Ekva LLC start-up accelerator launched
Ekva LLC, a US company with Sri Lankan roots on the hunt for entrepreneurs committed to building game-changing businesses, launched its accelerator on Wednesday and Thursday where 15 start-ups pitched for initial seed capital.
Carbon Engen by Gihan Mendis, Cinnamon Toothbrushes by Dilari Peiris, the independent project manager by Kalpana Fernando, an innovative online examination platform by Dilanka Sanjaya, a Durian village concept by Jithmi Nadushika, small-scale item export business by Taraka Adikari and immersive Smile Plus by Jairamanan Vijayaalayan were some of the innovative concepts and companies introduced.
Mr. Mendis, explaining to the Business Times about his company, Carbon Engen, said that it is an artificial intelligence based module to calculate the sequestered or retired carbon (carbon that is stored in the forest or natural plantations). “Most global companies are measured by their carbon footprint. So, it’s important for them to calculate their carbon footprint and how they do that on a forest or natural plantations where carbon is stored. Now it is done manually. The issue with this method is that forests are large, and one tends to miss out on trees.” This may render the wrong calculation, Mr. Mendis said, noting that Carbon Engen will eliminate these snags.
U.S. ambassador Julie Chung, the chief guest at the event said, “When talking about Sri Lanka, one of the go-to topics was the economic crisis but now it is time to talk about opportunity.”
Champike Munasinghe, COO Ekva told a Business Times on the sidelines of the event that the plan forward is to finalise the process to bring in the investments to set-up local entities and start the programme in Q3 2023 as scheduled. “Our investors are super excited with the number of start-ups we met and we have got great support from several corporate giants who have extended support in terms of resources, investment, and purchase guarantees for some of the products and services developed by these start-ups.”
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