,,ii #aadth ,,congress #ast ,session ,s4 #bbgc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #aj1 #bjae ,mr4 ,booker introduced the following bill2 which was read twice and referred to the ,committee on ,small ,business and ,entrepreneurship ,a ,,bill ,to require the ,administrator of the ,small ,business ,administration to establish an incubator and accelerator grant program for veterans and members of the ,armed ,forces4 #a4 ,short title ,this ,act may be cited as the ,strengthening ,technical ,assistance1 ,resources1 and ,training to ,unleash the ,potential of ,veterans ,act of #bjae or the ,,startup ,vets ,act of #bjae4 #b4 ,findings ,congress finds that-- 7#a7 startups face common challenges as they seek to transform their ideas into successful1 high-growth businesses2 7#b7 incubators and accelerators are new models of growth that drive innovation by connecting entrepreneurial individuals and teams to create viable business ventures and social initiatives2 7#c7 incubators and accelerators support promising start-ups through partnerships1 mentoring1 and resources connecting them with seasoned entrepreneurs2 7#d7 the goal of an incubator or an accelerator is to help create and grow young businesses by providing them with necessary financial1 technical1 and industry support and financial and technical services2 and 7#e7 veterans and members of the ,armed ,forces can amplify the skills they have acquired through their service in the military through entrepreneurship4 #c4 ,incubator and accelerator grant program ,section #cb of the ,small ,business ,act 7#ae ,u4,s4,c4 #feg;b7 is amended by striking subsection 7f7 and inserting the following3 7f7 ,incubator and accelerator grant program 7#a7 ,definitions ,in this subsection-- 7,a7 the term accelerator means an organization that-- 7i7 frequently provides1 but is not exclusively designed to provide1 seed investment in exchange for a small amount of equity2 7ii7 works with a startup for predetermined amount of time2 or 7iii7 offers startups capital and mentorship to scale businesses2 7,b7 the term covered individual means-- 7i7 a member of the ,armed ,forces1 without regard to whether the member is participating in the ,transition ,assistance ,program of the ,department of ,defense2 7ii7 an individual who is participating in the ,transition ,assistance ,program of the ,department of ,defense2 7iii7 an individual who-- 7,i7 served on active duty in any branch of the ,armed ,forces1 including the ,national ,guard and ,reserves2 and 7,,ii7 was discharged or released from such service under conditions other than dishonorable2 and 7iv7 a spouse or dependent of an individual described in clause 7i71 7ii71 or 7iii72 7,c7 the term eligible grantee means an incubator or accelerator that-- 7i7 has a physical space1 and not necessarily exclusive use of physical space1 in which veterans may come together to work on business ideas2 and 7ii7 has been operational for not less than #a year before receiving a grant under the program2 7,d7 the term incubator means an organization that is designed to accelerate the growth and success of businesses through a variety of business support resources and services1 including physical space1 capital1 coaching1 common services1 and networking connections2 and 7,e7 the term program means the grant program established under paragraph 7#b77;,a74 7#b7 ,establishment 7,a7 ,in general ,not later than #ahj days after the date of enactment of this subsection1 the ,administrator shall establish a grant program under which the ,administrator shall make grants to eligible grantees to create and operate incubators and accelerators that provide technical assistance and training to covered individuals on how to become successful entrepreneurs and form small business concerns4 7,b7 ,goals ,the goals of the program are-- 7i7 to enable covered individuals to effectively transfer relevant skills to launch and accelerate small business concerns owned and controlled by covered individuals2 and 7ii7 to create an avenue for high-performing covered individuals to meet and collaborate on business ideas4 7,c7 ,designation as a technical assistance program ,the program shall be considered a management and technical assistance training program of the ,administration4 7#c7 ,application 7,a7 ,in general ,an eligible grantee desiring to receive a grant under the program shall submit an application to the ,administrator at such time1 in such manner1 and containing such information as the ,administrator may require4 7,b7 ,evaluation ,before making an award to an eligible grantee under the program1 the ,administrator or a designee of the ,administrator shall