Sri Lanka start ups beckoned by angel investors

Apr 30, 2014 (LBO) – Sri Lankan start ups have been invited to compete for capital from a regional angel investor network which kicked off a call for business plans this week. The firm has launched Orion Nest, a facility for start ups.

Dialog Axiata, Sri Lanka’s largest mobile network and Expolanka group are also sponsoring the program.

“Entrepreneurship is the cornerstone upon which our success is built and we understand the challenges of venturing out on new territory,” Hanif Yusoof, group chief executive of Sri Lanka’s Expolanka group, one of the sponsors of the event said.

The program has its own website at www.ventureengine.lk.

‘Venture Engine 2014’ kicked off on April 29 with a final deadline for submissions on May 26.

In addition to capital, there will be workshops and mentoring sessions from Lankan Angel Network and Indian Angel Network, alliances of angel investors, that aspiring entrepreneurs could make use of to improve their business plans.

For the first round 20 business plans will be shortlisted and 10 will be chosen for the second pitch round.

“A salient feature of Venture Engine is that the entrepreneur is granted the oppor