Business
Spring board to ‘unleashing a new era in start-up driven growth’
In an impassioned call to action, Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, declared that Sri Lanka was ready to “unleash a new era of startup-driven growth, as he kicked off the prelude to Disrupt Asia 2025 — a four-day mega-event that aspires to redefine the nation’s digital economy and transform it into South Asia’s next innovation hub.
“We are no longer waiting for the future. We are building it, right here, starting now, said Abeysinghe. “With Disrupt Asia, we aim to place Sri Lanka firmly on the map as a gateway to South Asia, the Gulf, and Southeast Asia for global investors, innovators and disruptors.”
Scheduled to run from September 17–20 in Colombo, Disrupt Asia 2025 is more than just another tech event. Backed by the Ministry of Digital Economy and the ICT Agency (ICTA), the platform is being positioned as the national accelerator for startups and innovation—bringing together universities, industry leaders, policymakers, investors, and the general public into one unified ecosystem.
The event is anchored in Sri Lanka’s broader ambition to grow its digital economy from a current estimated transaction volume of USD 3–5 billion to USD 15 billion by 2030. To achieve this, the government is rolling out a multi-pronged strategy: a USD 50 million Fund of Funds to boost venture capital availability, the creation of a Virtual Special Economic Zone (SEZ) and new equity pathways for startups through the Colombo Stock Exchange.
Deputy Minister Abeysinghe noted that the government was working with financial advisory firm KPMG to address longstanding taxation and regulatory hurdles, including the double taxation of venture capital funds and limited frameworks for foreign co-founders.
“These policies are no longer in the shadows, he stressed. “They are being debated, fixed and aligned so that startups can thrive in a globally competitive landscape.”
Heminda Jayaweera, Executive Director at TRACE Sri Lanka, the ecosystem partner and host of the Innovation Festival on September 19, called the event “a confluence of creativity, code, and capital.”
TRACE Expert City will host more than 50 interactive product demos, themed exhibitions spanning HealthTech, AgriTech, FinTech, AI, Tourism, and GovTech, and immersive installations aimed at both the general public and young innovators.
Jayaweera emphasized the importance of creating an “incubation ground” that serves not just the tech elite, but also students, small-town entrepreneurs, and policymakers. “This is where ideas collide and evolve,” he said. “It’s where we disrupt the status quo.”
Sandun Hapugoda, Country Manager of Mastercard Sri Lanka and Maldives, added a private sector perspective to the conversation. “This is not just another tech expo, he said. “It’s a serious commitment to transform Sri Lanka into a digitally inclusive, investor-attractive economy.”
Mastercard’s participation as a strategic partner underscores the importance of collaboration in achieving these goals. “Innovation doesn’t happen in silos, Hapugoda noted. “We are working with entrepreneurs, policymakers, and financiers to build scalable solutions.”
Mastercard’s support extends to FinTech integrations, digital commerce enablement, and cybersecurity solutions — all crucial building blocks for a vibrant digital economy.
Prajeeth Balasubramaniam, Managing Partner at BOV Capital and founder of LAN, said the platform was already working to secure listings for at least two promising startups on the Colombo Stock Exchange. “Equity is not a foreign concept. We’re just late adopters. But now, we’re building the runway, he said.
Disrupt Asia 2025 will also host a “Sundowner Cultural Showcase” that celebrates Sri Lanka’s creative and artisanal identity. Featuring curated culinary offerings from Asaya Sands, gem exhibitions, and artisanal tastings, the event aims to build a bridge between innovation and tradition.
“This is more than a networking mixer, said event curator Ruwani Fernando. “It’s a statement. Sri Lanka is a land of both ancient wisdom and future-focused solutions.”
By Ifham Nizam
Business
Royal College Leads Education’s Digital Shift with Sri Lanka’s First Passive Optical LAN via SLT-MOBITEL
Heralding a new era in digital education, SLT-MOBITEL ENTERPRISE and Royal College recently collaborated over the trailblazing deployment of Sri Lanka’s first full-scale Passive Optical LAN (POL) solution powered by Gigabit Passive Optical Network (GPON) technology.
Connecting learning spaces with robust, ultra-fast broadband, the project is designed to revolutionize teaching and learning practices, ensuring students and educators can thrive in an increasingly digital world.
The agreement was signed between Janaka Abeysinghe, Chief Executive Officer, SLT Group, and Aruna Samarajewa, Secretary, Royal College Union, in the presence of several officials representing both organizations.
Partnering with one of the country’s most prestigious institutions demonstrates SLT-MOBITEL ENTERPRISE’s dedication to advancing education through cutting-edge technology and reinforcing the company’s leadership in innovative solutions.
Achieving a historic first for the nation, the fully integrated, fibre-based Passive Optical LAN (POL) solution is the inaugural deployment of its kind for an educational institution. The new system incorporates enterprise-grade network security features, ensuring safe browsing and providing advanced protection against potential cyber threats. Controlled access to educational resources is seamlessly integrated into the network architecture, creating a protected and responsible environment that safeguards sensitive academic data while building trust among parents, educators, and the community.
As SLT-MOBITEL ENTERPRISE continues to drive technological advancement within the education sector, the project serves as a vital stepping stone towards broader integration with institutions island wide. The deployment supports efforts to bridge the digital divide, ensuring that high-quality, innovative learning environments become accessible to students across the country.
Reinforcing its long-term commitment to community upliftment and sustainable sourcing, CEAT Kelani Holdings has conducted the sixth presentation of essential school supplies to children of Sri Lanka’s rubber farming community, this time at Meegama Kanishta Vidyalaya in Matugama.
Seventy students from grades 1 to 5 at the school received school bags, shoes, and exercise books as part of CEAT’s flagship CSR initiative, ‘CEAT Cares.’ This latest event brings the total number of students supported by the programme to 650, spanning key rubber-producing areas including Matugama, Ratnapura, Galle, Moneragala, Kandy, and Hatharaliyadda.
The event at Meegama Kanishta Vidyalaya was attended by CEAT Kelani Chief Operating Officer Shamal Gunawardene, members of the senior management, and authorised CEAT dealers in the area including Sarath Premachandra of Chandra Tyre Center, Chaminda Pushpakumara of Chaminda Tyre Service, and Kithsiri Senewirathna of Udagepola Tyre Center. The school principal, teachers, parents, and students also participated in the ceremony, which featured traditional dances performed by the children.
“Our commitment to the rubber farming community is an integral part of CEAT’s ethos,” Gunawardene said.
Melwa, the leading steel manufacturer in Sri Lanka, recently introduced its latest product—Melwa Welding Rods—to the market. Produced by Melwa, a local company that has played a significant role in the development of the country’s construction sector, these welding rods are of high quality. Notably, they are 100% locally manufactured and come with SLS 414 certifications. This marks the first time a welding rod that is entirely locally produced has been introduced to the Sri Lankan market.
As part of the launch, a special workshop was held for welders in Balangoda on 24 June. During the session, participants were introduced to these welding rods and given the opportunity to test them out first-hand.
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