri Lanka’s economy. “Programmes such as Sri Lanka@100 help businesses fulfill their potential in an increasingly competitive environment, and will play a large part in the economy’s post-covid recovery,” he stated.

Sri Lanka@100 is now accepting applications from mid-sized firms that are seeking support for rapid growth. You can find the eligibility criteria, application process, and deadlines on the SL@100 website (www.srilanka100.lk) and via Facebook (srilanka.at.100) or LinkedIn (srilanka100) . If your organization is interested in joining the SL@100 ecosystem, you can find out more by calling +94-771-638-128, between 9 a.m. to 5 p.m. on weekdays.