§3720 Office of Innovation and Entrepreneurship

Summary

The Secretary must create an Office of Innovation and Entrepreneurship to help turn new technologies, products, processes, and services into usable and sellable things. The office’s aim is to raise productivity and help the U.S. economy grow. The office must make policies to speed up innovation and move research, including federally funded research, into the marketplace; find and try to remove barriers like lack of capital or other resources, especially in States that take part in the Experimental Program to Stimulate Competitive Research; give access to data, research, and technical help; and coordinate innovation policies inside the Department of Commerce and with other federal and state agencies, with attention to small businesses and rural areas. The Secretary must also set up an Advisory Council to advise on these duties and can assign other tasks as needed.