Sri Lanka | GAPSTARS

Sri Lanka

Global recognition of Sri Lanka’s potential

Besides palm trees, fresh fruit and sunny beaches, Sri Lanka is home to a booming and highly skilled IT industry. Sri Lanka was ranked #2 Global Ecosystem for Affordable Talent in 2020 in the 2020 Global Startup Ecosystem Report (GSER), published by the renowned Startup Genome.

Besides that, Sri Lanka rose 11 places in the 2019 edition of the World Bank’s Ease of Doing Business index ranking within the top 100 (13th in Asia) among 190 countries. At Gapstars, we are elevated to see Sri Lanka gaining more recognition as an excellent destination for software development.

21.8 billion

Sri Lanka’s startup ecosystem value has more than quadrupled from LKR 5.4 billion to LKR 21.8 billion in the past two years.

No. 2

#2 Global Ecosystem for Affordable Talent in 2020

5,000+

5,000+ IT graduates annually from 20+ universities

The Sri Lankan IT industry

Software Development is one of the largest contributors to IT exports in Sri Lanka. The Sri Lankan IT-BPM industry is set to achieve US $5 billion in exports by 2022, creating 200,000 direct jobs and launching 1,000 startups.

With over 300 IT companies, the industry offers professional services in different areas and a full range of IT products, from IT development to innovative solutions and IP creation. This skill diversity and experience is a major benefit for European start- and scale-ups looking for senior developers. The product engineering experience from larger corporations, subject matter expertise coupled with sound agile practices and strong communication skills are highly valuable characteristics.

9 out 10

Sri Lankan tech ecosystem scored 9 out of 10 on Funding Growth Index indicating strong growth trend

$5 billion

Sri Lankan IT Industry to reach $5 billion in export revenue by 2022

300

Over 300 IT companies

Sri Lanka as a business destination

Sri Lanka’s potential to serve the European tech industry is evident and growing. But what truly sets Sri Lanka apart as a destination to conduct (part of) your business is the country itself. How many people can say they go on business trips to a tropical island?

Sri Lanka’s potential to serve the European tech industry is evident and growing. But what truly sets Sri Lanka apart as a destination to conduct (part of) your business is the country itself. How many people can say they go on business trips to a tropical island?