40 USC 14505 - Entrepreneurship initiative

U.S Code last checked for updates: Nov 22, 2024

§ 14505.

Entrepreneurship initiative

(a)

Business Incubator Service.—

In this section, the term “business incubator service” means a professional or technical service necessary for the initiation and initial sustainment of the operations of a newly established business, including a service such as—

(1)

a legal service, including aid in preparing a corporate charter, partnership agreement, or basic contract;

(2)

a service in support of the protection of intellectual property through a patent, a trademark, or any other means;

(3)

a service in support of the acquisition and use of advanced technology, including the use of Internet services and Web-based services; and

(4)

consultation on strategic planning, marketing, or advertising.

(b)

Projects To Be Assisted.—

The Appalachian Regional Commission may provide technical assistance, make grants, enter into contracts, or otherwise provide amounts to persons or entities in the region for projects—

(1)

to support the advancement of, and provide, entrepreneurial training and education for youths, students, and businesspersons;

(2)

to improve access to debt and equity capital by such means as facilitating the establishment of development venture capital funds;

(3)

to aid communities in identifying, developing, and implementing development strategies for various sectors of the economy;

(4)

to develop a working network of business incubators; and

(5)

to support entities that provide business incubator services.

(c)

Limitation on Available Amounts.—

Of the cost of any activity eligible for a grant under this section, not more than—

(1)

50 percent may be provided from amounts appropriated to carry out this section;

(2)

in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526, 80 percent may be provided from amounts appropriated to carry out this section; or

(3)

in the case of a project to be carried out in a county for which an at-risk county designation is in effect under section 14526, 70 percent may be provided from amounts appropriated to carry out this section.

(d)

Sources of Assistance.—

Assistance under this section may be provided entirely from amounts made available to carry out this section, in combination with amounts made available under other federal programs, or from any other source.

(e)

Federal Share.—

Notwithstanding any provision of law limiting the federal share under any other federal program, amounts made available to carry out this section may be used to increase that federal share, as the Commission decides is appropriate.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1271; Pub. L. 110–371, § 2(e), Oct. 8, 2008, 122 Stat. 4039.)

cite as: 40 USC 14505