The education sector in Sri Lanka faces a significant challenge with a skill gap that hinders the seamless transition of graduates into the workforce. Despite the country’s high literacy rates, many educational institutions fall short in equipping students with the practical skills and knowledge demanded by the modern job market. This gap is particularly concerning in an era where entrepreneurship is becoming increasingly vital to Sri Lanka’s economic future.
Entrepreneurship offers the exciting potential to fuel innovation, create jobs, and foster economic resilience. In the current economic landscape, nurturing entrepreneurial skills and mindsets is more crucial than ever. Small and Medium Enterprises (SMEs) are the backbone of Sri Lanka’s economy, contributing substantially to employment and GDP. However, SMEs often struggle due to challenges such as limited access to finance, inadequate infrastructure, and a shortage of skilled labor. Bridging this skill gap is essential to empower SMEs and support their growth.
Universities play a crucial role in addressing the above challenges. Among them, The Open University of Sri Lanka (OUSL) is a prominent institution that plays a pivotal role in fostering entrepreneurship development. It serves as a valuable asset by offering accessible education and training that equips individuals with the essential skills for success in business through its extensive network of 27 study centers spanning across the nation. The Open University of Sri Lanka (OUSL) aims to emulate this through the establishment of the Entrepreneurship Development and Consultancy Unit (EDCU). This unit will serve as a catalyst for entrepreneurship development, fostering research, innovation, and partnerships with industry, society, and government.
In addition to the efforts of EDCU, there is a growing trend of public-private and community partnerships (PPCPs) aimed at enhancing entrepreneurship in Sri Lanka. The Entrepreneurship Development and Consultancy Unit (EDCU) of OUSL is actively collaborating with PPCPs to strengthen the overall entrepreneurial ecosystem. These collaborations between government bodies, private sector entities, and local communities provide a comprehensive support system that fosters innovation, encourages entrepreneurial initiatives, and ensures that the entrepreneurial spirit is nurtured and sustained across the country.
In addressing the skill gap in Sri Lanka’s education sector and promoting entrepreneurship EDCU will support the SME sector in Sri Lanka which will be achieved through the provision of entrepreneurship education, fostering research, facilitating networking, promoting an entrepreneurial culture, offering consultancy support, influencing policies, and engaging with the community. This initiative will create an environment where innovative ideas can transform into successful businesses, benefiting both the academic and business sectors.
Vision and Mission – EDCU
The Open University of Sri Lanka (OUSL) is deeply committed to cultivating an environment that encourages entrepreneurship and professionalism. Our vision and mission highlight our unwavering dedication to sustainable development by nurturing and supporting individuals who aspire to make a significant impact in their fields.
Our Vision
Our Mission
Inauguration Ceremony of the EDCU
The Inauguration Ceremony of the EDCU was successfully hosted on December 12, 2024, at Tulip Hall, BMICH. The primary objective of this ceremony was to provide awareness about the services delivered by the EDCU relevant to entrepreneurship education, consultancy services, networking opportunities, and initiatives aimed at community engagement.
The event was honored by the presence of distinguished guests, including Mr. Chathuranga Abeysinghe, the Honourable Deputy Minister of Industries and Entrepreneurship Development, who served as a guest speaker, and Professor Anurudhdhi S. Hapuarachchi, an expert in Artificial Intelligence, who delivered the keynote address. Also, the gathering was graced by the presence of esteemed invitees, including Prof. P.M.C. Thilakerathne, the Vice-Chancellor, Prof. Nalin Abeysekera, the Dean of the Faculty of Management, and Dr. Janaka Heenkenda, the Coordinator of the EDCU. In addition, the event was attended by a diverse group of distinguished academics, industry experts, government representatives, and entrepreneurs from the small and medium-sized enterprise (SME) sector.
Furthermore, two motivational speeches were delivered by Dr. Sujith Sudusinghe, Managing Director of Vetpharma Biotechnology (Pvt) Ltd, and Dr. Riyad Ismail, Managing Director and Chief Executive Officer of UTECH Technologies (Pvt) Ltd, who shared their inspiring success stories. As part of the event, the official launch of the EDCU website served to symbolically enhance the occasion.
Collaboration to set up a R&D Hub for Industry and Entrepreneurship Development – NEDA & EDCU,Open University of Sri Lanka (OUSL)
A productive discussion took place on January 15, 2025, between the Chairman and officials of the National Enterprise Development Authority and representatives from the Entrepreneurship Development and Consultancy Unit (EDCU), The Faculty of Management Studies, Open University of Sri Lanka including Vice-Chancellor Prof. P.M.C. Thilakerathne, Prof. Nalin Abeysekera, Dean of the Management Faculty, Dr. Janaka Heenkenda, Coordinator of the EDCU and other academics from the faculty. The primary focus of the discussion was to explore collaboration in establishing a Research and Development Hub with the aim of promoting industry and entrepreneurship development. The conversation also covered academic perspectives on creating a new roadmap for Small and Medium Enterprises (SMEs) development. A Memorandum of Understanding (MOU) is scheduled to be signed in February 2025 to clarify the tasks and responsibilities of both parties.
