SENATE DOCKET, NO. 304        FILED ON: 1/12/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 228

The Commonwealth of Massachusetts

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PRESENTED BY:

Adam Gomez

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act to provide startup capital for minority entrepreneurs.

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PETITION OF:

SENATE DOCKET, NO. 304        FILED ON: 1/12/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 228

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 268 OF 2021-2022.]

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Third General Court
(2023-2024)

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An Act to provide startup capital for minority entrepreneurs.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Chapter 40G, as so appearing in the 2020 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