The U.S. Commerce Department has announced the creation of a new Innovation Advisory Board to guide a study of U.S. economic competitiveness and innovation and has opened the application process to business leaders, economic and innovation policy experts, and state and local government officials active in technology-based economic development. The new study will help inform Obama administration policies that will position the U.S. to win the future by out-innovating, out-educating and out-building our economic competitors.

The Innovation Advisory Board, in coordination with the National Economic Council and other federal agencies, is charged, by the America COMPETES Reauthorization Act of 2010, to advise the Secretary of Commerce on the innovative capacity and economic competitiveness of the United States for a study to be completed by January 4, 2012.

The study will analyze the U.S. economy and innovation infrastructure in comparison with its global competition – covering all facets of the economy, including trade and exports, education, research and development, technology commercialization, intellectual property and tax policy.

The 15-member board will be appointed by the Secretary of Commerce and represent all major industry sectors as well as both large and small businesses. Members will provide input on the development of the study and work to solicit feedback from across the country, serving until the completion of the report.