With the launch of Sri Lanka’s “National Export Strategy” (NES) in 2018, the Government of Sri Lanka (GoSL) along with the Sri Lanka Exports Development Board (EDB) is paving the way for the country to move towards an export-led economic strategy. The ICT/ BPM sector will be a cornerstone in this overall strategy as it aims to generate USD 5 billion in export revenue, while creating 200,000 jobs and 1,000 start-ups by 2022.
For the ICT/ BPM sector to achieve this target, it must identify and enable companies to grow exponentially and focus on high-value added products and services, utilizing the skills and capabilities of the workforce. Additionally, it is essential to provide support and guidance to companies on branding, licensing, and IP, while educating and equipping them with essential trade intelligence and international best practices to improve their competitiveness in the global context. On this backdrop, the EDB is now rolling out the “Champion Builder” program to accelerate the sector journey towards USD 5 billion revenue by 2022.
The Champion Builder Program: Accelerating High Potential Companies
During the strategizing phase, the EDB and sector experts identified the need to enable accelerated growth of firms deemed to have exponential growth potential in order to achieve the desired industry growth targets. The Champion Builder program—a key focus initiative in the ICT/ BPM strategy—was launched focusing on this outcome. The program includes both company-level assistance programs and industry-wide initiatives that target the broader industry. As the sectoral expert, Management Consulting firm STAX will be executing and managing the program.
Company-level Assistance Programs
Companies selected into the program (Champions) will be provided with both financial and non-financial support—including opportunities to access grants, subsidies and investors, as well as support to market entry, skills and capacity building, strategy and growth, and support in general marketing and sales. Prior to the roll-out stage, the sectoral expert will have detailed conversations with Champions to identify specific needs of each company to ensure the program initiatives satisfies these requirements.
The program will also implement an industry support program focused on growing Champion firms and the overall industry. This will focus on driving foreign investment into Sri Lanka as well as drive global expansion of Sri Lankan companies. The primary objective of these initiatives is to transform the existing supplier-customer relationships into more entrenched long-term partnerships. Examples include the launch of a ‘Captive innovation Center Program’, promotion of Build-Operate-Transfer models, facilitation of infrastructure concessions, and engagement of international agencies, among others.
Strong Industry Participation is Being Encouraged by the Implementing Stakeholders
Companies can now enroll in the Champion Builder program by submitting an Expression of Interest to the EDB on or before the 26th of March. Post enrollment, eligible companies will be asked to submit detailed proposals highlighting their specific requirements. During this stage, companies can work with the sectoral expert to carve out their specific needs and develop individual support plans.
For detailed information on the Champion Builder program please visit https://islandofingenuity.com/champion OR contact[email protected]