The Information and Communication Technology Agency of Sri Lanka and Startup Genome have teamed up to spotlight the entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• The ecosystem created $252 million in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Top 10 Global Ecosystem and #3 Asia Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 30 Asia Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors

• Top 35 Asia Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• Top 35 Asia Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• The Fintech, Govtech, and Agtech & New Food sectors are highlighted for their density of talent, support resources, and startup activity

• Sri Lanka’s Electronic Travel Authorization visa, free trade agreements, and transparent regulatory frameworks are cited as reasons a startup should move to the ecosystem

"Sri Lanka is poised to grow to a $15 billion digital economy by 2030, fueled by a Digital & AI Strategy inviting global investors to partner with us in our journey," says Kanaka Herath, State Minister of Technology of Sri Lanka.

"Startup Genome is eager to highlight the remarkable growth observed in the Sri Lanka startup community," shares Marc Penzel, Founder & President of Startup Genome. "We extend our gratitude to the Information and Communication Technology Agency of Sri Lanka  for their pivotal role within an expanding network of the world's innovation policy leaders."

For more insights and an overview of Sri Lanka ’s startup landscape, visit the Sri Lanka ecosystem page.