Developing ICT Entrepreneurs in Sri Lanka March 4-5, 2010

2 SLASSCOM About SLASSCOM – SLASSCOM acts as the catalyst of growth for the Sri Lankan IT and BPO industry by facilitating trade and business, propagation of education and employment, encouragement of research and innovation, and by supporting the creation of a progressive national policy framework. Partnership with British Council – SLASSCOM views entrepreneurship as a key area in achieving IT developmental and growth targets. – The Sri Lankan ICT industry already boasts a high density of product companies. – SLASSCOM/BC believe that the local ICT industry is a fertile ground to nurture entrepreneurship.

3 Our Objectives Today Present an overall plan of activities. To bring all the key stakeholders together and of one mind. – Government – Universities – Industry – Financiers To discuss an ecosystem that fosters and nurtures potential entrepreneurs.

4 Parts of the Plan Graduate Enterprise Challenge Incubator Entrepreneur Ecosystem

5 Graduate Enterprise Challenge The partnership between the British Council and SLASSCOM on entrepreneurship began last year with the GEC. The GEC is a competition where student groups submit business proposals that are evaluated and then presented to potential investors. The 2009 GEC attracted over 80 applicants with 8 groups making the final round and presenting to an investor panel.

6 GEC Highlights The 8 groups that made the final list received mentoring on further developing their ideas and constructing viable business plans. All groups made compelling presentations to the investor panel. One group has continued on to develop several commercially viable mobile games.

7 GEC 2010 Cover entire country Reach students via Universities Launch/Goals Entrepreneur Workshops Mentoring & Coaching Competition Investor Panel Viable Business Plans Presentation The Graduate Enterprise Challenge will be held again this year. A series of Entrepreneur Workshops will lead up to the GEC competition.

8 Incubator Included among our near term goals is the development of a functional incubator. The incubator is both a concept and a physical entity. It will provide a physical environment including office space and equipment that will enable budding entrepreneurs to get started. Beyond infrastructure, and more important, the incubator will create an environment that fosters entrepreneurship. – An environment of bubbly young talent and can do attitudes. – Mentoring from veteran entrepreneurs and industry seniors on a continuous basis.

9 Entrepreneur Ecosystem Along with the incubator, we are nurturing an environment that facilitates idea generation, trial and error and implementation. This will include: – Access to a global network that could opine on a nascent ideas and provide the vital paths to markets. – Funding – A vital cog in an entrepreneurial endeavor, angel and venture capital funding has yet to gain a foothold in Sri Lanka. Our aim is to create an environment that will increase the comfort level of potential investors, by providing industry links, mentoring, etc.

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