conduct a site visit or evaluate a video submission of the eligible grantee4 7,c7 ,preference ,in awarding grants under the program1 the ,administrator shall give a preference to an eligible grantee that operates a veterans-focused incubator or accelerator within the eligible grantee as of the date on which the eligible grantee submits an application under subparagraph 7,a74 7#d7 ,use of funds ,each eligible grantee that is awarded a grant under the program shall operate and1 if necessary1 create1 within the eligible grantee-- 7,a7 an incubator or accelerator focused on assisting covered individuals2 or 7,b7 an incubator or accelerator that assists all types of entrepreneurs1 which shall provide targeted activities1 curriculum1 events1 and mentorship tailored to covered individuals4 7#e7 ,duties ,each eligible grantee awarded a grant under the program shall-- 7,a7 establish and use a competitive process1 if such a process has not been established1 for selecting covered individuals to participate in the incubator or accelerator1 as applicable2 7,b7 create a forum for high-performing covered individuals to meet and collaborate2 7,c7 designate a full-time executive director or program manager1 if such a director or manager has not been designated1 to manage the incubator or accelerator1 as applicable2 7,d7 provide training and education1 including curriculum on entrepreneurship1 to meet the needs of covered individuals to enable them to translate skills from their military service to entrepreneurship2 7,e7 provide mentoring to covered individuals who are entrepreneurs1 which shall consist of experienced and successful entrepreneurs providing advice and guidance to covered individuals who have had similar experiences2 and 7,f7 connect covered individuals with investors who are looking to support covered individuals as entrepreneurs4 7#f7 ,availability to ,veterans ,affairs ,in consultation with the ,secretary of ,veterans ,affairs1 the ,associate ,administrator shall make available outreach materials regarding the program for distribution and display at local facilities of the ,department of ,veterans ,affairs4 7#g7 ,duration of grant ,a grant awarded under the program-- 7,a7 shall be for a period of not more than #b years2 and 7,b7 may be renewed for additional #b-year periods in accordance with paragraph 7#h74 7#h7 ,renewal of grant ,in renewing a grant under the program1 the ,administrator-- 7,a7 shall consider the results of the most recent annual evaluation of the eligible grantee under paragraph 7#i72 and 7,b7 may withhold a grant if the ,administrator determines that the eligible grantee failed to provide the ,administrator with information necessary to complete an annual evaluation of the eligible grantee under paragraph 7#i74 7#i7 ,annual evaluations ,not later than #a year after the ,administrator awards a grant to an eligible grantee under the program1 and every year thereafter in which the eligible grantee is awarded a grant under the program1 the ,administrator shall conduct an evaluation of and issue a report on the eligible grantee1 which shall include-- 7,a7 the total number of covered individuals served by the eligible grantee2 and 7,b7 the total number of startups assisted by the eligible grantee4 7#aj7 ,annual report 7,a7 ,in general ,not later than #a year after the date on which the ,administrator establishes the program1 and every year thereafter1 the ,associate ,administrator shall submit to the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,small ,business of the ,house of ,representatives a report on the performance and effectiveness of the program1 which shall include-- 7i7 the total number of covered individuals served by each eligible grantee awarded a grant under the program2 7ii7 to the extent possible-- 7,i7 the demographics of covered individuals assisted under the program1 to include gender1 age1 race1 relationship to military1 ,military ,occupational ,code1 and years of service of covered individuals2 7,,ii7 the number of startups launched or expanded with assistance provided under the program2 and 7,,iii7 the number of jobs created with assistance provided under the program2 7iii7 results of participant satisfaction surveys1 including a summary of any comments from covered individuals assisted under the program2 and 7iv7 an evaluation of the effectiveness of the program in each region of the ,administration during the most recent fiscal year4 7#aa7 ,funding ,for each of fiscal years #bjaf through #bjbj1 the ,administration shall use not more than #a1jjj1jjj from amounts made available to the ,office of ,veterans ,business ,development to carry out the program4 4