Business Incubator Unit (BIU) – Department Of Economics

Business Incubator Unit (BIU) The main objective of establishing the Business Incubator Unit at the Department of Social Sciences, Faculty of Social Sciences and Humanities, is to inspire the interest among final year (both General and Special Degree Programs) undergraduates of the Faculty to take their first steps as entrepreneurs or start-up new business ventures upon graduation. In the long-run, this incubator will lead to develop and cultivate an entrepreneurial culture where Rajarata University of Sri Lanka can produce Small & Medium Enterprises (SMEs) in the regional economy and at the national level. It will further facilitate to address the unemployment issue in the economy while significantly contributing to the economic growth. In addition to its broader objective, the business incubator will focus on following points: To provide opportunities for undergraduates to learn the basic tools of business— identification of a potential business, planning of business, writing up a business proposal, sourcing of start-up finance, conducting market research, strategies of sales and marketing, and study good practices and models for effective graduate-focused business incubation. To provide opportunities for undergraduates to learn lessons from progressive entrepreneurs on how business ideas emerge, how they identify the business opportunities in the economy, the challenges they face, and the success and failure factors of a new business. To provide opportunities for undergraduates to discuss the existing business opportunities (potential business areas) in the economy and discuss their business ideas with business advisors or experts in the field. To provide opportunities for undergraduates to identify and form links with existing institutions and programs that support to establish and develop a new business in the economy.

Organized events

Workshop on entrepreneurship for undergraduates – the Department organized a workshop on entrepreneurship for undergraduates on 6^th and 7^th June 2020 with the collaboration of University Business Linkage Cell. About 200 students participated in the workshop. Mr. Tharaka Amarasena – Manager of Colombo Stock Exchange, Anuradhapura Branch was the resource person.