S. 4133: 21st Century Entrepreneurship Act

This bill, titled the 21st Century Entrepreneurship Act, aims to enhance entrepreneurship education for disadvantaged youth in the United States through the Small Business Administration (SBA). It recognizes that entrepreneurship plays a vital role in job creation and economic development but notes a decline in entrepreneurship rates over recent decades, particularly among children from disadvantaged communities.

Key Provisions

• Curriculum Development: The Administrator of the SBA is tasked with developing a curriculum specifically designed to teach entrepreneurship and inventorship to underrepresented groups, including female students, minority students, English learners, children with disabilities, and low-income students. This curriculum will be delivered through community learning centers.
• Partnership Encouragement: The bill encourages the formation of partnerships between the SCORE program (Service Corps of Retired Executives) and community learning centers to promote entrepreneurship education.
• Collaboration with Other Programs: The SCORE volunteers are encouraged to work with other entrepreneurial support initiatives, such as small business development centers and women's business centers, to maximize the reach and impact of the entrepreneurship education provided.
• Mentorship and Engagement: The bill highlights the importance of mentoring in encouraging children to pursue careers in entrepreneurship and inventorship. It promotes engagement of experienced volunteers in these educational programs.

Implementation and Reporting

• The Administrator is required to report to Congress on the partnerships established, funds used, and the effectiveness of the implemented programs, providing documentation every two years.
• The report must include the number of students who engaged with the entrepreneurship curriculum and any challenges faced in reaching additional students.

Funding

• The bill authorizes $2.5 million annually from fiscal years 2026 through 2030 to support its initiatives and allows funds to be transferred to the SCORE program for implementation purposes.

Overall Goal

The overarching aim of the 21st Century Entrepreneurship Act is to stimulate economic growth by increasing the rates of entrepreneurship among youth in disadvantaged communities, ultimately enhancing their opportunities and quality of life.

Relevant Companies

• None found