# Senators Introduce SOAR Grant Program

On October 1, 2026, Senators Cory Booker, Chris Van Hollen, Mazie Hirono, and Lisa Blunt Rochester introduced the Startup Opportunity Accelerator (SOAR) Act, proposing a Small Business Administration grant program for organizations that support early-stage businesses. The bill would authorize $80 million annually for 10 years, with individual grants of up to $1 million for eligible accelerators, incubators, universities, and similar organizations. This is proposed legislation, not an open funding opportunity or solicitation; the authorization does not itself make grants available.

- Eligible organizations can assess how their startup-support activities align with the proposed program, while recognizing that eligibility and award procedures are not yet established.
- Organizations interested in applying can track the bill’s progress and any SBA implementation guidance if the legislation advances.
- The proposal could create a significant future funding channel for startup-support organizations, but prospective applicants should not treat the proposed funding as currently available.

**Jurisdictions:** federal
**Topics:** Grants & Funding
**Published:** October 02, 2026

### Government Entities
- Small Business Administration (SBA)
- United States Senate (U.S. Senate)

### Key Quotes
> Our bill would build ecosystems in every corner of the country to ensure that the next generation of innovators are supported with the access to capital, mentorship, and resources they need to turn their big ideas into thriving businesses.
> — Cory Booker, U.S. Senator

> This legislation would provide entrepreneurs across the country with resources to support their success, helping to build a more inclusive and prosperous economy that works for all Americans.
> — Chris Van Hollen, U.S. Senator

### Sources
- [ Booker, Van Hollen, Hirono, Blunt Rochester Introduce SOAR Act to Expand Support for New Small Businesses with Up to $1 Million in Grants](https://www.booker.senate.gov/news/press/-booker-van-hollen-hirono-blunt-rochester-introduce-soar-act-to-expand-support-for-new-small-businesses-with-up-to-1-million-in-grants) - Booker