Created in 2003, the ITP was born from the expansion of Itaipu Binacional's mission, which in addition to reinforcing the issue of quality energy generation, included actions in its strategic planning that fostered sustainable economic, tourism and technological development in Brazil and Paraguay. In a partnership with the Institute of Applied Technology and Innovation (Itai) and the State University of Western Paraná (Unioeste), Itaipu worked out the implementation of an appropriate environment for technological development. In this context, the ITP is a strategic space in the scope of development proposed by Itaipu in the region and is based in the territory of the West of Paraná as one of the environments that promotes innovation.
On May 23, 2003, 37 Brazilian and Paraguayan authorities signed an agreement to create a science, technology and innovation environment with the signing of the Letter of Intent for to create the Technology Park. The ITP was founded in August and activities began in October.
The ITP Foundation, created in 2005, is the institution responsible for the management of the Itaipu Technological Park and for carrying out a set of activities in Education and Extension, Research and Development, Innovation and Business, and Sustainable Tourism. Responsible for promoting scientific, technological and innovation development in the Park's system, it develops and consolidates environments for the shared use of infrastructures and resources of various institutions, made easier by communication, development and negotiation mechanisms among the various parties involved: universities and research centers, businesses, governments and organized civil societies.