Business
Sri Lanka’s startup ecosystem scales new heights with global validation
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.”
Business
Mattala Wildlife Unit to boost revenue, tourism and investor confidence
The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.
Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.
“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.
He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.
By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.
Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.
“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.
Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.
Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.
“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.
He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.
The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.
“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.
By Ifham Nizam
Business
Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry
Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.
The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students
Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.
All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.
Business
Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026
COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.
The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.
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