Press briefing of Cabinet Decision taken on 2017-12-12

Establishment of incubators in five districts

- Rs.100 million has been allocated through the Budget proposals 2017, to establish an Innovation Accelerator Fund and to set up incubators in five districts to support startup. Accordingly, it has been designed to implement the Innovation Accelerator Fund under the Innovators Fund presently being operated and measures have been taken to set up incubators through the Universities of Peradeniya and Jaffna and the National Engineering Research and Development Corporation. As such, the proposal made by Hon. Susil Premajayantha, the Minister of Science, Technology and Research, to allocate the funds required for implementing the proposed two projects to the Sri Lanka Inventors Commission, was approved by the Cabinet.