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Status of biotechnology in Sri Lanka :Challenges Prof. Roshan Perera, KDU
- 1. Emerging Technology Systems of Innovation in Sri Lanka: Current Status and Challenges Status of biotechnology in Sri Lanka CHALLENGES ROSHAN PERERA KDU-CARE INSTITUTE FOR COMBINATORIAL ADVANCED RESEARCH & EDUCATION GENERAL SIR JOHN KOTELAWALA DEFENCE UNIVERSITY
- 2. Forward Looking Challengers Power to make or break economies 1. Role of the government 2. Role of the large businesses and SMEs 3. What factors govern the global market 4. Three rating agencies and their role (Standard & Poor's (S&P), Moody's, and Fitch Group) Biotechnology designs methodologies at the intersection of Chemistry, Biology and Technology
- 3. Turning Innovative Ideas into Market Offerings • proactive scouting for ‘out of the box’ pragmatic innovative ideas • respecting the freedom to fail • Innovators need a space for freedom, passion and entrepreneurship to develop their concept • integrating Sri Lankan cultural dimension as part of biotechnology innovation • mixing internal and external (foreign) expert skills in innovation team • keeping process lean, avoiding bureaucracy CHALLENGE # 1
- 4. Top 5 Factors in Success Across more than 200 Companies 1. TIMING 2. TEAM 3. PLAN 4. IDEAS 5. FUNDING CHALLENGE # 2
- 5. Large Businesses Government Agencies SMEs PPP Converting Innovation to Economic Value CHALLENGE # 3 Who should run the biotechnological innovation pipeline in Sri Lanka?
- 6. Interaction Between Large Businesses and SMEs • Large businesses can guarantee revenue streams enable SMEs to develop growth strategies. • Large organisations can train future entrepreneurs who in turn set up their own SMEs, driving innovation in the economy. However, large businesses can also hamper SME growth through 1. late payments, 2. pressure to drive costs down, 3. administrative compliance with procurement and audit procedures, • Government should medaite communications between large and smaller businesses to help SMEs Suggestions in this area includes: • The use of trade forums to encourage more networking and collaborative working. • The development of a BIOTECHNOLOGY SME DIRECTORY (BSD) to enable large businesses to identify the most appropriate suppliers. CHALLENGE # 4
- 7. Trickle-down economics CHALLENGE # 5 The richest 10% owned 87.7% ($220 trillion) of the world's wealth, leaving 12.3 percent for the bottom 90 percent of the population. Global Assets = $250 trillion
- 8. Reaganomics!
Editor's Notes
- Large businesses can be highly important to stimulating SME growth. Guaranteed revenue streams enable SMEs to develop growth strategies. Being an accredited supplier can lead to more exposure and work, and large organisations assist in up skilling SMEs and improving their work processes. Large organisations also train future entrepreneurs who in turn set up their own SMEs, driving innovation in the economy. However, large businesses can also hamper SME growth through late payments, pressure to drive costs down, and the burdensome, administrative compliance with procurement and audit procedures, especially since these are different for each customer. Businesses involved in this study suggested a number of ways to improve relationships and encourage future growth. These included: Improving understanding of the SME business model in large businesses, particularly with respect to difficulties of cash flow – possibly through large organisations having staff that have worked for an SME. Improving payment terms for SMEs – at a legislative level. Setting targets for the proportion of business that large organisations commission from SMEs, to overcome the tendency for them to rely on large organisations for their business needs. Improving communications between large and smaller businesses to help SMEs plan more effectively. Suggestions in this area included: The use of trade forums to encourage more networking and collaborative working. The development of an SME directory to enable large businesses to identify the most appropriate suppliers.