NIBM launches Best Innovative Business Model Awards to recognise business excellence

The National Institute of Business Management (NIBM), Sri Lanka’s premier education and management institute, officially launched the Best Innovative Business Model Awards (BIBMA) 2026 on July 14, reaffirming its commitment to promoting business excellence, innovation and sustainable economic growth in Sri Lanka.

As NIBM approaches six decades of excellence in education, research, consultancy and industry engagement, the Institute continues to introduce initiatives aimed at strengthening the country’s business ecosystem and supporting globally competitive organisations.

BIBMA 2026 has been introduced as a prestigious national platform to recognise organisations that have transformed the way they create, deliver and capture value in today’s rapidly evolving business environment. The awards seek to establish a national benchmark for innovative business models while encouraging organisations 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), Corporates and Public Enterprises — with 30 awards to be presented across these categories.

Applications officially opened at the launch event, with submissions closing on September 15, 2026. Shortlisted organisations will be notified by November 15, 2026, before progressing to the final evaluation stage and the prestigious Awards Gala later this year.

More than an awards programme, BIBMA 2026 has been developed as a national initiative to promote business excellence, encourage continuous innovation and strengthen Sri Lanka’s business ecosystem.

Dr. E. N. Chinthake Perera, Chairman of NIBM, said: “Innovation is the cornerstone of sustainable business success in today’s rapidly evolving world. Through BIBMA 2026, NIBM is creating a credible national platform that encourages organisations to rethink how they create value, embrace innovation and compete on a global stage. This initiative reflects our commitment to supporting Sri Lankan enterprises in building resilient, future-ready business models that contribute to the nation’s economic growth.”

Dr. D.M.A. Kulasooriya, Director General of NIBM, said: “BIBMA 2026 introduces a new dimension to our business consultancy initiatives by recognising innovative business models that create sustainable value. Through this programme, we aim to help organisations benchmark themselves against internationally recognised standards while fostering innovation, competitiveness and long-term growth.”

Organisations interested in participating may submit applications through the official BIBMA website. Applications are accepted under four categories: Start-ups – LKR 10,000, MSMEs – LKR 25,000, Public Enterprises – LKR 30,000 and Large Corporates – LKR 75,000

More information is at www.ibma.lk or email [email protected].