Minority Entrepreneurship Grant Program Act of 2025
Impact
Should this bill be enacted, it will provide substantial funding, with an authorization of $50 million appropriated to carry out its objectives. The support from the SBA aims to improve access to resources necessary for students to develop their entrepreneurial skills and effectively launch their businesses. The program is expected to foster a culture of entrepreneurship among minority students, thereby contributing to economic diversity and inclusivity within the business landscape in the United States.
Summary
House Bill 3793, known as the 'Minority Entrepreneurship Grant Program Act of 2025,' aims to establish a grant program through the Small Business Administration (SBA). This program is targeted at enhancing business ownership and entrepreneurship among students enrolled at minority-serving institutions and historically Black colleges and universities (HBCUs). The bill intends to facilitate a supportive environment for minority students aspiring to own and operate businesses by creating or expanding relevant programs in these educational institutions.
Contention
One notable aspect of contention surrounding HB3793 relates to the efficacy and management of the proposed grant funds. Advocates argue that directing funds specifically to minority-serving institutions and HBCUs is a necessary step to rectify historical inequalities in access to business resources. However, critics may express concerns about the long-term outcome of such targeted funding and whether it adequately addresses the broader systemic barriers that minority entrepreneurs face, including access to capital and mentorship beyond educational institutions.
To amend the Small Business Act to reauthorize and modify the Small Business Innovation Research and Small Business Technology Transfer Research programs, and for other purposes.
To amend the Elementary and Secondary Education Act of 1965 to provide grants to local educational agencies to encourage girls and underrepresented minorities to pursue studies and careers in STEM fields.
Making Advances Kinetic Education, Research, and Skills Act or the MAKERS ActThis bill requires the National Science Foundation (NSF) to award competitive grants to institutions of higher education to support research and development related to makerspaces. Under the bill, makerspaces are defined as community spaces that provide learners and entrepreneurs with tools, technology, and knowledge, and support educational opportunities for personal growth, workforce training, and early-stage business ventures.Grant funds may be used to support research on the effectiveness of makerspaces in engaging students and communities in science, technology, engineering, and math (STEM), among other functions.In awarding grants, the NSF must prioritize certain applicants, including (1) community colleges and minority-serving institutions; and (2) institutions that apply in partnership with workforce development entities, high-need local educational agencies, or independent nonprofit or academic makerspaces.