2021 Impact Report by ImpactHubMinneapolisStPaul

Impact Report 2021

MSP

Future Business

2021 IMPACT REPORT

Better Better

Impact Report 2021

MSP DRIVEN BY OUR VALUES BUILDING A MORE INCLUSIVE, SUSTAINABLE WORLD

Our mission is to accelerate social impact by connecting,

inspiring & supporting

Action

Actively engage in social change through community guided best practices to encourage more immediate results

Sustainable Problem Solving

a community of social innovators & entrepreneurs.

Diversity and Inclusion

We accomplish this by: Catalyzing a vibrant community Curating learning experiences that build economic participation Cultivating cross industry and sector collaboration Providing welcoming spaces to call their work home Connecting to a global network of changemakers

Authentic Community

Shared Power

Leverage business principles & practices as tools to generate positive advancements in our local & global communities

Celebrate diversity & inclusion while unapologetically fighting for fair & equitable treatment of marginalized peers

Empathy based ecosystem where changemakers thrive through genuine connection, innovative collaboration & mutual commitment

Innovation & interconections between people accelerates when everyone is given a seat at the table.

MSP

Community

Partners & Collaborators

The Ecosystem Startup Competitions CDFIs & Community Services

Impact Reporting & Analysis

20+

B2B Services Certified B Corps & PBCs

Impact Hub MSP Community building Training & mentorship Shared workspace Global connections

Social Entrepreneurship Education Leadership Associations

Accelerators & Incubators

Innovation Promotion & Funding Impact Investors

Bush Foundation BTap Chameleon Shoppes Cogent Consulting CRF Diamond + Branch Elevate Business HC Fathom Consulting Forge North Global Shapers GoodCarts Greater MSP Hands on Twin Cities Improve Group Kauffman Foundation Launch MN MINN MN B Local MN Cup Mpls Downtown Council Social Enterprise MSP Social Venture Circle UMN Foundation Venn Foundation

200+ 131EpernayGroup 3M Angaza Bizarre Solutions Black Tech Talent Body Love Products Breathe99 Bridgemakers Brown Venture Group Centered Wealth ClipDifferent Collectivity Connect the Dots COR Diversity in Climate Action Ecotone Enlighten EOS Ethos Fair Anita Folk School Warroad Forever Ware GogyUp Good Around the Globe Groove Capital Healy Holistic Ethics Ideation4 Instructiv Junita's Jar Kindly Lip Esteem Mindful Chair Morgan Stanley NDN Collective NextLightEnergy Optima Results Seasoned Specialty Foods Seawoof SmartSet Social Entrepreneur Podcast Social Impact Strategies Group Software for Good Spark Y StoryForge Tech Dump The Business Women's Circle The Milkweed Group TiAngy Designs Uniqey Global Wiser Paths

Impact Report 2021

collaborative A NETWORK IN NUMBERS

Impact Hub Members

Inclusive

NETWORK IN NUMBERS

Creating

Impact Report 2021

MSP

Opportunities

Demographics

We are committed to making Impact Hub affordable and accessible to social entrepreneurs seeking a supportive community, while also providing services to a wide breadth of changemakers in different stages and industries.

Female

Native American 5.1%

Industry

Non-Binary

Other 5.1%

Asian American 10.2%

Professional Identities

Agriculture

Male

Entrepreneur

Support

White 45.8%

Hispanic 8.5%

Social Entrepreneur

Arts, Entertainment

Startup Professional Education

Nonprofit Professional

Finance

Freelancer/Consultant

Health

African American 25.4%

Student

Media Professional/Techincal

Legal Entity

Investor 50

Technnology

Academic Professional

Water, Waste Management

Activist

Retail

Artist

Other

2.5

7.5

10 10

4 Undecided

For Profit

Nonprofit

Hybrid

Impact Report 2021

MSP

81% 57% 55% of our entrepreneurs achieved REVENUE GROWTH

50% support MAJORITY LOWINCOME

created new PARTTIME or FULL-TIME JOBS

of our entrepreneurs INCREASED the number of PRODUCTS or SERVICES offered

MEMBER ACHIEVEMENTS

Inspiring Entrepreneurial

Action

It is amazing what our members have been able to accomplish despite a global pandemic. From revenue growth, to creating new jobs to focusing services on low-income individuals who need it most, our members continually inspire us with their action.

MEMBER GROWTH

Brown Venture Group Founders and Managing Partners, Chris Brooks and Paul Campbell, Listed In Twin Cities Business “TCB 100” for 2022. Received $10M committed investment from Best Buy for their inaugural fund.

