Innovation and Technology Fund was established in 1999 with an injection of $5 billion to provide financial support projects that help industries develop innovative ideas and upgrade their technological level. There are 16 programmes under the ITF to cater for different needs

Innovation and Technology Commission

Under the Innovation and Technology Fund (ITF), the Technical and Vocational Training Programme (TVP) has been made a regular programme. This is to help the government help local organisations adopt technology. The goal of the TVP is to help local businesses use technological services and solutions to improve their productivity, upgrade or change their business processes, and become more competitive in the long run.