November 17, 2023

Thursday, 16th November 2023, Colombo: Boosting innovation and fueling business acumen, Macubator, the external accelerator by MAC Holdings (Pvt) Ltd, offers an exciting platform to give wings to the startup ambitions of aspiring entrepreneurs and university students. Macubator by Guardian Angels Fund is supported by a diverse panel of industry experts and knowledge partners from SLASSCOM (Sri Lanka Association for Software Services Companies); SLTC (Sri Lanka Technological Campus) Research & Innovation; Alumni Association of Tourism Economics & Hospitality Management – Faculty of Arts, University of Colombo and NSBM Green University all of whom are united in their mission to foster the growth of Sri Lanka’s thriving startup ecosystem. Moreover, MAC has established ties with the Department of Transport Management and Logistics Engineering at the University of Moratuwa for collaborative initiatives focused on students.

Backed by the Guardian Angels Fund the principal venture capital fund of MAC Holdings (Pvt) Ltd, serving as the flagship entity within the MAC Innovation and Startup Accelerator Initiative. Macubator is a sustainable investment fund which connects aspiring entrepreneurs and knowledge partners. The winners of this empowering programme will receive financial support for their startups along with global business exposure for their innovations, a truly winning combination.

Commenting on the initiative, Andre Fernando, Managing Director of MAC said, “Macubator was conceptualized to create awareness and reach new potential entrepreneurs and new idea generators with a platform that strengthens the startup ecosystem in Sri Lanka and the Indian sub-continent. This initiative facilitates collaboration between MAC and the startup ecosystem to support individuals who are brimming with promising new ideas but face limited financial resources to commercialize their ideas. This empowering programme serves as a robust funding platform that not only extends seed funding, but also offers invaluable mentorship and the potential for market access. We are expecting an overwhelming response to this initiative from aspiring entrepreneurs MAC is also open to investor partnerships for similar programmes internationally and request any company or individual interested to reach out to me. We intend to develop a cross continent talent pool of entrepreneurs and harness the potential of each country or region for the betterment of society.”

Adding further, Gayan Maddumarachchi Group Director/Regional Director – Freight & Logistics of MAC, said: “Commitment towards providing innovative and customized solutions is paramount to the ethos of MAC. Macubator was born out of the realization that there is a lot of untapped talent in Sri Lanka and the Indian sub-continent which needs financial backing, which is why we have joined hands with knowledge partners to launch this empowering programme, which harnesses innovation and ingenuity. Our main endeavour lies in promoting innovation and new idea commercialization. Most significantly, we hope Macubator will broaden the horizons amongst the younger generation for value generation and empower startups within Sri Lanka and the Indian sub-continent to propel their growth trajectory.”

Tilak Gunawardana, the Group Director and Chief Financial Officer at MAC, expressed, “At MAC, prioritizing innovative and tailored solutions is ingrained in our philosophy. Macubator’s inception stemmed from recognizing the vast untapped talent in Sri Lanka and the broader Indian sub-continent, necessitating financial support. Collaborating with knowledge partners, we launched this empowering initiative to nurture innovation and resourcefulness. Our primary goal revolves around fostering innovation and converting novel ideas into viable businesses. Macubator aims to expand horizons for the younger generation, fostering value creation and empowering startups across Sri Lanka and the Indian sub-continent to accelerate their growth trajectory.”

MAC Holdings (Pvt) Ltd is a market leader in Shipping, Freight and Logistics, Aviation, Hospitality and Leisure, Fisheries and Agriculture, Renewable Energy as well as Strategic Investments. The Group’s primary business activities include travel & tourism, supply chain management, airline GSA representation, ships agency representation, and strategic investments opportunities in the region.