This paper introduces the Center for Climate and Energy Solutions’ (C2ES) Innovation Policy Matrix, a user-friendly, nonpartisan, and technology-neutral tool designed to help policymakers assess and craft effective innovation policy. The framework synthesizes four interrelated components that, when applied together, enable policymakers to efficiently develop a comprehensive understanding of the policy needs for any given technology and the broader innovation ecosystem. The tool creates a standardized snapshot of where any given technology sits along the innovation process, the barriers hindering the broader ecosystem, and the key risks to prioritize when developing policy solutions. Risk is an intrinsic part of innovation, so the public and private sectors should play complementary roles as risk takers and risk managers. In particular, the federal government can play an important role as a risk-tolerant supporter of innovation, especially when technological feasibility and market applications are still unclear. This matrix was informed by the insights generated from over two years of the C2ES technology working groups program, which includes more than 140 companies across the innovation ecosystem.