Startups & Entrepreneurship
View all(9)📈 National Conference Focuses on Strengthening Sri Lanka's MSME Sector
• Strategic Collaboration: The National Enterprise Development Authority (NEDA), operating under the Ministry of Industry and Entrepreneurship Development, collaborated with the University of Peradeniya to host a national conference dedicated to empowering the country's Micro, Small, and Medium Enterprises (MSMEs) sector. • National Context: The initiative underscores a coordinated effort between state development authorities and academia to fortify MSMEs, which serve as a critical pillar for economic resilience, local employment, and industrial diversification across Sri Lanka. _Note: Based on initial provisional reporting._
📈 LIIN Empowers Over 150 Northern Province Women Entrepreneurs at Emerging Women Summit
The Lanka Impact Investing Network (LIIN) hosted the landmark Emerging Women Summit in Kilinochchi under the theme “Unlocking Markets and Capital for Women Entrepreneurs in Northern Province.” Funded by Global Affairs Canada and implemented alongside WUSC, the event aimed to drive regional resilience and inclusive economic growth. • Overall Participation: Over 200 stakeholders attended, including more than 150 women entrepreneurs alongside government officials, financial institutions, and private sector representatives. • Financing & Growth: High-level discussions targeted access to finance and financial readiness. Industry experts from the Export Development Board and DFCC Bank addressed critical themes including financial literacy, business registration, tax compliance, and building corporate credibility. • Market Access & Branding: Panels focused on expanding small enterprises into national and export avenues, highlighting the necessity of digital marketing, product quality, packaging, and meeting buyer expectations. • Sectors & Local Production: • A vibrant marketplace featured over 40 stalls showcasing handicrafts, clothing, jewellery, and locally produced food and beverages. • An Entrepreneurs Fashion Ramp spotlighted creations from more than 25 women entrepreneurs to enhance product visibility and market exposure. • Key Stakeholders Involved: Institutional support was backed by the Department of Industries, Industrial Development Board, NEDA, University of Jaffna, Commercial Bank, and several regional chambers. Organisers reaffirmed long-term commitment through the GRIT Project to continue capacity-building, expand access to capital, and develop sustainable market linkages for women-led businesses in the region.
📈 Navigating Bank Financing for Sri Lankan SMEs
The SME sector is a critical pillar of Sri Lanka's national context, generating over 50% of the country’s GDP and driving employment and sustainable growth. Despite enormous year-on-year credit growth in the banking sector, limited access to finance remains a primary obstacle for small businesses. • Overall Dynamics & Bank Risks Banks act as financial intermediaries, balancing depositor safety with lending risks. Financial institutions face high default risks with first-time entrepreneurs due to weak market conditions, continuous working capital losses, or the diversion of funds. • Key Areas of Bank Assessment To secure approval and avoid lengthy processing delays, SME borrowers must provide transparent documentation proving: Real loan size requirements and market potential. Profitability and detailed cash flow history/projections. Personal and business credit history via a Credit Information Bureau (CRIB) report. Borrower character and available collateral. • Available Credit Facilities Sri Lankan banks primarily offer three financing options tailored to varying business lifecycles: Overdrafts Term loans Revolving credit facilities (RCFs) • Strategies for SME Borrowers Applicants should compare interest rates, repayment periods, and flexibility across lenders. Building a successful, long-term relationship requires proactive communication, absolute transparency regarding financial losses, and regular data sharing to establish credibility with account managers.
📈 Union Bank Launches Phase 3 of National Entrepreneurship Development Program
• Overview: Union Bank has commenced the third phase of its National Entrepreneurship Development Program (NEDP). Launched in 2024, the program is a public-private partnership with the University of Moratuwa and the National Innovation Agency (NIA) aimed at boosting SME development. • Key Highlights: • Over 200 existing and potential business owners are participating in the current phase. • The program reported expanded nationwide reach, including an increase in participants from the Northern region of Sri Lanka. • Designed as a free initiative under the Union Bank School of Social Entrepreneurship, it focuses on upskilling entrepreneurs and supporting viable startup ideas through knowledge, innovation, and financial guidance.
🤝 National SME Revival Program Launched to Boost Sri Lankan MSMEs
The Sri Lanka Chamber of Small and Medium Industries (SLCSMI) and the National Chamber of Commerce of Sri Lanka (NCCSL) have jointly announced a collaborative forum to address the growth, sustainability, and competitive challenges of micro, small, and medium enterprises (MSMEs). • Program Details: Scheduled for 16 June 2026 from 2:00 p.m. to 5:00 p.m. at the National Chamber of Commerce Auditorium in Colombo 10. • Core Focus: Engaging cross-sector regional MSMEs in strategic dialogue to improve local competitiveness and expand their reach into global markets. • Economic Context: The initiative targets the MSME sector, which forms the vital backbone of Sri Lanka's national economy, focusing on capacity building and long-term financial sustainability. • Key Speakers: Features international economist Talal Rafi (former ADB/EU consultant) and senior chartered accountant Chaaminda Kumarasiri, providing insights on economic policy, business strategy, and financial management. • Participation: Registration and inquiries are open via Nishanthi (+94 762 555707 / 11 4741788) or Gerard (+94 77 4586940).
