S.3214 - TEAM Act

A bill to strengthen entrepreneurial education, and for other purposes. view all titles (3)

All Bill Titles

  • Official: A bill to strengthen entrepreneurial education, and for other purposes. as introduced.
  • Short: TEAM Act as introduced.
  • Short: Today's Entrepreneurs are America's Mentors Act as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
05/22/12
 
 
 
 
 
 
 

Official Summary

Today's Entrepreneurs are America's Mentors Act or TEAM Act - Amends the Small Business Act to establish in the Small Business Administration (SBA) an Office of Entrepreneurial Education, headed by a Director, to develop and provide innovative entrepreneurial information, educatio

Official Summary

Today's Entrepreneurs are America's Mentors Act or TEAM Act - Amends the Small Business Act to establish in the Small Business Administration (SBA) an Office of Entrepreneurial Education, headed by a Director, to develop and provide innovative entrepreneurial information, education, and resources to promote prospective entrepreneurs and successful small businesses. Directs the SBA's Associate Administrator for Entrepreneurial Development to establish a program of grants to nonprofit organizations to provide technical assistance to primary and secondary schools for the development and implementation of curricula and mentoring programs designed to promote entrepreneurship. Requires the Director to submit to the congressional small business committees best practices of U.S. entrepreneurial education and training programs. Authorizes the SBA Administrator to award up to 100 scholarships per year to students pursuing a Masters of Business Administration degree. Requires each student, in return for such scholarship, to provide, on a full-time basis for one to two weeks, free technical assistance, counseling, and related assistance to small businesses and entrepreneurs. Directs the Administrator to establish a program to host regional competitions and a national conference to address regional challenges through entrepreneurial research and business planning. Requires the Administrator to recommend to Congress legislation for establishing programs to forgive or defer student loan payments in order to assist youth entrepreneurship by making capital available for business formation.

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