The promotion and financing of innovative processes leading to the creation of new products or services, new production systems and new discoveries in the scientific world; theoretical support for university and industry scientists who are involved in costly and time-consuming experimental work, promoting the transfer of knowledge and technologies through networking of research and development centers; the development and establishment of new companies and promoting the creation of qualified jobs in the Canton of Ticino; ensuring the implementation of cultural, recreational and sports activities suitable for the personal growth of the community; offering premises also intended as a meeting place for study, seminars, conferences, cultural events, entertainment and leisure; awarding scholarships to deserving and needy academic students; promoting university-level teaching, scientific research, dissemination and other tasks of public utility. The foundation is authorized to carry out all operations useful for achieving its purpose, in particular to invest all or part of its assets, to solicit and receive public or private grants, donations and bequests, to conclude any agreement useful for the aforementioned purposes with public or private organizations. The Foundation may establish centers to promote the activities it promotes if justified by the circumstances. The Foundation pursues objectives of public utility and therefore operates without profit.