1. Short title This Act may be cited as the DOD Entrepreneurial Innovation Act . 2. Entrepreneurial Innovation Project designations (a) In general (1) Designating certain SBIR and STTR programs as Entrepreneurial Innovation Projects Chapter 303 of title 10, United States Code, is amended by inserting after section 4062 the following new section: 4063. Entrepreneurial Innovation Project designations (a) In general During the first fiscal year beginning after the date of the enactment of this section, and during each subsequent fiscal year, each Secretary concerned, in consultation with the each chief of an armed force under the jurisdiction of the Secretary concerned, shall designate not less than five eligible programs as Entrepreneurial Innovation Projects. (b) Application An eligible program seeking designation as an Entrepreneurial Innovation Project under this section shall submit to the Secretary concerned an application at such time, in such manner, and containing such information as the Secretary concerned determines appropriate. (c) Designation criteria In making designations under subsection (a), the Secretary concerned shall consider— (1) the potential of the eligible program to— (A) advance the national security capabilities of the United States; (B) provide new technologies or processes, or new applications of existing technologies, that will enable new alternatives to existing programs; and (C) provide future cost savings; (2) whether an advisory panel has recommended the eligible program for designation