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Govt. allocates Rs. 1 b for new framework to fund commercialisation of research and innovation
Daily FT
|November 06, 2025
Presidential Secretariat establishes new R&D Commercialisation Unit to evaluate and convert researchbased projects into viable commercial ventures Cabinet Spokesman Minister Dr. Nalinda Jayastissa says Rs. 2.2 b in applications received from local researchers and entrepreneurs seeking support under new initiative Notes structured evaluation system introduced, assessing projects for technical, administrative, economic, social and environmental impact
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Selected projects eligible for up to Rs. 50 m, with Rs. 10 m as initial grant and rest as repayable loan tied to 25% of annual net profit Bank of Ceylon and Treasury's Development Finance Department to jointly manage disbursement and oversight of approved projects
THE Government has taken a major step towards linking research and innovation with national economic goals, with the Cabinet of Ministers on Monday approving to implemen the 'Research and Development Commercialisation Approach, a new framework designed to fund and expedite high-impact projects under the Presidential Secretariat.
This story is from the November 06, 2025 edition of Daily FT.
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