National Chamber of Exporters, National Science Foundation partner to support innovation

The NCE will shortly enter into collaboration with the NSF through a Memorandum of Understanding (MoU) to create awareness among member exporters of the importance of innovation and to support their efforts for value addition through innovation.

Effective value addition to Sri Lankan export products and services through innovation is vital to be competitive in the international market place. High-tech value added products exported from Sri Lanka accounts for only 1.5% of total exports which is highly inadequate, compared to competitive countries.

The NCE initiated action in this direction a couple of years ago by including a special award to the ‘Most Innovative Exporter’ at the Annual Export Awards Ceremony of the Chamber. However this measure is in-sufficient to promote and support innovative value addition, to differentiate Sri Lankan products in the International market place.

The objective of the collaboration is therefore to support innovations related to products, processes and markets to widen the scope for innovations.

The NCE with the assistance of the NSF will create awareness regarding the benefits of innovation among member exporters for the sustainability and expansion of export markets and will also support member export companies with assistance through the ‘Technical Assistance Fund’ of the NSF to undertake R&D, and also to commercialise their innovative ideas.

The NCE will accommodate a Representative of the NSF to serve in the Council of the NCE to provide expert advice on a long term basis to realise the objectives of the collaboration.

Further the NCE will also accommodate a Representative of the NSF to serve as a member of the panel of judges to assist in the revision of criteria for the selection of the ‘Most Innovative Exporters’, as well as in the evaluation process to select and reward the ‘Most Innovative Exporters’ at the Annual Export Awards Ceremony. The NSF in turn will accommodate a representative of the NCE to serve in its National Committee on Innovation and Techno Entrepreneurship.