Innovation key activity in Govt.’s economic reforms: Rishad

Tuesday, 26 June 2018 00:20 - - {{hitsCtrl.values.hits}}

Minister of Industry and Commerce Rishad Bathiudeen inquires about a new innovation displayed by a group of University Students at INCO 2018 expo at BMICH on 23 June

Sri Lanka admitted its innovation rankings are low and some work needed in it, ahead of New York’s forthcoming Global Innovation ranking announcement of 10 July.

Sri Lanka wants its education system too to be involved so that innovation mind-set in the workforce could be developed from early on.

“We need to create interest in innovations from the secondary education levels – such an approach can lift Sri Lanka’s low ranking in Global Innovation Index (GII)” said the Minister of Industry and Commerce Rishad Bathiudeen on 23 June at BMICH.

Minister Bathiudeen was addressing the second day opening of INCO industrial expo at BMICH. The largest engineering related and most customer focused exhibition in Sri Lanka, INCO is endorsed by the Ministries of Industry and Commerce, Primary Industries, and Power and Renewable Energy and was organised by the Institution of Incorporated Engineers, Sri Lanka.

The 2018 expo is the 16th exhibition in the ongoing annual series presenting a unique opportunity to local and foreign investors, and companies entering the Lankan market for the first time. It is the best networking platform event for local and overseas investors vying for Lankan industrial sector.

“For us to develop our industries more and more innovations are needed,” said Minister Bathiudeen. “The Unity Government of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe plans to use innovations and research and development as part of its economic development vision. We need to create interest in innovations from early on, in that, from the secondary education levels; and we also should reward for successful innovations by our students. Such an approach can lift Sri Lanka’s rankings in Global Innovation Index to much better levels in the long run-from 2017’s low ranking of 90.”

Though several Lankan universities and other institutions conduct R&D, there is no introduction to innovations at any school education level. Sri Lanka is ranked 90th in GII report for 2017 and ranked 94th in the Innovation “Input Sub-Index” and 77th in “Innovation Output Sub-Index”. Sri Lanka has fallen 23 spots in Innovation Input in 2017 (though Sri Lanka has improved by 38 in Output Sub-Index).

The Global Innovation Index (GII) report for 2018 will be launched at Cornell Tech Campus, New York City on 10 July, with this year’s focus being the state of innovation in the energy sector across countries ranked.