With the launch of Sri Lanka’s ‘National Export Strategy’ (NES) last year, the Government along with the Sri Lanka Export Development Board (EDB) is paving the way for the country to move towards an export-led economic strategy.
The ICT/ BPM sector will be a cornerstone in this overall strategy as it aims to generate USD 5 billion in export revenue, while creating 200,000 jobs and 1,000 start-ups by 2022.
For the ICT/ BPM sector to achieve this target, it must identify and enable companies to grow exponentially and focus on high-value added products and services, using the skills and capabilities of the workforce.
It is essential to provide support and guidance to companies on branding, licensing, and IP, while educating and equipping them with essential trade intelligence and international best practices to improve their competitiveness in the global context. In this backdrop, the EDB is now rolling out the ‘Champion Builder’ program to accelerate the sector’s journey towards the USD 5 billion revenue target, by 2022.
During the strategising phase, the EDB and sector experts identified the need to enable accelerated growth of firms deemed to have exponential growth potential to achieve the desired industry growth targets.
The Champion Builder program — a key focus initiative in the ICT/BPM strategy — was launched focusing on this outcome. The program includes company-level assistance programs and industry-wide initiatives that target the broader industry. As the sectoral expert, Management Consulting firm, STAX will be executing and managing the program.
Companies selected for the program (Champions) will be provided with financial and non-financial support — including opportunities to access grants, subsidies and investors, and support for market entry, skills and capacity building, strategy and growth, and support in general marketing and sales. Prior to the roll-out stage, the sectoral expert will have detailed conversations with the Champions to identify specific needs of each company to ensure the program initiatives satisfy these requirements.
The program will also implement an industry support program focused on growing Champion firms and the overall industry. This will focus on driving foreign investment into Sri Lanka and drive global expansion of Sri Lankan companies. The primary objective of these initiatives is to transform the existing supplier-customer relationships into more entrenched long-term partnerships.
Examples include the launch of a ‘Captive innovation Center Program’, promotion of Build-Operate-Transfer models, facilitation of infrastructure concessions, and engagement of international agencies, among others.
Companies can enroll in the Champion Builder program by submitting an Expression of Interest to the EDB on or before March 26. Post enrollment, eligible companies will be asked to submit detailed proposals highlighting their specific needs. During this stage, companies can work with the sectoral experts to carve out their specific needs and develop individual support plans.