15 U.S.C. § 9543

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 9543 - Educational development relating to management and entrepreneurship

(a) Duties

The Under Secretary shall, whenever the Under Secretary determines such action is necessary or appropriate-

(1) promote the education and training of socially or economically disadvantaged individuals in subjects directly relating to business administration and management;

(2) encourage institutions of higher education, leaders in business and industry, and other public sector entities and private sector entities, particularly minority business enterprises, to-

(A) develop programs to offer scholarships and fellowships, apprenticeships, and internships relating to business to socially or economically disadvantaged individuals; and

(B) sponsor seminars, conferences, and similar activities relating to business for the benefit of socially or economically disadvantaged individuals;

(3) stimulate and accelerate curriculum design and improvement in support of development of minority business enterprises; and

(4) encourage and assist private institutions and organizations and public sector entities to undertake activities similar to the activities described in paragraphs (1), (2), and (3).

(b) Parren J. Mitchell Entrepreneurship Education Grants

(1) Definition

In this subsection, the term "eligible institution" means an institution of higher education described in any of paragraphs (1) through (7) of section 1067q(a) of title 20.

(2) Grants

The Under Secretary shall award grants to eligible institutions to develop and implement entrepreneurship curricula.

(3) Requirements

An eligible institution to which a grant is awarded under this subsection shall use the grant funds to-

(A) develop a curriculum that includes training in various skill sets needed by contemporary successful entrepreneurs, including-

(i) business management and marketing;

(ii) financial management and accounting;

(iii) market analysis;

(iv) competitive analysis;

(v) innovation;

(vi) strategic and succession planning;

(vii) marketing;

(viii) general management;

(ix) technology and technology adoption;

(x) leadership; and

(xi) human resources; and

(B) implement the curriculum developed under subparagraph (A) at the eligible institution.

(4) Implementation timeline

The Under Secretary shall establish and publish a timeline under which an eligible institution to which a grant is awarded under this section shall carry out the requirements under paragraph (3).

(5) Reports

Each year, the Under Secretary shall submit to all applicable committees of Congress, and as part of the annual budget submission of the President under section 1105(a) of title 31, a report evaluating the awarding and use of grants under this subsection during the fiscal year immediately preceding the fiscal year in which the report is submitted, which shall include, with respect to the fiscal year covered by the report-

(A) a description of each curriculum developed and implemented under each grant awarded under this section;

(B) the date on which each grant awarded under this section was awarded; and

(C) the number of eligible entities that were recipients of grants awarded under this section.

15 U.S.C. § 9543

Pub. L. 117-58, div. K, title II, §1002030203,, 135 Stat. 1457.

Under Secretary

The term "Under Secretary" means the Under Secretary of Commerce for Minority Business Development, who is appointed as described in section ______3(b)1 to administer this chapter.1So in original. See References in Text note below.

Administration

the terms "Administration" and "Administrator" mean the Small Business Administration and the Administrator thereof, respectively; and