ECONOMYNEXT – Sri Lankan entrepreneurs will gain access to investment, expertise, and direct mentorship from some of Asia’s most prominent investors when the island hosts the Asian Business Angel Forum (ABAF) later this year.
It will be held along with Venture Engine, Sri Lanka’s platform for accelerating and expanding promising entrepreneurial concepts which has brought together investors with seed capital of over Rs. 2 billion for 25 local start-ups.
“ABAF brings together the elite of early-stage investment in Asia,” said ABAF Chairman Jordan Green.
“Participants exchange knowledge, investment insights, market trends and experience to enrich their opportunities for success. The networking alone delivers participants a wealth of privileged information unavailable at any other event in Asia.”
ABAF is Asia’s only investor conference that brings together Angel Investors, HNI’s, Venture Capitalists and other key stakeholders, attracting over 250 leading investors from across the Asian, Asia Pacific, Middle East and Australasian regions, a statement said.
Venture Engine, the result of a partnership between founders BOV Capital, the Indian Angel Network and the Lankan Angel Network, has helped in developing the startup eco-system in the country.
Submissions for Venture Engine 2017 will be open from 28 June to 9 August, following which the best business ideas will be selected for a program of rapid improvement over the course of five workshops with filtering and mentoring between sessions.
Applications will be open to any early stage company or startup with some customer validation and revenue as well as those in pursuit of series A funding.
Following the finale of Venture Engine 2017 on 11th October 2017, the ABAF programme will commence on 12th October at the Cinnamon Lakeside which will include an opportunity for the Venture Engine finalists to present their ideas to ABAF participants.
“Our vision for Venture Engine was to serve not only as a place to bring together Sri Lanka’s most ambitious and talented entrepreneurs, but also as an incubator capable of nurturing skills and honing business models to the level that these businesses can then work to aggressively compete on the global stage,” said Prajeeth Balasubramaiam of BOV Capital.
“Venture Engine was honoured at the Asia Responsible Entrepreneurship Awards (AREA) in 2014, which focuses on businesses that pioneer sustainable and responsible entrepreneurship, reinforcing the value the program has created in the last few years.”
Lankan Angel Network Chairman, Dumith Fernando said that being selected as the host country for the Asian Business Angel Forum 2017 is a testament to how far the start-up ecosystem in the country has progressed.
The main ABAF conference, which will be hosted on the theme “Cross Border Investing in Startups” and feature regional analyses of what is trending in the startup scene, will be followed by technical training sessions and panel discussions on how to drive exits.
(COLOMBO, June 29, 2017)