Technology Transfer Solutions for SMEs in Sri Lanka through University-Industry Collaboration

The development of small & medium enterprises (SMEs) is a vital factor for Sri Lanka as SMEs currently contribute to 52 % of the GDP. The growth of SMEs in Sri Lanka is mainly affected by the technology related problems such as, lack of customized machinery providers, limited resource availability for technological consultancy, lack of technical skill development programs and access to information. This research aims to investigate the opportunity of promoting the University-Industry collaboration as an influential tool to address the technological problems of SMEs by means of utilizing the research and innovative capabilities of universities. The data for the study were collected through review of previous literature, questionnaires, semi-structured interviews with SMEs & Industrial Development Board. Qualitative and quantitative analysis of this data aided authors to recognize the technological needs of SMEs that can be fulfilled through the university participation. Furthermore, this relationship will benefit both the parties to have a mutual gain where the knowledge and skills of universities are practically used in industrial applications and SMEs will receive technological support. Also, it was identified that, the application of entrepreneurial university concept can further strengthen this relationship in future, where an entrepreneur can be erected from a university background who can act as the technology transfer intermediator between SMEs and universities.