Sri Lanka (Commonwealth Union)_ Hemas Group, a diversified corporate entity with a focused interest in Consumer Brands, Healthcare, and Mobility, has entered into a strategic partnership with Hatch to launch a corporate innovation program in celebration of their 75th anniversary. This partnership is in alignment with Hemas Group’s commitment to exploring the realm of ‘Open Innovation’ as an integral part of their corporate journey. Kasturi Chellaraja Wilson, Group CEO of Hemas Holdings, emphasized the potential this partnership holds for Sri Lankan startups. She noted that the business community’s involvement in creating a new ecosystem, offering essential infrastructure, knowledge, and capital, is poised to empower local entrepreneurs.
As Hemas marks 75 years of community enrichment, their dedication to investing in the nation’s future through this initiative underscores their commitment to delivering innovative solutions that benefit families. She said, “Through this partnership, we see significant potential for Sri Lankan startups, with the business community coming forward to create a new ecosystem by providing access to essential infrastructure, knowledge, and capital. As we mark 75 years of enriching our communities, we are committed to invest in the country’s future through this initiative and reinforce our commitment to delivering innovative solutions that empower families.”
Discussing Hatch’s vision, Brindha Selvadurai Gnanam, Co-Founder and CEO, articulated the belief that entrepreneurs serve as catalysts for economic development and that innovation thrives through collaboration. Hatch, in line with this philosophy, offers comprehensive support to startups, encompassing tailored programs, extensive mentorship, and a community of like-minded individuals. She said, “We believe that entrepreneurs are catalysts for economic development and that collaboration drives innovation. Hatch provides a comprehensive solution for startups through our bespoke programs, extensive mentorship support, and like-minded community”.
The inaugural phase of the ‘Hemas x Hatch: Slingshot’ program invited applications from post-revenue startups operating in selected scalable industries, including Education & EdTech, FMCG, Healthcare, and Logistics. The program commenced with the selection of 25 such startups, who participated in a two-day intensive boot camp held on August 26th and 27th, 2023. During this program, entrepreneurs received a high-quality immersive learning experience from industry experts who provided deep insights into critical aspects of the startup journey. Topics covered ranged from fine-tuning the value proposition and creating a scalable business model to fundraising strategies, international growth approaches, and navigating the intricacies of entrepreneurship.
This holistic approach ensured that the startups not only strengthened their foundational business concepts but also acquired significant tools for expansion and growth. At the conclusion of the boot camp, the 25 participating startups had the opportunity to promote their businesses to a panel of judges. Out of these, 8 startups have now been selected to progress to the next phase of the ‘Hemas x Hatch Slingshot Accelerator’ Program. In the coming months, the corporate accelerator, facilitated by Hatch and leveraging the extensive domain expertise and resources of the Hemas Group, aims to refine the startups’ conceptual ideas, broaden their perspectives, and provide them with potentially transformative opportunities. This initiative is poised to facilitate the transition of these startups from their initial stages to scalable enterprises.
