Sri Lanka’s National Nanotechnology Initiative (SLNNI) commenced in 2006 with the approval of Cabinet on a proposal made by H.E. the President. The objective of the initiative is to make Sri Lanka an industrial power through nanotechnology based industry using our own raw materials and human resources.
- Establishment of NANCO (Pvt) Ltd. in July 2008.
- Establishment of the Sri Lanka Institute of Nanotechnology (Pvt) Ltd. (SLINTEC) in April, 2008.
- Merger of NANCO (Pvt) Ltd. and SLINTEC (Pvt) Ltd.
- Establishment of a world class Nanotechnology Laboratory.
- Establishment of a Nanoscience Park.
NANCO (Pvt) Ltd. was first established in July 2008 as a fully Government owned private Company with the following objectives
(a) To build, operate and managing a Nanoscience Park including a Nanoscience Centre ; and
(b) To undertake research and development in Nanotechnology for value addition for export oriented manufacturing companies.
The shares of the Company are held by the National Science Foundation on behalf of the Government. BOI approval was obtained for this Company to operate a project to develop and manage a Nanoscience Park with an envisaged investment of US$10,000,000/-.
The Sri Lanka Institute of Nanotechnology (Pvt) Ltd. was established in April 2008 as a private Company under the Companies Act, No. 7 of 2007 and has been engaged in developing applications for nanotechnology through Research and Development since August 2009 with private sector partners.
SLINTEC is a Rs. 420 Million venture with the shareholding of the Company owned by GOSL (50%) and five Private Sector Founder Promoters (50% collectively). The GOSL shares are held through its nominee the National Science Foundation (NSF) and the five Private Sector Founder Promoters are (i) Brandix Lanka Ltd., (ii) Dialog Telecom PLC, (iii) Hayleys PLC, (iv) Loadstar (Private) Ltd., and (v) MAS Capital (Pvt) Limited.
SLINTEC set up its science laboratories, recruited Scientists and engaged in research projects of national relevance and of its industry partners. BOI approval was obtained for this Company to set up a project to undertake research and development in Nanotechnology for value addition and to provide for export oriented manufacturing Companies with an envisaged investment of US$ 4,200,000/-.
Please visit www.susnanotec.lk for further information. With effect from March 31st, 2011, SLINTEC will be merged with NANCO and the present activities and functions of SLINTEC will be continued as a division within the merged Company.
In 2010, the Boards of Directors of NANCO (Pvt) Ltd. and SLINTEC (Pvt.) Ltd. resolved that the two Companies should be amalgamated since the separation of functions between NANCO and SLINTEC results in an overlapping of functions and responsibilities, inefficient use of limited resources and undermines the long term sustainability of the NNI. Further, because of the very satisfactory progress of SLINTEC, it was considered opportune to merge the two entities, under the umbrella of NANCO, as was the original intention of the SLNNI, to achieve maximum rapid development of the whole enterprise. The Boards of the two Companies resolved that it would be in the best interests of the two Companies to amalgamate into a single entity.
Accordingly, with the approval of the Cabinet of Ministers, SLINTEC (Pvt) Ltd., was merged with NANCO (Pvt) Ltd. and, with effect from March 31st, 2011, functions as NANCO (PVT) Ltd. The objectives of NANCO (Pvt) Ltd. after merger are as follows
Objectives of NANCO (Pvt) Ltd.
- To develop nanotechnology in identified fields, engage in such activities and business that will create wealth for the nation, technically exploit natural resources and indigenous human capital of Sri Lanka and bring industry closer to academia with a view to exploiting industrial property and for this purpose to promote, inter-alia, the development of human resources in high end technologies.
- To build operate and manage a NanosciencePark including a NanoscienceCentre with a Laboratory complex for advanced technologies which will serve as a National Centre for advanced technologies, for the purpose of
developing high technology areas, including Biotechnology, Electronics, Information Communication Technology, Advanced materials, advanced design and manufacturing, through purpose built infrastructure facilities within the Science Park as well as outside the Science Park ; and
Making available laboratory, incubation, business development and manufacturing facilities within the Centre, to local and overseas Research and Development Institutions, Universities and industries. ; and
serving local academia and industry in research and development in Nanotechnology related fields and to generally promote encourage and facilitate commercial exploitation of the intellectual property generated within Sri Lanka in the above fields.
- To undertake research and development and related activities in Nanotechnology for value addition and to provide and facilitate such services for domestic and export oriented manufacturing companies.
- The Company shall not be restricted by the above objects to engage in any other sphere of activity in nanotechnology or other related business that the shareholders may from time to time determine with the prior written approval of the Board of Investment of Sri Lanka.