; (C) provides mentorship and instruction to scale businesses; or (D) offers startup capital or the opportunity to raise capital from outside investors; (2) the term eligible entity means an organization— (A) that is located in the United States; (B) the primary purpose of which is to support new small business concerns; and (C) that is often classified as an accelerator; (3) the term new small business concern means a small business concern that has been in operation for not more than 5 years; (4) the term small business concern owned and controlled by socially and economically disadvantaged individuals has the meaning given the term in section 8(d)(3)(C); and (5) the term State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession of the United States. (b) Funding (1) In general Not later than 1 year after the date of enactment of this section, the Administrator shall develop and begin implementing a program to award cash prizes or grants of not more than $50,000 to eligible entities to support new small business concerns. (2) Use of funds A prize or grant under this section— (A) may be used for construction costs, space acquisition, and programmatic purposes; and (B) may not be used to provide capital or professional services to new small business concerns directly or through the subaward of funds. (3) Disbursal of funds In disbursing funds under this section, the Administrator may use incremental or scheduled payments. (c) Application (1) In general An eligible entity desiring a prize or grant under this section shall demonstrate that the eligible entity will use the prize or grant to provide assistance to not less than 10 new small business concerns per year. (2) Requirements In soliciting applications and awarding prizes or grants to eligible entities under this section, the Administrator shall employ a streamlined and inclusive approach that— (A) widely publicizes funding opportunities to a broad audience