Digital Industry

The digital industry is a transformative force in the global economy, driving innovation, connectivity, and productivity. It encompasses digital products, services, and technologies, including software development, cloud computing, data analytics, cybersecurity, and digital marketing.

Major Sectors:

1. Digital Services Businesses:

Offer solutions through cloud computing, SaaS, IT consulting, digital marketing, e-commerce, and online education.

Known for scalability, adaptability, and market responsiveness.

Transform traditional industries by enhancing operational efficiency and customer engagement.

2. Software/Hardware Product-Based Companies:

Develop standalone software or integrated hardware-software systems.

Examples include enterprise software, mobile apps, and sector-specific tools.

Propel technological innovation and support cross-sector growth.

With targeted strategies and investments, the digital industry can become a cornerstone of sustainable economic growth, fostering inclusivity and competitiveness in the digital age.

Vision

To establish Sri Lanka as a global leader in the digital industry by fostering innovation, enabling inclusive economic growth, and driving sustainable development. By leveraging cutting-edge technology, the digital industry will transform traditional business models, enhance productivity across sectors, and empower every citizen through transparent governance and efficient services. It will become a key contributor to foreign exchange earnings, generating USD 5 billion annually by 2030, while cultivating a digitally skilled workforce and fostering a vibrant startup ecosystem.

Objectives

  • Establish a clear strategy to grow the business of Scandinavian technology companies setting up centres in Sri Lanka.
  • Establish a platform connecting Sri Lankan diaspora and foreign missions as a growth platform for Sri Lankan IT businesses. (Both product and services)
  • Develop and implement a consolidated plan for the startup ecosystem, including necessary regulatory changes guided by the recommendations of two steering committees.
  • Launch Disrupt Asia in September 2025 as a cornerstone initiative to energize the startup ecosystem development.

Key Activities

Scandinavian Technology Business Expansion:

The Scandinavian market, known for innovation and sustainability, is a strong fit for Sri Lanka’s tech sector, as demonstrated by investments like IFS, 99X, and TIQRI, driven by cost-effective solutions, skilled talent, cross-cultural fit, and language proficiency.

  • Produce a market report covering companies already in SL with connections to Scandinavia, their inputs - positive/negative, Market size/opportunity, key people, industry structures.
  • Have conversations with 05 prospective tech companies.
  • Prepare a strategic plan of 18 months.

Diaspora and Foreign Mission Platform:

  • Establish an online networking portal for Sri Lankan diaspora professionals to collaborate with local IT firms.

Residency Visa Recommendation Services:

The Residency Visa Recommendation is a service conducted by ICTA at the request of the Ministry of Digital Economy, which refers applications to ICTA for evaluation. The service assesses the justifications provided by IT/BPM companies sponsoring skilled foreign professionals or executive-level professionals for residency visas to work and engage in business activities in Sri Lanka. Visit https://www.icta.lk/resources/visa-recommendation for the document checklist and more details.

Startup Ecosystem Development:

  • Develop a comprehensive work plan in collaboration with the relevant ministry to update regulatory frameworks, including clear milestones, stakeholder consultations, and a mutually agreed-upon timeline for implementation. Two Advisory boards have been set up to drive initiatives across the ecosystem.
  • StartupSL (www.startupsl.lk) serve as the national online platform for Sri Lankan startups, StartupSL is ICTA's flagship initiative aimed at cultivating a robust entrepreneurial ecosystem for innovation and economic growth. The platform displays profiles of technology startups and ecosystem builders including their offering for investors, researchers, policy makers etc. to get an understanding of the Sri Lanka Startup ecosystem
  • The Spiralation Tech Startup Support Program has been a cornerstone of this effort, supporting over 150 startups since 2010, creating 1,000+ jobs, and connecting them to global opportunities in 30+ countries. Learn more about Spiralation.

Disrupt Asia 2025:

Disrupt Asia 2025, hosted in Sri Lanka, aims to attract venture capital funds and accelerators to the region by showcasing the vibrant tech ecosystem and innovation potential. It serves as a gateway for investors to engage with South Asia's emerging startups and drive regional growth.

  • Conference: Featuring government representatives, local & international entrepreneurs, investors, and industry pioneers.
  • Exhibition: A dedicated space where local and international tech ventures can showcase their products/services.
  • Investor & Business Matchmaking: One-on-one meetups between startups and investors designed to streamline the funding process and explore investment opportunities.
  • Informal Networking Session: A relaxed environment for all participants—startups, investors, corporate executives—to forge meaningful relationships and explore potential collaborations outside formal sessions

Past experiences of Disrupt Asia: Disrupt Asia YouTube Channel: Disrupt Asia - YouTube

For more information, contact: digiindustry@icta.lk