View all text of Subchapter II [§ 9541 - § 9543]
§ 9543. Educational development relating to management and entrepreneurship
(a) DutiesThe Under Secretary shall, whenever the Under Secretary determines such action is necessary or appropriate—
(1) promote the education and training of socially or economically disadvantaged individuals in subjects directly relating to business administration and management;
(2) encourage institutions of higher education, leaders in business and industry, and other public sector entities and private sector entities, particularly minority business enterprises, to—
(A) develop programs to offer scholarships and fellowships, apprenticeships, and internships relating to business to socially or economically disadvantaged individuals; and
(B) sponsor seminars, conferences, and similar activities relating to business for the benefit of socially or economically disadvantaged individuals;
(3) stimulate and accelerate curriculum design and improvement in support of development of minority business enterprises; and
(4) encourage and assist private institutions and organizations and public sector entities to undertake activities similar to the activities described in paragraphs (1), (2), and (3).
(b) Parren J. Mitchell Entrepreneurship Education Grants
(1) Definition
(2) Grants
(3) RequirementsAn eligible institution to which a grant is awarded under this subsection shall use the grant funds to—
(A) develop a curriculum that includes training in various skill sets needed by contemporary successful entrepreneurs, including—
(i) business management and marketing;
(ii) financial management and accounting;
(iii) market analysis;
(iv) competitive analysis;
(v) innovation;
(vi) strategic and succession planning;
(vii) marketing;
(viii) general management;
(ix) technology and technology adoption;
(x) leadership; and
(xi) human resources; and
(B) implement the curriculum developed under subparagraph (A) at the eligible institution.
(4) Implementation timeline
(5) ReportsEach year, the Under Secretary shall submit to all applicable committees of Congress, and as part of the annual budget submission of the President under section 1105(a) of title 31, a report evaluating the awarding and use of grants under this subsection during the fiscal year immediately preceding the fiscal year in which the report is submitted, which shall include, with respect to the fiscal year covered by the report—
(A) a description of each curriculum developed and implemented under each grant awarded under this section;
(B) the date on which each grant awarded under this section was awarded; and
(C) the number of eligible entities that were recipients of grants awarded under this section.
(Pub. L. 117–58, div. K, title II, § 100203, Nov. 15, 2021, 135 Stat. 1457.)