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credits: DaiWebStudio

According to the Sri Lankan Ministry of National Policies and Economic Affairs, the Sri Lankan Government plans to create a knowledge-based social market economy and an export-oriented economy. Plans also see the creation of business and technology development areas island-wide, specialised in various sectors including tourism zones, although the present challenges, increasing national debts and the instability in political context, affect Government’s priorities.

So far, the EU has not supported Sri Lankan innovation and start up ecosystem, but provided support to the facilitation of the business environment, with focus on some sectors such as agriculture, handicraft, eco-tourism.

Recently, the Sri-Lankan National Export Strategy (NES 2018-2022, funded by the EU), recognised the importance of strengthening innovation, entrepreneurship and innovative sectors. In order to enhance EU intervention in these areas, the suggested approach, is centred on two phases, a first pilot phase, and a following implementing phase. This project lays in the first phase, expected to last for 1-2 years, combining support to existing actions and actors with the analysis and identification of future opportunities.

The global objective of the assignment is to improve the functioning of the innovation and start-up ecosystem.

The specific objectives are to:

1. Engage with key stakeholders of the ecosystem and piloting joint activities through technical cooperation
2. Assess how the EU could best support the Sri Lankan innovation and start-up/entrepreneurship ecosystem under future cooperation