The ‘Knowledge Conglomerate’, conceptualized and facilitated by MTI Consulting, was announced early this week. In a press release, MTI explained its concept. It said this is a multitude of knowledge based businesses that The Knowledge Conglomerate hopes to set-up in Sri Lanka.

A knowledge based business is one in which core value proposition of the business is knowledge based and one in which intellectual assets constitutes at least 75% of the capitalization, the statement said, adding that the Conglomerate plans to target businesses like web-based Business Models, E-Marketing, Technology, Marcom, Advertising, Design, Media Buying, PR, Fund Management, Private Equity Advisory, Financial Advisory, Market Intelligence, High-End KPO businesses, Executive Search, Executive Education and Training.

MTI said across the world knowledge based businesses are growing in size, importance and dominance. “Despite all what the doomsayers predict of the Sri Lankan business environment, we believe that knowledge-based businesses will grow in size, importance and dominance. The Knowledge Conglomerate is our far sighted response to this,” it said.

MTI said young Sri Lankan professionals will have the opportunity of starting up knowledge based businesses, what ‘we call Young Corporate Entrepreneurs’ which is an ideal opportunity to unleash the talent of the young professionals in Sri Lanka who wish to break the shackles of a conventional corporate job.

The consulting firm said it was looking at either setting up an Investment Fund and will be opening it to corporates and individuals with a strong and genuine interest in developing the knowledge based business.

“We will start with Sri Lanka, get the business model perfected and then quickly explore international opportunities,” the statement said.