§9543 Educational Development Relating to Management and Entrepreneurship

Summary

The Under Secretary must promote business education and training for people who are socially or economically disadvantaged. The Under Secretary must encourage colleges, business leaders, and public and private groups, especially minority business enterprises, to create scholarships, fellowships, apprenticeships, internships, and to run seminars and conferences. The Under Secretary must also push for better college programs that help minority businesses and help others start similar efforts. Parren J. Mitchell Entrepreneurship Education Grants fund certain higher education institutions (eligible institutions are the types listed in another federal law) to build and run entrepreneurship courses. Grant money must be used to make a curriculum that teaches skills like business management and marketing; financial management and accounting; market and competitive analysis; innovation; strategic and succession planning; technology and its adoption; leadership; and human resources, and to run that curriculum at the school. The Under Secretary must set and publish a deadline for doing this. Each year the Under Secretary must report to Congress and include in the President’s budget a review of the past year’s grants, saying what each curriculum was, when each grant was awarded, and how many eligible schools got grants.