Venture Engine 2021 applications to close on October 22 – Adaderana Biz English

Sri Lanka’s pioneering startup acceleration program, Venture Engine, will soon wrap up its submissions phase, with applications set to close on October 22, 2021. This date is fast approaching, so don’t miss out on the chance to participate in 2021’s program, which will help startups immensely in accelerating during these unprecedented times.

Geared toward Seed and Growth stage startups that are interested in scaling, the Venture Engine program is also open to entrepreneurs opting to submit new, early stage business ideas with huge addressable markets. Visit www.ventureengine.lk to learn more about the application process.

Founded by BOV Capital and the Indian Angel Network, Venture Engine is partnered by the Lankan Angel Network (LAN) with the Ford Foundation being the program’s Platinum Sponsor in 2021.

Held over October, November and December 2021, and providing much needed support for the local startup sector during this pandemic, Venture Engine returns for its tenth year with plans to help innovative and scalable startups solve a genuine pain point.

This year’s Venture Engine program will, for the fourth time, offer up a very special Impact Entrepreneurship Award that highlights for-profit Social Enterprises. This initiative is once again being promoted by Indian Venture Capital firm Aavishkaar, a Gold Sponsor for Venture Engine 2021. Other sponsors and partners for 2021 include ICTA, SL@100, Council for Startups, SLASSCOM, HATCH, Dialog Axiata PLC, KPMG, PwC, AOD, Shift and CPP.

Following the closing of the Venture Engine 2021 application process, selected participants will go through several rounds of filtering and workshops, during which they will pitch their ideas to a panel of  investors and domain experts.

According to BOV Capital Co-Founder, and LAN Founder, Prajeeth Balasubramaniam; “Sri Lanka can become a very powerful Technology and Innovation Hub, and BOV Capital will spend the next 15-20 years focusing on this mission. Given the country’s highly skilled tech talent, along with its geopolitical location accessing over US$ 7 trillion in GDP across India, SEA and GCC within five hours flying time, we believe this idea of ‘coming from Sri Lanka and building for the world’ is very real.”

BOV Capital has helped in developing the Sri Lankan startup ecosystem since 2009, having launched Venture Engine program in 2012. Over the past decade, this program has become a powerful launchpad for Sri Lankan startups, helping them launch and raise their first round of capital, as well as also facilitating access to world-class mentors and learning. With its mission to help the next generation of Sri Lankan entrepreneurs, while building extraordinary companies, BOV Capital will continue to partner with Sri Lankan founders through a series of funds over the next 10 years. Its ultimate goal being to help transform Sri Lanka into Asia’s next technology and innovation powerhouse.

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 a thousand 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 35 of Sri Lanka’s most exciting 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.