Tech Potential

July 06, 2008 (LBO) – A team that was placed second in Australia’s Melbourne Business School’s entrepreneurship competition, led by a Sri Lankan, chose Colombo as the research location since the island has untapped potential, an official said. The team led by Chandika Jayasundara, chief executive officer of Cinergix was placed second in Australia’s entrepreneurship award competition for the company’s software product and business model.

This was the first time a Sri Lankan led team has won the 8-year old competition, sponsored by Asia Pacific’s largest business school, the Melbourne Business School (of the University of Melbourne) and KPMG.

Cinergix has already set up their Research and Development division in Sri Lanka after evaluating other potential locations such as the US, Australia and India.

“We chose Lanka as we believe this is the place we can build a strong brand image for Cinergix as a great place to work. Other skill markets, such as India, are filled with global brands like Google and Microsoft,” Jayasundara told LBO in an interview.

“As a start-up we require the best people but do not want to waste time competing against the other global brands for those ‘super star’ employees.”

The company is currentl