; (B) has not more than 5 employees; and (C) for the most recently completed fiscal year of the entity (if any) and any preceding fiscal year, has annual gross revenues of less than $150,000. (4) State The term State means each of the several States, the District of Columbia, each commonwealth, territory, or possession of the United States, and each federally recognized Indian tribe. (h) Authorization of appropriations There is authorized to be appropriated to the Secretary to carry out this section $5,000,000, of which not more than 5 percent shall be available for the costs of administering the grant program established under this section, for each of the fiscal years 2018 through 2022. 5003. Funding for organizations that support startup businesses (a) Findings Congress finds that— (1) startups face common challenges as they seek to transform their ideas into successful, high-growth businesses; (2) incubators and accelerators are new models of growth that drive innovation by connecting entrepreneurial individuals and teams to create viable business ventures and social initiatives; (3) startups have contributed greatly to the United States economy, with research showing that between 1982 and 2011, businesses 5 years or younger were responsible for nearly every net new job created; (4) incubators and accelerators support promising startups through partnerships, mentoring, and resources connecting them with seasoned entrepreneurs; (5) the goal of an incubator or an accelerator is to help create and grow young businesses by providing them with necessary financial, technical, and industry support and financial and technical services; and (6) startups offer unique opportunities for growth and development for women, minority, and veterans to become successful entrepreneurs and leaders in new and developed fields. (b) Funding for organizations that support startup businesses The Small Business Act ( 15 U.S.C. 631 et seq.) is amended— (1) by redesignating section 47 ( 15 U.S.C. 631 note) as section 48