SECTION 1. Chapter 40G, as so appearing in the 2018 general laws, is amended by adding at the end thereof the following new section:-
Section 12. The Massachusetts Technology Development Corporation established in section 2 of chapter 40G of the General Laws, and doing business as MassVentures, shall establish a competitive grant program to invest in minority-owned or minority-led start-up companies in Massachusetts. The program will provide technical and financial support to said start-up companies and educate and enable said start-up companies to acquire access to additional capital.
SECTION 2. 7002-1501 For a competitive grant program administered by Massachusetts Technology Development Corporation established in section 2 of chapter 40G of the General Laws, and doing business as MassVentures, pursuant to section 12 of chapter 40G........................................... $10,000,000
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