22nd August 2024, Colombo: The 2024 edition of the SPARK Skilled youth Entrepreneurship Competition has concluded its first round with one hundred youth competitors undergoing an advanced training in business foundation skills and business plan development. SPARK is an annual skills focused launchpad for Sri Lanka’s next generation of business leaders, transforming their approach to entrepreneurship with a combination of practical skills and real-world business acumen, in ‘school’ and ‘open’ categories.
SPARK is organised by the Ceylon Chamber of Commerce with support from the International Labour Organization (ILO), South Asia Leadership in Entrepreneurship (SALE) project, and funded by the US Department of State. Commenting on the growing popularity of SPARK, Ms Manori Dissanayake, Snr. Asst. Secretary General of the Ceylon Chamber of Commerce said, “This year’s 100 contestants were selected from a diverse pool of applicants across the two categories, ranging from fifteen to thirty years of age, thirty three percent females, representing all nine provinces across the country. The evaluation of the first round of competition is now complete and we will soon be announcing the top thirty candidates qualifying for the second round, which includes an intensive bootcamp and business pitching process conducted by renowned business mentors.”
Mentors and trainers play a crucial role in the skill development of SPARK competitors in the second round of the competition. SPARK’s collaboration with academics as well as established entrepreneurs results in a unique blend of expertise to guide the entrepreneurial transformation of competitors through one-on-one interaction. Mr. Kanishka Weeramunda, Founder of SquareHub who serves on the 2024 mentor panel reflected, “This year’s submissions are in exciting and diverse sectors such as tech, eco, food innovation, healthcare and arts and crafts. I look forward to working closely with the top thirty competitors during the bootcamp and mentoring sessions to finetune their business propositions. We can expect some exciting business pitches leading to the finale.”
Following the valuable skills gained and the business plans submitted in round one, contestants now eagerly await the shortlist of competitors for round two. S. Thushanth from St. John’s College, Jaffna, one of the top performers in round one, expressed his excitement, “Competing in SPARK was an eye opener for me. I have already gained new skills including problem-solving and critical thinking, ability to understand emerging global business trends, marketing and strategy, leveraging digital technology, business plan development and capacity to understand the financial and business landscape. With these skills I am beginning to improve my business idea from different perspectives. I can’t wait to participate in the bootcamp. I am determined to reach the finals.”
As SPARK 2024 competition progresses, the intensive business pitch preparation bootcamp and the individual coaching and mentoring sessions in round two will culminate in the grand finale on 5th September 2024. The top 5 finalists will showcase their ideas on a national stage at this event and this year’s winner will be announced.
In another novel initiative, this year’s SPARK finale will include the “Young Entrepreneurship Journalist” and “Young Entrepreneurial Journalist” awards to recognise young journalists who excel in promoting entrepreneurship mindset among youth and support the creation of a business-friendly ecosystem in Sri Lanka.
SPARK competition updates are available on the SPARK website at https://spark.chamber.lk/ and on SPARK social media channels on Facebook, Instagram and Linkedin.