Venture Engine 2017 progresses to ‘Workshops’ phase

Prajeeth Balasubramaniam, Director of the Lankan Angel Network and General Partner of BOVCapital, makes a presentation to Venture Engine participants on how to pitch to angel investors and venture capitalists

Sri Lanka’s entrepreneurship acceleration and empowerment programme Venture Engine has begun holding workshops for 23 companies with the true potential, and skill, required to make it all the way to its October 11 Finale. 

Now in its sixth year, Venture Engine 2017 recently held an open call for applications, which ended on August 14, 2017. This was later followed by a two-minute elevator pitch to judges that cut down the pool of 35 prospects even further, to 23.  

Currently, workshops are being provided so that participating teams can better understand what it takes to run a successful business, encompassing best practices in the legal, financial and management fields, as well as even offering training in soft skills like making effective presentations, etc., all of which is essential for any entrepreneur. 

Since 2012, Venture Engine has brought together investors with collective investments of over Rs. 2 billion across 25 local start-ups as part of a breakthrough effort to reshape the future of Sri Lanka and its economy through the injection of seed capital enabling local start-ups to scale globally. Venture Engine was founded by BOV Capital and the Indian Angel Network, and is a strategic partner of the Lankan Angel Network.

A sponsor from last year’s Venture Engine, prominent venture capital firm Aavishkaar, has comes on board as 2017’s platinum sponsor, while longtime supporters Orion City and Dialog return as Silver Sponsor and Official Telecommunications Sponsor, respectively.

 Importantly, 2017’s programme also offers an unprecedented opportunity for Sri Lankan entrepreneurs to directly access investment, expertise, and direct mentoring from some of the region’s most prominent investors via the Asian Business Angel Forum (ABAF) 2017, which will be held in conjunction with Venture Engine 2017.  Following the finale of Venture Engine 2017 on October 11, the ABAF program kicks off the next day itself at the Cinnamon Lakeside hotel with Venture Engine 2017 finalists getting the opportunity to make a short presentation to ABAF delegates.