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Oslo, Norway, 26th October 2018. Tracified, an innovative digital platform for food traceability, that uses Blockchain technology to empower both vendors and consumers by providing end-to-end information on food products, was a key highlight at the recently-held Oslo Innovation Week 2018. The product, with its cutting-edge technology, saw it emerge the winner of the Best Oslo Sustainability Startup Pitch, amidst many other global startups.

It was a pivotal moment for the Sri Lankan startup, the result of the hard work and dedication of a young team of dynamic Lankan engineers. …


2017 was an exciting year for us. We launched StartupX Foundry on 2nd and 3rd May 2017 respectively with two events. The first was the Colombo Tech Startup Seminar and the second, a gala event that saw the meeting of movers and shakers from the startup scene, investors and policymakers.

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We had a few specific goals for 2017. Chief among which was to increase the brand presence of StartupX Foundry and position SXF as an important catalyst in the Sri Lankan startup ecosystem. We had a few specific events and agendas in mind and one of the most important in this regard was the Colombo Tech Startup Seminar, the first of its kind in Sri Lanka, during which there was much discussion about startups and what areas startups should focus on, in terms of product development, product placement, investor relations and focus on growth. …


2017 was an exciting year for us. We launched StartupX Foundry on 2nd and 3rd May 2017 respectively with two events. The first was the Colombo Tech Startup Seminar and the second, a gala event that saw the meeting of movers and shakers from the startup scene, investors and policymakers.

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We had a few specific goals for 2017. Chief among which was to increase the brand presence of StartupX Foundry and position SXF as an important catalyst in the Sri Lankan startup ecosystem. We had a few specific events and agendas in mind and one of the most important in this regard was the Colombo Tech Startup Seminar, the first of its kind in Sri Lanka, during which there was much discussion about startups and what areas startups should focus on, in terms of product development, product placement, investor relations and focus on growth. …


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Unity in diversity

Dynamics of the founding team makes or breaks any startup. Often, we come across good startups with great ideas but when we take a close look, we get to understand the weird dynamics that may hinder the growth of the startup in the long run.

While it’s incredibly important for founders to be able to work together, what startups often don’t do have is diversity. In our experience diversity of the founding team is probably as important as them being able to work together well.

Many of the emerging startup ecosystems have students and young professionals coming together to build products. While there’s nothing wrong with it, what we’ve come to see is that most of these founding teams come from similar backgrounds. In mature ecosystems, this is not so much of a problem because founders can find co-founders/key employees relatively easily. Case in point, how Ryan Graves met Travis Kalanick — both billionaires by the way — through a tweet. …


Many folks within the Sri Lankan startup circles talk about the importance of good ideas and growth. But ideally, a startup should equally focus on having a good plan. Often, we come across startups that have good ideas but their plans don’t make much sense.

To understand whether a startup needs a plan and to understand what needs to be included in a plan, let’s focus on a few problems.

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Does a startup need a business plan?

Some influential folks have said that a startup doesn’t need a business plan. …


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With the number of requests we’re getting at StartupX Foundry, one thing is quite apparent. Most of the folks who get in touch with us have really good ideas. However, many find it difficult to create a business around the idea.

With this in mind, we decided it’s time for us to talk about some common problems that potential founders have. Introduction to Startup 201, as the name suggests, is a little advanced approach to talk about some specific problems and we’re planning to write a collection of blog posts under this theme.

What we try to do is by no means a one-size-fits-all approach. But what we want to do is focus on some not-so-simple aspects of the broader startup issues so folks can gauge where they want to focus more to get traction with their startup businesses. …


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StartupX Foundry Premises

Now that StartupX Foundry is becoming a mainstay in the Sri Lankan startup ecosystem, crystallising the founding principles of our venture is becoming important. We want to lay down our core beliefs for the benefit of the startups that join us, our partners who’d help us and everyone else who would be interested in working with us.

In this light, we’d like to condense our thoughts into six focal areas.

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Help local startups to breach global markets

StartupX Foundry’s main focus is to help local startups to breach global markets. Sri Lanka is, hands down, one of the best places to test out ideas. But if the Sri Lankan startups want to grow big, thinking outside of Sri Lankan shores is the way forward. StartupX Foundry’s main mandate is to help Sri Lankan startups to do just that. We do this by positioning our wide network of business partners, regulatory bodies, thought leaders, investors and technologists both in Sri Lanka and outside of it. …

About

StartupX Foundry

We are a Sri Lanka based venture building entity with a focus on startup incubation and acceleration.

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