Sri Lanka gets expert committee to steer R&D projects for investors

In an effort to unlock the economic potential of homegrown innovation, Cabinet nod was granted this week to establish a multi-disciplinary technical appraisal committee to fast-track research and development (R&D) projects for investment.

The committee, comprising specialists in technology, education, science, health, environment, sustainability, and social development, will evaluate proposals submitted to the National Access for Research and Development Commercialization (NARDC), a newly formed mechanism under the Presidential Secretariat.

The objective is to identify high-potential projects that are ready, or nearly ready, for market entry and to connect them with suitable investors, the Department of Government Information (DGI) said in a statement.

Despite ongoing efforts by the Board of Investment (BOI) and the Colombo Port City Economic Commission to facilitate investment, Sri Lanka lacks the necessary structure to appraise and scale R&D with commercial viability. The NARDC is expected to fill that void by providing a dedicated pathway to screen, support, and match research-backed innovations with capital.

A statement from the DGI said the initiative is designed not just to promote finished research but also to back value-added products and services that can deliver long-term returns—positioning Sri Lanka as a more compelling destination for innovation-focused investment.