31 January 2023 03:41 am
From left: Brindha Selvadurai- Gnanam - CEO, Co-Founder – Hatch, Wasanthi Manchanayake - Chairperson - HDFC Bank
In a one of a kind collaboration; Hatch, the award winning co-working space, start-up incubator and accelerator is partnering with HDFC Bank as their official banker, to give its community of startups access to an exclusive loan facility, the benefits of which will support these startups in strategically growing their business in the face of Sri Lanka’s challenging economic climate.
Accounting for 90 percent of all businesses, providing 45 percent of employment and contributing towards 52 percent of Sri Lanka’s GDP - Micro, Small and Medium Enterprises (MSME’s) are the backbone of Sri Lanka’s economy.
With a large majority of the local population living in rural areas where MSME’s are a major source of employment and income generation, they are critical to alleviating poverty. Supporting the survival and growth of local MSME’s must be a strategic priority in Sri Lanka’s recovery plan to ensure growth and development of the local economy and society.
This collaboration between Hatch and HDFC allows both parties to leverage their existing strengths to support and develop the local Sri Lankan economy by driving entrepreneurship.