Business
United States supports free online mentoring platform for entrepreneurs
The U. S. government’s Agency for International Development (USAID) launched a free online mentoring platform to connect emerging entrepreneurs with experienced business experts. The platform, available to the public at www.yes.youlead.lk, connects aspiring entrepreneurs across Sri Lanka with more than 100 experienced business leaders and subject matter experts to help them navigate unprecedented challenges and support the long-term success of their businesses.
“Mentoring is very often the missing link in the success of many startups, especially for those owned by women or located outside the urban centers with limited access to networking opportunities and support facilities,” said Reed Aeschliman, USAID Mission Director for Sri Lanka and Maldives. “USAID’s YouLead project is strengthening entrepreneurship in Sri Lanka by giving business owners an online platform to discuss their plans and receive objective guidance from experts, free of charge.”
Through a partnership between USAID’s YouLead project and the Sasnaka Sansada Foundation, this platform matches entrepreneurs with mentors who volunteer their time and expertise to help businesses succeed. To ensure long-term sustainability, a dedicated team is in place to onboard mentors and mentees, moderate the mentor-mentee engagement, and recruit reputed mentors onto the network.
Hasitha Wijesundara, President of Sasnaka Sansada Foundation, stated that “There is an abundance of entrepreneurial spirit in Sri Lanka, but many entrepreneurs lack the experience to see their ideas through and lose focus when dealing with the complexities of running a business. Through this mentoring platform, we will be able to better match eager entrepreneurs with experienced mentors and increase the success rate of startups in Sri Lanka through a structured process.”
According to Ms Deepa Liayange, Secretary to the State Ministry of Skills Development, Vocational Education, Research, and Innovations, “We need to disseminate the success stories of entrepreneurs, their best practices, and strategies they adapted to navigate through challenges as part of the entrepreneur training and educational process. Mentoring provides a one-on-one platform for this process, and we would like to thank USAID, Sasnaka Sansada, and all the mentors for collaborating to create this nationally accessible service for entrepreneurs.”
YouLead is funded through an $18 million, seven-year grant from the United States and implemented by the International Executive Service Corps (IESC) to improve vocational education and training, link youth to productive careers, and strengthen entrepreneurship in Sri Lanka. Sasnaka Sansada Foundation is a community organization that has helped increase the potential of Sri Lanka’s youth since 1997.
This project is one component of the longstanding partnership between the American and Sri Lankan people to support self-reliance and promote a healthy, educated, and employed population. To find out more about USAID’s work, please see www.usaid.gov/sri-lanka.
Business
SEC renews partnership with the University of Jaffna to empower future capital market professionals
The Securities and Exchange Commission of Sri Lanka (SEC) renewed its Memorandum of Understanding (MoU) with the University of Jaffna, strengthening its commitment to developing the next generation of capital market professionals.
The partnership with the University of Jaffna began in 2009, as part of the SEC’s broader initiative to collaborate with national universities in 2008. This has been instrumental in bridging academia and the capital markets industry. The latest renewal reinforces this collaboration, ensuring undergraduates continue to benefit from a robust platform for academic and professional growth.
The renewed MoU continues to offer a range of benefits to undergraduates, including academic recognitions such as gold medals and cash awards for excellence in capital market-related subjects, opportunities for research grants in the field, and enhanced industry exposure through internships and hands-on learning experiences facilitated by the SEC.
The revised MoU was formally signed with the participation of key representatives from the University and the SEC. Tushara Jayaratne, Deputy Director General of the SEC, represented the Commission, while University of Jaffna was represented by its Vice Chancellor, Prof. Sivakolundu Srisatkunarajah, Prof. N. Kengatharan, Dean of the faculty of Management Studies and Commerce and Prof. Lingesiya Kengatharan, Head of Department of Financial Management.
The SEC continues its mission to expand partnerships with other national universities, emphasizing its dedication to creating professional opportunities for students across the country. Through initiatives like these, the SEC aims to inspire a new generation of forward-thinking professionals, fostering academic excellence and driving innovation in Sri Lanka’s capital market.
Sales professionals from Sri Lanka Insurance Corporation General Ltd (SLICGL) converged at the Head Office on 11th November 2024, to compete in the grand final round of the General Insurance Quiz Competition 2024 and awards ceremony. The eagerly anticipated annual event hosted by SLICGL celebrates knowledge, teamwork and competitive spirit among its sales force across all its regional offices. The competition comprised regional and inter-regional rounds, culminating in an exciting final witnessed by the Chairman, Group CEO, COO, and other top management of the company, adding further prestige to the event. The Eastern Regional Team emerged triumphant as Champions while the Man of the Match was awarded to S.A.W.M. Sathurusinghe, representing the Western 3 Region.
Sampath Bank has once again reinforced its unwavering support for Sri Lanka’s export community by renewing its partnership with the National Chamber of Exporters (NCE) for the 32nd Annual Export Awards. This significant milestone reflects the Bank’s long-standing commitment to empowering the nation’s exporters through tailored financial solutions, fostering ethical trading practices, and driving sustainable economic growth.
The official signing ceremony, held at the Sampath Bank Head Office, was attended by senior representatives from both organisations. This partnership emphasises Sampath Bank’s role as a trusted financial ally to exporters, with plans to support key NCE-led initiatives, including the much-anticipated Annual Export Awards on 6th December 2024.
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