Schemes to support industrial innovations in India and Sri Lanka

India Sri Lanka
PATSER & TePP support industries for technology development and absorption of foreign technology, Building indigenous capabilities for development and  commercialisation of contemporary products and process of high impact and  support  national research organizations in joint projects with industry Research grants scheme of the NSF support industry oriented research grants and  Research Assistantships (industry)
Technology Development Fund aims at accelerating the development and commercialisation of indigenous technologies or adapting imported technology  to wider domestic applications Technology Watch Centre of the NSF search and provide information on new technologies to the potential industries
Home grown technology programme provides financial assistance in the form of soft loan to innovative industrial units and research laboratories to scale up their technologies to pilot/semi commercial scale. STPD project of the Ministry of S&T fund organization of  workshops for knowledge up gradation in  industries , establishment of S&T information system for online access, establishment of industry interaction units/centres in universities  and postgraduate programs in industry related areas
National Millennium India Technology leaderships Initiative aims to support innovation cantered S&T developments as a vehicle to attain for the country a position of global leadership in some  selected niche areas. Agro Enterprise Development Fund (AEDF) provides funds on interest free basis  with a grace period of one year and a repayment period of 4 years a to promote the introduction and development of new technologies and agriculture, agribusiness organizations. The Fund is to be implemented by the Ministry of Finance (MOF).
Technology Bureau for Small Enterprises offer mechanisms for arranging technology and finance and takes up project appraisal and preparation of business finance for syndication Industrial master plan introduced several policy initiatives
National Information System for Science and Technology aims to provide latest bibliographic information in a selected S&T areas through online computer network New venture capital companies are encouraged through incentive schemes (5 year tax holidays) and relaxation of exchange control
Human resource endowment fund targeting to finance training to upgrade the skills of the workforce, and private tertiary education and vocational training , is in the pipeline
The first Industrial Incubator “Navabima” to assist start up business was set up in June 2003 at the University of Moratuwa
Ruhuna Business Incubator (RBI) was established in Feb 2003 , at close proximity to the Faculty of Agriculture of the University of Ruhuna under the initiative of UNIDO.  RBI will be a centre for enterprise development for budding entrepreneurs.

The NSF has established a Working Committee on IP & commercialisation of Research with a view to advise on systems/mechanisms, incentives to be established to enhance commercialisation of R&D results

Ministry of Industries has established an Industrial Incubator in 2002  for SMEs to nurture young industries until maturity by providing on site management, marketing, business and technical support  services and access to financial facilities.

Note :

Rainbow Master plan of Sri Lanka has noted the constraints in the financial system such as high interest rates, lack of long-term  funding at reasonable cost , loans provided against securities, lack of effective credit guarantee system and poor credit analysis and management on the part of banks. Hence it has recommended several financial and fiscal improvements.

  1. Concessionary loans for industrial sector at a low interest rate
  2. Fiscal incentives to promote introduction of advanced technologies, marketing , training and R&D for SMEs
  3. Effective credit guarantee system for SMEs and Venture capital support
  4. Improve loan recovery rates through reinforced credit analysis and management skills in Banks
  5. Improve accounting and financial skills of banks and increase transparency and accountability of banks

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This page was last updated 22/ 08 / 2005

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