02.07.2015 in Expolanka, Latest by admin 0

Venture Engine wins at Asia Responsible Entrepreneurship Awards

Start-up companies require an enormous level of funding, mentoring and information in order to transform into successful and financially sustainable ventures. In Sri Lanka, Venture Engine has been set up primarily for this purpose, to offer a tangible platform for start-ups to thrive within their industries. It is a project partnered by Blue Ocean Ventures and the Indian Angel Network with Expolanka serving as a Platinum Sponsor.

Venture Engine was honoured at the Asia Responsible Entrepreneurship Awards (AREA) 2014, which focuses on businesses that pioneer sustainable and responsible entrepreneurship in green leadership, investment in people, health promotion, social empowerment, SME CSR and responsible business leadership. The award follows on from Expolanka’s success in 2013, where the Expo Medix CSR initiative was awarded under the Health Promotion category. The AREA awards are a recognition and independent endorsement of an organisation’s efforts to creating a culture of compassion and integrity and winning an award demonstrates commitment, advocacy, integrity and leadership in incorporating responsible and ethical values in businesses.

Expolanka Holdings PLC’s Head of Marketing, Corporate Communications and CSR, Paddy Weerasekera, highlighted what this award meant to the company.

“We are privileged to win a prestigious award for the second consecutive year. This recognition is a tribute to our tireless and sincere efforts in extending our support to budding entrepreneurs who bring with them the dare-to-do spirit. We feel it’s our Corporate Social Responsibility to empower the community and contribute to the development of the Sri Lankan Economy.”

Venture Engine’s investment areas include IT/BPO, travel and tourism, E-commerce, and design, supporting over 20 companies within Sri Lanka’s start-up eco-system. The Lankan Angel Network was launched as a result of Venture Engine, to further support and build these companies, and has today accumulated over 60 members.

Co-Founder of Blue Ocean Ventures, Prajeeth Balasubramanium, spoke of the background of the work that Venture Engine has carried out over the recent years.

 “Over the past three years, Venture Engine has had a considerable impact on the start-up ecosystem in Sri Lanka. We have been able to raise over US$ 5 million and 20 startups in 3 years promising entrepreneurs who have ability and talent, but lack the financial resources and contacts. Our focus is on providing tangible benefits to Sri Lankan entrepreneurs. Being recognized for all the hard work we’ve put in throughout the years is a tremendous honour.”

This win is yet another achievement in what is a proud tradition of success for Expolanka, with sustainability and community service taking pride of place in our CSR activities. In addition to our previous wins at the AREA awards, Expolanka was honoured at the ACCA awards for two consecutive years for transparent reporting and disclosure of environmental, social and full sustainability information. Rest assured, that our ‘Dare to do’ spirit will not allow us to rest on our laurels. The desire to excel as responsible corporate citizen continues to beat strong in our hearts, and the upcoming years will continue to see us further honour our traditions.

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