VENTURE

Brown Venture Group brownventuregroup.com

Impact Report 2021

MSP MEMBER STORY

Youth Leading

Growth

Bridgemakers bridgemakersmn.org

Bridgemakers is a holistic civic social and financial capacity building platform which amplifies the stories and mentors the leadership of black, brown and otherwise marginalized youth. They build bridges between young artists, activists and entrepreneurs with experienced leaders to engage intergenerational collaboration in breaking cycles of miseducation, poverty, violence and addiction. Together, they are reimagining and revitalizing marginalized communities to flourish with passion, purpose, positive relationships and power.

Celebrating Black Male Educators MEMBER STORY

VENTURE

UpLIFT

upliftmovement.org

UpLIFT Movement's mission is to recruit, retain & engage so that black male educators thrive & excel. Across the USA Black Male Educators make up about 2% of all educators despite research indicating the impact educators of color have on all students. Black Male Educators are faced with so many challenges in the field of education. From isolation, racial bias, racial inequities, self hate, tokenism and the simple fact that the system was never designed for people of color let alone black men. This publication is created in the spirit of decolonizing these educational oppressive challenges and UpLift current Black Male 6 Educators and visually inspire young Black Aspiring youth.

Impact Report 2021

MSP

START & GROW

Helping Entrepreneurs

Succeed Follow us

Our main driver is ensuring entrepreneurs have the resources they need to succeed. That includes a supportive network that connects innovators to each other, other entrepreneurial support organizations and public institutions to create impact at scale. We facilitate "serendipitous connections" between our members and the community. We offer business advice, exposure to possible partners and supply chains, entry into pitching competitions and accelerators and innovation opportunities.

Inspire 65% developed new ideas 79% learned about new issues and trends 75% strengthened their personal motivation

Connect 86% connected with advisors and experts 79% partnered/collaborated with other members 96% feel part of larger community and network

Enable 86% developed new skills and capabilities 82% gained increased visibility and credibility 71% accessed better working infrastructure

PROGRAM STORIES

Getting

Started

Impact Report 2021

MSP

40% of our members are in the early stages of their entrepreneurial journey, including 15% who still just have an idea and students who are curious about starting to dip their toes into the social impact space. Impact Hub MSP curated these unique programs to support those entrepreneurs and innovators just getting started.

INTERNS 4 IMPACT

Connecting Students with Mission Driven Startups

Interns 4 Impact connects small, sociallyminded businesses with students from top MN colleges. Both receive additional support to help make the experience the best it can be. Since 2019, Impact Hub MSP has connected 43 interns to 22 Social Impact Businesses in the Twin Cities.

10% of interns received job offers from the company where they interned

ENTREPRENEURSHIP 4 GOOD

From Idea to Action

Part graduate course, part online accelerator, this program is designed for those who are starting or hoping to start a new mission driven venture

Develop/Test

Launch

Venture Stages

Grow

In 2021, 12 entrepreneurs completed the program working in 2 separate cohorts. 75% of participants were people of color. 8

Impact Report 2021

MSP

ENTREPRENEUR SUPPORT

Accelerating

Growth

In 2021, members in our network received over 230 hours of free mentoring and coaching thanks to support from our volunteer experts and funding through the following partners:

More than 1,400 participants joined in curated entrepreneurial support programs including a cohort for aspiring social entrepreneurs ready to take their venture from idea to action, an internship program connecting students to small social businesses, weekly pitch practice and more.

156

unique events & entrepreneur support programs

1,400

program participants in entrepreneur support programs

Start of 2020

13% INTENTION FORMATION - looking for opportunities and ideas to create something new

End of 2020

2% 13%

3% IDEA DEVELOPMENT - deciding on an idea and developing its concept and plan

27%

30%

30% of venture success is attributed to Impact Hub

STARTUP INITIATIVE - starting activities, making first sales, building organizational structures.

29%

23%

RUNNING OPERATIONS -having regular activities and running and established business.

9% SCALING - actively expanding to grow in size & impact

31% 9

Impact Report 2021

MSP

A Changemakers Journey ENTREPRENEUR SUPPORT

Every entrepreneur's journey is different. There is not one singular path that works for every business and the path is rarely a strait or smooth one. Impact Hub MSP is a stepping stone along the way for entrepreneurs throughout their journey.

Intention Formation An idea formed at their college apartment after deciding to go Vegan.

