,i #aafth ,,congress #ast ,session ,h4 ,r4 #dchg ,,in ,,the ,,house ,,of ,,representatives ,september #ah1 #bjai,mr4 ,espaillat 7for himself and ,mr4 ,balderson7 introduced the following bill2 which was referred to the ,committee on ,small ,business ,a ,,bill ,to establish ,growth ,accelerator ,fund ,competition within the ,small ,business ,administration1 and for other purposes4 #a4 ,growth ,accelerator ,fund ,competition 7a7 ,in general ,there is established a program within the ,small ,business ,administration to be known as the ,growth ,accelerator ,fund ,competition under which the ,administrator of the ,small ,business ,administration shall award prizes on a competitive basis to covered entities that-- 7#a7 assist small business concerns with accessing capital and finding mentors and networking opportunities2 and 7#b7 advise small business concerns1 including advising on market analysis1 company strategy1 revenue growth1 and securing funding4 7b7 ,requirements ,except as otherwise provided in this section1 the ,administrator shall carry out the program established under this section in accordance with the requirements of section #bd of the ,stevenson-,wydler ,technology ,innovation ,act of #aihj 7#ae ,u4,s4,c4 #cgai74 7c7 ,application ,a prize only may be awarded to a covered entity that submits to the ,administrator an application at such time1 in such manner1 and containing such information as the ,administrator may require4 7d7 ,eligibility ,to be eligible to apply for a prize under this section1 a covered entity-- 7#a7 may not have an outstanding1 unresolved financial obligation to the ,federal ,government2 and 7#b7 may not be currently suspended or debarred as specified under subpart #i4d of title #dh1 ,code of ,federal ,regulations 7or any successor regulation74 7e7 ,selection of covered entities ,from applications submitted under subsection 7c71 the ,administrator shall select covered entities that will provide to small business concerns-- 7#a7 regular networking opportunities1 including introductions to customers1 partners1 suppliers1 advisory boards1 and other persons2 7#b7 mentorship opportunities1 including advice on strategy1 technology1 finances1 and commercialization assistance2 7#c7 shared working environments focused on building a strong community amongst other similar small business concerns2 7#d7 resources and co-working arrangements2 7#e7 opportunities to pitch ideas to investors and other capital formation opportunities2 7#f7 small amounts of angel money1 seed capital1 or structured loans2 and 7#g7 where appropriate1 assistance in securing funding under the ,,sbir program or the ,,sttr program established under section #i of the ,small ,business ,act 7#ae ,u4,s4,c4 #fch74 7f7 ,priority 7#a7 ,in general ,the ,administrator1 in approving applications under this section1 shall give priority to applications that include methods to provide assistance and advice to small business concerns located in underserved communities1 including-- 7,a7 small business concerns owned and controlled by women2 7,b7 small business concerns owned and controlled by veterans2 and 7,c7 small business concerns owned and controlled by socially and economically disadvantaged individuals 7as defined in section #h7;d77#c77;,c7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcg7;d77#c77;,c7774 7#b7 ,allocation ,of prizes awarded to covered entities under this section in a fiscal year1 the ,administrator shall ensure that-- 7,a7 not less than #bj percent of such covered entities will assist and advise small business concerns owned and controlled by women2 and 7,b7 not less than #bj percent of such covered entities will assist and advise small business concerns owned and controlled by socially and economically disadvantaged individuals4 7g7 ,selection of small business concerns ,a covered entity that receives a prize under the ,growth ,accelerator ,fund ,competition shall use a selective process to identify small business concerns to provide assistance and advice described under subsection 7a74 7h7 ,development of metrics ,the ,administrator shall develop metrics to evaluate the effectiveness and the benefit to the people of the ,united ,states of the ,growth ,accelerator ,fund ,competition that-- 7#a7 are science-based and statistically driven2 7#b7 reflect the mission of the ,small ,business ,administration2 and 7#c7 include factors relating to the economic impact of the ,growth ,accelerator ,fund ,competition4 7i7 ,definitions ,in this section3 7#a7 ,administrator ,the term ,administrator means the ,administrator of the ,small ,business ,administration4 7#b7 ,covered entity ,the term covered entity means a private entity that is incorporated in and maintains a primary place of business in the ,united ,states4 7#c7 ,small ,business ,act definitions ,the terms small business concern1 small business concern owned and controlled by women1 small business concern owned and controlled by veterans have the meanings given such terms1 respectively1 in section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb74 7j7 ,authorization of appropriations ,there are authorized to be appropriated to the ,administrator #b1jjj1jjj for each of fiscal years #bjbj1 #bjba1 #bjbb1 and #bjbc to carry out the ,growth ,accelerator ,fund ,competition4