US Government to Create Office of Innovation and Entrepreneurship

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

U.S. Commerce Secretary Gary Locke announced the two innovation-focused initiatives last week. 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 to keep a continued dialogue between the government and the entrepreneurial community. It is expected that Council members will include entrepreneurs, innovators, investors, and non-profit leaders.

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