The US National Institute of Standards and Technology (NIST) is a federal agency that promotes innovation and industrial competitiveness by advancing measurement science, standards, and technology. NIST makes money through government funding and partnerships with private sector organizations. Established in 1901, NIST has played a crucial role in developing standards that ensure the reliability and accuracy of technology and measurements across various industries. The agency is also known for its work in cybersecurity, quantum information science, and advanced manufacturing.