Then they can compete on an equal basis for admission. One problem with such preference programs is the possibility of fraud - a firm can have minorities or women as a front, while the real ownership is held by others. But aside from that, the basic problem is that this treats effects rather than causes. Here again, there can be a program open to any firm upgrading the skills of the owners and managers, and helping them obtain credit. Then there can be a strictly objective selection process, and may the best firms win, regardless of the personal characteristics of the owner.
Subsidies create shortages, which then require non-price rationing.
Free or cheap college education leads to too many applicants for the positions. Let people pay and get the market price, and there will be less pressure to have non-price selection criteria. With no unemployment, employers don't dare discriminate, since they are desperate for workers. With no poverty, workers won't put up with any discrimination. And maximum prosperity will only come when we eliminate all regulatory and tax barriers to employment and enterprise.