The fund through the board of trustee is expected to:
- Mobilize resources for the Kenya National Innovation Agency from the Government, the private sector, venture capital, development partners and other sources;
- Prudently manage and invest the funds so mobilized
- Support the development of human resources through grants to persons or research institutions or universities pursuing postgraduate programs in prioritized areas of science, technology and innovation with priority being given to marginalised indigent communities;
- Support the development of research capacities in the national priority areas of science, technology and innovation
- Allocate funds for research and promote multi-disciplinary collaboration among Universities and research institutions,
- Evaluate the needs, status and results of research financed through the Fund
- Provide financial support for the development of research facilities by universities , research institutions and other bodies identified by the Commission.
- Provide financial support for participation in international scientific activities through maintaining membership to appropriate international science organizations;
- Provide financial support for collaboration, co-operation and sharing of research information and knowledge., including supporting conferences, workshops, seminars, meetings and other symposia;
- Promote the provision of an information infrastructure linking research institutions to facilitate co-operation and sharing of research information and knowledge
- Initiate liaison with bodies involved in the protection of intellectual property rights;
- Compile and maintain a national database of research and innovation funded by the Fund
- Perform the monitoring and evaluation of the results and impact of the research activities financed out of the Fund.