Bill > HB286

This bill creates a small business innovation startup capital subfund within Georgia's existing Seed-Capital Fund, specifically designed to support small businesses primarily owned by students or graduates of Technical College System of Georgia (TCSG) small business programs. The bill defines a "small business" as a state-registered business that is at least 51% owned by program entrepreneurs, not dominant in its field, less than ten years old, and engaged in innovative work in technology, manufacturing, or agriculture. To receive startup capital from the subfund, businesses must submit a comprehensive application to the center and TCSG, including a detailed business plan, financial projections, and evidence of potential economic impact. The center and TCSG will evaluate applications based on criteria such as the likelihood of the business's success, the potential for creating new value-added products or services, and the entrepreneurs' commitment to the business. The subfund can be composed of gifts, grants, private donations, and government funds, and will be managed to provide direct support for starting and operating these innovative small businesses, with the ultimate goal of encouraging economic growth and diversification in Georgia.

Education

https://www.legis.ga.gov/legislation/69953