COYLE launches ‘I AM the Sri Lankan Entrepreneur 2024’ awards

By Ifham Nizam

The Chamber of Young Lankan Entrepreneurs (COYLE) with a diverse membership spanning over 20 industries, contributing some Rs. 750 billion to the national GDP, and employing over 300,000 individuals directly, and an additional two million indirectly employment, unveiled the ‘I Am the Sri Lankan Entrepreneur 2024’ awards, set to recognize the most exceptional entrepreneurs across the nation.

The event, scheduled for March 5, 2025, is designed to spotlight the bold vision and innovative spirit of Sri Lanka’s entrepreneurs who are making significant contributions to their industries and communities, said Thushira Raddella – Chairman COYLE.

Speaking at a press briefing at the Cinnamon Lakeside on Tuesday, he said: ‘Marking COYLE’s 25th anniversary, the awards ceremony is a crucial part of the Chamber’s broader mission to empower Sri Lankan entrepreneurs and promote their success, both locally and internationally.

Under the leadership of COYLE’s President, the Chamber has redefined its identity, evolving from the Chamber of Young Lankan Entrepreneurs to the Chamber of Lankan Entrepreneurs, recognizing the maturation of its members and its ever-expanding impact on the economy.

“We are more than just a Chamber; we are a brotherhood and a family,” the chairman said.

He added: ‘I Am the Sri Lankan Entrepreneur 2024 Awards’ will feature 65 distinct categories, aiming to recognize outstanding achievers in areas such as Best Young Entrepreneur, Best Woman Entrepreneur, Best Social Entrepreneur, Best Family Business Entrepreneur, Best Innovative Entrepreneur, and the prestigious Entrepreneur of the Year. The event will provide a platform for entrepreneurs from provincial regions to gain national and global recognition, aligning with COYLE’s mission to encourage local talent to scale internationally.

‘In a collaborative effort, the awards process will be independently managed by a panel supported by Ernst & Young, ensuring transparency and credibility. The awards celebrate those who have truly shaped Sri Lanka’s industries and are making a lasting impact on their communities.

‘Alongside these awards, COYLE has been rolling out a series of initiatives designed to foster the entrepreneurial ecosystem in Sri Lanka. This includes the Future Founders Project, which promotes entrepreneurial mindsets in schoolchildren, and the Young Lankans program, which creates regional platforms for SMEs to grow. Additionally, COYLE launched the COYLE Global program to facilitate local entrepreneurs’ global expansion, with warehouses established in the U.S. and future plans for the UAE and Australia.

Furthermore, he said COYLE is building an Entrepreneur Development Centre (EDC) in partnership with PIM, offering resources such as a state-of-the-art studio for podcasting, YouTube content creation, and even a space for students to meet with major local brands. The EDC aims to nurture entrepreneurs at all stages of their journey, providing access to a variety of facilities and mentorship.

‘The I Am the Sri Lankan Entrepreneur 2024 awards are also part of COYLE’s broader commitment to empowering the next generation of leaders. With applications now open until January 15, 2025, COYLE encourages all ambitious entrepreneurs to apply through the official website.’

Ernst & Young, representative Damitha Gamage emphasized the critical role the consultancy firm will play as a strategic knowledge partner, ensuring the awards process remains fair and transparent. “The integrity and transparency of the process are of utmost importance,” he said adding, “We will be involved from the very beginning, assisting with the evaluation process and ensuring that the most deserving entrepreneurs are recognized.”

The awards ceremony will recognize up to 65 different categories, each with unique criteria for selection. A distinguished panel of judges, including figures from various sectors, will be tasked with evaluating the applicants. Dr. Rohitha De Silva, Past Chairman of COYLE, highlighted that credibility is the cornerstone of the awards process. “We are committed to providing a transparent evaluation process,” he said. “We want to distinguish ourselves from the clutter of other award ceremonies.”

The Chartered Institute of Management Accountants (CIMA) Country Head Onalie Dissanayake expressed its enthusiasm for the initiative, with Sara Ansari a representative of the organization, emphasizing the alignment between the award’s goals and CIMA’s mission to help people and businesses succeed. “We look forward to providing a management accounting and business perspective in evaluating these awards,” she added.