Innovation Fund

An Innovation Fund is a dedicated pool of money set aside by organizations, governments, or institutions to support the development of new ideas, technologies, or projects. Its goal is to promote creative solutions that can improve processes, products, or services. By funding experimentation and research, an Innovation Fund helps turn innovative concepts into practical applications, fostering progress and competitiveness. It often involves selecting promising proposals through a structured process and providing financial support to help bring groundbreaking ideas to fruition.