From Vision to Action: Academic Partnerships for National Enterprise Development
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Small and Medium entrepreneurs play a huge role in the development of any country and the contribution of small entrepreneurs to the economy and the growth of the economy cannot be ignored. For example, in the United States, about 70 percent of new job creation is done by small businesses and it should be noted that small businesses in that country contribute 13 times as many patents to the world as other businesses. This is the same in Sri Lanka as well. The SME sector in Sri Lanka is contributing to 48% of total employment and 52% of the gross domestic product of the country. There should be a “paradigm shift” in Sri Lanka in education for long-term survival. Universities should produce Entrepreneurs, not Employees.
Furthermore, Abeng and Obinnaya (2017) indicated that the “Entrepreneurship education is a lifelong process, starting as early as elementary school and progressing through all levels of education, including adult education, focusing on developing understanding and capacity for pursuit of entrepreneurial behaviours, skills and attributes in widely different contexts”. Recognising the urgency of the moment, the Open University of Sri Lanka (OUSL) has partnered with the National Enterprise Development Authority (NEDA) in a strategic and synergistic collaboration.
This strategic partnership marks a significant step toward strengthening the Micro, Small, and Medium Enterprises (MSMEs) sector in Sri Lanka through collaborative initiatives under the Entrepreneurship Development and Consultancy Unit (EDCU) at the Faculty of Management Studies(FMS) . The National Enterprise Development Authority (NEDA), established under the National Enterprise Development Authority Act No. 17 of 2006, serves as the apex body in Sri Lanka responsible for promoting, facilitating, and developing entrepreneurship, with a special focus on the Micro, Small, and Medium Enterprise (MSME) sector.The Open University of Sri Lanka (OUSL), established under the Universities Act No. 16 of 1978, is the national leader in open and distance learning, committed to expanding access to education, fostering innovation, and supporting professional development across Sri Lanka.
The following areas of synergy between OUSL and NEDA have been identified and strategically mapped out.
Entrepreneurship Development and MSME Support
OUSL will provide academic and professional education resources to enhance the entrepreneurship ecosystem supported by NEDA, including tailored courses and skill development initiatives.
Capacity Building and Training
Through its extensive network of regional and study centers, OUSL can deliver customised training programmes for MSMEs, strengthening NEDA’s national outreach for enterprise development.
Digital Engagement and smeconnect.lk Platform
Both parties will collaborate to expand the smeconnect.lk digital platform, offering online learning modules, business development resources, and networking opportunities for entrepreneurs.
Innovation, Research, and Policy Advocacy
OUSL’s research capabilities will support NEDA in conducting sectoral studies, market assessments, and innovation mapping, providing an evidence base for policymaking and programme design.
Joint Events and Knowledge Sharing
Collaborative organisation of entrepreneurship workshops, seminars, startup competitions, and exhibitions to promote enterprise culture, innovation, and MSME resilience.
Inclusive Regional Development
Leveraging OUSL’s presence in rural and underserved areas to support NEDA’s initiatives on regional entrepreneurship and rural enterprise empowerment.
By understanding this, a landmark Memorandum of Understanding (MoU) was signed between Senior Professor P.M.C. Thilakarathne, Vice-Chancellor of the Open University of Sri Lanka (OUSL), and Mr. Lakshman Abeysekera, Chairman and Director General of the National Enterprise Development Authority (NEDA). This strategic partnership underscores the critical role of academia-industry collaboration in fostering a dynamic entrepreneurial ecosystem and unlocking the potential of small and medium enterprises (SMEs) for national development.
As part of this initiative, the Faculty of Management Studies (FMS) has taken proactive steps to identify students actively engaged in the SME sector. The faculty has begun integrating real-world business challenges into academic coursework, linking undergraduate and postgraduate assignments with industry needs in collaboration with NEDA. In a notable example, a group assignment from the “Quantitative Techniques” course in the MBA programme will be selected for the upcoming presentation at the Mini Symposium of the International Conference on Management and Entrepreneurship (ICOME) 2025. Similarly, the undergraduate course in “Business Analytics and Data Science” incorporated industry-relevant assessments, aligning theoretical learning with practical SME-related scenarios.
As the Dean of the Faculty of Management Studies (FMS), I am pleased to have initiated this collaborative effort with Mr. Lakshman Abeysekera, Chairman/Director General of the National Enterprise Development Authority (NEDA). This initiative has been made possible under the visionary leadership of Senior Professor P.M.C. Thilakarathne, Vice-Chancellor of the Open University of Sri Lanka (OUSL), who firmly believes in the University’s potential and its commitment to national development through meaningful partnerships.
Dr. Janaka Heenkenda, Senior Lecturer and Coordinator of the Entrepreneurship Development and Consultancy Unit (EDCU), serves as the driving force behind this collaboration. Dr. Jayani Hapugoda, Senior Lecturer, is actively engaged in integrating NEDA’s input into student assessments across various modules, with plans to extend this initiative further. Mr. Asanka Senevirathne, Senior Lecturer at FMS, is contributing his expertise in financial literacy to the project.I would also like to acknowledge the valuable contributions of all Heads of Departments and staff members of the Faculty, who are supporting this initiative in numerous ways. Importantly, we appreciate the strong engagement and support from NEDA, especially from Mr. Dhanuka Liyanagamage (Director), Mr. Nalin Dias (Assistant Director), Ms. Oshani Bodhiwansa (Assistant Director), and other dedicated members of the NEDA team who are working closely with OUSL to make this collaboration a success.
These initiatives serve as exemplary models of how OUSL is bridging academic learning with real-world business challenges. By embedding SME sector engagement into student projects and assessments, FMS is not only enhancing academic quality but also contributing to the broader economic development agenda. This collaboration with NEDA represents the first of many planned interventions to strengthen the university’s role in supporting the SME sector through experiential learning and applied research.
Conclusion
We need to learn lessons from the past and need to have a proper analysis of the performance with prudent decision-making. In that context, there should be different models to have links with the SME sector and to have proper partnerships with academia and industry.The MOU signed with OUSL and NEDA can be considered as one of the important initiatives with much potential.I think as Sri Lankans, we need to understand the duty of the hour and provide the best for the country.
(The writer is a Professor in Management Studies ,Open University of Sri Lanka and You can reach Professor Abeysekera via nalinabeysekera@gmail.com.)
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