(Commonwealth_ The 2024 edition of the SPARK Skilled Youth Entrepreneurship Competition has successfully concluded its first round, marking another milestone in its mission to nurture Sri Lanka’s future business leaders. This year, 100 promising youth competitors advanced through rigorous training in foundational business skills and business plan development, preparing them for the next stages of the competition. SPARK, which has gained significant popularity as an annual launchpad for emerging entrepreneurs, is dedicated to transforming young minds by equipping them with both practical skills and real-world business knowledge.
The competition is organized by The Ceylon Chamber of Commerce in collaboration with the International Labour Organisation (ILO) and the South Asia Leadership in Entrepreneurship (SALE) project, with financial support from the US Department of State. It serves two categories: the ‘school’ category, aimed at younger participants, and the ‘open’ category, for older youth and aspiring entrepreneurs.
Manori Dissanayake, Senior Assistant Secretary General of The Ceylon Chamber of Commerce, shared insights into this year’s growing momentum. “The 100 contestants selected for the first round reflect the diversity of the applicant pool across the two categories. Participants ranged from 15 to 30 years of age, with 33% being female and representation from all nine provinces of Sri Lanka. The evaluation of the first round has been completed, and we will soon announce the top 30 competitors who will progress to the second round. This includes an intensive bootcamp and business pitching process guided by experienced business mentors,” Dissanayake stated.
The competition’s emphasis on mentorship and real-world experience sets SPARK apart from other entrepreneurship programs. In the second round, these top 30 competitors will receive personalized coaching from seasoned mentors, including entrepreneurs and academics. These mentors play a pivotal role in shaping the participants’ business acumen, with one-on-one guidance designed to refine their ideas and help them overcome challenges.
Among the mentor panel for 2024 is Kanishka Weeramunda, Founder of SquareHub, who expressed his excitement about the caliber of this year’s competitors. “The submissions we’ve received are incredibly diverse, covering sectors like tech, eco-innovation, food innovation, healthcare, and arts and crafts. I’m eager to work closely with the top 30 competitors during the boot camp, helping them fine-tune their business propositions. We can expect some truly exciting pitches as we approach the final stages of the competition,” said Weeramunda.
The bootcamp, a key component of SPARK’s second round, will focus on refining the participants’ business plans and preparing them for high-stakes pitching. Contestants will have the opportunity to receive targeted advice on everything from financial planning and market strategy to leveraging digital technology and understanding the broader economic landscape. The practical skills acquired during this phase will be instrumental as the competition builds toward its climax.
One of the standout participants from the first round is S. Thushanth, a student from St. John’s College in Jaffna. Reflecting on his journey so far, Thushanth remarked, “SPARK has been a real eye-opener for me. I’ve learned so much, from problem-solving and critical thinking to understanding emerging global business trends, marketing strategies, and business plan development. I’m also more confident in leveraging digital technology and navigating the financial and business landscape. These skills have already helped me improve my business idea from different perspectives, and I’m really looking forward to the bootcamp. I’m determined to make it to the finals.”
As SPARK 2024 progresses, the bootcamp and mentorship sessions will be pivotal in preparing the participants for the final stage. The competition will culminate in the grand finale on September 5, where the top five finalists will present their business ideas on a national stage. The grand finale will be a showcase of creativity, innovation, and entrepreneurship, with one competitor ultimately being crowned this year’s winner.
