Tuesday, 17 March 2015 00:57
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Signs MoU with Colombo Science & Technology Cell, University of Colombo
Hemas Holdings PLC launched its flagship innovation initiative focused on creating an innovative culture to accelerate the Group’s growth strategy within the core business areas of wellness, leisure and mobility. As a first step of this initiative Hemas signed a MoU with the “Cell,” the commercial arm of the Faculty of Science, University of Colombo.
The Group’s focus on innovation is centred upon the desire to push beyond the boundaries that Hemas has been respected for in its rich history of business. The Group intends to harness the benefits of open innovation by tapping into external sources for research and development to fast-track the Group’s growth strategies for the years ahead.
Through this agreement Hemas in collaboration with “Cell” will focus on developing new products within the personal care space to meet ever-changing consumer demands. Cell was established to promote and serve manufacturing and service industries in Sri Lanka through research, development, innovation, scientific services and knowledge and technology transfer.
The capital cost for the formation of the Cell was obtained through competitive funding from the Higher Education for the Twenty First Century project (HETC), which is funded by the World Bank under ‘Quality and Innovative Grant on Research Dissemination and Commercialisation Projects’.
Partnerships such as these would help foster an environment of innovation across the country and enhance opportunities for commercialisation of research and consultancy projects aimed at economic growth.
“Our FMCG business has been driven by innovative brands delivering the best in consumer experience. Going forward we are committed to improving and expanding our portfolio with the help of innovation at the core of all aspects of the business. We have created brands such as Baby Cheramy, Clogard, Kumarika, Velvet and Diva that are not only leaders in their respective categories but have also become household names. We strongly believe that our partnership with ‘Cell’ will benefit all stakeholders while enriching the lives of our consumers,” said Roy Joseph, Managing Director, Hemas Manufacturing.
“Cell has already established partnerships with several industries in the country and is delighted to join hands with Hemas to come up with innovative products. We are certain that the financial benefits from commercialisation endeavours will undoubtedly help the Faculty to elevate present status to serve the industries better. Such joint ventures will complement the strengths of both parties paving way for new innovations,” was the view of the Board of Directors of the Cell.
Director Strategy Dr. Himesh Fernando said: “We are focused on leveraging any innovation related initiatives in line with our business strategy. One integral part of this initiative is Open Innovation, where Hemas is forging partnerships with local universities to leverage their research and development resources in line with our business sectors for the development of new products. Our final aim is to fulfil our company’s vision ‘to be the best in enriching lives’. Therefore I believe innovation is key to the success of our vision”.
The Hemas Group is one of the leading conglomerates in Sri Lanka with a focus on four key sectors, namely Fast Moving Consumer Goods (FMCG), Healthcare, Transportation, and Leisure.
