It is a necessity to start Research and Development projects for the improvement and upgrading of the industries in Sri Lanka. To encourage the industrialists to start Research and Development projects, the Ministry of Industry and Commerce has started a program to offer financial assistance for the suitable industrialists.
Applications are called for research and development projects under two sections
- Project proposals on innovative product development
- New innovations and innovative product improvements
- Low cost high quality product development
- Project proposals on existing production process development
- Improvements to existing process development
- Environmentally sustainable process development
Industries which are involved in product manufacturing process or promotion of industrial innovation are also eligible to apply
- Fifty percent (50%) of the project cost will be born by the ministry after monitoring the process of research or promotion of industrial innovation.
- Participation in skill development programs such as lectures, technical sessions and seminars.
- The project must have innovative product or innovative development of production process.
- Should have five year experience in product manufacturing.
Note: This condition will not be applicable to new innovators or promoters of industrial innovation.
- The applicant must provide proof of concept.
- The proposed project should have market potential.
- Economical benefits should be gained by the proposed project.
It is noted that this grant will not be provided for business investments, business developments and to start new business.
All applications will be evaluated by a panel of judges who are qualified in manufacturing related product & process development. Short listed applicants will be invited for an interview by a selection committee appointed by the Secretary of the Ministry of Industry and Commerce. Technical feasibility of those applicants/projects will be evaluated and all necessary documents must be provide by the selected applicant.
Application forms can be down loaded by the ministry website www.industry.gov.lk or can be collected from the premises of Ministry of Industry & Commerce. Duly completed application should be sent by registered post to Director, Development Division III, Ministry of Industry & Commerce, 73/1, Galle Road, Colombo 03.
Ministry of Industry & Commerce,
73/1, Galle Road,