Organized by the Entrepreneurship Society of University of Moratuwa, Mora Ventures is aimed at all budding entrepreneurs completing their higher education at the University. Headed by Heminda Jayaweera, IFS Endowed Senior Fellow in Innovation and Entrepreneurship, the goal of Mora Ventures is to help selected startups in reaching a valuation of USD 1 Million by the end of 2018. From there, the goal would be for Mora Ventures to discover Sri Lanka’s first USD 1 Billion Startup aka a Unicorn by the year 2027.
In the beginning, there was Mora Ventures 1.0
The initial Mora Ventures programme titled Mora Ventures 1.0 even was held in April 2017. The project ideas at Mora Venture 1.0 ranged from machine learning, to medical technology, to e-commerce, education technology, apparel, sport, food tech and many more.
137 entrepreneurs that took part, in 48 teams went on to the next round where they were taught the basics of setting up a company. Out of 48 teams, 26 teams were at the idea stage, 18 at the prototype stage and at the end, 4 teams already had launched their products. The Winners of Mora Ventures 1.0 were Nurone Labs who received prize money of LKR 100,000. Team Universal Solutions emerged as First Runners Up collecting LKR 20,000 and Team Business as Usual came third and was awarded LKR 10,000.
Say Hello to Mora Ventures 2.0
Kicking off on the 19th of June, Mora Ventures 2.0 included Leadership training programmes and a number of other useful training programmes as well. Teams taking part in Mora Ventures 2.0 had their mini-pitches in the end of July 2017 and the finalists were picked on the 15th of Aug 2017.
‘The final round and selection of winners for Mora Ventures 2.0 will be held on the 29th of August 2017 at the University of Moratuwa. 9 Teams made it to the final rounds where they would present their ideas and products, all in the hope of winning the cash prize of LKR 200,000, courtesy of Bhasha.lk. The teams are as follows:
- WavyNote : A platform to help people create notes and content
- Viyaman : Revolutionizing the traditional handloom artistry
- IJX ANGEL : Lifesaving drone.
- Inna: Improved personal user experience to book hotels
- Strike Master 1.0 : Revolutionized invention for cricket and racket sports.
- CHROMA : Optimizing apparel waste for a sustainable environment.
- Chillinut : Local unique taste with no added preservatives
- SprintyLab : Online printing platform with fast delivery to your doorstep
- CRICKZER : Engaging cricket experience in a different way
We, the ReadMe team will be attending the final round of Mora Ventures 2.0 to bring you the latest and greatest as and when it happens so stay tuned to find out more. We also wish all teams taking part the best of luck for their hard work and endeavors.