LAN, GBAN promote SL start-ups globally via Entrepreneurship World Cup
View(s):Lankan Angel Network (LAN), the country’s largest network of angel investors, has been appointed the Entrepreneurship World Cup’s Official National Organiser for Sri Lanka.
This long-term, strategic initiative follows on from LAN joining the Global Business Angel Network (GBAN) as a committee member. GBAN is affiliated with the Global Entrepreneurship Network (GEN). LAN and GBAN aim to take local entrepreneurship to a global level with the Entrepreneurship World Cup’s Global Hosts MISK, GEN and TGELF, LAN said in a media release.
The Entrepreneurship World Cup (EWC) will offer Sri Lanka’s national champion, to be selected in July, the chance to pitch on a global stage for a share of US$1 million in cash prizes, plus additional investment opportunities, and another $750,000 in in-kind support. EWC in 2020 featured 175,000 entrants from 200 countries.
According to LAN Chairman Mano Sekaram, “Lanka Angel Network is proud to be entrusted with organising the national finals for the Entrepreneurship World Cup, a testament to our longtime efforts in pioneering and building the local start-up ecosystem and promoting local talent worldwide. We are also pleased that the top start-ups of Sri Lanka are participating in this endeavour, especially considering the challenging business environment experienced by so many both here and abroad.”
With a goal to grow to 250 angel investors by 2025, with 30 percent of its membership from abroad, LAN’s future is closely linked with the growth of the local start-up ecosystem. During these trying times in particular, LAN relies on the deep domain expertise of its unmatched pool of mentors and investors to assist start-ups in traversing the difficult business environment they are experiencing. Most importantly, LAN also strives to provide start-ups with networking, training, and even follow-on funding, an essential part of its efforts to grow its portfolio.
EWC is more than just a global pitch competition with a shot at life-changing prizes. It elevates entrepreneurs from all stages—idea-stage, early-stage, growth-stage or beyond— by providing them with tools and resources to grow their venture. EWC Accelerates is a virtual training and mentorship programme that helps entrepreneurs hone their skills and increase their chances of winning their national competitions – as well as those who advance to the Global Finals.
The EWC online platform also offers all contestants who complete an application, access to more than $25,000 in perks from partners such as Google Cloud, Hubspot, Stripe and more.
National Finals competitions are held through June and July 2021. In November 2021, 100 start-ups will be flown to Riyadh, Saudi Arabia to participate in the EWC Accelerates programme for an intensive start-up bootcamp and to compete in the EWC Global Finals.