Hospitality design and concept firm, AvroKO, and sister agency Brand Bureau have launched Hospitable Bridge, an accelerator studio funding and supporting female founders of colour who are changing the hospitality world for the better.

Knowing that most start-ups fail within the first 2 years and that female-founded businesses are historically under-funded, Hospitable Bridge’s mission is to step into this space to financially support businesses owned by women of colour in the hospitality sector. By also providing these companies with women-led mentorship in their early stages of growth, Hospitable Bridge will help ensure these founders are directly supported by female leaders in the hospitality business.

Kristina O’Neal, partner and co-founder of AvroKO and Brand Bureau, comments: “With less than 2% of all venture funding going to women-owned businesses, and significantly less than that going to women-of-colour-owned businesses, we saw an opportunity to leverage our hospitality knowledge and provide a platform and vehicle to champion, support, mentor, and fund female-founded and female-led business ventures whose missions are to innovate in a way that’s truly needle-moving for the hospitality industry.”

According to a study from S&P Global Market Intelligence, public companies with women CEOs and CFOs were often more profitable. Additionally, Harvard Business Review found that if women and men around the world participated equally as entrepreneurs, the global economy could ultimately rise by $2.5 to $5 trillion.

O’Neal adds: “The research shows that women-led startups have the power to generate 10% higher revenues but are often overlooked at the VC level – Hospitable Bridge aims to change that and highlight the power that female entrepreneurs bring to the table.”

All Hospitable Bridge ventures will receive $15k-$50k in pre-seed investment, as well as support and guidance via the AvroKO and Brand Bureau Partners and studios including educational content, legal resources, financial guidance, and operational insight; access to female mentors and business coaching, consulting on public relations, graphic design, interior design, branding and strategy.

The accelerator studio is focused on engagement over volume with the aim of taking on five companies each year. For its inaugural year, Hospitable Bridge is launching this month with two burgeoning businesses: Spaceez, founded by Alpa Patel and Think Forward Society, founded by Kiki Monique.