Section 1 Short title
This Act may be cited as the “Start-up America’s Students Act” .
Start-up America’s Students Act
A BILL
To amend the Small Business Act to provide grants for university business incubators.
Sec. 2 University business incubator grant program
The Small Business Act (15 U.S.C. 631 et seq.) is amended—
by redesignating section 47 as section 48; and
by inserting after section 46 the following:
“47. University Business Incubators
“(a) Grants—The Administrator, in consultation with the Secretary of Education, shall award grants, on a competitive basis, to eligible institutions for the purpose of establishing, maintaining, expanding, and improving business incubators operated by or affiliated with such eligible institutions.
“(b) Applications—An eligible institution desiring a grant under this section shall prepare and submit to the Administrator an application, at such time, in such manner, and containing such information as the Administrator, in consultation with the Secretary of Education, may require.
“(c) Definitions—In this section:
“(1) Business incubator—The term business incubator means a facility that is primarily used to provide space where start-up businesses—
“(A) share space, support staff or services, physical resources, or overhead expenses; and
“(B) receive technical assistance, financial advice, or business planning services.
“(2) Eligible institution—The term eligible institution means an institution of higher education (as defined in section 102 of the Higher Education Act of 1965 (20 U.S.C. 1002)) with a program participation agreement under section 487 of such Act (20 U.S.C. 1094).
“(3) Start-up business—The term start-up business means a small business concern that—
“(A) has 10 or fewer employees; and
“(B) has been in operation for less than four years.”