SL start-ups to connect with Indian counterparts
Sri Lanka has plans to connect its start-up ecosystem with that of its neighbour, India.
Officials at the Ministry of Digital Economy said Sri Lanka is planning to connect with Start-up India, launched by the Indian government, to stimulate sustainable economic growth within the country. With Sri Lanka emphasising the need to energise entrepreneurial ventures to enhance the economy, the ministry is trying to implement a programme to attach local entrepreneurs and start-ups to the Indian ecosystem.
The ministry is trying to work out a programme where Indian start-up entrepreneurs can work in Sri Lanka and vice versa. Initial proposed plans include connecting with start-up missions in southern India.
According to Sri Lanka Association of Software and Service Companies, 55 per cent of Sri Lanka entrepreneurs’ start-ups are generating early revenues but only 14 per cent new start-ups are growing into new markets.
New IT innovations can reverse this low percentage to higher levels, analysts say. There are a lot of projects and a lot of themes that are ready to be defined for international capital but all these need to be scalable models which can go regional.
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