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SLASSCOM and IIT Madras Pravartak ink MoU to boost startup ecosystem in Sri Lanka

SLASSCOM and IIT Madras Pravartak ink MoU to boost startup ecosystem in Sri Lanka

SLASSCOM and IIT Madras Pravartak have inked a landmark Memorandum of Understanding (MoU) aimed at enhancing collaboration and fostering innovation in Sri Lanka’s startup ecosystem.

The agreement was facilitated by Dr. Shankar Raman from IIT Madras Pravartak and SLASSCOM Chairman Jehan Perinpanayagam,Rajendra Moortha, and Nishan Mendis, Vice Chair of SLASSCOM. The MoU encompasses a comprehensive set of initiatives aimed at fostering innovation and entrepreneurship in Sri Lanka.

It includes identifying and supporting high-potential startups through IIT Madras Pravartak’s incubator program, offering mentorship and resources to accelerate their growth. SLASSCOM will establish a new incubator in Sri Lanka modeled after IIT Madras Pravartak’s successful framework, focusing on mentorship, funding, and skills development. The collaboration will also drive collaborative research in technology, sustainability, and healthcare sectors, while promoting cross-border exchanges through internship programs.

Additionally, joint efforts in funding, mentorship, and market access initiatives aim to bolster Sri Lankan startups’ entry and expansion into the Indian market, leveraging synergies between both organizations’ networks and expertise.

Dr. Shankar Raman, CEO of IIT Madras Parvartak Technologies Foundation stated ‘We are excited about the potential of this partnership to ignite a new wave of innovation and entrepreneurship in Sri Lanka. By combining SLASSCOM’s industry expertise with IIT Madras Pravartak’s proven incubation model, we aim to create a fertile ground for startups to thrive and scale.

This MoU is not just about sharing resources and knowledge; it’s about shaping the future of Sri Lanka’s tech landscape.

“This collaboration represents a pivotal moment for SLASSCOM and Sri Lanka’s startup ecosystem. Together with IIT Madras Pravartak, we are poised to unlock unprecedented opportunities for local startups, equipping them with the tools and support needed to compete on a global stage,” added Jehan Perinpanayagam, Chairman of SLASSCOM.

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