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Innovate Lanka concludes with Demo Day and Finale

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Innovate Lanka recently concluded with its 2022 Demo Day and Finale, where 10 finalists pitched their exceptional ideas to a high profile panel that encompassed Corporate Leaders, Domain Experts and Angel Investors.

Adjudged this year’s winner, AGC Innovate (Pvt) Ltd is a sustainable initiative pioneering technology to convert non-recyclable waste plastics into an industrial raw material called Plastic Modified Asphalt Concrete (PMAC) in Sri Lanka, which will be used for paving roads, car parks and yards. Since its inception in 2018, the company has already completed more than 15 projects, including for RDA, PRDA, Cargills (Ceylon) PLC, John Keells Holdings (Cinnamon Life and Crescat), CBL, French Embassy, etc.

The runner-up for 2022 was DirectPay (Pvt) Ltd, which connects everyone digitally, bringing them one step closer to a cashless society, by introducing modern payment methods for the financial and telecom industries. DirectPay is a FinTech application that provides direct debit facilities, Internet Payment Gateway and LankaQR and JustPay (National QR) technologies to enable customers to make payments across any boundary.

Also awarded was the “Best Female Entrepreneur” title, which was handed out to Bluefish Ceylon (Pvt) Ltd. This fish food manufacturer is dedicated to providing ready-to-eat, flavourful, and nutrient-dense fish products made with hand-picked natural ingredients with an authentic and distinct taste, while adhering to 100% hygiene standards.

A national initiative bringing together Sri Lanka’s main startup and SME ecosystem partners, Innovate Lanka is a program initiated by the Council for Startups (CFS) of The Ceylon Chamber of Commerce (CCC), the Lankan Angel Network (LAN) and Sri Lanka Association for Software Services Companies (SLASSCOM). This program will ideally also serve up the systematic change required to rebuild Sri Lanka, by providing personalized support for every entrepreneur while offering a one-stop-shop for incubation and acceleration, until exit, at the global level.

In addition to the winner, runner-up and “Best Female Entrepreneur” title holders, the Innovate Lanka Demo Day and Finale also offered up presentations by other top 10 finalists. These included WorkXFlow (Pvt) Ltd, EDUS Lanka (Pvt) Ltd, INGROW Holdings (Pvt) Ltd, Ceylon Dhee Ayurved (Pvt) Ltd, Stag Space (Pvt) Ltd, Edutoys (Pvt) Ltd and CrossBorder Payments (Pvt) Ltd.

Garnering an exemplary 70+ entries during its initial, applications stage, Innovate Lanka later went on to thoroughly vet these submissions, ultimately whittling down its pool of startups and SMEs to just the top 10. This was achieved via an intensive pitching and evaluation process, which was facilitated by LAN.

Said LAN Chairperson Chandi Dharmaratne; “We at LAN, along with our global, national and eco-system partners, and the many incubators and accelerators that participated, are committed to supporting SMEs and entrepreneurs during the tough economic times ahead. Programs such as Innovate Lanka will keep dreams of scaling alive, until such time as our economy recovers and more startups and SMEs can bootstrap themselves into the global marketplace.”

Commenting further, CFS Chairman Prajeeth Balasubramaniam said; “Entrepreneurship is critical to stimulate long-term economic growth and national prosperity. As an entrepreneur, today there is no one private sector body representing them to help in all spheres of growth at the different stages. Innovate Lanka platform was created with this in mind as a national initiative that brings all the start-up and SME ecosystem partners together”.

Adding to this, SLASSCOM Chairman Ashique Ali said; “We were happy to partner in this programme as start-ups play a significant role in innovation, creating social, economic, and environmental impact, and generating export revenue. There are a significant number of start-ups which have the potential to scale regionally and globally. SLASSCOM together with other ecosystem partners aim to support these startups through their incubation to scale up journey, realising SLASSCOM’s goal of catalysing 1000 startups by the year 2025.”



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Farmchemie becomes the first Sri Lankan owned company to receive FAMI-QS certification

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Farmchemie has obtained FAMI-QS certification being the first Sri Lankan owned company certified with FAMI-QS. FAMI-QS stands for Feed Additive and pre-MIxture Quality System, which compromises the safety of animal feed and the quality of processed goods in accordance with European regulation no. 183/2005 on animal feed. Farmchemie is a BOI approved leading manufacturer and exporter of animal feed additives and nutritional supplements in Asia. Farmchemie is equipped with a state-of-the-art manufacturing facility from Bühler, Switzerland to offer quality assured manufacturing services for world-renowned European brands as well as own brands under Farmstar. Farmchemie has already established their presence in numerous international markets such as India, Bangladesh, Nepal, Kuwait, Lebanon, UAE, Egypt, Thailand, Vietnam, Malaysia, Mongolia, Cambodia and Uganda. FAMI-QS will enable them to expand their markets including the European and USA.

