The National Science Foundation functions under the purview of the Ministry of Education. The organization was initially established as the National Science Council (NSC) in 1968 (Act No. 09 of 1968). NSC was restructured as the Natural Resources, Energy and Science Authority (NARESA) in 1982 (Act No. 78 of 1981). After 16 years of service, NARESA was reorganized as the National Science Foundation (NSF) in 1998 by Act No. 11 of 1994.

Keeping with its mandate and aligning with the National Policies and the Sustainable Development Goals (SDGs), the NSF Staff committed to continuously deliver productive output and progresses forward with the encouragement from and guidance of the Chairman, Director General and the Board of Management.

As a competent and capable Institute, having a Team leading the way exploring and adopting new technological tools, techniques, and practices, NSF is dedicated to promote Science, Technology and Innovation for the economic and social prosperity of Sri Lanka. The NSF Team operates across many areas, with a focus on providing thought leadership and direction, by establishing and promoting best practices on research and development to provide appropriate recommendations and supporting science education in specific focus areas considered critical. For the success of the overall organization, the NSF is supported through a popular management philosophy “knowledge-creating” company, of which the sole business is continuous innovation.