Business
Successful Venture Engine Finale kickstarts local startup sector
Venture Engine is once again taking up the mantle of kickstarting Sri Lanka’s startup sector. As Sri Lanka’s foremost startup funding platform, and a pioneer in the local startup sector since 2012, Venture Engine has spotlighted the resurgence of the startup sector with its successfully concluded Finale, which was held on the 23rd of February 2022. This event not only showcased the resilience of Sri Lanka’s startups, but also that the sector is rebounding.
“Despite the setbacks experienced by the startup sector due to COVID-19, a lack of foreign exchange, etc, we are pleased to have successfully completed Venture Engine’s tenth year. This is a testament to the strength of this program, which has helped fast track some of Sri Lanka’s top fundable startups from idea to late stage in a very short time span. In many ways, our journey this year has mirrored that of our startups. With changes to our program due to repeated stops and starts, and even an unprecedented extension of our timelines. This year we introduced a new award called the Trailblazer award. This award was keen to shine a spotlight on the success of women entrepreneurs and inspire more women to take part. We will also offer individual mentoring with our group of investment advisors, domain experts and successful founders. The idea of the grant and focused mentorship is to help founders with their business pain points,” commented Mr. Prajeeth Balasubramaniam, Founder of BOV Capital, Lankan Angel Network and Venture Engine.

The winner of Venture Engine in 2022 was Sri Lanka’s first ‘Buy Now, Pay Later’ platform, Mintpay (FinTech). One-to-one online tutoring platform Tutopiya (EdTech) was adjudged the First Runner-up, while Non Fungible Token (NFT) marketplace Hyperglade (Web 3.0) was recognized as the Second Runner-up. Tutopiya Founder Nuha Ghouse received the Trailblazer Award, which was given out in 2022 for the first time.
Continuing to promote initiatives that help innovative startups to accelerate their growth and scale, Venture Engine has, this year alone, awarded more than Rs. 7 million in prize money and grants to startups, in celebration of its tenth anniversary. Along with BOV Capital, the Indian Angel Network is also a founder of Venture Engine, with the Lankan Angel Network (LAN) being its Investment Partner and the Ford Foundation its Platinum Sponsor.
Quick Help, which offers online access to home improvement services like plumbing, carpentry, domestic help, etc, was recognized with Venture Engine’s Impact Entrepreneurship Award, which was sponsored by Indian Venture Capital firm Aavishkaar, Venture Engine’s Gold Sponsor. Hatch was the silver sponsor. Other sponsors and partners included Dialog Axiata PLC, KPMG, PwC, AOD, Shift and CPP, ICTA, SL@100, Council for Startups and SLASSCOM.
The local panellists at the Finale were the ICTA Chairman Mr. Oshada Senanayake, Dialog Axiata PLC COO Lasantha Theverapperuma, Calcey Technologies Founder/CEO Mr. Mangala Karunaratne, nCinga Chairman Mr. Imal Kalutotage and KPMG Sri Lanka Principal Mr. Shiluka Gunawardena, as well as LAN Patrons and Board Members Ms. Padmaja Ruparel, Co-Founder, Indian Angel Network; Mr. Rajan Anandan, Managing Director of Sequoia Capital India; Ms. Anarkali Moonesinghe, Former CEO of CIMB Investment Bank Sri Lanka; and Mr. Jeevan Gnanam, Founder of HATCH.
The Finale also featured the participation of potential investors from Citi Group, Sequoia Capital, Avendus Capital, Aavishkaar Capital, SBK Ventures, Advantedge Founders Fund, Waterbridge Ventures, K3 Ventures, the Indian Angel Network and the Singapore Angel Network, who joined in from abroad via zoom.
Since it first kicked off 10 years ago, Venture Engine has become Sri Lanka’s most successful platform for accelerating, and growing, the country’s most promising new business ideas. Over 1000 Sri Lankan startups have been vetted and mentored by this program since its launch in 2012. To date, the Venture Engine program has attracted Rs. 2Bn+ in funding for startups. Some successful Venture Engine startups include InsureMe, Roar, ZigZag.lk, Takas.lk, Saraii Village, Stripes & Checks, Skrumptious, Kimbula Kithul, Strive, PlushBox, Nithya, Extrogene, OMAK Technologies, LiveRoom, Intellocut, BusSeat.lk, IgniterSpace, House of Lonali and 24-7 Techies.
Business
Cross-border supply chains seen as key to new business opportunities
By Ifham Nizam
Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.
The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.
Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.
‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.
His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.
The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.
Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.
The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.
The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.
But the investment also has a distinctly local agricultural dimension.
Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.
That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.
Duckworth said this type of business partnership could generate benefits for both countries.
‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.
‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.
The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.
For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.
Business
Ideal Motors makes history with multiple workplace excellence accolades
HR-led transformation places people, culture and business performance at the heart of the organisation
Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.
Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.
The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.
At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.
These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.
Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.
Business
AAC takes seat belt safety message to Colombo motorists
The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.
AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.
The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.
AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.
The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.
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