“We are honoured to announce that Farmchemie becomes the first Sri Lankan-owned company to be certified with FAMI-QS in combination with ISO 9001: 2015 and Good Manufacturing Practices certification for animal feeding. By attaining FAMI-QS, we are able to anticipate the expectations of our clients for safe, high-quality goods by lowering the related risk and enhancing the quality of onsite feeds via a supply chain that is properly guaranteed. For that Farmchemie implements measures for Feed Fraud and Feed Defense according to FAMI-QS supply chain integrity module V2. We would like to express our heartfelt appreciation to our customers and suppliers for their continued support and dedication. We look forward to elevating the firm to new heights in the coming months and years, as our aims will always be centered on quality assurance and innovative manufacturing.” Managing Director Uditha Wanigasinghe stated.

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Exports Gold Award for Textrip

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Textrip Pvt Ltd, the export arm of the Elasto Group, was recently recognized, as the gold award winner for rubber and rubber-based products, medium scale category at the NCE Export Awards ceremony held recently in Colombo. The Chairman and Managing Director of Elasto Group, Mangala Gunasekera accepted the award at the gala event held at Shangri La Hotel. The national export awards ceremony, organized by the National Chamber of Exporters (NCE), recognizes and rewards Sri Lankan exporters on their performance in the international market.

“We always strive to manufacture high-quality rubber-based goods, using the latest technology, adhering to the highest international standards, and showcasing Sri Lanka on the global stage. I would like to thank our clients, locally and internationally for their continuous trust and my staff for their hard work and dedication. They are the pillars of our success,” Managing Director of Elasto Group, Mangala Gunasekera stated. Textrip products have obtained a number of national and international quality standards such as ISO 9001:2015, ISO 14001:2015, CET, REACH and their products are designed to adhere to the ‘Wellness Wisdom’ theme. The company works with over 100 top sports and wellness brands and exports to more than 30 countries including European countries and the United States. TEXSTRETCH Progressive Exercise Resistance Bands is one of the most popular products of the company. The product is a great full-body workout solution for users of any level.

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Sri Lanka Tourism returns to Spanish market after pandemic

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Spain is one of the fastest recovery markets for Sri Lanka Tourism after the pandemic and participation in FITUR argues well for the much-needed exposure for Sri Lanka as an attractive tourism destination for Spanish-speaking countries, contributing in a substantive manner to its overall growth strategy. Sri Lanka Tourism made the presence with the 28 private sector companies at 43rd edition of FITUR International Travel Mart which was held from 18- 22 January 2023, Madrid, Spain. FITUR is the largest tourism event in the Spanish Market where all the sectors leisure, business and MICE tourism meet under one roof.

Sri Lanka Tourism stall was ceremonially opened by Mr.Chalaka Gajabahu ,Chairman of Sri Lanka Tourism Promotion Bureau and Honorary Consul of Sri Lanka in Barcelona, Mr. Agustin Llana and representatives of the leading private sector members of Sri Lanka.

Sri Lanka was able to attract high level of attention from the trade and travel visitors attended at the event. The Sri Lanka pavilion highlighted many aspects of its potential culture, beauty, Ayurveda and many more which Sri Lanka would offer as a tourism destination. Sri Lanka stand optimized the “So Sri Lanka” and “Visit Sri Lanka” vivid sights to attract the potential visitor segments. At the Sri Lanka pavilion, Ceylon tea was served for the visitors with a view of promoting Ceylon tea in the Spanish market.

On the sideline of the FITUR travel fair, Sri Lanka Tourism Promotion Burau officials participated at the events organized by the UNWTO. During the events, SLTPB officials met with the Mr.Harry Hwang , Director of Regional Department for Asia and the Pacific, UNWTO.As a result of discussions, Mr.Harry Hwang has shown the interest to hold the UNWTO Joint commission in Sri Lanka in 2024.

Meantime, the SLTPB and Sri Lanka Embassy of France also took steps to arrange Business Meetings, exclusive media interviews, Air Line meetings at the FITUR 2023. The Media gathering conducted during the fair created the great opportunity to highlight the updates on the destination and create awareness on the destination.

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