Minority Entrepreneurship Development Act of 2007 - Amends the Small Business Act to establish within the Small Business Administration (SBA) an Office of Minority Small Business Development to, among other things, formulate, execute, and promote SBA policies and programs that provide assistance to small businesses owned and controlled by minorities.
Authorizes the SBA Administrator to make grants to eligible educational institutions: (1) to assist in establishing an entrepreneurship curriculum for undergraduate or graduate studies; and (2) for the placement of a small business development center on the campus of the institution.
Authorizes the Administrator to make grants to eligible associations and organizations to: (1) assist in establishing the technical capacity to provide online or distance learning for businesses seeking to contract with the federal government; (2) develop curriculum for seminars that will provide businesses with the technical expertise for such contracting; and (3) provide training and technical expertise through distance learning to participant business owners and other interested parties.
Amends the Federal Acquisition Streamlining Act of 1994 to extend through FY2009 the socially and economically disadvantaged business program.