TRACE on point to make SL innovation gateway to South Asia
TRACE (Technologically Re-Awakening Culture of Excellence), a Sri Lankan organisation that promotes collaboration, creativity, and entrepreneurship through technology and innovation across disciplines, is in discussion with South Asian start-up echo systems and other global interested parties to transform Sri Lanka into an innovation gateway to South Asia.
“Discussions are ongoing with Indian, Nepalese, and Maldivian echo systems to create Sri Lanka as the South Asia Startup and Innovations Hub,” Dr. Sankalpa Gamwarige, Founding Director and current Senior Vice President of TRACE, told The Sunday Times Business recently.
He said more than 30 to 40 start-ups operating from TRACE have gone global. Amongst these, Magicbit offers STEM learning tools with hardware and software support, enabling students to create solutions in various fields like coding, electronics, IoT, robotics, and AI, promoting innovation and creativity beyond prototyping, and is exporting to more than 40 countries, Migara Amithodhana, co-founder of Magicbit, told The Sunday Times Business. The US, Singapore, Australia, and Japan have a high number of users, he added. The future plans for the company include becoming a leader in STEM education and project-based learning.
VeroxLabs, a medical device development company that designs, manufactures, and markets advanced laboratory equipment for Assisted Reproductive Technology (ART) and Research Laboratories, is revolutionising the in Vitro Fertilisation IVF industry with its cutting edge, technology-driven solutions to enhance outcomes of assisted reproductive technology, and has plans to go to Southeast Asia and South Asia.
Thushera Kawabata, Chairman of the company, told The Sunday Times Business that the company’s global footprint is an ambitious growth strategy. “As a leader in ART innovation, VeroxLabs is already active in the US and European markets, delivering state-of-the-art solutions that empower clinics and laboratories. We are now set to expand into Southeast Asia and South Asia, with Japan, Indonesia, and India as key target markets,” he said.
ChargeNET, Sri Lanka’s first EV charging network, with chargers that are fully designed and manufactured locally for electric vehicles using IoT technology, offering both home and commercial charging solutions, expanded to India and Georgia. “ChargeNET has already proven its capability to compete internationally. Its next target is the UK, where it plans to introduce its cost-effective, high-quality chargers into one of the world’s most mature EV markets,” Kusal Subasinghe, Director ChargeNET said.
Since 2014, TRACE has been expanding its ecosystem to various locations, beginning with TRACE Expert City, Colombo 10, and expanding to BREAD Centre – Makandura, TRACE Creator Space – Ratnapura, TRACE – HomeTree Co-Working Space and many more, he added.
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