Blueprint for SME innovation accelerator

Sri Lanka expressed interest in joining the South Asian regional innovation corridor at an international innovation confab in Colombo recently.

Over 30 global experts including Senior Economist, ADB Institute, Dr. Paul Vendenberg were also present.

The confab was co-organised by the National Enterprise Development Authority (NEDA), Sri Lanka's Coordinating Secretariat for Science Technology and Innovation (COSTI), and the Tokyo-based Asian Development Bank Institute (ADBI) to draw a blue print for a ground-breaking Sri Lankan SME Innovation Accelerator.

The proposed accelerator is expected to enable SMEs in R&D and demonstrate new marketable products based on new technological applications.

Commerce Minister Rishad Bathiudeen said, "Rather than innovating alone as a country, I believe that we can enhance our efforts by joining the South Asian innovation corridor. India alone is home to research and development centres for over 300 multinational corporations. Imagine the opportunities for our innovators if we can link with at least two of them. There are huge innovation partnership opportunities in the region."