; (B) enable entrepreneurs each year under the Program to successfully build small business concerns in distressed regions by providing guidance, expertise, and partnerships between the fellows and business supports; (C) increase the diversity of entrepreneurship in the United States; (D) increase entrepreneurship in distressed regions; (E) increase talent retention and migration to distressed regions; (F) increase investment and growth in communities in distressed regions; and (G) ensure the transparent, efficient and effective use of taxpayer funds. (2) Membership (A) Composition The Committee shall be composed of 12 members appointed by the Administrator, of whom— (i) 1 member shall be a small business concern investor such as a venture capitalist or an angel investor; (ii) 1 member shall be a small business concern banker, including— (I) a community development financial institution; or (II) a minority depository institution; (iii) 3 members shall be successful entrepreneurs; (iv) 1 member shall be a SCORE representative; (v) 1 member shall be a mentor in the mentor-protege program for small business concerns eligible to receive contracts pursuant to section 8(a) who has relevant contracting experience; (vi) 1 member shall be an expert on economic development; (vii) 1 member shall be an expert on distressed regions; and (viii) 3 members shall be individuals from the private sector with relevant experience as related to the mission and the duties of the Committee. (B) Preference There shall be a preference for the appointment of members of the Committee who are within populations that are underrepresented among small business concern owners in the United States, including women and ethnic minority groups. (C) Chair The Administrator shall select the chair of the Committee from among members of the Committee. (D) Term; vacancies The term of office of each member of the Committee shall be 6 years, except that— (i) of the members first serving on the Committee— (I) 4 shall serve terms of 2 years