Lankan Angel Network opens incubation centre

Lankan Angel Network which raised US$ 5 million in funding 20 start-ups across a number of industries vital to Sri Lanka's future, recently launched the Lankan Angel Network Incubation Centre for start-ups.

Providing the much-needed support services for fledgling ventures, the incubation centre, at Lauries Road, Colombo 4, offers an array of support services and facilities for start-ups.

Lankan Angel Network is an accredited member of Asian Business Angels Forum (ABAF), an organisation of premier Angel Investor Networks in the Asian region.

A further advantage of this new association for Sri Lankan entrepreneurs is that ABAF hosts an annual meeting with US and Europe-based Angel Investor Networks, to share best practices and connect with other international networks.

As a result of this new association, start-ups from Sri Lanka will finally have access to truly global funding sources and practices, while increasing the number of potential investors they can tap.

The Lankan Angel Network has already facilitated a number of Sri Lankan start-ups receiving funding from the Indian and Singapore Angel Networks, and the new relationship with ABAF will offer local ventures more options that are even further afield.

The Lankan Angel Network is also the strategic partner of Venture Engine, a competition currently in its fourth year. This year's competition is under way.

The Lankan Angel Network is also broadening its presence islandwide with a number of programs and strategic partnerships. One such key annual program is the Jaffna-based Yarl Geek Challenge.

The competition is also notable in offering shortlisted start-ups, the opportunity for mentorship by recognised professionals in relevant fields before the final presentation stage. This strategic partnership will be further expanded this year.