Support for New Businesses: Growth Accelerator Program
This act establishes a new program to support organizations that help young businesses in their early stages of development. The goal is to increase job creation and innovation, especially in regions and among groups that have had limited access to funding. This means citizens can expect more employment opportunities and local economic growth.
Key points
The program offers grants of at least $1,000,000 to organizations supporting new businesses (growth accelerators).
Priority will be given to accelerators assisting businesses owned by women, minorities, veterans, and individuals with disabilities.
Funds can be used for construction costs, space acquisition, and programmatic purposes, but not for direct funding of businesses.
The act aims to promote diversity in entrepreneurship and support business development outside major investment hubs.
Status:
Expired
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