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Sri Lanka’s startup ecosystem scales new heights with global validation

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President Anura Kumara Dissanayake, engaged with 30 top-tier investor-ready startups of Sri Lanka

The recent GSER 2025 shows Asia is leading the global innovation shift, with cities such as Bengaluru, Tokyo, and Hong Kong climbing the ranks. Importantly, Sri Lanka is part of this wave.

Sri Lanka’s entrepreneurial landscape is undergoing a transformation, one that is being recognized globally. The 2025 Global Startup Ecosystem Report (GSER), produced annually by Startup Genome, places Sri Lanka firmly on the map as a rising innovation hub in Asia.

Between July 2022 and December 2024, Sri Lanka’s startup ecosystem generated $821 million in ecosystem value, indicating a threefold increase since 2021. The country has consistently maintained a Top 5 global position for Affordable Talent, and currently ranks #4 in Asia, reflecting the ability to attract and retain high-quality technical talent at competitive costs. It also ranks in the Top 25 in Asia for Funding and Top 35 for Talent & Experience, signaling growing investor confidence and long-term sustainability.

The recognition is not accidental, as it is the result of deliberate, strategic action and Sri Lanka’s startup ecosystem is expanding its global footprint.

Among the many frameworks was the recent Disrupt Asia 2025, Sri Lanka’s premier startup conference and innovation festival. The event played a crucial role in catalyzing this momentum. Held over four days in September, the event convened over 5,000 participants, including 100+ investors and 43 venture capital and accelerator networks. In addition, 90+ participants from 25 countries participated in DisuptAsia. It also showcased 50 startups, facilitated live pitching, and launched a $50 million Fund of Funds to support mission-driven entrepreneurs.

The work done through Disrupt Asia is causing ripple effects already visible. The Board of Investment (BOI) has approved a flagship scheme allowing high-potential digital startups to reinvest a significant percentage of FDI capital in global subsidiaries while retaining their IP in Sri Lanka. The Securities and Exchange Commission (SEC) is working towards a new venture capital fund structure to attract foreign VC funds to Sri Lanka.

Moreover, the Government of Sri Lanka has committed $5 million in seed capital to the Digital Fund of Funds, with $45 million to be mobilized from private sources.

Scaling to new heights, Sri Lanka launched its National AI Policy in 2025, setting the foundation for an AI-driven digital economy. The strategy aims to build infrastructure, talent, awareness, and support, integrating AI to enhance public services and applications.

Sri Lanka also established a strategic AI partnership with AI Singapore in July 2025 to upskill local professionals, establish advisory support in AI governance, and share knowledge via joint research and development projects.

In September, the country hosted its first AI Expo 2025, bringing global tech leaders to Sri Lanka. The event featured live AI demonstrations in healthcare, education, and agriculture.

Currently, sectoral strengths in Agtech, Fintech, and AI are driving growth, supported by government-backed accelerators. Initiatives such as the GoviLab Agritech Accelerator is already in operation, while the Unique Digital ID rollout is underway.

These reforms are more than policy shifts. They are foundational steps toward building a more robust investment ecosystem. With GSER 2025 highlighting Sri Lanka’s strengths, it also highlighted the need for deeper funding flows. The relatively low volume of early-stage investment compared to global averages is a call to action, and Disrupt Asia has responded by creating the infrastructure, visibility, and investor engagement needed to change that trajectory.

Expanding the country’s global startup footprint, delegations have participated in the StartupTN Global Summit 2025, and are preparing for the Asia Berlin Summit 2025, WebSummit Qatar, LEAP Saudi , and Echelon Singapore in 2026. The main objective of these engagements is to ensure strong ecosystem branding for Sri Lanka.

Sri Lanka is working towards building structural advantages, such as faster incorporation, stronger IP protection, VC‑friendly regulations, and a Virtual Special Economic Zone, to become an attractive destination for globally oriented startups

With over 12,000 ICT graduates annually and a vibrant culture, the country is also becoming a magnet for knowledge-based services and global talent.

The reforms now underway are strong launchpads. With investor follow-ups in progress and startups being nurtured for scale, 2026 promises to be a year of accelerated growth. Sri Lanka’s startup ecosystem is far from evolving, it is ascending, showcasing resilience, ambition, primed to scale, truly reflecting ‘An Island Rising’.

