In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Accelerate Our Startups Act of
2014''.

SEC. 2. GRANTS FOR ORGANIZATIONS THAT SUPPORT STARTUP BUSINESSES.

Add at the end of the Small Business Act (15 U.S.C. 631 et seq.)
the following:

''SEC. 48. GRANTS FOR NONPROFIT ORGANIZATIONS THAT SUPPORT STARTUP
BUSINESSES.

''(a) Grants.--The Administrator shall develop and implement,
beginning not later than one year after the date of the enactment of
this section, a grant program under this section for State and local
governmental and other nonprofit organizations that are located in the
United States and support startup businesses in the United States to
provide those organizations assistance to use for construction costs,
space acquisition, and programmatic purposes.
''(b) Requirement for Recipients.--A recipient of a grant under
this section must demonstrate to the satisfaction of the Administrator
that it will use the grant to provide assistance to at least 5 client
businesses per year that have been in business for less than 5 years.
''(c) Criteria for Grants.--The Administrator shall establish
criteria for grants under this section favoring recipients that provide
startups the following:
''(1) Office, manufacturing, or warehouse space, including
appropriate operations infrastructure.
''(2) Access to capital (either directly from the
organization or though guidance and contacts for acquiring
capital from outside investors), except that such capital may
not be made available from the grant funds (including by making
subgrants).
''(3) Access to professional services (either directly from
the organization or guidance and contacts for acquiring those
services) including accounting and legal services, except that
litigation expenses may not be made available from the grant
funds.
''(4) A formal structured mentorship or developmental
program that assists startups with building business skills and
competencies.
''(d) Considerations To Be Applied in Choosing Recipients.--In
determining whether or not to make a grant under this section to an
organization, the Administrator shall take into account the following:
''(1) If the organization is an existing organization, the
previous record of that organization, as measured by--
''(A) the number of participating client businesses
each of the previous 3 years, if applicable;
''(B) the number of businesses applying each of the
previous 3 years, if applicable;
''(C) the retention rate of client businesses;
''(D) the average duration of client business
participation in program; total, average, and median
capital raised by participation client businesses;
''(E) the total, average, and median number of
employees of participating client businesses; and
''(F) other metrics deemed appropriate by the
Administrator.
''(2) Promoting growth in underserviced geographic areas
with sufficient population density.
''(3) How experienced the entrepreneurial leadership of the
organization is.
''(4) The ability of the organization to utilize and
leverage local strengths, including human resources,
infrastructure, or educational institutions.
''(e) Requirement of Fee Paid by Participating Startups.--Each
recipient of a grant under this section shall require each
participating client business in the program assisted under this
section to pay, at minimum, a entry fee for participation in the
program.
''(f) Matching Public Funding Requirement.--The Small Business
Administration shall require as condition of grant under this section,
that the recipient obtain a grant from a local or State government for
the same purposes as a grant may be made under this section, to carry
out the program of the recipient assisted under this section. The
amount of that grant from a local or State government may not be less
than /2\ the amount received by that recipient under this section.
''(g) Matching Nonpublic Funding Requirement.--The Small Business
Administration shall require as condition of grant under this section,
that the recipient obtain nonpublic (defined as private or nonprofit)
funding for the same purposes as a grant may be made under this
section, to carry out the program of the recipient assisted under this
section. The amount of that funding from a nonpublic source may not be
less than /2\ the amount received by that recipient under this
section.
''(h) Consequences of Failure To Abide by Terms and Conditions of
Grant or Requirements of This Section.--Each recipient shall be
notified that failure to abide by the terms and conditions of the grant
or the requirements of this section may, in the discretion of the
Administrator and in addition to any other civil or criminal
consequences, result in recapture by the Administration of the grant
funds.
''(i) Annual Progress Reporting by Recipients of Grants.--Each
recipient of a grant under this section shall annually report to the
Administrator on the progress of the program assisted under this
section, including--
''(1) the number of participating client businesses each of
the previous 3 years, if applicable;
''(2) the number of businesses applying each of the
previous 3 years, if applicable;
''(3) the retention rate of client businesses;
''(4) the average duration of client business participation
in program;
''(5) the total, average, and median capital raised by
participation client businesses;
''(6) the total, average, and median number of employees of
participating client businesses; and
''(7) other metrics deemed appropriate by the
Administrator.
''(j) Report to Congress.--The Administrator shall report annually
to Congress the Administrator's assessment of the effectiveness of the
grant program under this section including the metrics listed in
subsection (i).
''(k) Coordination With Other Small Business Administration
Programs.--The Administrator shall take appropriate action to encourage
grantees under this section to utilize and incorporate Small Business
Administration programs, such as Small Business Development Centers;
Small Business Investment Companies, section 7(a) loans, and section
504 loans.
''(l) Listing on Website.--The Administrator shall include a list
of recipients of the grants under this section on the Small Business
Administration website.
''(m) Definition.--In this section, the term 'State' includes the
District of Columbia, the Commonwealth of Puerto Rico, and any other
territory or possession of the United States.
''(n) Authorization of Appropriation.--There are authorized to be
appropriated to carry out this section $5,000,000 for each fiscal year
beginning with the first fiscal year that begins after the date of the
enactment of this Act and each of the succeeding 4 fiscal years.''.
A:
Accelerate Our Startups Act of 2014 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to develop and implement a grant program for state and local governmental and other nonprofit organizations located in the United States that support startup businesses by providing assistance for construction costs, space acquisition, and programmatic purposes. Requires a grant recipient to: (1) demonstrate that it will use the grant to provide assistance to at least five client businesses per year that have been in business for less than five years, (2) require client businesses to pay an entry fee to participate in the program, and (3) submit annual progress reports. Directs the Administrator: (1) to establish grant criteria favoring recipients that provide startups with office, manufacturing, or warehouse space, access to capital and professional services, and a formal structured mentorship or developmental program that assists with building business skills and competencies; and (2) in determining whether to make a grant, to take into account promoting growth in underserviced areas with sufficient population density and the organization's entrepreneurial leadership experience, ability to utilize and leverage local strengths, and record with regard to client business participation. Directs the SBA to condition receipt of a grant under this Act on the recipient obtaining matching funding for the same purposes from a local or state government grant and nonpublic funding.