1. Short title This Act may be cited as the Small Business Innovation Voucher Act of 2023 . 2. Definitions In this Act: (1) Administrator The term Administrator means the Administrator of the Small Business Administration. (2) Eligible entity The term eligible entity means— (A) an institution of higher education, as defined in section 101 of the Higher Education Act of 1965 ( 20 U.S.C. 1001 ); or (B) a nonprofit research lab, institution, or other similar organization in the United States associated with educational or research activities, including a federally funded research and development center. (3) HUBZone The term HUBZone has the meaning given the term in section 31(b) of the Small Business Act ( 15 U.S.C. 657a(b) ). (4) Program The term Program means the Innovation Voucher Grant Program established under section 3. (5) Reservist The term Reservist means a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code. (6) Rural area The term rural area means any county that the Bureau of the Census has defined as mostly rural or completely rural in the most recent decennial census. (7) Service-connected The term service-connected has the meaning given the term in section 101 of title 38, United States Code. (8) Small business concern; small business concern owned and controlled by veterans; small business concern owned and controlled by women The terms small business concern , small business concern owned and controlled by veterans , and small business concern owned and controlled by women have the meanings given those terms in section 3 of the Small Business Act ( 15 U.S.C. 632 ). (9) Small business concern in an underserved market The term small business concern in an underserved market means a small business concern— (A) that is located in— (i) a low- to moderate-income community; (ii) a HUBZone; (iii) a community that has been designated as an empowerment zone or an enterprise community under section 1391 of the Internal Revenue Code of 1986