HSBC to recognize young entrepreneurs

Ramani KANGARAARACHCHI

Innovative young individuals in Sri Lanka can start their own enterprises instead of becoming job seekers in the future, British Council Country Director, Tony Reilly said.

An MOU was signed by HSBC CEO Sri Lanka Nick Nicolaou and British Council Sri Lanka Country Director Tony Reilly.

Speaking at the launch of HSBC Youth Enterprise Awards 2011 for young people in Sri Lanka at the British Council Colombo, Reilly said the award aims to recognize young entrepreneurs and support them to start and grow their businesses.

The contest is open to Sri Lankan post graduates, under graduates, and students aged 18 to 30 years representing universities, private higher education institutions, technical and professional training bodies in Sri Lanka.

The contestants can apply under eight categories. They are creative industries including fashion design, architecture, crafts, tourism, information technology, medical, engineering, agriculture, renewable energy and other category.

He said the business plan submitted by contestants under each of above categories will be judged by an eminent panel of judges comprising entrepreneurs and industry experts based on a list of pre defined criteria. Each category winner will be awarded with seed capital of Rs 100,000 to help them establish their own enterprises. In addition the winners will be mentored by professionals for a period of six months for guidance and effective utilisation of resources.

Uva Wellessa University Vice Chancellor Chandra Embuldeniya said there are many Sri Lankan youth full of innovative ideas but they don't have seed capital after a certain stage to go forward.