As stipulated in paragraph 11(f) of the Sri Lanka Inventors Incentives Act the Presidential Awards are given annually to Sri Lankan citizens for their patented inventions or innovations. Sri Lankan individuals, groups, or institutions who have made inventions or innovations that are patented in Sri Lanka during the year have been evaluated by the jury appointed by the President of Sri Lanka to recommend Presidential Award winners.

The overall best invention of each year is given the “Presidential Award of the Year” award.

The competition is open to fourteen technical fields namely;

1. Public Safety, welfare and National Defense
2. Food Technology
3. Medicine and Pharmacy
4. Public Works and Infrastructure Engineering
5. Information and Communication Technology
6. Applied Sciences and Technology
7. Environmental Conservation
8. Chemistry
9. Traditional Medicine
10. Physics
11. Agriculture
12. Energy
13. Transportation
14. Engineering

The Sri Lanka Inventors Commission (SLIC), in collaboration with the Southern Provincial Industrial Development Authority, Southern Provincial Ministry of Industries, University of Ruhuna, Southern Provincial Department of Education, and the Southern Provincial Department of Agriculture, has launched “Southern InnovaBiz” – a special initiative to strengthen the innovation ecosystem in the Southern Province.

This program provides financial assistance of up to Rs. 500,000 (subject to conditions) and technical support for inventors to develop prototypes of their innovations with commercialization potential.

Key Objectives

✔ Empowering inventors by providing financial and technical support for prototype development.
✔ Identifying inventions, securing intellectual property rights, and directing them towards commercialization.
✔ Uplifting innovation within the Southern Province to contribute to national production and income.
✔ Ensuring effective and integrated project implementation through institutional collaboration.

Application Process

1️⃣ Submit the completed application.
2️⃣ Verification of required information (e.g., patent details).
3️⃣ Selection process.
4️⃣ Signing of agreement with the Southern Provincial Industrial Development Authority.
5️⃣ Release of funds according to the grant agreement.
6️⃣ Final evaluation by the six partner institutions.

Important Instructions for Applicants

• Provide accurate and clear information in the application.
• Indicate the name(s) of inventor(s)/partners as per National Identity Card.
• Ensure the applicant(s) signature(s) are included.
• Mention the relevant patent number/patent application number and attach the certificate if already granted.
• Submit the project plan (in the given format) and a one-page description explaining how the project benefits align with the program objectives.

How to Apply

Applications can be downloaded as follows

📥 Download Application – School Category

📥 Download Application – Open Category:

ශ්‍රී ලංකා නව නිපැයුම්කරුවන්ගේ කොමිසම මගින් රට තුල මතු වී තිබෙන කාලීන ගැටලුවලට නව නිපැයුම් මගින් විසදුම් ලබා දීමේ නව ව්‍යාපෘතියක් මේ වන විට ආරම්භ කර ඇත. කාලීන ගැටලුවලට නවෝත්පාදන විසදුම් ඔබ සතුනම් ඔබේ විසදුම් පහත වෙබ් සැබඳිය මගින් අප වෙත ඉදිරිපත් කරන්න.

https://docs.google.com/forms/d/1KX6g3X2XrBdSLPL_3lpHR7mN6TpO0dEekXsqcqEk-2k/edit

The Exhibition Venue – BMICH, Colombo

Dates – 25th April 2025 to 27th April 2025

Main categories of the competition

Inventors can apply for the competition in one of the following categories.

• School 
• Universities and Tertiary Educational Institutions 
• Open 
• Institutional 
• Commercialized (must have taken necessary steps to secure intellectual property rights)

---

Guide Lines

---

Evaluation Criteria

---

---

Technical Areas that can be applied for the Competition

Your invention/innovations should be applied under one of the most suitable Technical Field in the relevant category.

Public Safety, Welfare and National Defense	Applied Sciences and Technology
Physics	Energy
Medicine and Pharmacy	Environmental Conservation
Traditional Medicine	Engineering
Agriculture	Information and Communication Technology
Food Technology	Transportation
Chemistry	Public Works and Infrastructure Engineering

                        Registration Fee on behalf of Applicants for the Competition

Category	Registration Fee (Per one invention)
School	Free of charge
Universities and Tertiary Educational Institutes	Rs. 1,000/=
Open	Rs. 2,500/=
Institutional	Rs. 2,500/=
Commercialized	Rs. 5,000/=

Payment details (Bank Account Details)

Account Name – Sri Lanka Inventors Commission 

Account Number – 033100101791066

Branch – People’s Bank, Headquarters Branch

Closing Date for Apply: 18^th November 2024

Event Dates and Venue – to be informed soon

---

---

---

---

---

---

National Level

Event Dates and Venue – to be informed soon

InnovaBiz Interest Relief Program

The InnovaBiz Interest Relief Program is designed to support Sri Lankan inventors by providing financial, technical, and legal assistance to help commercialize their inventions. This initiative, managed by the Sri Lanka Inventors Commission (SLIC), aims to foster innovation and enhance the contribution of inventions to the national and export economy.

Program Objectives

The InnovaBiz Program seeks to provide financial backing for invention-based business entities at the initial stages or at a technological or production-based business enlargement by facilitating and increasing the efficiency of repayment for the loans of financial institutes, including government financial institutes.

Application Process

• Bank Loan Approval: Obtain a commercial loan from a recognized Sri Lankan bank
• Submit Application: Complete the SLIC application form and attach:
  • Evidence of loan usage for commercialization
  • 5-year forecast of production, sales, and profits
  • Bank confirmation letter of loan approval and repayment terms
• Assessment: Applications are reviewed based on national priorities, social benefits, and potential return on investment

Financial Support

• Interest Reimbursement:
  • Patented inventions: Maximum 75% of the interest rate
  • Pending patents: Maximum 37.5% of the interest rate (once the patent is granted during the payment period, it will be shifted to be benefited under the patented category)
• Reimbursement is capped at Rs. 1 million, over a maximum period of 5 years
• Monthly Reporting: Inventors must submit evidence of monthly installment payments and commercialization progress reports to receive reimbursement

Monitoring and Evaluation

• Quarterly Reviews: Field visits and progress reports by SLIC staff and ministry representatives
• Compliance: Adherence to the terms of the loan and effective use of funds are mandatory for continued support

Terms and Conditions

• Active Patent: Support is only provided for active patents
• Patent Rejection: In case of patent rejection, support will be discontinued
• Agreement Termination: SLIC reserves the right to terminate the agreement for non-compliance

For More Details

Visit or contact the Special Projects Division at:

Address: 5th Floor, “Mehewara Piyesa” Building, Colombo 05, Sri Lanka
Phone: +94 112676650
Email: info@slic.gov.lk