WSO2 Founder Sanjiva Weerawarana said Sri Lanka’s technology entrepreneurs must stop thinking small, build globally competitive companies from the region, and retain ownership of their intellectual property (IP) instead of exporting talent.
Speaking during a panel discussion at the launch of National Association of Software and Service Companies’ (NASSCOM) Disha Mentorship Program in Colombo last week, he said the technology industry in South Asia possesses world-class talent, but has yet to fully capitalise on its potential because entrepreneurs, investors, and ecosystems often encourage companies to relocate overseas as they scale.
‘If I were starting today, I would build with a much stronger India-Sri Lanka perspective,’ he said, noting that advances in artificial intelligence (AI) and digital technologies have made national borders far less relevant for software businesses.
Reflecting on WSO2’s own journey, Weerawarana said many doubted that a deep-tech product company could be built from Sri Lanka two decades ago. ‘We proved that it was possible by trusting Sri Lankan talent and building the company here,’ he said.
However, he argued that a persistent mindset still exists across the region that successful founders must relocate to the US to build globally significant companies.
‘I don’t buy that. What it shows is that the raw talent is already here. The issue has never been capability; it is whether we create the opportunities and the confidence to build from our own region,’ he explained.
Weerawarana pointed to the growing global influence of Indian and Sri Lankan professionals, noting that many lead some of the world’s most respected technology companies and academic institutions.
‘The CEOs of Microsoft, Google, and IBM are Indian. The President of Caltech is Sri Lankan. That tells you the talent exists. But, too often, that talent succeeds elsewhere instead of creating value from this part of the world,’ he noted.
He added that South Asia, together with neighbouring regions, represents the world’s economic centre of gravity.
‘India has 1.45 billion people. China has 1.41 billion people. The African region has another 1.5 billion people. Three-quarters of the world’s population is centred around this side of the world, yet we don’t leverage that advantage,’ he observed.
Weerawarana said the region also suffers from a lack of recognition for its own technological successes. ‘Most people can easily name American software companies, but very few can name Indian or regional product companies despite their global impact,’ he said.
Highlighting WSO2’s own footprint, he noted that the company’s software powers digital services used by hundreds of millions of people worldwide, including many government platforms in India. ‘People use our software every day without even knowing it,’ he said.
He also challenged Sri Lankan entrepreneurs and investors to adopt a far more ambitious outlook.
‘Many entrepreneurs think too small. Investors also value companies based on the potential of the local market instead of global opportunities,’ he said.
He said startups often focus on incremental or copycat innovation instead of solving globally relevant problems.
‘With AI, the complexity of solving many problems has fallen dramatically. The potential today is almost limitless, but we are allowing many of those opportunities to slip away,’ he said.
Weerawarana stressed that the region should move beyond simply serving as an engineering base for multinational corporations, and instead build and own globally competitive technology businesses.
‘India has done exceptionally well attracting captive development centres. Every major global software company has engineering operations there. But the value of those companies largely sits elsewhere. If we want to create lasting wealth in this region, we need to own the IP, own the companies, and build them from here,’ he stressed.
He also urged businesses to overcome lingering perceptions that products developed in South Asia are inherently less competitive.
‘If you build something that creates real value and solves important problems, it doesn’t matter where you are located. The borders are becoming increasingly porous because technology removes those barriers. What matters is creating impact,’ he said.