The National Olympic Committee of Sri Lanka (NOCSL) has launched the Next Olympic Hope initiative to support emerging athletes.
The initiative was launched at Olympic House in Colombo in collaboration with Crysbro, a long-term partner of the NOCSL and Sri Lanka's premier poultry producer.
It aims to pave the way for an Olympic medal-winning athlete from Sri Lanka by supporting young talent.
Supporters are encouraged to donate through the Next Olympic Hope online portal.
Donations can also be made to rural schools and sports associations rather than individual athletes.
The fund distribution process is set to be carefully governed by the NOCSL.
The Next Olympic Hope initiative will also see twenty athletes sponsored by the NOCSL-Crysbro Next Champ scholarship programme.
These athletes must have the potential to compete at this year's South Asian Games in Hanoi, the Hangzhou 2022 Asian Games or the Birmingham 2022 Commonwealth Games.
The scholarship programme is intended to ease nutritional, transportation, coaching, accommodation, logistics and medical expenses.
Sri Lanka has appeared at 17 editions of the Olympic Games but has only earned two medals.
Duncan White took silver in the men's 400 metres hurdles at London 1948, with Susanthika Jayasinghe also clinching silver in the women's 200m at Sydney 2000.