CA SB1325

Establishes the California Techquity Innovation Program administered by the Office of the Small Business Advocate to provide grants advancing equity in technology-based business and finance sectors in California upon legislative appropriation.

Awards grants for expansion or operation of technology incubators, technical assistance and mentoring for underrepresented venture capital managers and entrepreneurs, workforce training initiatives, and research on equity entrepreneurship effectiveness.

Prioritizes applicants providing services not adequately funded by existing regional Inclusive Innovation Hubs and those demonstrating access to matching funds from local, federal, or private sector sources.

Requires the office to establish grant guidelines including approval criteria, reporting requirements, and conditions allowing grantees to use up to 15 percent of funds for administrative costs and request funding for one to three-year periods.

Creates the California Techquity Innovation Fund in the State Treasury and mandates annual legislative reporting on program activities and recommendations for improvement, with reports posted on the office's website.