Yeah, Florida Institute of Technology does provide scholarships based on merit. Here are some of them:

Panther Distinguished Scholar Award
Total Worth: full tuition plus the facilities and activities fees
Eligibility: full tuition plus the facilities and activities fees
Minimum Criteria: Based on academic performance

Panther Fund Merit Scholarship
Total Worth: 50% of tuition
Eligibility: 50% of tuition
Minimum Criteria: based on an applicant’s academic performance in high school (weighted GPA plus standardized test scores)

Farmer Scholars Programs
Total Worth: full tuition, room and board, and fees.
Eligibility: full tuition, room and board, and fees.
Minimum Criteria: Based on academic performance

Florida Institute of Technology provides aids at an average of 38128 per student meeting 86% of students need. 100% of students with need receive financial aid at an average of 27222 need-based grant. They also provide other scholarships including FIRST Robotics & Vex Robotics Award and Scouting – Eagle Scout And Girl Scout Gold Award.