Disrupt Asia 2025 returns to fuel Sri Lanka's digital innovation ambitions

DISRUPT Asia 2025, Sri Lanka's premier startup conference and innovation festival, was unveiled recently with renewed ambition to position the country as the region's go-to destination for startup growth, investment, and cross-border collaboration.

- BY DIVYA THOTAWATTE

Taking place from 17-20 September, the four-day innovation platform is backed by the Ministry of Digital Economy and the Information and Communication Technology Agency of Sri Lanka (ICTA). A dynamic mix of startups, investors, industry leaders, corporates, policymakers, and ecosystem builders from the region is set to attend, driving Sri Lanka's digital transformation agenda and establishing the country as the premier destination for regional tech innovation.

Speaking at the launch, Digital Economy Deputy Minister Eranga Weeraratne said, "We are not just talking about digitalisation of the Government, but we are talking about the digital economy. Digitalisation is going hand in hand with the economic development because we believe that this is the only true vision that can drive the country toward a fast development phase."

He identified digitalisation as one of the Government's top three priorities for the next five years, alongside eradicating poverty and reforming education. While acknowledging Sri Lanka’s strength as a digital service hub, the deputy minister pointed out the limitations of the current model.

"We develop cutting-edge, world-class solutions for companies located outside Sri Lanka and we are only working as backend development centres. We are not harnessing the true potential of our resources."

He stressed the need for mindset change towards innovation and productisation to achieve the long-standing target of a $5 billion digital industry.

"We've been talking about the $5 billion target since 2016. However, even today we have only achieved $ 1.6 billion of foreign revenue from the country," he said, explaining that the lack of a proper startup ecosystem and product companies’ inability to retain operation within Sri Lanka were a few challenges limiting growth.