Recognizing the opportunities for growth based on innovation, the state of Hawaii is actively seeking to diversify its economy by drawing on the University of Hawaii system and other research and educational organizations as engines of sustainable, innovation-led growth. To this end, the University of Hawaii (UH) under the leadership of its new President, Dr. M.R.C. Greenwood, convened an Innovation Council made up of nationally recognized experts to develop recommendations to grow the state's knowledge-based economy. In launching the Council's report, the University of Hawaii partnered with the National Academies Board on Science, Technology, and Economic Policy to convene a major conference in January 2011. This conference drew together the state's political, academic, and business leadership, along with federal officials and national experts to highlight key challenges and opportunities facing Hawaii and to identify key steps toward meetings the Innovation Council's objectives.