Startup Nation Initiative kicks off to elevate local entrepreneurial ecosystem

Jeevan Gnanam PIC BY KITHSIRI DE MEL

Sri Lanka this week saw the launch of Startup Nation Initiative, a revolutionary effort to elevate the country’s entrepreneurial ecosystem to next level.

The effort was unveiled by Hatch, a leading start-up ecosystem, building on its rapid growth from having only 18 start-ups in 2018 to 700+ start-ups and 800 seats today.

The Startup Nation Programme is dedicated to discovering, building and funding the best start-ups in the country. Under this scheme, Hatch will be hosting a national start-up competition, where the top 100 of 1,000+ applicants will be shortlisted. The competition will feature deep tech solutions, B2B and B2C innovations, enterprise software and start-ups solving key national problems, with potential for global scalability. 

The MVP revenue-generating start-up that emerges victorious will be eligible for the best efforts to receive a funding opportunity of US $ 100,000, with the possibility of follow-on investment. 

Under this programme, Hatch will target businesses that are MVP revenue-generating. 

“Our mission is to drive the Sri Lankan start-up development by creating a system that opens up access to capital and global exposure. Through this initiative, we’re setting Sri Lanka up to become a top-performing contributor to the global start-up ecosystem,” said Hatch Co-Founder Jeevan Gnanam. 

The programme aims to encourage more start-ups to develop sustainable solutions that not only thrive locally but are scalable worldwide. From agriculture and green energy to new technology and social enterprises, the start-ups incubated in Hatch’s ecosystem are challenging industries while enabling a more robust and inclusive economy. 

The Startup Nation Initiative is not about finding the best start-ups; it is about shaping Sri Lanka’s economy through the development of innovation, investment and sustainability. 

Over the past 12 months, Hatch has engaged investors and partners from Singapore, Vietnam, Korea, Malaysia and Australia, testing an incubator model that integrates investment, market expansion and patent development.