New National Incubator Policy Framework
The Ministry of Industries and Entrepreneurship Development will launch a National Incubator Policy Framework soon.
The National Enterprise Development Authority (NEDA) under this ministry will facilitate this process, Chairman of NEDA – Lakshman Abeysekera told The Sunday Times Business on Wednesday. “Initially we need to have a broad understanding about the appropriate incubator model for Sri Lanka and with the institutions coming under the Ministry, other relevant Ministries, University System, Private sector and Non-Profit Organisations, we have set up a team to study incubator models in other countries such as India, Malaysia for this purpose.” Established in 2002, Malaysia’s National Incubator Development Framework is designed to enhance the capabilities of small and medium-sized enterprises (SMEs), particularly those focused on technology and innovation. India’s national incubator policy is designed to cultivate a dynamic start-up ecosystem by offering financial, technical, and infrastructural assistance to technology-driven start-ups.
He mentioned that the team had its first discussion last month and will submit a recommendation on the policy framework this month.
All stakeholders will be invited to set up or upgrade existing incubators, both manufacturing and services sectors, island-wide under a National Incubator Policy Framework. This will enable SME sector growth towards achieving set export targets, Mr. Abeysekera added.
In order to support this initiative, the ministry, institutions like IDB will identify and facilitate to offer state state-owned buildings and property to set up incubators and R&D centres.
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