Global Expert Hal Raveche Promotes Innovation Economy in Sri Lanka

How tech start-ups and angel investment lead to widespread growth.

NEW YORK, NY, March 20, 2014 /24-7PressRelease/ -- On February 4, 2014, Global Innovation Strategist Dr. Hal Raveche conducted two major workshops in Sri Lanka, promoting the economics of innovation and entrepreneurship.

Dr. Raveche is the Founder and President of Innovation Strategies International, a US-based consulting firm that assists universities, corporations and government agencies with entrepreneurship and innovation. He served for more than two decades as the president of Stevens Institute of Technology in New Jersey.

In the first event of the day, Dr. Raveche led a workshop at the University of Moratuwa for undergraduate and graduate students taking courses in entrepreneurship. With the motto "Wisdom is All Wealth," the University of Moratuwa is the country's leading technological higher-education institute.

Raveche discussed the key factors for a start-up to succeed, including the importance of a market-ready prototype and well-written business plan.

Later that day, Raveche conducted a Thought Leadership Workshop for practicing entrepreneurs that was co-sponsored by the US Embassy and Microsoft Corporation. Organized by the Sri Lanka Association of Software and Service Companies (SLASSCOM), the event took place at the Dialog Future World Center in Colombo. The title of Raveche's workshop was "Entrepreneurship and Innovation for the Economic Growth of Sri Lanka." The discussion focused on what changes are needed in education and national funding of R&D to spur innovation, as well as incentives to encourage Angel Capital investors.

"It is truly inspiring to see the zeal for education united with knowledge that innovative thinking can yield benefits to an entire society," said Dr. Raveche, who has advised on innovation in countries as diverse as the Dominican Republic, Singapore, Taiwan, Vietnam and India. "The policy-makers in the United States can take a major lesson from what is happening in countries like Sri Lanka, and their sense of urgency for transformational actions now. Increasing freedom to take risks is inseparable from economic prosperity."

Dr Raveche's presentation was followed by a panel discussion among an eminent group that included Dr. Raveche; Harsha Purasinghe, Founder and CEO of Microimage; Thilan Wijesinghe, Chairman at TWCorp Ltd.; Mafaz Ishaq, Co-Founder of Lankan Angel Network (LAN); Professor Ajith Madurapperuma, Head of the Department of Electrical and Computer Engineering, Open University of Sri Lanka; and Madu Ratnayake, Senior Vice President, General Manager, Virtusa, Sri Lanka (Panel Moderator).

Dr. Raveche works frequently with universities, businesses and government agencies throughout East Asia, South Asia and Southeast Asia to assist in cultivating technology innovation and entrepreneurship. He is available to provide expert commentary and to address business associations and other audiences on developments in India, Sri Lanka, Vietnam and other high-growth nations throughout the region that have embraced the entrepreneurial model.

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