Annually around 30,000 school candidates sitting the G.C.E (Advanced Level) examination in science streams become eligible for university admissions (10,000 from physical science and 20,000 from biological science). However, recent statistics (2009/2010) indicate that the state universities can only accommodate 29 % and 44 % of the eligible students to the Biological Science and Physical Science streams respectively thus, majority being denied of university education. Most of these A/L only qualified students ultimately join the work force without a formal undergraduate education or skills developed.

Sri Lanka currently enjoys a rapid growth in sectors such as aviation, maritime, education, energy and commerce. Foreign direct investment is also currently being encouraged in more specific sectors such as export manufacturing (areas such as electronics, machinery and appliances, construction material, boat industry, motor spare parts) and infrastructure sectors. The Sri Lankan banking and finance sectors have also recorded significant growth. Therefore, anticipates greater employment opportunities for well qualified and skilled personnel in these sectors. Focusing in areas of Finance/Insurance and Electronics and Automation Technologies, the Faculty of Science, University of Colombo has initiated an External Degree Program.