On the recordOctober 21, 2019
I thank Chairwoman Velazquez and also Ranking Member Chabot for their leadership. I would also like to thank my colleague, Congressman Balderson, for working with me on this bipartisan legislation. One of the most widely successful tools the Small Business Administration utilizes to grow and support small businesses is the Growth Accelerator Fund Competition. Since this program began in 2014, the Growth Accelerator Fund Competition has small businesses and entrepreneurs in almost 40 States. This competitive program provides some of the most innovative and promising small businesses in high-growth sectors with early-stage education, financing, mentorship, cohort-based training, and technical assistance. Importantly, these entrepreneurial development models create a pipeline of talented entrepreneurs--especially women and minorities--to grow and succeed. According to the Small Business Administration, since this Growth Accelerator Fund Competition began in 2014, the first 50 awardees have led directly to almost 1,500 companies across the country. Codifying this program and authorizing $2 million for 4 additional years is a commitment to American innovation. The legislation reflects our bipartisan support and priority investment in the growth, development, and expansion of small businesses. I am proud to support this program, and I am glad to work with colleagues on both sides of the aisle on this meaningful and important legislation. Mr.…
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