21st Century Entrepreneurship Act

To require the Administrator of the Small Business Administration to encourage entrepreneurship training in after school programs, and for other purposes. 1. Short title This Act may be cited as the 21st Century Entrepreneurship Act 2. Findings Congress finds that— (1) entrepreneurship creates new jobs, grows the economy, increases productivity, and significantly improves the quality of life of the people of the United States; (2) entrepreneurship rates in the United States have declined substantially over the last several decades; (3) children from disadvantaged communities are less likely to become entrepreneurs and inventors, hampering economic growth and harming communities most in need; (4) studies show that children with mentors in entrepreneurship and inventorship are more likely to pursue these fields in adulthood; and (5) in order to promote growth in disadvantaged communities, increase entrepreneurship rates, and improve the economy, volunteer mentors with the SCORE program should be encouraged to engage with children in community learning centers. 3. Definitions In this Act— (1) the term community learning center 20 U.S.C. 7171(b) (2) the term inventorship (3) the term SCORE program 15 U.S.C. 637(b)(1)(B) 4. Entrepreneurship education for disadvantaged youth (a) In general The Administrator of the Small Business Administration shall— (1) develop a curriculum for volunteers with the SCORE program to teach female students, minority students, English learners, children with disabilities, and low-income students who are often underrepresented in critical and enriching subjects about entrepreneurship and inventorship through community learning centers; (2) develop and implement a strategy to encourage partnerships between the SCORE program and community learning centers to teach the curriculum developed under paragraph (1) to the students described in that paragraph through community learning centers; and (3) in developing the curriculum required under paragraph (1), collaborate with education specialists, entrepreneurship groups, business groups, and groups with experience serving underrepresented children. (b) Collaboration with other programs In carrying out the partnerships under subsection (a)(2), volunteers with the SCORE program are encouraged to collaborate with other entrepreneurial development programs of the Small Business Administration and other agencies, including— (1) small business development centers described in section 21 of the Small Business Act ( 15 U.S.C. 648 (2) women's business centers operating under section 29 of the Small Business Act ( 15 U.S.C. 656 (3) centers overseen by the Minority Business Development Agency of the Department of Commerce; and (4) the Growth Accelerator Fund Competition of the Administration carried out under section 24 of the Stevenson-Wydler Technology Innovation Act of 1980 ( 15 U.S.C. 3719 (c) SCORE program Section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) and to carry out entrepreneurship and inventorship programs under section 4(a) of the 21st Century Entrepreneurship Act (d) Community learning centers Part B of title IV of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7171 (1) in section 4201(a)(2) ( 20 U.S.C. 7171(a)(2) entrepreneurship and inventorship (as defined in section 3 of the 21st Century Entrepreneurship Act apprenticeship programs, (2) in section 4205(a) ( 20 U.S.C. 7175(a) (A) in paragraph (13), by striking and (B) in paragraph (14), by striking the period at the end and inserting ; and (C) by adding at the end the following: (15) entrepreneurship and inventorship programs described in section 4(a) of the 21st Century Entrepreneurship Act . (e) Report Not later than 1 year after the date of enactment of this Act, and every 2 years thereafter, the Administrator of the Small Business Administration shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that— (1) identifies each partnership between the SCORE program and a community learning center during the preceding 2-year period; (2) documents the use of funds by the SCORE program, and adherence by the SCORE program to contract award and procurement procedures, relating to the implementation of this Act; (3) documents any training or guidance provided to SCORE program chapter leadership on properly using funds provided to carry out this Act; (4) estimates the number of students who were reached through the entrepreneurship curriculum developed under subsection (a); (5) identifies any barriers to reaching additional students; and (6) identifies any plans for improving the curriculum or implementing the strategy developed under subsection (a). (f) Authorization of appropriations (1) In general There is authorized to be appropriated to the Administrator of the Small Business Administration $2,500,000 for each of fiscal years 2021 through 2025 to carry out this Act and the amendments made by this Act. (2) Transfer of funds Of amounts made available to the Administrator of the Small Business Administration to carry out this Act and the amendments made by this Act, the Administrator may transfer any portion of those amounts to the SCORE program to carry out such provisions.

Summary: 21st Century Entrepreneurship Act This bill requires the Small Business Administration (SBA) to develop a curriculum for volunteers with the Service Corps of Retired Executives (SCORE) to teach underrepresented students (e.g., minority students, English learners, and children with disabilities) about entrepreneurship. The SBA shall develop and implement a strategy to encourage partnerships between the SCORE program and community learning centers to teach this curriculum and, in developing the curriculum, collaborate with education specialists and groups with experience serving underrepresented children. The SBA must submit a biennial report on partnerships between the SCORE program and community learning centers, the use of funds by the program, the number of students reached through the entrepreneurship curriculum, and plans for improving the curriculum.