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A meeting on initiating a Business Incubator in the University of Sri Jayewardenepura was held on the 15th May 2018, with Dr. Bandula Wijay of the University of Houston, USA, Ambassador, Science Technology and Innovation, Sri Lanka and Prof. Chandra Embuldeniya, Consultant Higher Education, Founder Vice Chancellor, Uva Wellassa University. The occasion was organized by the World Class University Project, graced by Prof. Sampath Amaratunge, Vice Chancellor of the University of Sri Jayewardenepura, along with Prof. Ranil de Silva, Director, World Class University Project, Prof. Dr. S. A. A. M. Subasinghe, Dean of the Faculty of Engineering, Prof. M. M. Pathmalal, Head of the Department of Zoology, and Prof. P. M. Jayaweera, Head of the Department of Chemistry of the University of Sri Jayewardenepura.
Prof. Bandula Wijay, as an Inventor, Engineer, Scientist, Educator, and Entrepreneur shared his very insightful thoughts and experience to strengthen this project a success, Prof. Chandra Embuldeniya shared his valuable suggestions. The initiation of the Business Incubator majorly focuses on incorporating all the faculties of the University of Sri Jayewardenepura in one platform to share the expertise and knowledge to develop various innovative ideas based on successful researchers into commercialized products. Furthermore, it is expected to provide advocacy to empower SMEs and penetrate international markets. The proposed entity is intended to be formed as a private institutional body within the University of Sri Jayewardenepura to link innovators, entrepreneurs, faculties and venture capitalists to develop businesses which generate profits to all parties involved.