Posted on Nov 27, 2017

Asjd & Associates


as indicated in Sri Lanka government budget - 2018, the “IT Initiative”, which is in effect the Government’s angel fund for the IT industry. This initiative will be operated through the EDB and invest Rs. 3 billion in the next 5 years to support:
‒ The local startups and to attract foreign startups,
‒ Small and Medium sized IT Companies, and
‒ Create the enabling environment by supporting establishment of Incubators,
supporting the acquisition and augmentation of skills and knowhow in collaboration with the local universities etc

The “IT Initiative” will at the outset finance the following:
‒ 50% of the Rent expenditure for 24 months on the Hatch Incubator and similar support to any such private ventures in the future, as well.

The Universities of Colombo and Moratuwa and, SLIIT will conduct training courses on Artificial Intelligence, Robotics, Data Science, Machine Learning, Python Development etc. in collaboration with the industry. Employment for those who successfully follow such courses will be guaranteed by the private sector. The cost of these courses will be shared between the industry and the proposed “IT Initiative”.
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