Established in 1965, the Innovation Authority was designed to support R&D conducted in government research institutes and industrial development to increase high-tech exports. The Authority's goal is to provide professional support and infrastructure to government efforts to encourage innovation in all industry sectors. It has three main roles: creating infrastructure to support diverse industries, developing tools and programs that suit the needs of the industry, and budgeting and financing high-risk projects and products. Additionally, the Authority consists of six customer-oriented "Innovation Divisions," each providing a variety of tools for each market segment and stage in the life cycle of a product.