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Sri Lanka@100

Speeches Shim

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Through a multi-service platform, SL@100 links promising SMEs to business development service providers, investors, and industry bodies to create new market opportunities.
Stax

Overview

To help Sri Lanka on its trajectory toward high-income status, USAID’s Sri Lanka@100 (SL@100) project promotes inclusive and sustainable economic growth by nurturing mid-market companies, helping them secure access to capital, markets, and business development services. Through a multi-service platform, this project links promising SMEs to business development service providers, investors, and industry bodies to create new market opportunities. SL@100 ensures inclusivity by prioritizing rural, women-owned, and women-led  businesses. Sri Lanka@100 has a vision to help Sri Lanka achieve high-income country status by 2048, i.e., within 100 years of achieving independence. 

Implementing Partner: Stax, Inc.; Total Estimated Cost: $5 million; Performance Period; July 2020 – July 2025

Objectives

The Sri Lanka@100 project aims to foster sustained and inclusive economic growth in Sri Lanka by mentoring 50 mid-market companies and uplifting the SME sector, especially mid-market companies, to drive growth. The key objectives of the platform are to:

  • Accelerate the growth of mid-market companies onboarded to the platform.
  • Improve access to business development services.
  • Enhance entrepreneurial mindset.
  • Help mid-market companies to expand into new markets. 

Areas of Focus

  • STRENGTHEN MID-MARKET COMPANIES: Sri Lanka@100 caters to the unique needs of mid-market companies. This includes advisory services and support for driving internal operational excellence, facilitating access to new markets, positioning mid-market companies for smart capital, and enabling a smooth transition of family business ownership by providing business development services. 
  • CREATE PARTNER ECOSYSTEM: The platform creates an ecosystem of partners, including business development service providers, investors, and industry bodies, that can create new market opportunities for mid-market companies. Sri Lanka@100 focuses on promoting more inclusive and sustainable growth by onboarding and nurturing mid-market companies that are based in rural areas and that include women-owned or women-led enterprises.

Results

  • Hosted 1,400 participants at four webinars focused on enhancing business reach and access to finance, markets, and technology; encouraging businesses to take a more evidence-based approach in making decisions; thinking innovatively about ways to leverage emerging technologies and achieve transformational growth; and uplifting businesses and entrepreneurs through digital financial inclusion. 
  • Selected thirteen firms to date to receive customized business advisory services to help them mature into large-scale businesses. Over five years, Sri Lanka@100 will assist at least 50 mid-sized companies to grow, benefitting national employment and income rates and overall macroeconomic competitiveness. 

 

Last updated: May 05, 2022

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