§3720 Office of Innovation and Entrepreneurship

Summary

The Secretary must create an Office of Innovation and Entrepreneurship. The Office’s job is to help turn new technologies, products, processes, and services into real businesses and jobs to boost U.S. productivity and economic growth. The Office must make policies to speed innovation and commercialization (including federally funded research); find and fix barriers like limited access to capital and other resources, especially in States in the Experimental Program to Stimulate Competitive Research (EPSCoR); provide data, research, and technical help; improve coordination inside the Department of Commerce, with other Federal agencies, and with State agencies, with attention to small businesses and rural areas; and carry out other tasks the Secretary assigns. The Secretary must also set up an Advisory Council on Innovation and Entrepreneurship to give advice.