To amend the Small Business Act to establish a growth accelerator fund competition, and for other purposes.
Latest action · Aug 6, 2021 Referred to the House Committee on Small Business.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 6, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill requires the Small Business Administration to develop and implement a program to award cash grants of at least $1,000,000 to organizations that support new small businesses. These awards may be used for construction costs, space acquisition, and programmatic purposes, but they may not be used to provide capital or professional services to small businesses directly or through the subaward of funds.
The organization must have the support of new small businesses as a primary purpose and be often classified as an accelerator. The term accelerator means an organization that (1) supports new businesses with a focus on technology, research, and development; (2) frequently provides, but is not exclusively designed to provide, seed investment in exchange for a small amount of equity; (3) works with a startup for a predetermined amount of time; (4) provides mentorship and instruction to scale businesses; or (5) offers startup capital or the opportunity to raise capital from outside investors.
Cosponsors 1
Members who signed on, in the order they did. All signed on Aug 6, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-PA | Brian K. Fitzpatrick | Original | Aug 6, 2021 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred Aug 6, 2021 |
Actions 2
Everything that happened, newest first.
- Aug 6, 2021Introduced in House
- Aug 6, 2021Referred to the House Committee on Small Business.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 141, August 6, 2021, page H4320.
CRS reports 3
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 3
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF12310 | The Small Business Administration’s Growth Accelerator Fund Competition | Resource | Feb 27, 2026 |
| R43083 | SBA Assistance to Small Business Startups: Client Experiences and Program Impact Archived | Report | Jul 11, 2022 |
| R41352 | Small Business Management and Technical Assistance Training Programs | Report | Jun 9, 2022 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2631 | SOAR Act | Related bill | Sep 22, 2021 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Act to establish a growth accelerator fund competition, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Business education
- Business investment and capital
- Commerce
- Correctional facilities and imprisonment
- Disability and paralysis
- Government information and archives
- Indian social and development programs
- Minority and disadvantaged businesses
- Small business
- Veterans' education, employment, rehabilitation
- Women in business
Text 1
Each version as it was printed, newest first.
- Aug 6, 2021Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
