The Cabinet of Ministers has approved a new funding framework to accelerate the commercialization of research and development (R&D) projects in Sri Lanka, allocating Rs. 1 billion under the 2025 Budget to support innovative solutions that align with the government’s production-based economic policy. A dedicated unit named the ‘Research and Development Commercialization Approach’, operating under the Presidential Secretariat, has been tasked with evaluating and executing high-impact proposals. To date, the unit has submitted applications totalling Rs. 2.2 billion to local researchers and entrepreneurs. The evaluation process will be conducted in two phases, technical and administrative, to identify projects that are…
Researchers & Entrepreneurs to benefit from Rs. 1 Bn Innovation Grant Scheme
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