National Science Foundation is calling for applications for grants for Technology Development & Start up Businesses
National Science Foundation (NSF) promotes technology development and innovation for socio-economic development of Sri Lanka by building public-private, institution-industry partnerships. Grants are given to develop new technologies, products and processes addressing market needs and to start up businesses based on new technologies. Applications are called under the following two schemes.
1.Support for technology development
This is to support experimental development, scale up work, prototype development, adaptation of technologies etc. Outputs should have a market potential. Applicants must have proven track records for conducting such work. Applications are entertained from individuals/ organizations under three categories. Preference is given for collaborative work among categories.
Eligible costs: Equipment, consumables & material, consultancies, design engineering/fabrication, equipment hiring and testing/trials.
2.Support for start up businesses based on novel technologies
This is to facilitate entrepreneurial individuals/ teams/ companies to set up new businesses preferably based on novel technologies adapted and/or developed.
Eligible costs: Pre-operational expenditure such as minor equipment, initial consumables etc. part of expenses for consultancies to develop a business plan/ market surveys/ design & fabrication may be claimed for reimbursement.
Working capital such as rent, salaries/stipend, utility bills are not provided. Direct acquisition of technologies is not covered.
The applications must reach the NSF by February 15 ,2015
Grants are open to all and are considered under three categories
Category 1 Universities and R & D institutions
Category 2* Companies
Category 3* Individuals
* Grant amount is limited to 50% – 70% of the total project cost.
Maximum grant size will depend on proposed work and availability of funds. Only one grant is awarded to one principal applicant (first applicant). The details about grant schemes and conditions applied to each category are available at http://www.nsf.ac.lk or can be obtained by sending a self-addressed envelope to Technology Division, National Science Foundation. Completed applications in triplicate should be addressed to the Director General, NSF. Please indicate the scheme applied for on the top left hand corner of the envelope.
The following tax reliefs imposed by the government for research and technology may be applied for the scheme “Support for Technology Development”
- Reduction of personal income tax from 24-16% of all those who engaged in research and technology
- Reduction of income tax on all institutions engaged in research and technology to 20% and exemption from VAT.
- Triple reduction of tax in relation to R&D expenditure undertaken by enterprises through government institutions.
For more details contact to Director General, National Science Foundation, 47/5, Maitland Place, Colombo 07.
Or calls 011-2696771-3, 011-2676766
Or see below image