The Executive Board of the National Innovation Fund consists of 11 members, including representatives of key public institutions, academia, the business sector, and civil society.

The composition of the Board includes:

• two representatives of the Ministry of Innovation and Growth;
• five representatives of the business community;
• two representatives of higher education institutions and research organisations;
• one representative of civil society;
• one representative of the Ministry of Education and Science.

The members of the Executive Board are appointed by order of the Minister of Innovation and Growth.

Board members serve a four-year term, with the possibility of one additional consecutive term.