NIBM LAUNCHES BIBMA 2026 TO RECOGNISE SRI LANKA’S MOST INNOVATIVE ORGANISATION

STORY BY -NELUM BUDDHADASA

PICTURES BY – HERBERT PERERA

The National Institute of Business Management (NIBM) has launched the Best Innovative Business Model Awards (BIBMA) 2026, a national initiative aimed at recognising organisations that demonstrate excellence in innovation, sustainability and business model development.

Launched on July 14^th 2026 at a media conference held at the Cinnamon Grand Colombo, the awards are open to organisations across four sectors—Start-ups, Micro, Small and Medium Enterprises (MSMEs), Large Corporates and Public Enterprises—with 30 awards to be presented. Applications close on September 15, while shortlisted organisations will be announced by November 15 ahead of the awards gala later this year.

BIBMA 2026 adopts an evaluation framework based on the internationally recognised Business Model Canvas developed by Osterwalder and Pigneur, integrated with the United Nations Sustainable Development Goals (SDGs). Entries will be assessed across nine key business model dimensions, including value proposition, customer relationships, revenue streams, cost structure and sustainability integration.

NIBM Chairman Dr. E.N. Chinthake Perera stated that the initiative provides a credible national platform that encourages organisations to embrace innovation and build resilient, future-ready business models capable of competing globally. The Director General Dr. D.M.A. Kulasooriya also added that BIBMA 2026 extends NIBM’s longstanding role in business education and consultancy by helping organisations benchmark themselves against internationally recognised standards while promoting long-term growth and competitiveness.

Mr. Kolitha Ranawaka, Director of the NIBM School of Business, said the awards will provide an independent platform for organisations to evaluate and strengthen their business models. Steering Committee Chair Dr. Baratha Dewanarayana added that the initiative aims to establish a national benchmark for business excellence and sustainable innovation, while Project Lead Sandamini Withanachchi said BIBMA 2026 offers organisations the opportunity to gain national recognition, benchmark against industry best practices and build resilient business models that deliver long-term value.

In addition to recognising excellence, BIBMA 2026 seeks to promote knowledge sharing, collaboration and cross-sector learning among Sri Lanka’s business community. The application fees are LKR 10,000 for Start-ups, LKR 25,000 for MSMEs, LKR 30,000 for Public Enterprises and LKR 75,000 for Large Corporates. Further information is available at www.ibma.lk.

MR. D. M. A. KULASOORIYA - DIRECTOR GENERAL NIBM SEEN ADDR3ESSING