Venture Engine Advances to Workshop Phase
Sri Lanka’s pioneering startup acceleration programme, Venture Engine kicked off its workshop phase. Over the next few weeks, participants will focus on upgrading their business acumen and other skills and be better prepared to engage with potential investors and mentors. Now filtered down to the most fundable startups, following a series of two-minute pitches held on 16 November 2021, Venture Engine’s participants are currently taking part in a number of workshops where they will be challenged via interactive and group learning opportunities, and individualised mentoring.
This will culminate in two more rounds of filtering, planned for December 2021 and January 2022, during which the pool of participants will be brought down further until the programme’s finalists will be selected. They will then move to this edition’s Finale, which has already been slated for 27 January 2022. According to Kishan Nadarajah, Principal at BOV Capital, who took part in first round of filtering: “We are pleased to have once again seen a very positive response to Venture Engine in 2021, especially considering Sri Lanka has only recently emerged from a lockdown that lasted several weeks.
The number and quality of the submissions received in 2021 has been encouraging, including representation from high growth potential sectors like FinTech, EduTech, Logistics and Sustainability.” “By filtering this year’s large number of submissions to the most promising and fundable startups, we feel we can better prepare them to meet the expectations of the VCs, Angels and other HNIs (High Net-worth Individuals) attending our Finale showcase next month. And our ultimate hope is that those taking part in the Venture Engine programme will one day pass on their skills and aid Sri Lanka’s startup ecosystem in continuing to grow, and shine, globally,” added Nadarajah.
This phase of Venture Engine 2021 comprises the following workshops: ‘What investors look for in a pitch/ deck’, by BOV Capital; ‘Branding you and your business’, by AOD; ‘Financial due diligence’, from KPMG; ‘Finance planning and governance’, by PwC; ‘Funding cycle and valuation,’ from Aavishkaar Capital; ‘Go to market and the value proposition’, by [email protected]; and ‘Shareholder agreements and legal governance’, from Nithya Partners.