Bill > A03062

This bill establishes the NYS Entrepreneurial Training Grant Program through the Empire State Development Corporation, designed to provide financial support and training for entrepreneurial candidates across New York state. The program will award grants to eligible applicants who submit a gradable business plan, with specific diversity requirements mandating that at least 20% of participants be New York state certified minority and women's business enterprises, and at least 10% be military veterans. The funding will be allocated differently based on city population size: cities with over one million residents will receive five million dollars (with one million for program operations and four million for grants of $410,000 to successful program graduates), while cities with populations between 90,000 and one million will receive five hundred thousand dollars (with one hundred thousand for operations and four hundred thousand for grants of $40,000 to successful graduates). Grants will be awarded competitively according to criteria established by the Empire State Development Corporation, with the goal of supporting and developing entrepreneurial talent across the state. The program is set to be implemented in the state fiscal year following the bill's effective date.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A3062