March 20, 2014 at 03:00 AM EDT
Global Expert Hal Raveché 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
StrategistDr. 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
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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