NIBM launches Best Innovative Business Model Awards 2026, introducing a national platform designed to recognise organisations that demonstrate outstanding innovation while strengthening Sri Lanka’s business ecosystem and long-term economic competitiveness.
NIBM launches Best Innovative Business Model Awards 2026 to honour innovation
The National Institute of Business Management (NIBM) officially unveiled the Best Innovative Business Model Awards (BIBMA) 2026 on 14 July, reinforcing its commitment to promoting business innovation, organisational excellence and sustainable economic growth. As the institute approaches six decades of service in education, research, consultancy and industry engagement, the initiative marks another step in supporting future-ready enterprises across Sri Lanka.
BIBMA 2026 has been established as a prestigious national awards programme that recognises organisations transforming the way they create, deliver and capture value in an increasingly competitive business environment. The initiative also aims to establish a national benchmark for innovative business models while encouraging companies to embrace innovation, sustainability and long-term competitiveness.
The awards programme is open to organisations across four sectors: Start-ups, Micro, Small and Medium Enterprises (MSMEs), Large Corporates and Public Enterprises. A total of 30 awards will be presented across these categories.
Applications officially opened following the launch, with submissions closing on 15 September 2026. Shortlisted organisations will be announced by 15 November, before progressing to the final evaluation stage and the awards gala later this year.
The evaluation framework for BIBMA 2026 is based on the internationally recognised Business Model Canvas developed by Alexander Osterwalder and Yves Pigneur, while also incorporating the United Nations Sustainable Development Goals (SDGs). Participating organisations will be assessed across nine key dimensions, including partnerships, activities, resources, value propositions, customer relationships, channels, revenue streams, cost structure and sustainability integration.
Beyond recognising excellence, the awards programme has been designed to help organisations benchmark their performance against internationally recognised standards through an independent and transparent assessment process. Evaluations will be conducted by a council comprising academics, industry experts, policymakers and business leaders.
Commenting on the initiative, NIBM Chairman Dr. Chinthake Perera said innovation remains the foundation of sustainable business success in today’s rapidly changing global economy. He noted that BIBMA 2026 provides a credible national platform that encourages organisations to rethink how they create value while building resilient business models capable of competing internationally.
Director General Dr. D.M.A. Kulasooriya said the institute has spent nearly six decades developing professionals and organisations that contribute to Sri Lanka’s economic progress. He described the awards as a natural extension of NIBM’s business consultancy initiatives, enabling organisations to benchmark themselves while promoting business innovation, competitiveness and sustainable growth.
NIBM School of Business Director Kolitha Ranawaka said the programme reflects the institution’s expertise in business education, executive development and consultancy. He expressed confidence that BIBMA 2026 would inspire organisations to continuously strengthen their business models and enhance competitiveness.
Steering Committee Chair Dr. Baratha Dewanarayana added that the awards were designed to celebrate organisations that have successfully reimagined how value is created, delivered and sustained while promoting continuous innovation and cross-sector learning.
Project Lead Sandamini Withanachchi said participating organisations would gain valuable opportunities to benchmark their operations, receive national recognition and evaluate their strengths against recognised best practices.
In addition to recognising excellence, the initiative aims to facilitate knowledge sharing, collaboration and networking among Sri Lanka’s business leaders. By bringing together organisations from diverse sectors under a common framework, BIBMA 2026 seeks to encourage the adoption of innovative and sustainable business practices that contribute to national economic development.
NIBM launches Best Innovative Business Model Awards 2026 as part of its broader mission to foster innovation-led growth and build globally competitive organisations. Interested organisations can submit applications through the official BIBMA website, with application fees ranging from Rs. 10,000 for start-ups to Rs. 75,000 for large corporates.