- The Founders Showcase celebrates entrepreneurship in honour of World Youth Day
The Founder Showcase celebrates young people who are making a real contribution in the realm of entrepreneurship. If you have an amazing and authentic business idea, then consider applying to the AmCham SL Founder Showcase 2022.
Launched in collaboration with the Good Market, to identify and encourage enterprising youth in Sri Lanka, the Founders Showcase gives them a platform through which to showcase their ideas to the greater business community.
The ultimate aim of this initiative is to provide seed funding for innovative and sustainable business ideas, that are people and planet friendly. In today’s ever-evolving world, debating whether to incorporate sustainability into your business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success.
Brunch had a chat with IAS Holdings (Pvt.) Ltd. Group Managing Director and Local Partner Tania Polonnowita Wettimuny to learn more about the initiative.
What was the motivation behind such a showcase?
The Founders Showcase, initially launched in the month of March to support young female entrepreneurs with seed funding for their business, has now initiated the same in honour of World Youth Day in August. Considering the large number of applications they received and the success of the very first edition in March, AmCham decided to make this a bi-annual programme with the final events taking place in March and August. The March edition is dedicated to the female entrepreneur in honour of International Women’s Day, and the August edition is open to both male and female youth.
What do you hope to accomplish through this?
The predetermined finalists will be afforded an opportunity to present their product/service and business plan to an eminent panel of judges, and an audience comprising investors, thought leaders, and mentors. In addition to the possibility of private investment, the winner and first runner-up will receive a cash grant of Rs. 1 million, and Rs. 500,000 respectively. Moreover, the second, third, and fourth runners-up will receive Rs. 100,000 each.
Do you believe that sustainable businesses are key for a better future?
Sustainable business is the only key for a better future. Simply put, the future of business enterprise is rooted in a sustainable business model; one that creates long-term value, and generates profit, while improving societal and environmental conditions.
By what criteria will the judging happen?
The applicants will be judged on clarity and ingenuity of the idea, usability of the product/service, stability, scalability, and its perceived earning potential.
What is the application process like?
The QR code for applications can be accessed through the Good Market and AmCham Sri Lanka social media accounts. The competition is open to any Sri Lankan citizen, or legal resident, male or female between the ages of 18 and 35. Each individual application will be whetted by the Good Market with AmCham Sri Lanka interviewing 25 shortlisted candidates. Out of this, 8-10 finalists will have the opportunity to present to the judging panel on the day of the final event.