DOD Entrepreneurial Innovation Act This bill requires each military department to annually designate at least five eligible programs as Entrepreneurial Innovation Projects. Eligible programs are certain projects currently pursuing commercialization objectives that initially received funding for research and development through the Small Business Innovation Research Program or Small Business Technology Transfer Program. Once designated, programs must be included in future budgets and plans of the Department of Defense. Each military department must establish an advisory panel to identify and recommend eligible programs for designation.