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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 25, 2017.
This bill amends the Small Business Act to codify provisions establishing the Growth Accelerator Fund Competition program, under which the Small Business Administration (SBA) shall award prizes competitively to covered entities (private entities that are incorporated in and maintain a primary place of business in the United States) that:
assist small business concerns in accessing capital, mentors, and networking opportunities; and advise small business concerns, including on market analysis, company strategy, revenue growth, and securing funding. The SBA must develop metrics to evaluate the the program's effectiveness and benefits to the people of the United States that: (1) are science-based and statistically driven, (2) reflect the SBA mission, and (3) include factors relating to the program's economic impact.