Innovation funding refers to financial support provided to individuals, startups, or organizations to develop new ideas, products, or services. This funding can come from various sources, including government grants, venture capital, and private investors. The goal is to encourage creativity and technological advancement, helping to bring innovative concepts to market. Many countries have specific programs aimed at fostering innovation, such as the Small Business Innovation Research (SBIR) program in the United States. These initiatives often focus on sectors like technology, healthcare, and renewable energy, aiming to stimulate economic growth and improve competitiveness in the global market.