The SOAR Act creates a new federal grant program to fund organizations that support early-stage startups through business acceleration and incubation services. The Small Business Administration would award grants of at least $1 million to eligible accelerators and incubators to help them provide resources like office space, mentorship, access to capital, and professional services to new businesses operating five years or less. At least fifty percent of annual grant funding must go to accelerators either located outside major venture capital hubs or serving underrepresented entrepreneurs including women, minorities, veterans, formerly incarcerated individuals, and people with disabilities. The program requires grant recipients to help at least ten new businesses annually and submit yearly progress reports measuring business survival rates, capital raised, and job creation. Congress has authorized $80 million annually for the program from fiscal years 2027 through 2036, with the SBA required to begin implementation within one year of the bill's enactment.