Trace expert city

TRACE Expert City

Technologically Re-Awakening Culture of Excellence TRACE, once an idea, turned into reality by sheer passion and belief that Sri Lanka could return to its former technological glory, being at the forefront of innovation. TRACE seeks to act as a catalyst spurring creativity, collaboration and the creation of new products and services across sectors and industries. Having a facility such as TRACE Expert City, which has been in operation since 28th July 2014 housing multidisciplinary innovations, garnered support for the TRACE vision. Today, there is growing support behind TRACE’s vision to create a knowledge based economy.

A Success in Public - Private Partnerships

TRACE Expert City is a great example of public-private partnerships in Sri Lanka. UDA and TRACE made a historical partnership to create the TRACE Expert City in the underutilized Tripoli Market Premises which belongs to UDA. TRACE Expert City soon developed as a valuable source of foreign revenue to the country while also being an additional revenue stream for the UDA. Today, TRACE Expert City is commonly referred to as the Silicon Valley of Sri Lanka, being not just a space but an ecosystem that fosters the next generation of entrepreneurs and new ideas. TRACE provides expertise for Sri Lankan innovations in cutting-edge technology and design for the global marketplace, and provides space for various types of events which promote a “knowledge based” technological and innovation culture.

Current Economic Benefit of TRACE Expert City

The existing TRACE infrastructure which was developed in collaboration with the Urban Development Authority (UDA) consists of more than 100,000 square feet. Since Phase I (2014) and Phase II (2016) completion, TRACE Expert City has been contributing to the Sri Lankan economy.
● Generate rent revenue of more than RS 150M /Annum to UDA
● Providing employment for over 2,500 experts
● More than USD 100M / Annum foreign revenue
● Supporting research & development, futuristic global talent development, and positioning Sri Lanka as an “Innovation Hub”

Eco System Around TRACE Expert City

Sri Lanka’s key innovation & IT brands that operate from TRACE are collectively garnering much needed foreign remittance, despite the deteriorating country situation, contributing collectively to sustain this ecosystem. TRACE has also been working tirelessly to promote its vision by hosting a variety of initiatives such as tech talks, startup pre-accelerator programs, innovation competitions, and exhibitions targeting the country’s intellects. All of these work towards furthering the TRACE vision of making Sri Lanka an innovation hub, with TRACE Expert City as the center.