Bill > HR3793

This bill establishes a new grant program through the Small Business Administration (SBA) designed to support minority entrepreneurship at minority-serving institutions (MSIs) and historically Black colleges and universities (HBCUs). The program will provide grants of at least $250,000 to these institutions to create or expand programs that help student entrepreneurs, particularly those from minority backgrounds, develop and support their business ventures. Grant recipients must offer resources like free legal, accounting, marketing, and technical assistance, as well as help with accessing capital. Institutions receiving grants will be required to submit detailed annual reports tracking the number of student entrepreneurs trained, businesses created, and other program metrics. Additionally, the bill mandates the creation of a Minority Entrepreneurship Advisory Board, composed of experts in small business and startup development, to provide recommendations on improving support for minority businesses. The bill broadly defines "minority" to include Black, Hispanic, Native American, Asian, Pacific Islander, and other socially disadvantaged groups, and authorizes $50 million in appropriations to fund the grant program. The goal is to increase minority business ownership by providing targeted support and resources to emerging entrepreneurs at educational institutions.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3793/all-info