This bill establishes a $1.25 billion federal grant program administered by the Small Business Administration to support business accelerators and incubators that work with women-owned and rural small businesses. Each eligible accelerator or incubator can receive exactly $250,000 to provide services such as consulting, training, workshops, mentorship, and help accessing capital to their target entrepreneurs. The program targets specific industries including agriculture, creative industries, hospitality, food services, accounting, childcare, and craft-making. Grant recipients must report to the SBA within one year on how they used the funds and their impact on the businesses they served, while the SBA must report to Congress on the overall program outcomes every five years until five years after the last grant is distributed.