Due to global challenges such as the COVID-19 pandemic, supply chain disruptions, and geopolitical tensions, the United States is once again adopting explicit industrial strategies.  This follows a long period where free-market policies were primarily favored instead. With the passage of the CHIPS and Science Act and the Inflation Reduction Act (IRA), the National Science Foundation (NSF), the Commerce Department, and other federal agencies are receiving billions of dollars to support the nation’s competitiveness in critical industry sectors and seeking academic expertise to help them spend it wisely. Columbia University’s Initiative for Policy Dialogue (IPD) was launched in 2000 by Nobel Prize winner Joseph Stiglitz. It is a global network of economists, political scientists, and research centers whose mission is to produce high-quality research and translate it into practical guidance for policymakers.  The IPD now has specific plans to establish a high-profile program for novel research on industrial strategy. One prominent IPD expert is Co-PI Eric Verhoogen, who is evaluating the impacts of different types of industrial strategy – to incentivize product innovation; to increase exports; to improve the allocation of government grants for startups; and to encourage the adoption of energy efficient technologies – through ongoing large-scale experiments . Another is Co-PI Martin Guzman, the former Minister of Economy in Argentina, who serves as IPD Co-President alongside Stiglitz.  Together, Stiglitz, Verhoogen, and Guzman will run an academic program to answer foundational questions about why, when, and how to use industrial strategy. Other major grant activities include two international conferences as well as training new experts in this previously neglected field.