Wednesday July 15, 2026 2:13 pm ECONOMYNEXT — The National Institute of Business Management (NIBM) has launched the Best Innovative Business Model Awards (BIBMA) 2026 to recognize and benchmark innovative organizations across Sri Lanka. The awards aim to establish a national fra…
Wednesday July 15, 2026 2:13 pm
ECONOMYNEXT — The National Institute of Business Management (NIBM) has launched the Best Innovative Business Model Awards (BIBMA) 2026 to recognize and benchmark innovative organizations across Sri Lanka. The awards aim to establish a national framework for businesses that have transformed how they create, deliver, and capture value, while encouraging long-term competitiveness and sustainability. “As a country, we are moving forward from the recovery economy towards a sustainable resilient economy. Definitely the business community has to play a significant role in the development of the country,” NIBM Chairman E N Chinthake Perera said stressing that the private sector has a critical role as the country transitions towards economic resilience. The transition will not happen overnight but rather will be a continuous process driven by innovative ideas, he said, speaking at the launch event. He added that BIBMA 2026 is a platform to bring together more than 500 companies from across the country to share their knowledge and experiences. The competition is open to organizations across four primary sectors: Start-ups, Micro, Small and Medium Enterprises (MSMEs), Corporates, and Public Enterprises. A total of 30 awards will be presented across these categories. Applications for the awards officially opened at the launch event and will close on September 15, 2026. Shortlisted entities will be notified by November 15, 2026, ahead of the final evaluation and the Awards Gala later in the year. The evaluation will follow an international framework based on the Business Model Canvas integrated with the United Nations Sustainable Development Goals (SDGs). Organizations will be assessed across key dimensions, including value propositions, customer relationships, revenue streams, cost structures, and sustainability integration. Application fees are structured at LKR 10,000 for Start-ups, LKR 25,000 for MSMEs, LKR 30,000 for Public Enterprises, and LKR 75,000 for Large Corporates. Interested participants can apply through the official website – https://ibma.lk/. (Colombo/Jul15/2026)