; and (2) in section 5318A, by striking Chairman of the Board of Governors each place such term appears and inserting Chair of the Board of Governors . (u) Trade Act of 1974 Section 163(b)(3) of the Trade Act of 1974 ( 19 U.S.C. 2213(b)(3) ) is amended by striking Chairman of the Board of Governors and inserting Chair of the Board of Governors . (v) Deeming of name Any reference in a law, regulation, document, paper, or other record of the United States to the Chairman of the Board of Governors of the Federal Reserve System shall be deemed to be a reference to the Chair of the Board of Governors of the Federal Reserve System. E Startup Opportunity Accelerator 20501. Short title This subtitle may be cited as the Startup Opportunity Accelerator Act of 2020 or the SOAR Act . 20502. Findings Congress finds that— (1) 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; (2) startups face common challenges as they seek to transform their ideas into successful, high-growth businesses; (3) 4 metropolitan areas in 3 States—the San Francisco Bay Area, New York City, Boston, and Los Angeles—receive nearly 75 percent of all venture capital investment, which is a critical source of funding for high-growth startups; (4) of startups that receive venture capital funding, 2 percent are African-American-owned, 6 percent are Latino-owned, and only 13 percent are owned solely by women; (5) 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; (6) incubators and accelerators support promising startups through partnerships, mentoring, and resources connecting them with seasoned entrepreneurs