Marc Penzel, Founder and President, Startup Genome said, “Sri Lanka is solidifying its position as a rising innovation hub powered by exceptional technical talent, business-friendly policies and innovative government support. Its strategic location coupled with emerging focus on AI bolstered by new digital infrastructure and regulatory sandboxes, enable founders to innovate and scale. We are honored to continue our long-term partnership with ICTA to spotlight Sri Lanka’s momentum in this year’s Global Startup Ecosystem Report and to support the ecosystem as it continues to scale globally.”



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Business, healthcare and civic leadership unite to drive Sri Lanka’s fight against cervical cancer

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Dr. Nadija Herath addressing the gathering at Dilmah Genesis

In a powerful demonstration of how responsible business, public healthcare and civic leadership can work together for national good, Sri Lanka this week renewed its commitment to eliminating cervical cancer through an expanded screening programme backed by corporate funding, Rotary leadership and the Ministry of Health.

The initiative, supported by Dilmah, the Rotary Club of Colombo, the Family Health Bureau and the Sri Lanka Cancer Society, aims to strengthen nationwide HPV DNA screening, public awareness and prevention efforts at a time when cervical cancer continues to claim hundreds of lives annually despite being one of the most preventable forms of cancer.

Dilmah Chairman/CEO Dilhan C. Fernando said the programme reflects the values of his late father, Merrill J. Fernando, who believed companies exist not merely to generate profit, but to create lasting value for society.

He added:”Businesses do not exist to make profit. Businesses exist to create value. Value begins with people and livelihoods, continues through nature, and only then earns the right to secure economic value.”

Fernando announced a fresh commitment of Rs. 50 million this year, which will fund 20,160 screenings, following an earlier Rs. 75 million pledge made in January 2024 under a Memorandum of Understanding signed with the Ministry of Health and Rotary.

“That value may seem like a big number, but it is insignificant when you consider that it has saved thousands of women from the scourge of cancer,” he said.

He described the continued deaths from a preventable disease as deeply troubling.

“Learning that so many women were losing their lives annually to cervical cancer was something really quite abhorrent to us,” Fernando said.

Representing the Rotary Club of Colombo, K.R. Ravindran said the campaign is proof that strategic partnerships can change national health outcomes.

“This is not a discussion. This is a promise of early detection,” Ravindran said. “Cancer, especially cervical cancer, does not arrive with a bell ringing or a warning. It whispers, and so often by the time it is heard, it is too late.”

He said Rotary’s own experience operating early detection centres for breast, cervical and oral cancer had shown the life-saving value of screening.

“Early detection is not just saving lives. It transforms fear into hope, into possibility,” he said.

Ravindran noted that Sri Lanka’s economic crisis had once threatened to halt testing services because of shortages in funding for diagnostic kits, but private sector intervention prevented disruption.

“Without the money, the whole thing would have gone awry. That is when Dilmah stepped in,” he said.

“They did something far greater than simply giving money. They made scale possible. They made continuation possible. They made impact possible.”

Ravindran expressed confidence that Sri Lanka can become one of the first countries in the world to eliminate cervical cancer as a public health threat by 2030, citing the nation’s literacy, public health network, school vaccination system and midwife service.

“I think this country can become one of the first countries to be rid of this disease,” he said.

Consultant Community Physician Dr. Nadija Herath of the Family Health Bureau said cervical cancer is caused mainly by persistent infection with the Human Papillomavirus (HPV), but can be prevented through vaccination and early detection.

She said Sri Lanka’s Well Woman Clinic programme, launched in 1996, screens women primarily in the 35 and 45 age groups, and is now expanding the use of HPV DNA testing, which is more accurate than conventional cytology methods.

“The most important thing about this cancer is that it is preventable,” Dr. Herath said. “If pre-cancerous changes are identified early, they can be fully treated and women can live normal lives.”

She said new funding would also support outreach clinics, especially in workplaces and underserved areas.

President of the Sri Lanka Cancer Society Anoja Karunaratne said awareness remains a major challenge, with stigma and fear discouraging many women from seeking screening.

“We need to take this message beyond hospitals and clinics—into schools, workplaces, religious institutions and community groups,” she said.

She stressed that women should view screening as a routine part of healthcare rather than something to fear.

