Tech Startup Program Spiralation opens for 2021 applications
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Spiralation Cohort 2020
Sri Lanka’s apex Government body in driving the tech-startup ecosystem, the Information and Communication Technology Agency of Sri Lanka (ICTA) is now calling applications for its national startup initiative ‘Spiralation’ for the ninth year running.
The Spiralation series has so far supported more than 90 successful startups across multiple industry verticals -including health, finance, agriculture, education and logistics-and has generated more than 500 job opportunities.
The latest round, called as Spiralation 2021 Tech Startup Support Program sets the stage for tech startups to be groomed by offering comprehensive technical and business training hosted by industry experts.
Founded in 2010, Spiralation, which acts as an incubator and accelerator program, aims to promote, encourage, and support tech startups and innovation within Sri Lanka with a 1.5Mn grant for each startup in a cohort. As a startup joins the Spiralation program, the grant will be split and presented according to its achievement of already set targets, based on predefined milestones. Startups will get continuous support from the resource pool throughout the incubation/ acceleration period and beyond.
Organizers in a statement said since its inception, the Spiralation evaluation process was able to set the benchmark for what was expected by an early-stage startup to be part of an incubation programme.
“While those who got selected were able to accelerate their business, those who didn’t, did not leave empty-handed. They had many things to ponder about their business which also led to many to pivot and find the right path. Spiralation cohorts also created the funnel for angel investors who invested via LAN, Crowdisland, or on their own. It also helps groom startups to take their products globally bringing in export revenue and as result creating more than 700 jobs for knowledge workers,” the organizers said.
Many tech startups that were supported by Spiralation are now successfully operating in fields such as quality education, agriculture, health and wellbeing, banking and financial services, fashion and apparel, and infrastructure.
The organisers added the importance of entrepreneurs in the market saying, “Entrepreneurs solve problems, they see a need in the market and they fulfill it. We have seen the technology industry providing high-paid job opportunities to our youth due to entrepreneurs who took the risk 15 years back. ICTA is now, creating the ecosystem for the next generation of entrepreneurs who will provide the next 100,000 job opportunities and contribute to the economy of this country.”
To be eligible, applicable startups need to be listed in StartupSL Platform. New startups (registered or looking to register) can apply and also registered companies that are less than 3 years (calculated as of application date) in existence are also eligible. All applications should be submitted through the registration form in spiralation.com and applications submitted in any other method will not be accepted.
Applications are open till 10th May and interested applicants are invited to register via https://spiralation.com
As the catalyst in shaping the tech startup ecosystem of Sri Lanka, ICTA pioneers in supporting startups via Spiralation and all other startup related activities in its ‘Startup Ecosystem Development’ Strategic Business Unit under the Digital Economy Pillar of ICTA. It is initiated with the view of developing new tech-based business ventures in the country, increasing startup quality, providing early-stage funding, knowledge, and everything a startup needs to run a successful business.