HatchX: Sri Lanka’s Most Disruptive Fintech Accelerator is Back Bigger and Better for 2021

Having l aunched amidst the pandemic last year HatchX, completed a highly successful first round, empowering seven fintech startups. Following this success, the programme is now returning for another run in 2021.Launched by Hatch in partnership with Lankan Angel Network ( LAN), and funded by the Ford Foundation, this enables local fintech startups to reach out and collaborate with fintech ecosystems across both Sri Lanka and South Asia. The main goal of the programme was to help solve some of the challenges Sri Lanka faces due to the local fintech industry still being in its early stages.

After a call for applications, HatchX shortlisted seven fintech startups out of 20 total applicants. These seven Sri Lankan startups successfully went through an intensive curriculum of four months and were the recipients of tailored advice from the mentors of the industry.

This year, in order to further strengthen the fintech ecosystem through HatchX, Hatch led an industrywide partnership between the Fintech Association of Sri Lanka, Council for Startups of The Ceylon Chamber of

Commerce, Sri LankaSingapore Business Council, and Lanka Angel Network. The partnership was cemented on 27th July, with the signing of an MoU, held at Hatch.

The 2021 cohort of HatchX is set to expand on last year by graduating 10 fintech startups, exploring InsureTech based startups, enabling financial inclusion, enabling wider use of online payments, strengthening capabilities and utilisation of the CBSL Sandbox, curated programme curriculum, mentoring and coaching startups to compete with international startups using a phased approach.