Business
A first for Sri Lanka and South Asia: Hatch awarded best co-working space in the world
Hatch, a Sri Lankan co-working space, startup incubator and accelerator was awarded The Best Co-Working Space in the world at the Global Startup Awards 2021. This is the first time a Sri Lankan or a South Asian organization has secured a win in this category, marking a momentous milestone for Sri Lanka’s startup ecosystem.
The award for best co-working space acknowledges a “co-working space that deserves the recognition of its services, support and resources to fast-growth startups, and for creating a culture and environment that fosters innovation and focuses on positively impacting the world.”
Hatch was selected from two rounds on a regional and global level from more than 18,000 nominees. To secure the coveted final win, Hatch won against five world-class global finalists who had been awarded regionally. The Global Startup Awards seeks to recognise the “future-shapers” of the world and has awarded companies like UiPath, Zendesk, Supercell, Turbine and Grab over the last decade.
For Hatch, the global accolade is a welcome validation of their work over the years. “We are thankful that within just three short years, our vision and efforts to be a platform for entrepreneurship and innovation is recognised on a global stage. This is a reflection of the evolution, phenomenal growth and capacity of South Asia’s ecosystem of startups. We’re excited to show the world that the emerging startup ecosystem in Sri Lanka is advanced, powerful, and is fostering the next generation of startups. The strength and resilience of any ecosystem lie with its community – our sincere appreciation goes out to all our partners, mentors and supporters who have contributed towards forging this vibrant ecosystem and placing Sri Lanka firmly on the map. Despite the challenges of the past years, we are hopeful for our journey ahead,” said Brindha Selvadurai-Gnanam, CEO and Co-Founder of Hatch.
With locations in Colombo 01 and Jaffna, what sets Hatch apart is its commitment to offering much more than physical space. Since its inception in 2018, Hatch has worked to nurture startups and offer a vibrant atmosphere in which entrepreneurs and disruptive organisations can thrive. With hybrid working options for corporates, SMEs and startups, Hatch’s spaces and facilities are designed to enable effective co-working and collaboration with an emphasis on user-friendliness and creativity. It has created positive impact and knowledge sharing through seven pioneering programs – Kickass, Green Energy Champion and HatchX FinTech to name a few. These bespoke programs are built with a deep understanding of the current needs of each startup and provide them access to local and international resources, networks and capacity building techniques. These programs lead to much needed market access opportunities beyond Sri Lanka.
Collaboration is at the core of Hatch’s ethos. Hatch actively partners with several private sector organizations, Sri Lanka’s public sector as well as international agencies to incubate and accelerate the growth of the Sri Lankan startups and are now working with regional ecosystems to nurture talent and create market opportunities.
Hatch fosters an inclusive culture that is supportive and agile, innovating new opportunities, including creating pathways for underrepresented entrepreneur communities. Their commitment to this was demonstrated through the launch of Sri Lanka’s first-ever women-focused accelerator program AccelerateHER during the World Entrepreneurship Week.
“Bringing a global platform for local entrepreneurs has been the forefront of our vision. This award enables us to continue to position Sri Lanka and Hatch as an entrepreneurial hub globally and showcases the depth and range of our work,” noted Nathan Sivagananathan, Co-Founder of Hatch.
The Global Startup Awards seeks to find, publicly recognise and connect dynamic startups on different verticals and maturity levels, investors, incubation/acceleration programs, coworking offices and influential founders, working closely with hundreds of local partners. Founded in 2012, it is the world’s largest independent startup ecosystem competition recognizing the best startups, individuals, VCs, co-working spaces, accelerators or incubator programs from all over the world.
“When Hatch was recognized as the best co-working space in the South Asian Region in 2020, I thought we had reached the pinnacle. However, to be on the same platform with great communities like ImpactHub and Mesh, whom we used to benchmark against, is a dream. With the right conditions and mindset, an effervescent community, mutually supportive partnerships and a whole lot of hard work, anything is possible. Hatch stands as a shining example of this,” concluded Jeevan Gnanam, Co-Founder of Hatch.
By Ifham Nizam
In a landmark move towards a sustainable energy future, Sri Lanka launched the Green Energy Acceleration Plan 2025-2030 at the Cinnamon Life Hotel in Colombo. The five-year initiative, spearheaded by the Ministry of Energy, aims to transform the nation into a renewable energy powerhouse through strategic investments in solar, wind and hydropower.
The event, held under the patronage of Prime Minister Dr. Harini Amarasuriya, brought together key stakeholders, including Energy Minister Kumara Jayakody, Deputy Ministers Eranga Weeraratne and Janith Ruwan Kodithuwakku, Secretary to the Ministry of Energy Professor Udayanga Hemapala and CEB chairman Dr. Tilak Siyabalapitiya.
Addressing the gathering, Prime Minister Dr. Amarasuriya emphasized that the initiative is not merely a policy document but a transformative roadmap for Sri Lanka’s energy sector.
“We are not just here to launch this project; we are here to transform our country into an energy powerhouse for the future. The Green Energy Acceleration Plan will expand renewable energy production and provide affordable electricity to all Sri Lankans, she stated.
The plan prioritizes reducing electricity demand, lowering costs and modernizing the energy sector through digital innovations and advanced energy storage technologies. A key aspect of the initiative is reforming energy regulations to promote efficiency and sustainability.
The government has outlined three critical focus areas for the energy sector overhaul:
Affordable & Reliable Renewable Energy – Expanding solar, wind and hydropower while minimizing carbon emissions.
