Business
ICTA’s inaugural ‘Spiralation’ demo day features 10 startups
Entrepreneurship is required to be one of the top priorities in any nation, and it needs to be encouraged in order to strengthen the autonomous assets of a country. The world is currently confronting massive challenges with the pandemic’s existence and as a developing country, the Sri Lankan government is compelled to support entrepreneurs in their efforts to resurrect the local economy.
Sri Lanka’s Information and Communication Technology Agency (ICTA) has been active since 2010, nurturing Sri Lankan entrepreneurship. The ultimate purpose of this was to equip the Sri Lankan economy with a quality brigade of entrepreneurs to compete in the international arena. As the apex ICT institution of the government, ICTA initiated the Spiralation program, to support Sri Lankan tech startups in 2010 and is running its 9th cohort by 2021.
Reaching a major milestone, the ICTA has successfully concluded the inaugural Spiralation Demo Day on Monday 20th of December 2021 at ICTA, SPARX Lab. The Demo Day featured 10 Spiralation startups. These Spiralation startups have already passed their early stages and have gained traction in the market.
Starting off the proceedings, Sachindra Samararathne, Director, Startup Ecosystem Development, ICTA, stated, “This wonderful program (Spiralation) started off back in 2010. During our previous tenure, we witnessed the emergence of startups as we saw the growth of the startup ecosystem. Even though ICTA started off this program, it has now become the national incubator program as so many collaborators have joined hands”
The presence of potential clients and investors for these Spiralation startups at the Demo Day can be considered a significant fact. After the pitches, there was a business matchmaking session arranged by the ICTA. While there were also many dignitaries at the event from multiple industry verticals who were new to corporate innovations. This is a massive step that ICTA took to connect startups with corporates. Each startup was provided with five minutes to present their solutions, followed by an engaging five-minute question and answer session.
“Currently, we have a USD 1.5 billion IT industry in Sri Lanka, and we’re looking forward to making it USD 3 billion. We are not going to stop here. Hence, we’re planning to have our own technoparks. As the ICTA, we’re with you to ensure that we go along on this journey with you all, “said Mr. Oshadha Senanayake, Chairman, ICTA, while addressing the gathering.
Kicking things off, Keerthi Kodithuwakku, CEO and co-founder, Jendo Innovations, was the first to pitch his solution. Jendo is a preventative healthcare solution that is highly scalable and non-invasive that can identify abnormalities in the cardiovascular system and predict the risk of the disease. Migara Amithodhana, the head of Magicbit, was the next in line to pitch his solution, which is an all-in-one development platform built for innovation and designed to learn and practice internet-of-things, robotics, computer programming and so on.
Representing the 2021 Spiralation cohort, Urmila Chandrasekeram, co-founder of Mintpay, was the third in line to pitch his idea. MintPay is Sri Lanka’s first “buy now, pay later” platform where consumers are given the chance to pay for their goods in installments through online purchases. The next pitch in the line was conducted by Sanjeewa Pathirana, Founder and CEO of Nanosoft Smart Co-op, which is a fintech startup that is focused on empowering the Sri Lankan rural financial sector by creating a banking solution for cooperative banks in the island.
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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