Policies for innovation also require a strong and efficient system for knowledge creation and diffusion that engages in the systematic pursuit of fundamental knowledge, and that diffuses this knowledge throughout society through a range of mechanisms. This chapter reviews policies on: the science system, including the promotion of research excellence and the role of open science in increasing the economic and social returns to public investments in scientific research, as well as the role of international co-operation in science and technology; emerging practices in commercialising publicly funded research trends; policy issues relating to the interconnected themes of ICT, “big data” and the open Internet; the evolving relationship between IPRs and innovation; and the development and functioning of knowledge networks and markets.