Blue Ocean VenturesIndian Angel Network launch Venture Engine 2015
Blue Ocean Ventures and the Indian Angel Network (IAN) recently announced the launch of the fourth installation of Venture Engine 2015, a startup competition, where participants compete for capital for their business plans.
The 2015 Chapter aims to foster entrepreneurship further by not only acting as a springboard for the top businesses and gathering investment but also by providing all participants with the insights and knowledge necessary to establish their businesses on more robust foundations.
Venture Engine 2015, as in previous years, will open doors to financial backing in addition to providing access to a wealth of expertise in the form of workshops and mentoring sessions via the Lankan Angel Network (LAN) and the IAN.
Talking about the programme, Blue Ocean Ventures Cofounder Prajeeth Balasubramaniam said they have so far funded 15 start-ups with Rs.500 million.
“What sets Venture Engine apart is that entrepreneurs are granted the opportunity to interact directly with investors. They also benefit from mentoring by the LAN and IAN as well as the fact that any start-up, regardless of industry or size has an equal opportunity to succeed and get the necessary investment and backing.”
Companies like Takss, Trekurious, Ridgecrest, Saraii, Nithya, Glitteray and 24-7 Techies are among those 15 companies that benefited from previous editions of Venture Engine.
LAN Chairman Eric Wikramanayake said they welcome business plans from a whole range of sectors and looking forward for more entrepreneurs as Sri Lanka is at a very i mportant t urning point as there is a lot of support for entrepreneurs.
He said they can help the start-ups not only to expand in Sri Lanka but also to go regional and international as the LAN and IAN are tied up with networks overseas as well.
Endorsing the event for the fourth consecutive year are Platinum sponsors Expolanka and Orion City, with Dialog Axiata continuing as the Silver sponsor. Venture Engine is run, mentored and filtered by Strategic partner the LAN – Sri Lanka’s alliance of angel investors.