The Innovation and Technology Fund (ITF) is a financial initiative established by the government to support research and development in various sectors. Its primary goal is to enhance the competitiveness of industries by promoting innovative projects and technological advancements. The fund provides grants and financial assistance to businesses, research institutions, and individuals working on innovative ideas. Through the ITF, recipients can access resources for projects that align with the government's vision for economic growth and technological progress. This includes funding for initiatives in areas such as artificial intelligence, biotechnology, and renewable energy, fostering a culture of innovation across the economy.