Directs the economic development commission, in conjunction with the workforce training and education coordinating board, to: (1) Establish and maintain an inventory of the entrepreneurial and innovation education, training, and technical assistance services and programs available in the state;

(2) Evaluate the extent to which existing entrepreneurial and innovation training and technical assistance programs in the state are effective and represent a consistent, integrated approach to meeting the needs of start-up and existing entrepreneurs;

(3) Identify policies to reduce administrative and other barriers to efficient delivery and coordination of entrepreneurial assistance;

(4) Distribute awards for excellence in entrepreneurial training and assistance;

(5) Distribute awards for excellence in innovation training; and

(6) Report to the governor, the workforce training and education coordinating board, and appropriate legislative committees its recommendations for statutory changes necessary to enhance operational efficiencies or enhance coordination related to entrepreneurial and innovation education, training, and assistance.