This was the first time a Sri Lankan led team has won the 8-year old competition, sponsored by Asia Pacific’s largest business school, the Melbourne Business School (of the University of Melbourne) and KPMG.

Cinergix has already set up their Research and Development division in Sri Lanka after evaluating other potential locations such as the US, Australia and India.

"We chose Lanka as we believe this is the place we can build a strong brand image for Cinergix as a great place to work. Other skill markets, such as India, are filled with global brands like Google and Microsoft," Jayasundara told LBO in an interview.

"As a start-up we require the best people but do not want to waste time competing against the other global brands for those 'super star' employees."

The company is currently working on selling their award winning project to foreign clients in Australia and USA.

"We have raised interest in a number of potential customers who are waiting on us to deliver the first 'beta' product for them to evaluate and they are really excited about this as we are solving actual problems they have been facing for years."

"On the Sri Lankan front, we have not formally approached anyone yet but we have raised interest from various parties in using it in their daily work in business locally…However, our key markets as it stands are US and Australia," Jayasundara

The product simplifies the way businesses model complex products and processes. It also helps to design a wide range of products - from computer networks to architectural plans.

At present, the tools available for this purpose, range from the most rudimentary pen and paper or whiteboards to very complex tools like AutoCAD.

"Our product is a design and diagramming platform which helps solve real world problems using visual constructs; applicability of such software is global and our software is delivered as a subscription based service over the web," he says.

"It is accessible anywhere."

The product will also be beneficial to developing markets due lesser one off costs in licensing and execution, the company also said.

Cinergix with its headquarters in Melbourne Australia hopes to recruit more locals to its Research and Development office in Colombo.

"We know there a lot of these people in Sri Lanka – we have already employed some great people, and are on the lookout for more, we are in the process of announcing our presence in Sri Lanka and reaching out to those people now."

"In boom locations like the US, Europe, Australia and even India, working in high-tech start-ups is the most desired job for that elite class of technologists while Sri Lanka is untapped in that aspect."

Cinergix is in the process of building a product platform for specialized diagramming and design software for various aspects of business.

"Initially we will be going for business process modelling and network architecture verticals." Jayasundara says.