Speakers at the event said the collaboration stands as a model for corporate Sri Lanka, showing how businesses can contribute meaningfully to national wellbeing.

Fernando praised Sri Lanka’s healthcare system for continuing to innovate despite adversity.

“Whatever anyone may say about systems or governance, the fact is Sri Lanka’s healthcare system has an enviable track record,” he said.

By Ifham Nizam

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Seylan Bank reports PAT of LKR 2.91 Bn in Q1 – 2026

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The Bank recorded a Profit Before Income Tax (PBT) of LKR 4,548 Mn in Q1 2026, against LKR 4,199 Mn reflecting a growth of 8.31%.

For the three months ended 31st March 2026, Profit after Tax recorded by Seylan Bank was LKR 2,906 Mn with a growth of 5.25% against LKR 2,761 Mn recorded in the corresponding period of 2025.

Statement of Financial Performance

Net interest income increased from LKR 8,587 Mn to LKR 9,734 Mn, an increase of 13.37% over the previous year for the 3 months ended 31st March 2026 mainly due to the significant growth in bank’s assets base over the last 12 months from LKR 785 Bn as end of Q1 2025 to LKR 943 Bn as at 31st March 2026. The Bank’s Net Interest Margin (NIM) also moderated from 4.50% in 2025 to 4.23% during Q1 2026.

Meanwhile, the Bank’s net fee-based income recorded a growth of 24.04%, increasing from LKR 1,863 Mn to LKR 2,311 Mn, primarily driven by fee income from Cards, Remittances, Trade, and other financial services.

Other income captions comprising of net gains / losses from trading, net gains from derecognition of financial assets and net other operating income, reflected a reduction mainly due to decline in mark to market gains from government securities and equity investments with the prevailing market interest rates and price movements, however exchange income showed an increase, due to higher forex trade volumes.

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The power of soft skills: Transforming students into future leaders with SLIIT Soft Skills+ 2026

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The soft skills development program is a major project carried out under its Corporate Social Responsibility (CSR) agenda, by the SLIIT Business School. This program, intended to go beyond typical classroom instruction, focuses on giving school going students the fundamental life skills they need to thrive in a world that is becoming more competitive and dynamic.

The program, which is intended for students in Grades 11 through 13, is open to participation from schools under the Sri Lankan government, private, and foreign institutions. The inclusive process ensures that students from different educational backgrounds have equal opportunities to improve their personal and professional competencies by enrolling for the program.

The initiative’s main goal is to close the knowledge gap between academia and real-world application. In addition to encouraging creativity, innovation, and an optimistic outlook, it places a strong emphasis on the development of vital soft skills like problem-solving, collaboration, and communication. By using this strategy, the program hopes to develop well-rounded, future-ready people who can overcome obstacles in the real world.

The preliminary stage and the Grand Finale are the two primary phases of the Soft Skills+ 2026 program. The program starts with an online teacher training workshop on April 28, 2026. In order to ensure long-term impact and sustainability, this recently added component focuses on improving instructors’ capacity to mentor and support students in the development of soft skills.

The preliminary rounds will be held virtually on May 9, 2026, across three regions: Malabe, Kandy, and Matara. These sessions include competitions focused on activities, quiz-based evaluations, and interactive workshops on soft skills. All exercises and questions are presented in Sinhala, Tamil, and English to encourage inclusivity, enabling students to participate in their favorite language with ease.

The top 50 teams from the preliminary stages will move on to the Grand Finale, which will take place at the SLIIT Malabe Campus on May 16, 2026. In order to ensure fairness and transparency, this final round will include advanced competition rounds and through evaluations carried out by a team of experienced and knowledgeable jury panel.

Certificates will be given to all participants, including instructors and children, and special gifts will be given to the finalists. In recognition of their exceptional performance and commitment, winning teams will also receive monetary awards.

With 50 teams participating in the grand finale and strong representation from across the island, the 2025 program demonstrated its growing impact. Last year’s winner was from St. Servatius College, Matara while Sivali Central College in Rathnapura was the runner-up.

This program, which has received official Ministry of Education clearance, is a nationally recognized platform that supports educational goals and continues to mold future leaders. For more details contact Mr. Ranitha Weerarathna, Senior Lecturer – SLIIT Business School via Tel – (+ 94) 0776503079 / 0764403664 or Email – ranitha.w@sliit.lk

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