Tuesday Sep 30, 2025
Tuesday Sep 30, 2025
Tuesday, 30 September 2025 00:26 - - {{hitsCtrl.values.hits}}
Representatives from HNB and SLIC, including HNB MD/CEO Damith Pallewatte, SME and Microfinances EVP Rajive Dissanayake, and Retail Banking SVP/Head Kanchana Karunagama, alongside Sri Lanka Inventors Commission Commissioner Prof. Veranja Karunaratne, joined by other members of HNB and SLIC teams
.HNB PLC, committed to driving innovation in Sri Lanka’s banking sector, has signed a MoU with the Sri Lanka Inventors Commission (SLIC) to support the existing and new inventors under the InnovaBiz EliteLink program. The partnership aims to provide Sri Lankan inventors with comprehensive support including financial assistance, technical guidance, commercialisation opportunities, and capacity-building initiatives.
Under the MoU, HNB will extend preferential loan schemes, interest relief, and expedited loan processing to eligible inventors. SLIC will recommend qualified inventors after conducting thorough technical feasibility evaluations, provide advisory support, reimburse interest portions for approved loans, and conduct training sessions to enhance technical and business capabilities. Together, the organisations have created a structured framework that supports inventors from ideation to market-ready products, contributing to national economic growth.
Highlighting HNB’s commitment to innovation, Managing Director / Chief Executive officer Damith Pallewatte said; “Innovation thrives when vision meets support, and this partnership with SLIC embodies that principle. At HNB, we are committed and continue to empowering inventors by providing the resources, guidance, and encouragement they need to turn ideas into reality. We are grateful to SLIC for joining us on this journey, and together, we aim to create a platform where creativity, perseverance, and collaboration can shape the future of the Sri Lankan economy.”
Representing the SLIC, Sri Lanka Inventors Commission Commissioner Prof. Veranja Karunaratne mentioned that innovation and subsequent commercialisation comes from creating environments where ideas can connect with financial resources. Also, successful innovation requires a commitment to collaboration by financial institutes like HNB
The collaboration ensures a robust system of accountability and transparency, with regular progress monitoring, technical and financial assessments, and strict data protection in line with national regulations. Inventors will benefit from access to investor networks, branding support, commercialisation guidance, and workshops designed to bridge the gap between innovation and market impact. Financial safeguards include interest reimbursement of up to seventy-five percent for patent holders and thirty-seven and a half percent for pending patent holders, as well as streamlined loan disbursement and recovery processes. Capacity-building sessions will strengthen both financial literacy and technical expertise, providing inventors with the tools to succeed.
This collaboration represents a decisive step towards building an innovation-driven economy in Sri Lanka. By integrating financial expertise with inventive talent, HNB and SLIC are creating a platform where ideas are transformed into enterprises, and inventions become engines of national progress.