📈 5 Key Insights from Nepal’s First Billionaire for Sri Lankan Entrepreneurs
CG Corp Global Chairman and Nepal’s only Forbes-listed billionaire, Dr. Binod Chaudhary, shared critical business lessons during a session with the Entrepreneurs’ Organisation (EO) Sri Lanka, drawing from his 25-year investment history in the island's banking and hospitality sectors. • The "Shock-Readiness" Advantage: Dr. Chaudhary noted that operating in volatile markets like Sri Lanka and Nepal builds a unique resilience. Surving currency crises and political instability acts as a competitive advantage when expanding into stable economies. • Collective Accountability Over Heroics: Drawing from Japanese business culture, he emphasized that sustainable organizational growth relies on deep discipline and shared outcomes. Success happens when incentives and metrics align collective and individual goals. • The Flow of Value in Joint Ventures: Partnerships with global giants survive on continuously regenerating capabilities (a "flow" of value like networks or expertise) rather than one-off transactional assets (a "stock" like a contract), which quickly depreciate. • Clear Family Business Succession: To manage family succession effectively, Dr. Chaudhary advocates giving the next generation complete ownership over distinct business domains supported by a strong family constitution, rather than dividing them by functional roles. • Prioritizing Resilience Over Credentials: Highlighting talent acquisition, he advised entrepreneurs to look beyond elite academic credentials. True growth indicators are drive, adaptability, and a proven track record of performing under pressure. _Context_: Dr. Chaudhary’s CG Corp Global maintains a strong footprint in Sri Lanka, holding a majority stake in Union Bank and multiple premier hospitality properties, reflecting long-term conviction in the country's economic potential.
📈 Book Review: 'Made in Nepal' by Billionaire Binod Chaudhary
A newly published review of 'Made in Nepal' (2025) offers an insider look into the memoir of Binod Chaudhary, Chairman of CG Corp Global and Nepal’s sole Forbes billionaire, highlighting the realities of building a multinational from an emerging market. • Key Highlights & Business Scale: The memoir details the transformation of a modest family trading business into CG Corp Global, a multinational conglomerate famed for the Wai Wai instant noodle brand. The group has since diversified deeply into hospitality, finance, and infrastructure. • Market & Economic Context: Chaudhary outlines the immense challenges of operating in volatile emerging economies, navigating Nepal’s periods of intense political instability, the Maoist insurgency, shifting government policies, and severe logistical hurdles in a mountainous terrain. • Key Takeaways for Resilience: The book acts as a case study for business operations during national crises, including natural disasters, economic disruptions, and the global pandemic. It challenges international investment biases by proving that globally competitive enterprises can successfully emerge from overlooked regions. _Note: The review is authored by a prominent Sri Lankan corporate figure, the current Chairman of Trinity Steel Ltd and former Member of the Monetary Board of Sri Lanka._
📈 CCWE Fashion Week & International Summit 2026 to Debut in July
The Ceylon Chamber of Women Entrepreneurs (CCWE), in partnership with Hatton National Bank (HNB) as Title Sponsor, will host South Asia’s first fashion week dedicated exclusively to women entrepreneurs alongside an international summit from July 16–19, 2026, at Cinnamon Life, City of Dreams. • Overall Participation: Over 400 women entrepreneurs from all nine provinces of Sri Lanka, alongside international models, designers, and regional stakeholders, are expected to attend. The event aims to boost financial inclusion, digital transformation, and export link opportunities. • Program Breakdown: • Day 1: Inaugural session focusing on networking, ecosystem engagement, and showcasing multi-sector women-led enterprises. • Day 2: International Summit and South Asian Women Leaders Awards 2026, addressing trade barriers and access to finance. • Day 3: Export readiness, branding, and digital skills training sessions supported by United Nations regional agencies (Knowledge Partner: UN ESCAP-SSWA). • Day 4: Grand Finale fashion showcase and a South Asian Trade Show focused on regional market access. • National & Regional Impact: CCWE represents nearly 10,000 entrepreneurs island-wide. The initiative aims to transition grassroots talent into commercial enterprise. Title sponsor HNB highlights that it serves nearly 250,000 SME and micro-enterprises across Sri Lanka, with approximately 40% currently led by women.
📈 nVentures & TiE Colombo Bridge Mentorship Gap via "Founder’s Table"
nVentures and TiE Colombo have concluded the first cohort of "Founder’s Table," an initiative providing structured, one-on-one mentorship by matching high-potential startup founders with experienced business leaders in Sri Lanka. • Key Objective: The initiative addresses a critical barrier for first-generation Sri Lankan entrepreneurs: a lack of access to established professional networks, strategic guidance, and industry-specific expertise. • Sector Focus & Impact: Mentorship conversations centered on long-term strategy, finance, and go-to-market planning, moving founders beyond basic product development. Startups like Talvin AI and Cecrafto reported immediate clarity and early course-correction. • Ecosystem Growth: The program leverages Sri Lanka's "net-giving" business culture and TiE’s global network to connect local ICT/BPM and tech-driven entrepreneurs with international founders and investors, aiming to scale domestic startups into globally competitive companies.