The NASA Institute for Advanced Concepts (NIAC) was formed in 1998 to provide an independent source of advanced aeronautical and space concepts that could dramatically impact how NASA develops and conducts its missions. Until the program’s termination in August 2007, NIAC provided an independent open forum, a high-level point of entry to NASA for an external community of innovators, and an external capability for analysis and definition of advanced aeronautics and space concepts to complement the advanced concept activities conducted within NASA. Throughout its 9-year existence, NIAC inspired an atmosphere for innovation that stretched the imagination and encouraged creativity. As requested by Congress, this volume reviews the effectiveness of NIAC and makes recommendations concerning the importance of such a program to NASA and to the nation as a whole, including the proper role of NASA and the federal government in fostering scientific innovation and creativity and in developing advanced concepts for future systems. Key findings and recommendations include that in order to achieve its mission, NASA must have, and is currently lacking, a mechanism to investigate visionary, far-reaching advanced concepts. Therefore, a NIAC-like entity should be reestablished to fill this gap.