The Open University of Sri Lanka signed a Memorandum of Understanding (MoU) with Telimac (Pvt) Ltd. on 27th of February 2023 at the Senate House. In the MoU, both entities agreed to establish relations in the area of research and development, and commercialization. Patents, software copyright, industrial designs or any other intellectual property produced jointly by NeoSpace LAB, OUSL and Telimac (Pvt) Ltd. will be shared between both parties. 

Under this MOU, Two Technology Transfer Agreements were signed between the OUSL and Telimac (Pvt) Ltd. The first Technology Transfer Agreement was signed for ImFirst GameShow Buzzer System and the second Technology Transfer Agreement was signed for Automated Sticker Labelling Machine developed in the NeoSpace Lab.