Ricky Mendis becomes first platinum sponsor of SLINTEC Endowment Fund

Friday, 16 August 2013 03:45 - - {{hitsCtrl.values.hits}}

The Sri Lanka Institute of Nanotechnology (SLINTEC) yesterday announced that F.G.N. (Ricky) Mendis became the first donor to its newly established Permanent Endowment Fund, by donating Rs. 25 million to become a platinum sponsor. SLINTEC is a public-private partnership between the Government of Sri Lanka and five private companies, namely Brandix, Dialog, Hayleys, Loadstar and MAS Holdings. Its mandate is to add value to the Sri Lankan industries by helping them contribute to the GDP through innovations in nanotechnology and advanced technologies.

The SLINTEC Endowment Fund, set up in August 2013, is a trust which accepts donations from individuals as well as institutions. Over time, the Endowment Fund’s income will be used to fund research and other initiatives at SLINTEC which are beneficial to the Sri Lankan society. The Endowment Fund will enhance SLINTEC’s ability to carry out pioneering research in nanotechnology and advanced technology, enabling longer term strategic research ideas and concepts to be explored earlier at a more speculative stage. Recognising the contribution made towards research and innovation by SLINTEC since its inception, the corporate sector has been supportive through various investments into specific areas of research in nanotechnology. The Endowment Fund will extend this by offering individuals and institutions, who foresee the importance of nanotechnology in Sri Lanka’s development and SLINTEC’s role in sustaining a steady flow of research in this area, to contribute in a private capacity. The donation by Ricky Mendis to establish the SLINTEC Endowment Fund is particulaly timely given the importance of scientific and technological research and development to the country’s continued economic development. Speaking at the occasion, Mendis said: “Having visited the laboratories of the Sri Lanka Institute of Nanotechnology and seeing the valuable work done by the institute, I am impressed by the tremendous potential of the project. Although a relatively new organisation, what they have achieved and what they are setting out to achieve is commendable. I am confident that the development of nanotechnology will be of great benefit to our country in the future. I decided to help them in a small way on their way forward. As the pioneer donor, I hope others will follow suit in supporting this venture.” Gifts to the Endowment Fund will be managed according to professional guidelines similar to those which apply to charities. It will come under the purview of the SLINTEC Board who will be the trustees of the fund. SLINTEC hopes to attract a broad base of donors through the flexibility of the program and its donor friendly approach. SLINTEC is optimistic that this pioneering contribution to the Endowment Fund by Ricky Mendis will become a catalyst for its growth in the future. To learn more about the SLINTEC Endowment Fund, please contact CEO Harin de Silva Wijeyeratne on 0716219199 or email [email protected].