The OECD Reviews of Innovation Policy offer a comprehensive assessment of the innovation system of individual OECD member and non-member countries, focusing on the role of government.  A growing political awareness of the importance of innovation for the Chile’s future has recently translated into two bold decisions: the creation of an Innovation Council for Competitiveness entrusted with the mission of proposing guidelines for a long-term national innovation strategy; and the introduction of a specific mining tax to increase resources available to implement this strategy. This report assesses the current status of Chile’s innovation system and policies, and identifies where improvements are most needed in order to make the most efficient use of this additional public investment.