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Small Business Administration
The Administration's budget request eliminates the New Markets Venture Capital Program, the New Markets and the Venture Capital Technical Assistance Grants. The programs are designed to increase access to equity capital and technical assistance to women, minorities and to businesses located in low- and moderate-income rural areas and inner cities. The SBA budget also eliminates BusinessLINC, a New Markets initiative linking large and small businesses in mentoring and direct technical assistance relationships.
Other potentially technology-relevant highlights include:
- Continuation funding of $3.5 million and $1.5 million respectively for the Federal and State Technology Partnership (FAST) and the Rural Outreach Programs, both of which support state efforts to encourage small business technology development and commercialization
- $88 million for Small Business Development Centers, while also requiring the SBDCs charge fees for services
- The Small Business Investment Company (SBIC) program is to become self-financing through increased fees (reduction in cost to federal government of $141 million over FY 2001)