Business
Rising startups keen to tap stock market for external funding

Board members of The Startup Council-Standing (L to R) Chandula Abeywickrama(Founder & Chairman – Lanka Impact-Investment Network). Achala Samaradivakara (Co-Founder & Managing Director – Good Market) Imal Kulathotage (CEO – nCinga) ,Yasura Samarakoon (Manager – Business and Trade Promotion, The Ceylon Chamber of Commerce).Seated (L – R) Prajeeth Balasubramaniam (Managing Partner -BoV Capital- chairman- Startup Council). Shalin Balasuriya, (Co-founder -Spa Ceylon), Brindha Selvadurai-Gnanam (Co Founder –Hatch),Mangala Karunaratne -(Founder & CEO – Calcey Technologies)
by Sanath Nanayakkare
Rising startups in Sri Lanka are keen to tap the stock market for external funding for product development, product launches and scale up and expand their their businesses in new markets, The Island Financial Review learned at a forum held by the Council For Startups, established by the The Ceylon Chamber of Commerce.
The Council provides entrepreneurs with exclusive opportunities and access to international markets
Prajeeth Balasubramaniam Founder, Lankan Angel Network/Managing Partner, BoV Capital who is also the chairman of the Council speaking to The Island Financial Review said,” Today people who have money pour that into the stock market because interest rates have come down. People who used to make higher interest rates are not making that and they are putting that into the stock market because they feel they can get better returns. Similarly if they can channel some of that money through the banking sector or other sources into startups it would be good. The CSE is regulated and the private sector is not going to put money into startups. If the government regulates startup projects and their funding structures then banks and private investors will feel that the risks are minimized and then they will join in to reap the rewards by investing in them”.
“Spring Singapore is a government startups initiative. Singapore state investor Temasek Holdings has put a lot of money into that. If we can create a similar situation people will be convinced that they won’t end up in trouble by investing in startups,” he said.
Imal Kalutotage, CEO of nCinga said,”nCinga was highly fortunate to expand regionally with the support the Ceylon Chamber and its global partners. Via the Chamber, its global partners and members, we were able to attract customers for accelerated growth and investors who also helped us with exit in December 2019. We now have a national body to help provide invaluable market access for startups and am happy to be a part of this to help other entrepreneurs grow”.
The Ceylon Chamber of Commerce recently established the Council for for Startups to address the key needs and challenges of SMEs and startups through allocation of a range of easily accessible opportunities, including access to local and international markets for various partnerships.
Inaugurated in September 2020, the Council for Startups primarily aims to foster a thriving ecosystem of entrepreneurship, which facilitates economic growth and empowerment of startups and SMEs in Sri Lanka.
Offering a highly influential and knowledgeable advantage, the CCC provides the cumulative support of 600 members to promote business opportunities for startups. These alliances (20 Global Chambers, 38Trade/Product and Service Associations and 21 Bilateral Business Councils) position the Chamber in an ideal position to promote business opportunities.
The Council recognizes the benefits of sustaining ripe economic conditions and marketing opportunities for startups and further aims to use its resources and partnerships with high commissions, foreign Chambers of Commerce for startups, and consulting firms in order to create a secure infrastructure that drives optimal business performance.
Business
Dr RAD Jeewantha named most innovative dentist of the year

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.
His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.
He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.
Business
IIHS Foundation in Biological Studies offers fast-track route to global health careers

The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.
Business
Seylan Bank Reports Strong Growth in Q1 2025 Financials

Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.
Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.
Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.
Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.
In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.
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