Brandix, ICTA encourage new entrepreneurs through financial and strategic cooperation

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Brandix, ICTA encourage new entrepreneurs through financial and strategic cooperation


Sun, Nov 20, 2022, 11:08 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 20, Colombo: Brandix Apparel Ltd. has inked a strategic partnership with and Information and Communication Technology Agency (ICTA) Spiralation Startup Incubator to power the next generation of startups in Sri Lanka.

The MOU was signed by Arjuna Sirinanda Director – IT/Digital, Brandix Apparel Limited and Managing Director, Fortude and by Chairman ICTA Professor Malik Ranasinghe on November 17.

The event took place coinciding with Global Entrepreneurship Week which takes place from 14th to 20th November 2022.

The strategic partnership would significantly impact startups by funding and encouraging rapid scaling. Furthermore, the partnership will drive tech entrepreneurship in Sri Lanka through the startup ecosystem, for a future digital economy.

The program includes seed funding, training, networking sessions and business promotion opportunities both locally and internationally.

The Spiralation program has supported more than 120 new enterprises so far. Several of the resulting entrepreneurs have collectively contributed to the creation of over 1,000 jobs by expanding their businesses internationally.

Brandix Apparel Limited will fund ten Spiralation Incubators to facilitate such businesses.

Furthermore, the partnership will financially support early-stage startups to develop and grow their businesses during the current economic crisis.

Commenting on this partnership program, Mr. Arjuna Sirinanda, IT/Digital Director, Brandix Apparel Limited and Managing Director, Fortude said, Brandix is always looking at how technology can be leveraged.

“This has enabled us to provide the most beneficial digital solutions to our customers. In this context, it is a great pleasure to enter into a mutually beneficial cooperation agreement with ICTA. Our partnership will help Sri Lankan tech entrepreneurs implement their ideas and create world-class digital solutions.”

The chairman of the Information and Communication Technology Agency, Professor Malik Ranasinghe, said, as the foremost institution in the work of digital transformation in the country, his institution has launched a national program for that purpose. “Digital economy has been identified as one of its main pillars. As one step to strengthen the digital economy, a program has been launched to promote and encourage the creation of 1,000 start-up technology businesses by the end of 2024. This cooperation will be a big support for that.”

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