Hatch launches business incubator in Fort

Hatch, one of Sri Lanka’s largest co-working office space and business incubator, was launched this week. “It was 18 years ago that the idea of launching a start-up dawned upon me and was very excited about it,” said Jeevan Gnanam, co-founder of the project at the launch of Hatch in Colombo Fort Last week.

He said when the idea of Hatch was born the next step was to find a location until the Board of Investment (BOI) came forward to help them. He said Hatch is a curated co –working space, business incubator and a hub for the community. It fosters collaboration and promotes innovation and facilitates progress for all its members.

Nathan Sivagananathan, co-founder of Hatch, said that they have been working hard during the past two years to launch the project. “We do not want your money but we need time to help entrepreneurs to support and mentor them to develop their startups.”

He said the problems that entrepreneurs face may sound simple but they remain big problems to them. Those who are interested in helping entrepreneurs are most welcome at the Hatch. “There is a corporate accelerated programme to create new innovation within their businesses. In addition to its newly opened spaces in Colombo, Hatch also maintains a presence in Jaffna with Hatch Kalam, the first maker and co-worker space in the North and will continue to open locations both locally and regionally. This tight –knit community of like –minded , impassioned individuals bound by a culture of entrepreneurship is really our core –strength and what will truly set us apart,” he added.

According to the Ministry of Industry and Commerce, Small and Medium Enterprises (SMEs) have become the backbone of the economy, accounting for more than 75 per cent of total enterprises. Statistics from the Ministry’s most recently published annual report indicate that SMEs provide almost half the country’s employment totaling 52 per cent of the GDP. The demand for start-up incubators and membership-based independent working spaces is growing with other SME-powered economies across the world.

Meanwhile a panel discussion comprising Sri Lanka’s leaders in businesses including Expolanka Holdings Plc Founder and CEO, Hanif Yusof; ODEL Plc Founder Otara Gunewardene; Spa Ceylon Co-Founder/Director, Shalin Balasuriya and Indiegogo CEO and Founder, Slava Rubin was held. Sri Lankan cricketer Kumar Sangakkara also spoke. Non Cabinet Minister of Economic Reforms Harsha de Silva and the Governor of the Central Bank Indrajit Coomaraswamy were also present on the occasion.