Idea Cloud 2026

Theme: Creativity in Action: Nurturing the Innovators of a New Era"

Introduction

Creativity and innovation are key drivers of social and economic transformation, enabling individuals and communities to adapt, grow, and thrive in an increasingly dynamic world. Developing the ability to recognize opportunities, generate practical solutions, and enhance logical and analytical skills is essential for empowering the younger generation to succeed in today’s fast-paced environment. Universities play a pivotal role in fostering this mindset, equipping students with the skills, knowledge, and confidence to transform ideas into impactful ventures. Thus, the Faculty of Management and Finance, University of Ruhuna, as one of Sri Lanka’s leading management faculties, has consistently contributed to the development of entrepreneurial talent in the country. Through continuous efforts to strengthen the entrepreneurial ecosystem, the faculty encourages creativity and innovation among students, enabling them to develop ideas that can make a meaningful contribution to society and the economy.

Idea Cloud is a business concept competition where tertiary students and school-level students can pitch their creative ideas that propose alternatives for social and economic development in Sri Lanka. The main objective of the competition is to develop a platform to encourage innovative entrepreneurial ideas of the students. The competition will take place with the International Conference on Management and Economics for the seventh time in 2026. Concepts that can serve as the basis for a new business but have not yet been commercialized are eligible. Participants are invited to submit original concepts for new products, business models, businesses, or infrastructure improvements.

Objectives 

• To provide a platform for students to present innovative and creative ideas that address social, economic, and environmental challenges.
• To facilitate the development of viable business concepts into actionable ventures, enabling participants to transform their ideas into successful start-ups.
• To foster creativity, critical thinking, and entrepreneurial skills among students, while offering mentorship and industry guidance for further development.

Target audience: 

• Undergraduates of all State Universities and other Higher Educational institutions in Sri Lanka.

Process of competition:

• Calling for ideas/ proposals
• Evaluation - Selecting best 5 ideas/proposal for final round 
• Final Presentation and Evaluation – Conducted prior to ICME 2026, allowing selected ideas to be finalized and refined. Certificates and awards will be presented during the conference, ensuring recognition at the main event

Awards:

• Three best business ideas/proposals- based on the presentations