On June 16, 2006, the U.S. Secretary of Commerce established the Measuring Innovation in the 21st Century Economy Advisory Committee (also referred to as the Advisory Committee on Measuring Innovation in the 21st Century) (the "Committee") to advise the Secretary on new or improved measures of innovation, to help explain how innovation occurs in different sectors of the economy, how it is diffuses, and how it impacts economic growth and productivity.
The Committee consists of fifteen members from business and academia appointed by the Secretary of Commerce. The Committee functions solely as an advisory body, in compliance with the provisions of the Federal Advisory Committee Act. The Charter was filed under the Federal Advisory Committee Act.
It released its final report in January 2008. The Advisory Committee was terminated in September 2008.