Public Awareness & Digital Transformation – Educating citizens on the importance of renewable energy and modern technologies.
Advanced Energy Conversion Methods – Modernizing the sector with innovative energy solutions aligned with global advancement.
The Prime Minister stressed the importance of local and international partnerships to successfully implement the plan. She urged all stakeholders—including policymakers, investors and industry experts—to collaborate in achieving energy security and economic resilience.
With the Green Energy Acceleration Plan 2025-2030, Sri Lanka takes a decisive step towards energy independence, reducing reliance on fossil fuels and positioning itself as a regional leader in clean energy innovation.
This ambitious initiative marks a turning point in Sri Lanka’s energy landscape, setting the stage for a greener, more sustainable future for all.
President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal.
US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.
An additional 10% tariff on Chinese imports is also expected to come into force, leaving all three of America’s top three trade partners facing significantly higher trade barriers than just a few weeks ago.
“No room left for Mexico or for Canada,” Trump said at the White House on Monday. “The tariffs, you know, they’re all set. They go into effect tomorrow.”
Trump threatened to impose the tariffs – which is a tax that is added to a product when it enters a country – on Canada, Mexico and China in response to what he says is the unacceptable flow of illegal drugs and undocumented migrants into the US.
He had already imposed a 10% tariff on Chinese exports to the US last month, meaning goods from the country now face a levy of at least 20%.
All three countries have said they will retaliate against the US in response to the tariffs, raising the prospect of a widening trade war.
Canada’s Foreign Minister Melanie Joly said the tariffs are “an existential threat to us” with “thousands of jobs in Canada at stake”.
She said Canadian officials have had “constructive conversations” with the Trump administration to try to avert the 25% levies but warned “we are ready with counter tariffs”.
Trump has long maintained that tariffs are a useful tool to correct trade imbalances and protect US manufacturing.
He has largely dismissed concerns that the measures risk economic damage in the US, despite the close ties, especially in North America, where businesses have enjoyed decades of free trade.
“What they’ll have to do is build their car plants, frankly, and other things, in the United States, in which case they have no tariffs,” he added.
The three major indexes in the US sank after Trump’s comments. The Dow Jones Industrial Average ended the day down 1.4%, the S&P 500 sank 1.75% and the Nasdaq fell 2.6%.
Officials from Canada and Mexico had been in Washington in recent days, trying to avoid the tariffs.
Mexico’s president, Claudia Sheinbaum, appeared to send a message to Trump earlier on Monday when she said at a public event in the city of Colima that “Mexico has to be respected”. “Co-operation and co-ordination, yes, subordination, never.”
Canadian Prime Minister Justin Trudeau said on Sunday, from a summit on Ukraine in London, that Canada was “not an issue” as a source of illegal fentanyl in the US.
Only 1% of fentanyl seized in the US is thought to come from Canada, according to US data.
The Canada Border Services Agency (CBSA) says it has been “surging” its efforts to tackle fentanyl crossing into the US.
Canada has repeatedly said tariffs will harm both economies but added that it will defend itself if they happen.
Last month, it prepared a list of $30bn (£23.6bn) worth of American goods it said it would levy in response to US tariffs. Items on that list included everyday goods like pasta, clothing and perfume.
Canadian Internal Trade Minister Anita Anand met officials in Washington in recent days and said over the weekend there will be a response.
“We are steady at the wheel. We are prepared for any eventuality, but we will at every turn defend our country’s economy,” she told CBC News.
China’s state-run Global Times newspaper said that Beijing had prepared countermeasures, which would probably target US agricultural and food products.
President Trump has also announced a 25% charge on all steel and aluminium imports, which is meant to come into effect on 12 March.
In addition, he has threatened to impose custom “reciprocal” tariffs on individual countries, as well as 25% tariffs on the European Union.
[BBC]
The Italian embassy in Colombo celebrated Italian Design Day and The Days of Italian Fashion in the World by hosting Brenda Bellei Bizzi, the CEO of WHITE Milano, a renowned fashion tradeshow held during Milan Fashion Week. She collaborated with Colombo Fashion Week Summer 2025 in its 22nd edition presenting Sicilian designer Cettina Bucca’s Spring/Summer 2025 collection at CFW. Brenda Bellei Bizzi was appointed Ambassador for Italian Design in Sri Lanka in the 2025 edition of Italian Design Day.
Focusing on contemporary women’s wear design, WHITE became a significant platform for promoting emerging designers and sustainable fashion practices at CFW this year. Brenda’s discussions integrate well with the ethos of circularity in fashion, creating a fashion ecosystem that provides support for designers to enter the global fashion industry. Additionally, her discussions with fashion and design students at the College of Fashion & Design and fashion designers about opportunities at WHITE added momentum to their journey into the world of fashion on the global ramp.
Delighted to bring the unparalleled expertise of Brenda Bellei Bizzi to Sri Lanka, Ambassador for Italy in Sri Lanka Damiano Francovigh said, “Fashion and Italy are inextricably linked and having Brenda Bellei Bizzi with us to celebrate Italian Design Day and the launch of The Days of Italian Fashion in the World in Sri Lanka augments that premise. As the ambassador for Sri Lanka in the 2025 edition of the Italian Design Day, Brenda Bellei Bizzi’s collaboration with Colombo Fashion Week allowed us to showcase Italian fashion in this beautiful country.”
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