ICT/BPM Industry Support

In addressing the multifaceted challenges faced by the ICT industry in Sri Lanka, including limited international awareness, inadequate training programs, coordination issues, workspace scarcity for startups, and a dearth of market surveys, the ICT/BPM Industry Support project aimed to collaboratively tackle these hurdles. This initiative was driven by a commitment to foster a more vibrant and globally competitive ICT industry in Sri Lanka.

The program had clear objectives:

•        Create visibility for the Sri Lankan IT-BPM Industry brand locally and internationally, fostering business development and market exposure.

•        Enhance knowledge levels of the existing IT workforce and increase the number of ICT professionals.

•        Generate new job opportunities through technology-based businesses.

•        Provide co-working spaces for tech startup companies to accelerate business growth.

•        Collaborate with stakeholders to conduct benchmarking studies, workforce surveys, market surveys, and capacity-building initiatives.

•        Facilitate engagement between private and public stakeholders in the ecosystem and support initiatives contributing to a conducive environment for technology-based companies.

Approaching these objectives with humility, the project recognized the pivotal role it played in fostering a thriving and collaborative environment for the Sri Lankan IT-BPM industry.

At the initiation of the project, the ICT and BPM industry faced limitations in size. As of the latest available data in 2015, the sector generated a yearly export revenue of USD 845 million, ranking as the 5th highest export revenue earner in Sri Lanka. Notably, it was recognized among the top 15 offshore destinations for offshore services by the renowned international consultancy firm ATKEARNEY.

The ICT/BPM industry development project, implemented by ICTA in collaboration with the Export Development Board (EDB) and other stakeholders, aspired to position Sri Lanka as a global IT-BPM destination and a distinguished center of excellence in Asia. The goals included increasing export revenue to USD 5 billion, creating 200,000 direct jobs, and launching 1,000 startups by 2025.

Initiatives under the project included:

•        Promotion of Sri Lanka as an ICT/BPM destination by the Export Development Board (EDB).

•        Development of the ICT/BPM workforce through education and training programs.

•        Creation of an enabling environment through regulatory streamlining and infrastructure enhancement.

These initiatives were pursued with humility, recognizing the collaborative spirit and shared commitment of all stakeholders involved.

The project's collaboration with IDP for the Startup Genome Startup Ecosystem Country Assessment Report and contribution to the Startup Impediments Report showcased its commitment to ongoing research and improvement. Additionally, the finalization of the Credit Score Generation of Alternative Credit Evaluation Framework for Technology Startups highlighted the project's dedication to providing comprehensive support for the IT industry in Sri Lanka.