Grant Support for Technology Development & Start-up Businesses Based on New Technologies (Sri Lanka)

The National Science Foundation (NSF) is mandated to strengthen the National Research, Development and Innovation eco-system in the country to ensure wellbeing of citizens of Sri Lanka. Recognizing the critical role of technology in fueling economic growth and social advancement, one of the key organizational goals in strategic direction is to be the leader in fostering technological innovation. Whilst recognizing importance of the new knowledge creation process, addressing the prevailing situation in macro environment, NSF is committed to actively guide the journey from conceptual innovation to commercial realization. This entails our goal to emerge as the eminent catalyst for Research, Development, and Innovation (RD&I), with an emphasis on wealth creation.

Grant Schemes

• Technology Grant Scheme “Support for Technology Development (Tech-D)”
  • Support for Technology Development: A grant scheme designed focusing on development that has clear pathways to commercialization ultimately to bolster technological advancement. It aims at inculcating researchers and innovators with thinking beyond the laboratory, considering the entire value chain and market applicability hence implementing R&D outputs and inventions at ground level/solving societal or industry problems.
  • Objectives
    • To encourage state sector organizations (universities and research institutes), non-state sector organizations (small, medium and large companies), and individuals (technologists / technicians, inventors) by providing funds to conduct projects leading to technology driven innovations (TDI) / Market Driven Innovations (MDI), producing of locally, regionally or globally competitive new materials, products / devices, installing new processes, systems and services, or improving substantially those of already produced or installed and become active partners in the innovation process.
    • To encourage Grantees for intellectual property protection and licensing their innovations.
    • To promote technology transfer and commercialization of new technologies.
  • Programme Concept 
    • The scheme focuses on specific output-oriented projects in order to;
      • Encourage universities and research institutes to conduct projects leading to technology driven innovations (TDI)/Market Driven Innovations (MDI), based on existing knowledge gained through basic and applied research.
      • Strengthen capacity and capability of non-state sector companies (small, medium and large) to conduct activities directed to producing locally, regionally or globally competitive new materials, products or devices, installing new processes, systems and services, or to improving substantially those of already produced or installed and become active partners in the innovation process.
      • Assist technologists/technicians, inventors to develop prototypes/processes which are of commercial use and have industrial potential.
  • Outputs
    • Prototypes which have commercial potential.
    • New/ improved or advanced technologies.
    • New products processes and services.
    • Increased return on investment on R&D.
  • Target Groups/Beneficiaries
    • Scientists, researchers and engineers from universities and research institutes.
    • Non-state sector companies (SMEs and large). SMEs (if they have no R & D capability) may apply in collaboration with state sector organizations.
    • Individuals not affiliated to an organization (Individual category). They should apply with a commercial partner/collaborator.
• Technology Grant Scheme “Support for Startup Businesses Based on Novel Technologies (Startups)”
  • Support for Start-up Businesses Based on New Technologies: This grant scheme is geared towards entrepreneurs who are leveraging cutting-edge technology to create new businesses. It supports the transformation of innovation into tangible products and services, bridging the gap between research and the marketplace.
  • Objectives 
    • To support conversion of university & research institute research outputs into marketable products/services.
    • To encourage scientists, researchers and engineers from universities and research institutes to become successful entrepreneurs.
    • To encourage establishment of new technology-based firms by state & non-state sector organizations and individuals.
    • To promote technology transfer and commercialization of new technologies.
  • Programme Concept 
    • Winning as an entrepreneur, and creating successful economic value is a challenge. To support innovative thinkers who want to become successful entrepreneurs, NSF wishes to provide seed funds to start new companies based on their successfully tested new technologies / prototypes. NSF wants to make sure that the start-ups are healthy and can survive on their own.
  • Outputs 
    • New business enterprises
    • Improved innovation culture
  • Target Groups/Beneficiaries
    • Scientists, researchers and engineers in the universities & research institutes.
    • Non-state and state sector organizations.
    • Entrepreneurs or Individuals not belonging to above two categories.

Eligibility

• Expression of Interest (EoIs) are invited from Sri Lankan citizens affiliated to universities and other Higher Education Institutes, Research Institutions (both from State sector and non-State sector), industries including SMEs and individuals/inventors.
• Priority will be given for applications addressing the national interest/needs and existing industry needs/problems. Applications with public-private partnerships will have an added advantage where partners from industry are encouraged.
• Grants will be awarded depending on the availability of funds.

For more information, visit National Science Foundation (NSF).