; and (B) has annual average gross receipts of less than $3,000,000. (2) Requirement Notwithstanding any other provision of law, in the case of a startup that is operating within an innovation center, any requirement related to a Federal grant that prohibits the use of university laboratory or other research assets purchased or supposed by the grant from being used for commercial purposes for an initial time period shall be waived. (e) Business access to capital (1) Innovation center debentures (A) In general Section 303 of the Small Business Investment Act of 1958 ( 15 U.S.C. 683 ) is amended by adding at the end the following: (l) Innovation center debentures In addition to any other authority under this Act, on and after the first day of the first fiscal year beginning after the date of enactment of this subsection, a small business investment company may issue innovation center debentures. . (B) Definitions Section 103 of the Small Business Investment Act of 1958 ( 15 U.S.C. 662 ) is amended— (i) in paragraph (19), by striking and at the end; (ii) in paragraph (20), by striking the period at the end and inserting a semicolon; and (iii) by adding at the end the following: (21) the term innovation center debenture means a deferred interest debenture that— (A) is issued at a discount; (B) has a 5-year maturity or a 10-year maturity; (C) requires no interest payment or annual charge for the first 5 years; (D) is restricted to companies located within an innovation center, as defined in section 2 of the Innovation Centers Acceleration Act ; and (E) is issued at no cost (as defined in section 502 of the Credit Reform Act of 1990 ( 2 U.S.C. 661a )) with respect to purchasing and guaranteeing the debenture; 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