Asia poised to generate half of the world’s GDP by 2050
While technology and the start-up ecosystem is driving the world with innovative products and services, Asia is poised to generate half of the world’s GDP by 2050 and account for more than half of all research and development (R&D) investments by 2030.
These comments were made by Sook Hoon Cheah, General Manager of Southeast Asia New Markets at Microsoft during the launch of the ‘Microsoft for Start-ups Founders Hub in Sri Lanka’ held at the Kingsbury Hotel in Colombo on Thursday.
Ms. Cheah delivered the keynote address under the theme ‘made in Asia’ to ‘born in Asia’ to showcase the potential of the ambitious start-up ecosystem in Sri Lanka to reach global heights with the power of Microsoft technology.
She said, “With the power of Microsoft Cloud, start-ups are able to do more with less across their entire lifecycle. We see massive potential to be unlocked in Sri Lanka and the role they play in reviving the country’s economy.”
‘Microsoft for Startups Founders Hub’ was launched in Sri Lanka to empower local start-up founders to turn their ideas into reality and help boost the economy. The hub is designed to remove traditional barriers to building a company and help founders innovate and grow, regardless of their background, location, progress or passion. Budding start-ups in Sri Lanka can now gain access up to US$300,000 in benefits which includes access to proprietary technology tools such as Azure Credits, Microsoft 365, GitHub Enterprise, Visual Studio Enterprise, Power BI Pro, Power Platform Power Automate and so on.
The hub is centred on three key areas; unlocking innovation for all, technology benefits that grow and access to mentorship and guidance.
Microsoft Sri Lanka and Maldives, Country Manager, Harsha Randeny said: “In spite of a very challenging economic landscape, investment towards the local start-up ecosystem of Sri Lanka grew at 13 per cent in 2021. With the launch of the hub we are enabling incubation at scale for local start-ups to fuel the economy and take innovation from Sri Lanka to the world stage.”
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