This fund, which is affiliated to the Higher Council for Science and Technology, was established in 1994 with the objective of increasing the competitiveness of Jordanian industries through the utilization of science and technology.

The main functions of Industrial Scientific Research and Development Fund:

1. Supporting Jordanian industries to invest in science and technology to achieve a remarkable development in terms of production processes and industrial management, product quality and development, as well as to improve the competitiveness of Jordanian industries.
2. Encourage Jordanian industries to support research and development and to benefit from the thereof.
3. Finding suitable opportunities for universities, scientific research centers and consulting firms to link their research activities to the needs of industry.
4. Identifying the problems that face different industries and guiding them on how to solve these problems.
5. Bridging the gap between research institutions, scientific research centers and industry and linking them together.
6. Getting Jordanian industries aware of the importance of research and development to improve productivity and thus improve competitiveness.