January 09, Colombo (LNW): President Anura Kumara Disanayake has called for a strategic shift towards new product development as a means to enhance Sri Lanka’s position in the global market, fostering opportunities that would drive economic prosperity.
Speaking at the official launch of the “National Initiative for R&D Commercialisation” on January 08, the President highlighted the potential for innovation to play a central role in the country’s future growth.
A key component of the initiative is the unveiling of a new platform—nirdc.gov.lk.
This website is designed to promote the commercialization of research and development, which, in turn, is expected to spur the production of value-added goods and services.
These efforts are poised to contribute to sustainable economic growth and accelerate social progress, as reported by the President’s Media Division (PMD).
President Disanayake acknowledged the presence of grassroots-level innovation within Sri Lanka but pointed out that the country has lacked sufficient mechanisms to effectively nurture and commercialise these ideas.
He stressed the importance of creating an environment conducive to free and creative thinking, supported by a robust system that channels such ideas into productive economic outcomes.
Such an approach, he suggested, would position Sri Lanka as a hub of innovation and progress.
Sri Lanka’s investment in research and development (R&D) has historically been minimal, with just 0.12 per cent of its annual GDP allocated to this crucial sector.
Despite the country’s rich natural resources, the potential for R&D to drive economic returns has remained largely untapped.
However, the President highlighted that with the current government in office, there is renewed interest from both local and international investors eager to capitalise on opportunities within Sri Lanka.
The government’s strategy is to effectively manage these investments to ensure quick economic gains.
The newly established Ministry of Science and Technology is already making strides in implementing a comprehensive long-term R&D strategy.
In the immediate term, the focus is on converting nearly finished or completed research projects into marketable, value-added products and services, providing an initial economic boost.
A central part of the government’s approach is the “National Initiative for R&D Commercialisation (NIRDC)”, which will be led by Dr. Nandika Sanath Kumanayake, Secretary to the President, and Prof. Gomika Udugamasooriya, Senior Advisor to the President.
This initiative will be supported by a diverse committee of experts from fields such as scientific research, industry, economics, law, the arts, and indigenous heritage. Their goal is to drive the commercialisation of research, enabling Sri Lanka to capitalise on its R&D outcomes.
During the event, the President underscored that while human needs may remain unchanged, the methods by which these needs are addressed are constantly evolving.
Innovation, he stated, is essential for meeting these evolving needs, with new product development at the heart of the nation’s economic strategy.
Reflecting on Sri Lanka’s past shortcomings, President Disanayake noted that the country’s outdated approach to technology has held it back from fully participating in the global marketplace.
Whilst technological advancements have dramatically transformed global trends, Sri Lanka has remained tethered to traditional industries such as tea, coconut, and rubber.
In contrast, leading global companies have thrived by integrating technology with innovation—five of the world’s top ten companies are tech-based.
The President also pointed out that Sri Lanka’s historical neglect of technology as an economic driver has hindered its development.
In contrast, nations that have prioritised technological advancement have seen significant economic growth and development.
The President concluded by emphasising the importance of eradicating poverty, not only to alleviate social suffering but also to restore the rights of marginalised communities.
Innovation, he argued, could empower rural populations by ensuring their economic participation and access to information, which would, in turn, improve their quality of life.
Prof. Gomika Udugamasooriya, Senior Advisor to the President, further elaborated on the initiative’s goals, noting that Sri Lanka’s R&D outputs have not been effectively integrated into the economy until now.
Under this new programme, the focus will be on translating R&D into marketable products and services, paving the way for both economic growth and social development.
The launch event saw the attendance of several key figures, including Prime Minister Dr. Harini Amarasuriya, Ministers Sunil Handunnetti and Wasantha Samarasinghe, and other prominent academics, government officials, investors, entrepreneurs, and representatives from private research institutions.
