; and (22) the term innovation center startup means any company that— (A) is primarily located within an innovation center (as defined in section 2 of the Innovation Centers Acceleration Act ); (B) is innovation- or technology-oriented; and (C) has been in existence for less than 5 years. . (C) Exemption from capital requirements Section 301(c) of the Small Business Investment Act of 1958 ( 15 U.S.C. 681(c) ) is amended by adding at the end the following: (5) Exception for applications located in innovation centers An applicant that is located in an innovation center (as defined in section 2 of the Innovation Centers Acceleration Act ) and that does not satisfy the requirements of section 302(a) shall be limited to 1 tier of leverage available under section 302(b) until the applicant meets the requirements of section 302(a). . (2) 7 (a) loan financing for innovation center startups (A) Loan guarantee percentage Section 7(a)(2) of the Small Business Act ( 15 U.S.C. 636(a)(2) ) is amended— (i) in subparagraph (A), in the matter preceding clause (i), by striking and (F) and inserting (F), and (G) ; and (ii) by adding at the end the following: (G) Participation for innovation center startups (i) Definition In this subparagraph, the term innovation center startup means any small business concern that— (I) is primarily located within an innovation center (as defined in section 2 of the Innovation Centers Acceleration Act ); (II) is innovation- or technology-oriented; and (III) has been in existence for less than 5 years. (ii) Participation In an agreement to participate in a loan on a deferred basis under this subsection for an innovation center startup, the participation by the Administration shall be 90 percent. . (B) Guarantee fee reduction Section 7(a)(18) of the Small Business Act ( 15 U.S.C. 636(a)(18) ) is amended— (i) in subparagraph (A), by striking With respect and inserting Except as provided in subparagraph (C), with respect