Sri Lanka to Launch Startup Fund in 2026

COLOMBO (News 1st): Deputy Minister of Digital Economy Eranga Weeraratne announced that the Sri Lankan government will launch a startup fund in January 2026 to support innovation, attract investment, and help local startups scale globally.

Weeraratne acknowledged that while Sri Lanka has talent and ideas, it has struggled to build a complete startup ecosystem. He cited limited access to venture capital, misaligned academic research, and policy bottlenecks as key barriers to growth.

“We will remove red tape, introduce investor-friendly reforms, and build infrastructure that lowers the cost of innovation,” he said. “Most importantly, we will unlock private capital by establishing a fund of funds with initial seed capital from the government.”

The initiative aims to create a sustainable platform for startups, research, and innovation to thrive within Sri Lanka, while remaining globally competitive.