Venture Engine - Linking micro-entrepreneurs to best practices

By P.Krishnaswamy

The Venture Engine, a project creating a platform for Sri Lankan entrepreneurs to approach potential investors while also providing comprehensive mentoring for selected businesses was launched at the Dialog Future World, Colombo on March 1. Blue Ocean Ventures (Pvt) Limited (BOV), Indian Angel Network (IAN), platinum sponsors ExpoLanka Holdings and Dialog Axiata told a media conference at the launch that it is meant for entrepreneurs and those wanting to expand initial stage businesses.

Submissions close on May 6, 2012 and details of the project and application process are available on the project website www.ventureengine.lk.

While the top three plans will be selected and awarded, a series of prizes to help kickstart their businesses. The potential of the event lies in creating visibility for participating entrepreneurs to a network of potential investors who are encouraged to explore investment opportunities outside the scope of the event.

Founded in 2006, the Indian Angel Network is India's first and Asia's largest business Angel network bringing together nearly 200 successful entrepreneurs and CEOs from India and around the world who share a passion to enable more early-stage businesses that show potential to create disproportionate value.

BOV and IAN have funded several Sri Lankan start-ups and believe in the potential of Sri Lankan talent and the country's many untapped economic capacities.

“Our programs have hitherto been successful in linking several thousand micro-entrepreneurs to best practice in business management and micro-enterprise development and our partnership with the Venture Engine project is a natural extension to this ethos.

We are much honoured to have been invited to be a part of this ground breaking initiative to bring focus and visibility to the entrepreneurial creativity of aspiring Sri Lankan businesses”. Group Chief Executive of Dialog Axiata PLC Dr. Hans Wijayasuriya told the media briefing.

MD, Blue Ocean Ventures Prajeeth Balasubramaniam, said that Sri Lanka has enormous opportunities to build new businesses across many sectors of the economy.

Their company is exited about partnership with the Indian Angel Network to launch Venture Engine.