15 U.S.C. § 3720 — Office of Innovation and Entrepreneurship

(a) The Secretary must establish an Office of Innovation and Entrepreneurship to encourage innovation and the commercialization of new technologies, products, processes, and services, with the goal of promoting productivity and economic growth in the United States.

(b) The Office is responsible for: (1) developing policies to speed innovation and the commercialization of research and development, including federally funded research and development; (2) identifying existing barriers to innovation and commercialization, including access to money and other resources, and ways to overcome them, especially in States participating in the Experimental Program to Stimulate Competitive Research; (3) providing access to relevant data, research, and technical help about innovation and commercialization; (4) strengthening cooperation and coordination on innovation and commercialization policies within the Department of Commerce, between Commerce and other federal agencies, and, when appropriate, between Commerce and suitable State agencies and institutions, including policies focused on small businesses and rural communities; and (5) performing any other duties the Secretary decides. This section does not define the quoted terms “commercialization,” “relevant,” or “rural communities.”

(c) The Secretary must establish an Advisory Council on Innovation and Entrepreneurship to advise the Secretary about carrying out subsection (b).