Business News from Sri Lanka: Over the years, SLSBC has played a catalyst role in promoting bilateral trade between the two nations for its members and other Sri Lankan corporations. This year, to explore possibilities, the SLSBC resulted in a delegation of 31 board-level people from 26 local businesses from a variety of sector industries. What was unique about this moment around is that the delegation was made up of 11 tech startups to accelerate the region’s development. SLSBC provided and generated numerous possibilities for delegates to leverage network power and effectively organize B2B meetings with full support from Singapore’s partner chambers.
A reception hosted by the Sri Lankan High Commissioner in Singapore officially kicked off the SLSBC program on Wednesday, August 21.
The highlight of the two-day program was the SL Investor Forum hosted by the Singapore Singapore Enterprise (ESG) and the Singapore Business Federation (SBF), the Singapore High Commission’s premier chamber. Representatives from Singapore businesses were well attending the event, including some from the “Wish List” of businesses shared by delegates and followed by B2B conferences with delegates.
SLSBC implemented a novel strategy by implementing several field visits, particularly for start-ups, as a learning trip. On Wednesday evening, SGTech arranged a visit to ADERA primarily for the delegation’s tech startups. SGTech is a Singapore-based network that promotes tech businesses. ADERA is a global company in Singapore that is changing the data security and automation future.
The first day started with a visit to the Singapore Chinese Chamber of Commerce and Industry (SCCCI) innovation and entrepreneurship exhibition. The board of the Chinese Chamber warmly welcomed all the delegates who had conversations about encouraging the corresponding companies to go via Singapore to China.
The second day had two tracks with other company concerns for Tech firms and the remainder of the delegation.
In Track 01, tech-enabled businesses came to A*ccelerstor, the Science, Technology and Research Agency’s (A*STAR) marketing arm, and Action Community for Entrepreneurship (ACE) is a domestic private sector-led organization to promote Singapore’s entrepreneurship and innovation. ACE plays a main role in Singapore’s construction of a vibrant and sustainable start-up ecosystem.
Track 02 included a networking session for the remainder of the participants at the Singapore Recreation Club with representatives of the Singapore Indian Chamber of Commerce and Industry (SICCI). SLSBC took the chance to sign an agreement with SICCI that the SL HC in Singapore witnessed.
The delegates also toured the KPMG digital village or “Ignition Center” where all 35 delegates witnessed the digital transformation of traditional products or businesses where innovation was implemented using technology to make the product offering more acceptable to today’s industry.
The program finished with many favorable remarks from delegates on Friday, some of whom are described below.
The SLSBC mission to Singapore was highly helpful in highlighting start-ups as well as established Sri Lankan organizations. We were able to articulate importance as a Regional Technology Consulting organization across a multitude of stakeholders in Singapore who would also bring our message to the area–Mithila Wegapitiya–Director / COO of Potenza Participating in this year’s Sri Lanka–Singapore Business Council Trade and Investment Promotion Mission in Singapore was highly important to us. As the delegation came from the Ceylon Chamber of Commerce, the Singapore Business Federation and Enterprise Singapore expanded their full assistance to the mission and made some very useful introductions as well as providing us with a thorough knowledge of the Singapore eco-system technology and how to work with it. Eric Wickramanaya–MD TENGRI AERO Industries Pvt Ltd. SLSBC organized two-thirds of my potential Singapore partner conferences. The Head of Mission recommended me to send ahead of time YKG’s wish list of “businesses to meet,” so that SLSBC’s Singapore partner chambers would have enough time to contact businesses and set up meetings. I was very impressed by the scope and depth of SLSBC’s Singapore partner network and would strongly suggest that other Sri Lankan businesses make full use of CCC’s overseas partners to open doors to them in foreign markets. I am very thankful to SLSBC for arranging the most fruitful company journey to YKG abroad. Yukthi Gunasekera, YKG Associates Managing Director.
For the SLSBC Business Delegation, it was a wonderful and exciting journey to Singapore. It was particularly eye-opening to look at some of the innovations that are happening in the tech industry around the globe, in particular, it was great to be able to see the opportunities that could be available and useful for the Sri Lankan and Globally Gem & Jewelry industry. As a consequence, we look forward to seeing how we can work together and discover some added value for our companies. Sapphire Capital Group Chairman, Sapphire Cutters Ltd.