JRDC and TRACE sign agreement to accelerate development in Sri Lanka
View(s):The China-Sri Lanka Joint Research and Demonstration Centre for Water Technology (JRDC) and TRACE (Technologically Reawakening Culture of Excellence) have signed a memorandum of understanding to accelerate scientific, technological, and entrepreneurial development in Sri Lanka.
This partnership leverages the strengths of both organisations to drive innovation, commercialisation, and economic growth. JRDC, affiliated with the Ministry of Water Supply and Estate Infrastructure Development, is dedicated to advancing scientific and technological capabilities and building international research collaborations.
TRACE, a leader in technology and entrepreneurship, will oversee JRDC’s co-working space, virtual office programme, and other facilities. The collaboration is anticipated to significantly boost JRDC’s revenue. The MoU outlines plans to create an innovation park, a common production facility, and incubation space.
The commercial arm of the University of Peradeniya, in collaboration with JRDC and TRACE, will assist in identifying and supporting industries and entrepreneurs for the incubation space. This initiative aims to support micro, small, and medium enterprises (MSMEs) by providing crucial machinery for the production facility. This agreement represents a major milestone in advancing scientific progress and entrepreneurial success in Sri Lanka, contributing to the country’s economic and technological advancement.
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