RMIT Sri Lanka Innovation Hub to boost R&D commercialization
Daily FT: The Royal Melbourne Institute of Technology (RMIT) is in high-level talks to establish an innovation hub in Sri Lanka that will connect universities, industry, and Government institutions with international research expertise, the President’s Media Division (PMD) said.
At a meeting held at the Presidential Secretariat recently, RMIT officials and senior representatives of the Secretariat discussed the initiative, which is being coordinated through the National Initiative for Research and Development Commercialisation (NIRDC).
According to the PMD, the proposed RMIT Sri Lanka Innovation Hub will strengthen joint doctoral programs, align research with national priorities, and expand opportunities for commercialising innovation.
The hub is also expected to provide training and global access for local researchers, students, and professionals, while creating avenues for new funding and investment into Sri Lanka’s R&D sector.
Participants at the discussion included Senior Additional Secretary to the President Russell Aponso, RMIT Deputy Vice-Chancellor (Research and Innovation) Prof. Calum Drummond, STEM College Deputy Vice-Chancellor (Research and Innovation) Prof. Sujeewa Sethunga, NIRDC Director General Dr. Muditha D. Senarath Yapa, and other officials.
OSL take:
The ongoing expansion witnessed in Sri Lanka’s overall economy and the expanding economic activities have created new business/investment opportunities with the development of the R&D sector emerging as lucrative business ventures in Sri Lanka. As Sri Lanka embarks on a journey to become a hub in the South Asian region, there are clear expansions in several sectors like the digital industry and the R&D industry with both these industries showing interconnections in many instances. The growth as well as profits recorded by businesses already engaged in Sri Lanka’s R&D sector and sectors related to it and the interest shown by many foreign businesses/investors in entering the sector in the country are all indicative of the growth and business potential in the sector. Given the fast-evolving global R&D sector and Sri Lanka’s need to be on par with the latest global developments have opened a host of business/investment opportunities in Sri Lanka’s R&D sector. With Sri Lanka on an aggressive development path, the business/investment opportunities emerging in the R&D sector would continuously revolve, ensuring a continuation in the returns provided by business ventures in the sector. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in the steadily growing R&D industry and related sectors in Sri Lanka.
| Article Code : | VBS/AT/20251007/Z_3 |