The Spiralation initiative focuses on supporting new technology ventures. The targeted audience here being budding entrepreneurs who have a vision of launching their ‘Technology Startup’ and as such are seeking aid to nurture their ICT business ideas.
The program includes but is not limited to seed funding, training sessions, networking sessions, business promotion opportunities (both locally and internationally), encouragement programs, hackathons, etc.
A subsidy of 75% of the total project cost or up to a maximum of LKR 1,000,000.00 is up for grabs for tech start-ups with new innovative ideas and concepts. In addition, if you are selected, you will also receive benefits such as mentoring, capacity development training, global and local exposure, etc.
Initialized in the year 2010, the Spiralation initiative is in its 7th consecutive year with more than 40 startups being funded through this program. Several of these startups have also gone international and have collectively added over 200 jobs in the industry.
If you are a new start-up (registered or looking to register) or an already registered startup not older than 2 years (calculated as of application date), you are eligible to apply for the Spiralation initiative. Your company should have a minimum of two directors/promoters and should be limited to ten employees.
If you meet all these requirements, you can submit your proposal here. After a detailed evaluation of all proposals, the one with the highest scores in pre-determined criteria will be awarded the grant. The decisions of the ICTA Awards Board will be treated as final.
Additionally, all selected applicants will be required to carry out an incorporation of their company, if not already done. A confirmation of work which details a full project plan (including Gantt chart of implementation activities and post-implementation monitoring and evaluation) will be handed over as per ICTA template. The reimbursements will be disbursed according to agreed project milestones extracted from this project plan.
The applications for the Seed Funding Support program of Spiralation are now open. If you wish to apply for this funding or get more information, just click here.
Deadline for applications will be 11.59pm on the 28th of February 2017.
Good luck to all those applying. May the odds be ever in your favor.
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