Advances in stellarator physics and engineering in the years since the large stellarators LHD and W7-X were designed have the potential to make quantum improvements in the design of stellarators. The current aim of the U.S. stellarator program is to continue to advance the science and technology of stellarators through theory and experimental research on domestic experiments and, in a major collaboration with Max Planck Institute for Plasma Physics, on Wendelstein 7-X. The envisioned next step is a new initiative to develop improved stellarator concepts, taking advantage of recent progress in stellarator physics and engineering, on a scope and time scale to impact the direction of fusion development in the ITER era and decisions on next steps beyond ITER. The initiative would begin with a theory and concept optimization activity focused on developing and evaluating new designs that can become the basis for new experimental facilities. New experiments, which would be essential for convincing assessment of the potential of new concepts would be built and would begin to come on-line in the 2020s.