1. Short title This Act may be cited as the Enhancing Entrepreneurship for the 21st Century Act . 2. Findings Congress finds the following: (1) Recent research has demonstrated that— (A) new businesses (commonly referred to as startups )— (i) are disproportionately responsible for the innovations that drive economic growth; and (ii) account for virtually all net new job creation; (B) the rate of formation of United States businesses has fallen significantly in recent years; and (C) as determined by widely cited research, the decline in the rate described in subparagraph (B) is occurring in all 50 States, in all but a handful of 360 metro areas examined, and across a broad range of industry sectors. (2) Before policymakers can identify ways in which the decline in the rate described in paragraph (1)(B) may be counteracted, the underlying causes of the decline must be identified. (3) Economists have identified several factors that may explain the decline in the rate described in paragraph (1)(B), including— (A) demographic changes caused by an aging workforce and slowing population growth; (B) increased industry concentration that may make it more difficult for new market entrants to compete with established companies; (C) increased risk-aversion following the financial crisis and recession that occurred in 2008 and 2009 and deterioration of household balance sheets; (D) difficulties relating to access to capital, particularly difficulties encountered by underserved populations, women, and members of minority groups; (E) the concentration of venture capital in only a few cities; (F) record levels of student debt; and (G) inefficiencies or other difficulties relating to the commercialization of federally funded research and innovation. 3. Definitions In this Act: (1) Appropriate committees of Congress The term appropriate committees of Congress means— (A) the Committee on Commerce, Science, and Transportation of the Senate