People’s Bank and IDB launch ‘BizTeens Challenge 2025’ for young entrepreneurs

People’s Bank and IDB introduce ‘People’s BizTeens Challenge 2025’ for schoolchildren island-wide ‘YES’ savings account for young adults aged 13-18 years Cash prizes for national level winners Initiative to empower youngsters to develop innovative business ideas Fostering an entrepreneurial mindset crucial for Sri Lanka's economic growth IDB plans new incubators and district-level industrial development initiatives Applications are open for students from 16 July to 30 September

- By Sarna MALIK

PEOPLE'S Bank, in collaboration with the Industrial Development Board (IDB) of Sri Lanka, has officially launched the ‘People’s BizTeens Challenge 2025,’ a nationwide initiative aimed at empowering the next generation of young entrepreneurs. The pioneering program offers schoolchildren a platform to showcase their innovative business ideas and entrepreneurial concepts.

At the official launch event held at the People’s Bank Staff Training College, People’s Bank Deputy General Manager (Retail Banking and Overseas Customer Services) Aruni Liyanagunawardana highlighted the bank’s enduring commitment to national progress. She noted that as People’s Bank marks its 64th anniversary this year, it has consistently contributed to Sri Lanka’s socioeconomic development through its inclusive financial services.

Liyanagunawardana explained that the launch of ‘People’s BizTeens Challenge 2025,’ in partnership with the IDB, demonstrates the bank’s continued dedication to national progress and youth empowerment. “Beyond our commercial objectives as a government bank, we continuously serve the nation,” she stated. “For the first time in Sri Lanka, we are specifically recognising children with an entrepreneurial mind, introducing an initiative to showcase them to the country and to the world.”

Reflecting on Sri Lanka’s entrepreneurial state, Liyanagunawardana raised a crucial point, stating that globally renowned innovators like Elon Musk, Jeff Bezos, or Steve Jobs have not yet emerged from our nation. While the term ‘entrepreneurship’ is not new to us, the concept still remains unfamiliar to many in Sri Lanka. Singapore, for instance, which is just marginally larger than Colombo city, boasts an economy significantly larger than our nation. Recognising the creative mindset of our children early and their drive to become future innovative entrepreneurs, we have built this initiative as a platform to provide them with the necessary support they need.