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US Government to Create Office of Innovation and Entrepreneurship

US Department of Commerce will also form National Advisory Council on Innovation and Entrepreneurship

Last week, U.S. Commerce Secretary Gary Locke announced the two innovation-focused initiatives to the public. According to the Department of Commerce release, “The new Office of Innovation and Entrepreneurship, which will answer directly to the secretary, will be geared toward the first step in the business cycle: moving an idea from someone’s imagination, or from a research lab, into a business plan.”

The National Advisory Council will provide guidance and recommendations to the Commerce Department on policies related to fostering small businesses and continued dialogue between the government and the entrepreneurial community. It is the plan for Council members to include entrepreneurs, innovators, investors, and non-profit leaders.

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