Sri Lanka among top five countries of eco startups with skilled labour
The Morning: Sri Lanka has been able to secure a position among the five countries that have eco startups with skilled labour globally while being the second country in Asia, reported the 2022 Global Startup Ecosystem Report (GSER).
The GSER was presented on 14 June in London during the London Tech Week.
It is a research report based on a database of over 280 technology entrepreneurial innovation ecosystems and over three million innovative businesses in the world. The report consists of 140 of the world’s ecosystems rankings and analytical articles by global experts.
Information on the entrepreneurial ecosystem development in Sri Lanka has been provided by Startup Genome Sri Lanka in collaboration with the Information Communication Technology Agency (ICTA).
GSER is a partnership with the Global Entrepreneurship Network (GEN), Deal Room and Crunch base. It provides insights and guidance to public and private sector operators on how to nurture startup communities, a key factor in job creation and economic growth in each country.
In terms of initial funding and investor activity, Sri Lanka is among the top 25 countries in Asia with the emerging ecosystem, and among the top 30 countries in Asia in terms of skill and experience.
The GSER 2022 report makes these assessments based on 11 key factors that affect the growth of this sector.
Sri Lanka’s ranking among the top slots in emerging ecosystems for startups with skilled labour is indicative of the overall growth and strength of the country’s economy. Sri Lanka’s geographical positioning in the Indian Ocean, the strong trade ties enjoyed by the country and working towards becoming an emerging business destination in the South Asian region have all helped boost the country’s overall economic activities. With all these developments, Sri Lanka has become a hot bed for business/investment opportunities as well as opportunities in capacity building and knowledge transfer. Given the country’s growing business potential, foreign businesses/investors could confidently explore the growing opportunities in Sri Lanka, especially through investments and partnerships with startups.
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