It was an externally autonomized agency of the Flemish Government, in charge of innovation policy in Flanders and located in the Ellipse-Building in Brussels.
The agency ca e under the jurisdiction of the Flemish Minister for Employment, Economy, Innovation and Sport Philippe Muyters.
The agency's tasks were specified in a management agreement with the Flemish government, resulted in a yearly business plan, and were committed to:[1] Financial support: The Agency for Innovation by Science and Technology distributed about 300 million euros annually in subsidies.
The agency consulted Flemish companies and R&D-centers in their innovation projects and funds applications.
The Flemish Innovation Network, for example, founded by the agency, brought together the knowledge and expertise of dozens of intermediary organizations.