H.R. 8404 — 21st Century Entrepreneurship Act

This section states congressional findings that (1) entrepreneurship creates jobs, grows the economy, increases productivity, and improves quality of life; (2) U.S. entrepreneurship rates have been unstable; (3) children from disadvantaged communities are less likely to become entrepreneurs or inventors; (4) children with mentors in entrepreneurship and inventorship are more likely to pursue these fields; and (5) SCORE program (i.e., Service Corps of Retired Executives) volunteers should be encouraged to mentor children in community learning centers.

This section defines two terms for purposes of the Act: (1) community learning center, which has the meaning given the term in section 4201(b) of the Elementary and Secondary Education Act of 1965 (i.e., a provider of academic enrichment and support services during nonschool hours, primarily for children in high-poverty or low-performing schools); and (2) SCORE program, meaning the Service Corps of Retired Executives described in section 8(b)(1)(B) of the Small Business Act (i.e., a Small Business Administration-sponsored volunteer network providing free business mentoring to small business owners).

This section directs the Small Business Administration (SBA) Administrator, in consultation with the SCORE program (i.e., volunteer mentors providing free counseling to small businesses), to develop a curriculum for SCORE volunteers to teach entrepreneurship to students served by 21st Century Community Learning Centers (i.e., after-school programs under the Elementary and Secondary Education Act serving disadvantaged youth in high-poverty areas) and, in further consultation with the Secretary of Education, to develop and implement a strategy for delivering the curriculum through those centers. It encourages SCORE volunteers to collaborate with other SBA entrepreneurial programs (e.g., small business development centers, women's business centers) and Minority Business Development Agency centers in teaching the curriculum. The section amends (1) section 8(b)(1)(B) of the Small Business Act to authorize SCORE to teach entrepreneurship through community learning centers; and (2) part B of title IV of the Elementary and Secondary Education Act by adding SCORE-taught entrepreneurship education as an allowable activity under section 4201(a)(2) and an authorized use of funds under section 4205(a)(15). This section further requires the SBA Administrator to submit reports to the Senate Committee on Small Business and Entrepreneurship and the House Committee on Small Business, not later than one year after enactment and biennially thereafter, detailing curriculum usage, fund expenditures, student reach, barriers, and improvement plans.