3.0.0 1969 2023-01-11T13:38:16Z 2023-01-11T13:38:16Z Senate S 2017-10-17 115 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2017-10-17T19:11:46Z SOAR Act 115 4071 HR 2017-10-16 Referred to the House Committee on Small Business. Related bill CRS 2017-10-17 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2017-10-17 Introduced in Senate IntroReferral 10000 9 Library of Congress B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ N Commerce Business education Business investment and capital Correctional facilities and imprisonment Disability and paralysis Government information and archives Indian social and development programs Minority and disadvantaged businesses Small business Veterans' education, employment, rehabilitation Women in business Commerce 00 2017-10-17 Introduced in Senate 2019-06-18T18:03:20Z Startup Opportunity Accelerator Act of 2017 or the SOAR Act

This bill amends the Small Business Act to require the Small Business Administration to develop and begin implementing a program to award cash prizes or grants of up to $50,000 to an organization to support new small businesses operating for five years or less. These awards may be used for construction costs, space acquisition, and programmatic purposes, but may not be used to provide capital or professional services to such businesses directly or through the subaward of funds.

The organization must be located in the United States, with a primary purpose to support new small businesses and be often classified as an accelerator. The term "accelerator" means an organization that (1) frequently provides, but is not exclusively designed to provide, seed investment in exchange for a small amount of equity; (2) works with a startup for a predetermined amount of time; (3) provides mentorship and instruction to scale businesses; or (4) offers startup capital or the opportunity to raise capital from outside investors.

]]> SOAR Act Display Title SOAR Act Short Titles as Introduced SOAR Act Short Titles as Introduced Startup Opportunity Accelerator Act of 2017 Official Title as Introduced A bill to amend the Small Business Act to create a program to provide funding for organizations that support startup businesses in formation and early growth stages by providing entrepreneurs with resources and services to produce viable businesses, and for other purposes. Introduced in Senate 2017-10-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1969is/xml/BILLS-115s1969is.xml 2017-10-17 Read twice and referred to the Committee on Small Business and Entrepreneurship. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.