This report of the U.S.-Japan Innovation and Entrepreneurship Council which was formed in 2011 by the Department of State of the United States of America and the Ministry of Economy, Trade and Industry of Japan under the umbrella of the U.S.-Japan Dialogue on Innovation, Entrepreneurship, and Job Creation. I acted as a member and then became the US Private Sector Co-Chair. The purpose of the Council was to help cultivate a bilateral ecosystem of innovation and entrepreneurship. The Council's primary objectives were to develop recommendations concerning policy options and prevailing practice in the field of innovation and entrepreneurial activities, including those involved in U.S.-Japan cooperation.