Technology startup 'Spiralation', a support of initiative of the Information and Communication Technology Agency of Sri Lanka (ICTA) was launched recently in Colombo. The initiative comprises a Grant Scheme that promotes innovation in a spirit of collaboration as emphasized by the term 'Spiralation'.

Under this grant scheme new technology startup companies with less than a two-year post-registration existence and less than 10 employees could aspire to have 75 per cent of their total project cost reimbursed.

The programme targets new business enterprises or those in the very early stages of development and aims at encouraging entrepreneurs island-wide to launch new technology products and/or services. Thus the programme promotes the launch of these products and services which are transformations of their new business ideas while addressing market gaps and assisting new ICT related innovations.

(From left) University of Moratuwa Faculty of Engineering Immediate Past Dean and Institute of Engineering of Sri Lanka President Elect Prof. Ananda Jayawardena (delivering his address), ICTA Private Sector Development Programme Head Fayaz Hudah, Intel Corporation Sales and Marketing Group and World Ahead Programme General Manager John Davies, ICTA Director/Legal Advisor Jayantha Fernando, Microsoft Sri Lanka and Maldives Country Manager Sriyan De Silva and University of Colombo School of Computing Former Director Dr. Ruwan Weerasinghe at the head table

Under the scheme registered technology businesses in Sri Lanka less than two years in existence and with less than 10 employees can apply for a grant. This grant will cover 75% of the total project cost or a maximum of USD 5,000 whichever is lower. With the grant the new companies can subsidise infrastructure, capacity building, business development and any other third party costs. ICTA informs that up to 20 such companies may be supported under this programme in stages.

Explaining the term "Spiralation" a senior ICTA official said: "This initiative called Technology Startups 'Spiralation' launched in the presence of the programme's partner 'ecosystem' aptly holds in its nomenclature the term 'spiralation' thus denoting the 'spiral' model concept that is specifically significant in this grant scheme. The 'spiral' model concept indicates an upward spiral model that grows with 'Innovation' and the term 'Spiralation' encompasses the spiral of innovation which is the true nature of the programme. The partner 'ecosystem' laid out by ICTA for the programme consists of more than 20 partner organisations including international technology providers, prestigious higher education institutions and industry organizations (both ICT and other). This will give high exposure to the selected applicants in various domains".

The selected applicants will also be mentored through the programme's impressive partner ecosystem in areas of expertise they should acquire in order to develop businesses into successful enterprises. This line up of partners includes the University of Moratuwa, the University of Colombo School of Computing, the Indian Institute of Technology's Rural Technology Business Incubator, Boston University, Intel, Microsoft, Oracle and IBM.

Speaking on the occasion ICTA Director/Legal Advisor Jayantha Fernando pointed out that the grant scheme would pave the way towards a new ICT entrepreneur culture offering it share to make Sri Lanka the knowledge hub of Asia: "This ICTA initiative for Technology Start-ups will be the foundation towards creating a new culture of entrepreneurship within the ICT industry.

It will also contribute towards achieving the objectives of the eSri Lanka vision and transforming our country into a knowledge economy as mandated in the "Mahinda Chintana- Vision for the Future".
ICTA Private Sector Development Programme Head Fayaz Hudah elaborating on the grant scheme stressed the importance of innovation:

"The Government places great emphasis on the need to support innovation driven small enterprises and the need to build a knowledge based society for the future. Our collective efforts contribute to this national effort."

. The ICT Agency invites organisations who are interested and capable of enriching the programme further to contact ICTA for discussions on partnering. The applications for the programme will be available for download from the first week of August 2010 via http://www.icta.lk/icbp and aspiring applicants with an eye for innovation and inkling towards entrepreneurship are encouraged to apply.