Building financial bridges for start-ups through policy
View(s):A government-backed fund, tax pass-through frameworks, and regulatory relaxations were recently discussed at a meeting with the Deputy Digital Economy Minister, Board of Information and Communication Technology Agency, BOV Capital, Lanka Angel network, Global Business Angels Network, and European Business Angels Network.
This meeting focused on developing policy frameworks to position the country as an attractive destination for start-up investment and facilitate investor exits.
The closed-door meeting presented an emphasis on branding Sri Lanka as a unique start-up destination that leverages its versioning tech ecosystem alongside its stunning tourism assets. “This dual appeal aims to attract talent and investors who appreciate both innovation and a high quality of life, thereby differentiating the country in the competitive global start-up market,” a media release said. Leaders from BOV Capital and LAN highlighted the importance of ongoing public-private collaborations, targeted regulatory improvements, and the success of the Venture Engine programme in Sri Lanka, towards becoming Asia’s next innovation hub.
“As Sri Lanka accelerates its journey towards becoming a global start-up destination, sustained cooperation among investors, government, and ecosystem stakeholders will be crucial to unlocking long-term economic and social benefits for the country,” said Prajeeth Balasubramaniam, Founder and managing partner of BOVCapital and founder of Lankan Angel Network.
The meeting’s outcomes were celebrated with a conclusion at a beachfront co-working space in Mirissa, reflecting Sri Lanka’s beautiful coastline and reinforcing the commitment to merging innovation with the country’s natural allure. The investor panel and Government representatives underscored the opportunity to promote Sri Lanka as a place where start-ups can thrive while enjoying an exceptional quality of life, from working on innovative technology to living near pristine beaches and scenic landscapes. This dual appeal is envisioned to differentiate Sri Lanka in the competitive global start-up market and attract talent and investors who value both innovation and lifestyle.
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