Regardless of global jurisdiction, governments must ensure the safety and nutritional quality of foods consumed by their citizens. Recently, there has been a tremendous increase in research and development (R&D) activities on foods and ingredients that promote health and well-being as well as consumer awareness and education. This session focuses on how innovative R&D of functional foods and nutraceuticals can be supported by policies and regulations. These products involve novel bioactive compounds and new nutrient delivery platforms requiring regulatory approval. From the research and industry perspectives, a common complaint has been that the criteria and timelines for regulatory approval are ill-defined and the required time is prohibitively lengthy such that the novelty and competitive edge have been lost. As a result, R&D investment by agriculture and food industrial sectors cannot be justified, and tangible commitments to innovation in foods for health cannot be made. Speakers will examine the nexus of policy, regulations, and innovation in three areas: risk assessment as it applies to food, harmonizing policy, and regulations across different countries; case studies of how functional ingredients and foods were identified and the necessary steps for achieving regulatory approval; and academic challenges in an industrial environment in moving an idea from concept to commercialization while meeting regulatory and policy approval.