Hemas and Hatch to launch second iteration of Slingshot Accelerator to Propel Sri Lankan Startups

Hemas, in collaboration with Hatch, proudly announces the second iteration of the Hemas x Hatch Slingshot programme. Following on from the success of this Accelerator Programme in 2023 where Hemas supported 25 startups and accelerated 8 startups through an intense, high-quality programme delivered by Hatch, Slingshot 2.0, aims to support a further 25 startups in the sectors of EdTech, FMCG, Healthcare, and Logistics, fostering innovation and contributing to the growth of the Sri Lankan economy.

As a diversified corporation with a rich history of growth, Hemas Group recognises the paramount importance of innovation in achieving sustained success within a dynamic business environment. In line with this commitment, Hemas has set a goal to support 75 startups as part of their 75th-year anniversary celebrations in 2023. This initiative aims to nurture the growth of these promising startups and ensure they become significant contributors to the Sri Lankan economy. 

The Hemas x Hatch Slingshot Programme is designed to create mutual benefits for all stakeholders involved. Startups gain immensely from this initiative, receiving mentorship, valuable resources, and access to Hemas' extensive network, significantly accelerating their journey to success. In turn, Hemas gains exposure to innovative ideas and technologies that have the potential to fuel its future growth. This collaborative effort fosters a more vibrant startup ecosystem within Sri Lanka, leading to job creation and contributing to the nation's economic growth.

Commenting on the launch, Rizny Faisal, Chief Strategy and Growth Officer at Hemas Holdings PLC, stated, “The phenomenal response to the first Hemas x Hatch Slingshot programme underscored the immense potential of Sri Lanka's startup ecosystem. Slingshot 2.0 is a strategic continuation of this initiative. By providing targeted support to high-growth startups in key sectors like EdTech, FMCG, Healthcare, and Logistics, we aim to cultivate innovation that addresses critical challenges and unlocks new opportunities. This aligns perfectly with Hemas' long-term vision of building a more dynamic and resilient Sri Lankan economy. We believe that empowered startups can become not just successful businesses, but powerful drivers of progress, creating jobs, fostering financial inclusion, and shaping a brighter future for all Sri Lankans."

Mevan Peiris, CEO of Hatch Works (Pvt) Ltd, added, “Our partnership with Hemas Group has been instrumental in creating opportunities for startups to thrive. There is significant value in startups understanding how an established and diversified company like Hemas operates at scale. With Slingshot 2.0, we aim to further strengthen the startup ecosystem by providing the necessary support and resources to help these businesses move to the next phase of growth. We believe that through this collaboration, we can further integrate new businesses with their innovative solutions to companies within the Hemas Group with proven success and market leadership”.

Applications for the Hemas x Hatch Slingshot 2.0 Accelerator Programme are now open. Interested startups can apply through the official website www.slingshot.lk

The programme will involve a rigorous selection process to identify startups with the highest potential for growth and impact.

Through initiatives like the Hemas x Hatch Slingshot 2.0 Accelerator Programme, Hemas Group and Hatch are dedicated to creating a thriving entrepreneurial ecosystem in Sri Lanka. This commitment to innovation and support for startups underscores their shared vision of driving sustainable economic growth and development in the country.

For more information about the Hemas x Hatch Slingshot 2.0 Accelerator Programme, please visit www.slingshot.lk     

Hemas Holdings PLC

Established in 1948, Hemas started with a simple intent: to empower families to aspire for a better tomorrow. Guided by this belief, for 75 years Hemas has empowered lives through innovative solutions in our focus areas of Consumer Brands, Healthcare, and Mobility. Woven into the socio-economic fabric of Sri Lanka, Hemas has also expanded regionally with operations in Bangladesh. In our onward journey, we will continue to invest in diverse and passionate teams, create meaningful offerings, cultivate trusted partnerships, and champion a more inclusive world, to create a positive impact for all our stakeholders.

Hatch 

An organisation that designs and implements business incubator & accelerator programs, Innovation Programs and has built Sri Lanka’s largest co-working space, was founded in 2018 and is today considered the centre of gravity for Innovation and Entrepreneurship in the country. Recognised as a leading innovation hub, Hatch has also received multiple international accolades including the prestigious 'Best Co-Working Space in the World' at the Global Startup Awards 2021, 'Best Incubator/Accelerator' title at the 2022 SAARC Regional Startup Awards and more.