### Question
Can you define what covered small business concern means?


### Answer
**Covered small business concern** is defined as the following in *15 U.S.C. § 638*:

> a small business concern that—


(i) was not majority-owned by multiple venture capital operating companies, hedge funds, or private equity firms on the date on which the small business concern submitted an application in response to a solicitation under the SBIR programs

#### Citation:
  - *15 U.S.C. § 638*
  - Heading: **CHAPTER 14A-AID TO SMALL BUSINESS**

