[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9486 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 9486
To establish a grant program within the Small Business Administration
to provide funds for eligible accelerators or eligible incubators that
provide services to small business concerns owned and controlled by
women and rural small business concerns, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 6, 2024
Ms. Stansbury introduced the following bill; which was referred to the
Committee on Small Business
_______________________________________________________________________
A BILL
To establish a grant program within the Small Business Administration
to provide funds for eligible accelerators or eligible incubators that
provide services to small business concerns owned and controlled by
women and rural small business concerns, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Innovation and Empowerment for
Startups Act''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) There is a growing emphasis to bolster small business
concerns owned and controlled by women (as defined in section 3
of the Small Business Act (15 U.S.C. 632)) and rural small
business concerns (as defined in this Act).
(2) There are significant disparities that lead to unequal
outcomes for rural small business concerns and small business
concerns owned and controlled by women.
(3) Small business concerns owned and controlled by women
are less likely than small business concerns owned and
controlled by men to obtain funding, even though women and men
are equally likely to achieve business success.
(4) Rural entrepreneurs are more likely than non-rural
entrepreneurs to experience higher costs of doing business, and
rural entrepreneurs struggle with more expenses related to
running a business.
(5) Small business concerns owned and controlled by women
and rural small business concerns gain entrepreneurial
knowledge, network building, and entrepreneurial self-efficacy
during their participation in accelerators and incubators.
SEC. 3. GRANT PROGRAM FOR ELIGIBLE ACCELERATORS OR ELIGIBLE INCUBATORS
THAT PROVIDE SERVICES TO CERTAIN SMALL BUSINESS CONCERNS.
(a) Establishment.--The Administrator of the Small Business
Administration, acting though the head of the Office of Entrepreneurial
Development of the Administration, shall establish a grant program to
provide funds to eligible entities that provide services to small
business concerns owned and controlled by women and rural small
business concerns.
(b) Eligibility.--To be eligible for a grant under this section, an
eligible entity shall submit to the Administrator an application
containing the following:
(1) The effect the eligible entity has had on the success
of small business concerns owned and controlled by women and
rural small business concerns.
(2) The diversity and inclusivity efforts of the eligible
entity with respect to the staff of a small business concern
assisted by such eligible entity.
(3) The plans of the eligible entity to help ensure the
sustainability of a small business concern assisted by such
eligible entity.
(c) Use of Funds.--A recipient of a grant under this section shall
use amounts of such grant for the following:
(1) To provide consulting, training, shared facilities and
resources, or assistance with access to capital to small
business concerns owned and controlled by women and rural small
business concerns.
(2) To provide workshops, seminars, networking events, and
individual consultations to such concerns.
(3) To provide educational opportunities to such concerns
on topics such as marketing strategy, public relations, website
marketing and social media, business planning, financial
planning and analysis, and other opportunities, as determined
by such recipient.
(4) To advertise the services offered by such recipient.
(d) Amount.--An award made under this section shall be for exactly
$250,000.
(e) Reports.--
(1) To administrator.--Not later than 1 year after receipt
of an award under this section, a grant recipient shall submit
to the Administrator a report that includes the following:
(A) Use of grant amounts.
(B) The effect of programs or services provided
using grant amounts on small business concerns owned
and controlled by women or rural small business
concerns.
(2) To congress.--Not later than 1 year after the date of
the enactment of this section and every 5 years thereafter
until 5 years after the date on which the last grant is made
under this section, the Secretary shall submit to the Committee
on Small Business of the House of Representatives and the
Committee on Small Business and Entrepreneurship of the Senate
a report that includes a summary of the activities and outcomes
associated with grants made under this section.
(f) Monitoring and Evaluation.--The Administrator shall implement
procedures to monitor the effectiveness of the program established
under this section to determine whether to extend the program.
(g) Authorization of Appropriations.--There is authorized to be
appropriated to the Administrator of the Small Business Administration
$1,250,000,000, to remain available until expended for purposes of
carrying out this section, of which 10 percent is authorized to be
allocated for grants to covered businesses.
(h) Definitions.--In this section:
(1) Covered business.--The term ``covered business'' means
a small business concern that is assigned a North American
Industry Classification System code as follows:
(A) Beginning with 11 (relating to agriculture).
(B) Beginning with 7111 (relating to creative
industries).
(C) Beginning with 7211 (relating to hospitality).
(D) Beginning with 7223, 7224, or 7225 (relating to
food services).
(E) 541611 (relating to management).
(F) 711510 (relating to artisans and craft makers).
(G) 541211 or 541219 (relating to accounting).
(H) 624410 (relating to childcare).
(2) Eligible accelerator.--The term ``eligible
accelerator'' means an entity that conducts business in the
United States and that has a demonstrated track record of
successfully--
(A) assisting entrepreneurs in starting up or
expanding small business concerns owned and controlled
by women and rural small business concerns;
(B) providing mentorship to such entrepreneurs;
(C) facilitating access to capital for such
entrepreneurs; and
(D) fostering connections, as relevant, among such
entrepreneurs.
(3) Eligible entity.--The term ``eligible entity'' means an
eligible accelerator or an eligible incubator.
(4) Eligible incubator.--The term ``eligible incubator''
means an entity that offers shared resources and services for
startup businesses, which may include office space,
consultants, mentors, technical support, and access to capital.
(5) Rural small business concern.--The term ``rural small
business concern'' means a small business concern located in a
rural area (as defined in section 1393(a)(2) of the Internal
Revenue Code of 1986).
(6) Small business concern owned and controlled by women.--
The term ``small business concern owned and controlled by
women'' has the meaning given in section 3(n) of the Small
Business Act (15 U.S.C. 632(n)).
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