In this issue

Entrepreneurial ecosystems

The pandemic has set into a spin Sri Lanka’s ramshackle tech startup ecosystem. The damage here can be far-reaching as most startups, scrambling to build prototypes with a limited amount of money borrowed from family and friends or some angel funding, will run out of capital and also enthusiasm for building a business. That’s the pandemic’s tragic outcome, its ability to sap the energy out of the best and brightest.

However, to focus on startups as the lynchpin of an entrepreneurial ecosystem is a misplaced obsession. Innovation ecosystems have emerged in countries with big groups of medium to large companies co-financing innovation.

Venture capital’s role in furthering an innovation ecosystem can also be overrated. Venture capital funds are not providing the kind of patient long-term finance needed for radical innovations. They are far too shortsighted for that, given that their profitable “exit” - through a sale to a bigger company or an IPO in, at most, five years - is inconsistent with the long time needed for innovation.

The most patient long term capital globally has come from governments. Currently, a leader in this is China, with its last 5-year plan committing $1.7 trillion to several sectors like IT and environmentally friendly technology where it wishes to establish leadership.

Innovation ecosystems, unlike entrepreneurial ecosystems, require large and small companies to be co-financing innovation alongside the public sector. With its strained public finances, Sri Lanka’s options are limited. But it’s government budget for 2021 has promised public-sector involvement in the innovation ecosystem. If achieved, it could be the missing catalyst.

Echelon Magazine Description:

Intelligent Storytelling

The one thing that will define the Echelon magazine will be the quality of the storytelling. Echelon,published monthly, will cover in depth Sri Lanka’s most successful businesses, examine their winning strategiesand profile their leaders in immersive stories. Great stories are also never limited to words, and our approach includes rich photography, bold graphics and leading edge design which together will make for a compelling read.

But business doesn’t start and end in a boardroom;it extends to the golf club greens, to international travel and to pursuits that blurthe lines between commercial venture and sheer passion. The Echelon team will present the best in business and lifestyle coverage that will appeal to an exclusive and affluent readership: an otherwise hard to reach demographic.

Content will be developed by one of the most experienced and proven teams of editors, financial journalists, photographers and designers in the country.This team has already raised the bar for powerful and expertly crafted business news. Shamindra Kulamannage, will lead the editorial team.

The reputation of Echelon is being built on the separation between editorial and advertising. However we are also looking for the most creative and impactful new formats that can be applied in our magazines, iPad app as well as website to help our clients reach our audience. We are flexible and creative and we will have a solution for every single advertiser who wants to reach our audience.

We are passionate about creative results and about working with our advertisers to help them create bespoke multi platform creative solutions with our in house creative team and of course our sales team.

Echelon will be a great place to show off the products and capabilities of our clients because they will be surrounded by an editorial product that is expertly crafted, full of integrity and intelligence.