"Sri Lanka’s Startup Development Strategy boasts of startup-friendly policies, non-collateral based debt finance, and the development of state-of-the-art technology parks, to name a few initiatives in our holistic approach to develop the startup ecosystem and establish Sri Lanka as a hub for new technology."
Thanks to its low cost of living, sunny weather, and natural beauty, Sri Lanka placed #2 in Club Med’s worldwide ranking of countries for digital nomads in 2021. The Sri Lankan government is building on the island’s appeal to become both a top destination for remote tech workers and an up-and-coming startup hub.
In July 2021, Sri Lanka's government approved a new Digital Nomad Visa that will allow remote workers to live and work in the country for one year. It is planned to come into effect in 2022. To further attract digital nomads, the Nomad4LK digital nomad ambassador competition was held at the AsiaBerlin Summit 2021 in Germany. The winner was provided a return air ticket to Colombo, coworking space, uninterrupted connectivity hosted by SLTMobitel, and 14 weeks of accommodation.
Startup SL, the national online platform for startups, aims to create 1,000 new startups by 2025. It offers two years free membership to startups and innovators. Sri Lanka plans to build three techno parks by 2023, in addition to two already under construction. The technopark currently being built in Galle will have 350,000 square feet for tech companies with 5G telecom facilities. In November 2021, Colombo: Hatch was awarded the Best Co-Working Space honor at the Global Startup Awards.
Notable recent deals in the ecosystem include Fintech Moneta’s $325,000 seed round in November 2021 and Blockchain startup EXIP’s initial coin offering in December 2021.
Ecosystem by the Numbers
Agtech & New Food
Reasons to Move Your Startup to Sri Lanka
Selected Startup Organizations
Startup Genome Members
Information and Communication Technology Agency of Sri Lanka
Key Ecosystem Players
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