VENTURE

Coconut Whisk coconutwhisk.com

Running Operations In 50+ stores and set up Brick & Mortar shop through Chameleon Shoppes, a partner of Impact Hub MSP

Startup Initiative Launched website, secured first retailer, accepted into Cohort 3 of Lunar Startups, an incubator for diverse leaders founding high impact ventures.

NOW

Scaling Added 2nd distributor & programming. Named one of Mpls/Saint Paul Business Journal's 40 under 40.

2018

Idea Development Won business competition, spreading the word and practicing their presentation at 1 Million Cups, a program hosted by Impact Hub MSP

Impact Report 2021

MSP

UN SUSTAINABLE DEVELOPMENT GOALS

problems

Innovative Solutions to Complex Global

These global goals outline the complex challenges of our time. Businesses in our network are developing and implementing innovative solutions for access to education, creating more equal opportunities for all, tackling health and wellbeing problems and contributing to decent work and economic growth.

78% Follow us

of entrepreneurs are impactfirst, meaning they prioritize social and environmental returns over financial returns.

Across our network, education, decent work, good health, reduced inequality, sustainable cities and gender equality are the most solved for UN SDGs.

Impact Report 2021

MSP

Partnering For Change PARTNER STORIES

From Empty to Equity The Chameleon Shoppes is dedicated to the experiential and economic vitality of downtown Minneapolis. Their purpose is to create vibrant downtown experiences by transforming empty retail spaces into equity opportunities for BIPOC- and women-owned businesses.

Chameleon Shoppes & Minneapolis Downtown Council

Sistah Co Op (IDS Building) Coconut Whisk (Young Quinlan Building) Uniquely Global (Gaviidae Common) B'Youtique (Baker Center) Roho Collective (IDS Building)

In 2021 Chameleon opened 5 full time stores, including a special selfie museum for the holidays. In September, they sponsored the Latino Business Week Pop-Up with 12 new vendors and are developing relationships with Latinx support organizations such as the Latino Economic Development Center.

Social Enterprise MSP

Why Social? From Nov 11th - 20th, 2021 Social Enterprise MSP & Impact Hub launched a digital campaign to share the stories behind 7 incredible social enterprises highlighting their community impact and showcasing Why Social is important to them and their work. Over 60 businesses were invited to participate in sharing their own stories of Why Social, giving more opportunities to shine a light on their impact. The week was followed by Impact Hub's annual Goods 4 Good Market featuring 20 social impact makers.

BUSINESS MODEL

Revenue Generation & Financials

Impact Report 2021

MSP

Revenue Sources Individual Contributions 1.1% Government Grants 19.5%

The COVID-19 pandemic has transformed our social and economic lives. It has impacted our ability to access clients and make sales. However, like our members, we have shown resilience. Over a third of Impact Hub member ventures globally pivoted during the crisis and another third say their business is thriving despite the challenging circumstances. Impact Hub MSP is grateful to have the support of the donors & sponsors below and our amazing members who have stuck with us throughout the pandemic.

Donors & Sponsors

Memberships 40%

Foundation Grants 38.9%

Statement of Activities Total Income:

Total Expenses:

$386,137 $368,365

Impact Report 2021

MSP

and green just world

LOCALLY ROOTED, GLOBALLY CONNECTED

As part of 100+ Impact Hubs worldwide, we believe in the power of entrepreneurship to create a better world.

Building better business. Designing impactful solutions. (re)imagining the future. This is what our community of impact-driven entrepreneurs, creators, innovators and intrapreneurs does; taking action - today - to create a better tomorrow for people and planet. Our world is facing complex challenges. Challenges that will only be tackled through collaboration. At Impact Hub, we make collaboration happen. We connect entrepreneurs and innovators to large organizations, investors and the public sector. Why? To enable inclusive and sustainable innovation at scale. We believe that the time to act is now. And the way to act is together!

What

changewill you make?

From Accra to Amsterdam and Manila to Minneapolis, impact-driven business is proving to be the only way forward. What action will you take today, for a better tomorrow?

100+ 1,200+ 24,000+ Impact Hubs

Impact Hub staff

community members

Impact Report 2021

MSP

Staff

Board

OUR TEAM

Thank you! Volunteers

Get in touch www.minneapolis.impacthub.net host.msp@impacthub.net

Member Council

/impacthubmsp @impacthubmsp /ImpactHubMSP /impacthubminneapolis-saint-paul

Displayed member data and information is based on the Annual Global Member Survey conducted in February- March 2021 and the Local End of Year Survey conducted in December 2021-January 2022. The final sample contains a total of xx responses. Original design of this report done by Impact Hub Global.