Sec. 100103. Uplift Accelerator Program; Business Development Academy
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In addition to amounts otherwise available, there is appropriated to the Small Business Administration for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $1,000,000,000 to remain available until September 30, 2031, to carry out subparagraph
(K)of section 7(j)(10) of the Small Business Act ( 15 U.S.C. 636(j)(10) ), as added by this subsection; and Of amounts made available under subparagraph (A), not more than 15 percent may be used by the Administrator for administrative expenses and costs related to monitoring and oversight. Section 7(j)(10) of the Small Business Act ( 15 U.S.C. 636(j)(10) ) is amended by adding at the end the following: In this subparagraph: The term accelerator means an organization— that provides mentorship and other support to growing, startup, and newly established small business concerns; and offers startup capital or the opportunity to raise capital from outside investors to growing, startup, and newly established small business concerns. The term eligible entity means— a historically black college or university; an institution of higher education, as defined in section 101 of the Higher Education Act of 1965, which primarily educates students who are Black or African American, Hispanic or Latino, American Indian, Alaska Native, Asian, Native Hawaiian, or other Pacific Islander; or a junior or community college, as defined in section 312 of the Higher Education Act of 1965. The term eligible small business concern means a small business concern— located in a HUBZone, as defined in section 31(b); owned and controlled by a resident of a low-income community, as defined in section 45D(e) of the Internal Revenue Code of 1986; owned and controlled by a resident of a low-income rural community; owned and controlled by a member of an Indian or Alaska Native tribe, band, nation, pueblo, village, community, component band, or component reservation, individually identified (including parenthetically) in the most recent list published pursuant to section 104 of the Federally Recognized Indian Tribe List Act of 1994; owned and controlled by a Native Entity; owned and controlled by an individual with a disability, as defined in section 3 of the Americans with Disabilities Act of 1990; or otherwise identified by the Administrator. The term historically black college or university means a part B institution , as defined under section 322 of the Higher Education Act of 1965. The term incubator means an organization— that provides mentorship and other support to growing, startup, and established small business concerns; and that may provide a co-working environment or a month-to-month lease program. The term Native Entity means— an Indian tribe, including an Alaska Native village or Regional or Village Corporation, as defined in section 4 of the Indian Self-Determination and Education Assistance Act; and a Native Hawaiian organization, as that term is defined in section 6207 of the Elementary and Secondary Education Act of 1965. The Administrator is authorized to establish a competitive grant program to make grants to eligible entities to establish accelerators or incubators to support eligible small business concerns in developing— business readiness, including by providing services such as accounting, organization, human resources, and legal assistance; growth readiness, including assistance to build past performance and relationships with prime contractors; readiness to submit bids for prime contracts, including assistance in developing skills, conducting market research, and drafting capability statements and proposals; or global readiness, including assistance in establishing long-term, additional revenue streams outside of the United States. The Administrator shall identify acquisition authorities under which eligible small business concerns assisted under this subparagraph may enter into contracts or agreements with Federal agencies. During the period beginning on the date of the enactment of this subparagraph and ending not later than 10 years after such date, the Administrator shall award not more than an aggregate total of $1,000,000,000 in grants to eligible entities under this subparagraph. . In addition to amounts otherwise available, there is appropriated to the Small Business Administration for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $725,000,000 to remain available until September 30, 2031, to carry out subparagraph
(L)of section 7(j)(10) of the Small Business Act ( 15 U.S.C. 636(j)(10) ), as added by this subsection. Of amounts made available under subparagraph (A), not more than 15 percent may be used by the Administrator for administrative expenses and costs related to monitoring and oversight. Section 7(j)(10) of the Small Business Act ( 15 U.S.C. 636(j)(10) ), as amended by subsection (a), is further amended by adding at the end the following: In this paragraph, the term eligible entity has the meaning given in subparagraph (K)(i). The Administrator is authorized to establish a competitive grant program to make grants to eligible entities to support Program Participants. An eligible entity that receives a grant under this subparagraph shall use such grant to— develop and establish a foundational 12-month executive mentoring and training program for small business concerns described in clause (ii); recruit and enroll participants in the program described in subclause (I), including by providing incentives for participation; develop certification programs for eligible entities based on proven best practices of the Administration; and conduct research into the effectiveness of the program described in clause (iv)(I). During the period beginning on the date of the enactment of this subparagraph and ending not later than 10 years after such date, the Administrator shall award not more than an aggregate total of $725,000,000 in grants to eligible entities under this subparagraph. .
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Sec. 100103
Uplift Accelerator Program; Business Development Academy
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