From mentoring to market success

From mentoring to market success

IESC helps young entrepreneurs achieve rapid business growth

While a vibrant small business sector has been critical to Sri Lanka’s growth and development, entrepreneurship is not always considered a promising career path, especially for young Sri Lankans. Before the pandemic, businesses founded by people under 35 accounted for only about 4% of all startups in Sri Lanka.

To inspire and encourage a broad range of young people to consider starting a business, IESC, through YouLead, a USAID-funded youth employment and entrepreneurship program, partnered with TV Derana and Jordanian NGO Partners for Good to launch Derana Startup2021. Startup2021 is a unique reality television show designed to help 30 talented young entrepreneurs, handpicked from thousands of contestants, grow their fledgling businesses through mentoring to build support networks and access to the resources needed to promote entrepreneurship, innovation, and market expansion. Each young entrepreneur received extensive one-on-one mentoring from renowned industry leaders and pitched their business ideas to a panel of judges to win cash prizes. Since the successful completion of Startup2021, many contestants have made significant progress in their businesses and are beginning to gain a foothold in the market.

Startup2021 winner Ushan Chaminda

One of the success stories comes from Startup2021 winner Ushan Chaminda. Ushan is the founder of Gavesha Labs, an edtech startup based in Colombo. He said: “My vision is to promote STEAM education in Sri Lanka through technology and reduce the barriers for children to access technology education. Winning Derana Startup2021 was a pivotal moment in my journey. The experience expanded my thinking and brought many new opportunities to Gavesha.”

Under Ushan’s leadership, Gavesha Labs recently received funding from the JohnKeellsX startup accelerator for product development, including the first microcomputer made in Sri Lanka with basic AI assistance to help children embrace technology. Gavesha Labs has also partnered with UNICEF to set up the “Gavesha Mini Lab”, which aims to promote climate education for young children and is currently being piloted in Nuwara Eliya.

Startup2021 contestant Rishan Dulanjana

Another Starup2021 contestant, Rishan Dulanjana, is the founder of Jack Fruit Ceylon in Galle. His company produces a wide range of innovative products for local and international markets based on jackfruit seeds. The supply chain has created significant new livelihood opportunities for over 400 jackfruit suppliers across the country.

On August 15, 2023, Rishan was recognized for his growing entrepreneurial capabilities by winning the Young Startup of the Year Award and the Gold Award for Best Commercialization Innovation at the Sri Lanka Marketing Association SME Development Awards.

Reflecting on the support IESC has extended to him, Rishan said, “It was at Startup2021 that I met my mentor, Ms. Janaki Kathiriarachchi. We are still in regular touch and this interaction has been a huge source of strength for me as we raise the bar in our business, including achieving ISO certification. Receiving these recent awards is a recognition of our efforts and I am glad she was there to celebrate with me.”

At a critical time when the Sri Lankan economy needs an infusion of new businesses to drive economic growth and create jobs, Ushan and Rishan are trailblazers. They embody the potential for success that young Sri Lankan entrepreneurs can achieve when given the necessary support, tools and resources to accelerate their growth.

YouLead is a seven-year project funded by the United States Agency for International Development (USAID). The project aims to improve technical and vocational education, create a more skilled workforce, and connect young people to more productive careers by supporting and strengthening students, teachers, and institutions. It encourages entrepreneurship by providing young people with the skills they need to run their own businesses and improving their access to mentorship and financing. IESC implements the project in partnership with international partner Global Communities and local partners American Chamber of Commerce, Ceylon Chamber of Commerce, and Skills for Life.