Colombo, August 6 In a landmark step for Sri Lanka’s technology sector, the Computer Society of Sri Lanka (CSSL) and the National Institute of Business Management’s (NIBM) Neo Ventures initiative have signed a Memorandum of Understanding (MoU) to foster innovation, strengthen industry – academia collaboration, and empower the country’s next generation of tech entrepreneurs. [...]
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Colombo, August 6 In a landmark step for Sri Lanka’s technology sector, the Computer Society of Sri Lanka (CSSL) and the National Institute of Business Management’s (NIBM) Neo Ventures initiative have signed a Memorandum of Understanding (MoU) to foster innovation, strengthen industry – academia collaboration, and empower the country’s next generation of tech entrepreneurs.
The signing ceremony, held at CSSL’s Head Office, brought together leaders from both institutions to formalise what industry observers describe as a significant alliance that could reshape the nation’s entrepreneurial landscape.
This partnership comes at a critical time, as Sri Lanka seeks to leverage its strong educational foundations and growing technology talent to create sustainable economic opportunities. It brings together CSSL’s three decades of experience in developing the ICT sector with NeoVentures’ fresh and focused approach to startup incubation.
“To grow the digital economy, we need more entrepreneurs,” said CSSL President Heshan Karunarathna during the ceremony. “This initiative is a timely step toward achieving that goal.”
NIBM Director General Dr. D.M.A. Kulasooriya highlighted the broader national significance of the agreement. “We are building capacity at multiple levels to change mindsets. Our aim is to produce job creators, not just job seekers,” he said.
Neo Ventures Director Keerthi Kodithuwakku explained that the startup accelerator is designed to address critical gaps in Sri Lanka’s entrepreneurial ecosystem. “We face both a knowledge gap and a skills gap. Through our one year programme, we will identify talented entrepreneurs, nurture them, and guide them toward success locally and internationally,” he said.
The agreement sets out several strategic priorities:
What makes this collaboration distinctive is its practical, hands on approach. Startups will benefit from targeted guidance through CSSL’s network of industry mentors, while Neo Ventures will provide a structured process to transform ideas into market ready products.
The partnership also aims to address the challenge of talent retention by creating compelling opportunities for skilled graduates to launch and scale companies within Sri Lanka helping to reduce the brain drain that has long affected the country’s technology sector.
The first joint programmes are expected to roll out in the coming months, focusing on emerging technologies where Sri Lankan talent can compete on the global stage while addressing local challenges. Planned initiatives include mentorship frameworks, technical workshops, and investor networking events.
More than a ceremonial agreement, the MoU signals the start of a coordinated effort to bridge the gap between academic excellence and commercial success. With its launch, both CSSL and Neo Ventures are positioning Sri Lanka to take a bold step toward becoming a recognised hub for technology innovation in the region.
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Print Edition – The Sunday Times, Sri Lanka
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