Industry Canada has selected the e-Content Institute to determine the feasibility of creating an index to track Canada's "knowledge economy." Under the terms of the agreement, the e-Content Institute will define the parameters of the Knowledge Index as well as the vocabulary related to it: terms such as "knowledge economy," "intellectual assets," and "digital content." It will undertake a global review in an effort to determine what elements of the index already exist, what gaps in research and modeling need to be filled, how big a job that is, and what it would cost. The Knowledge Economy Index is intended to promote greater cooperation from all levels of government, the private sector, and academia in an effort to improve Canadian innovation. In its "Innovation Strategy," announced earlier this year, the federal government identified four challenges to meeting the goal of improved Canadian innovation, including the need to, "encourage more Canadian firms to reap more benefits from creating knowledge and bringing ideas to market." The E-Content Institute, a learning and networking community for the econtent industry, was awarded the feasibility study assignment after submitting a proposal to the federal government under its Innovation Strategy.