MINNEAPOLIS - SAINT PAUL
2018 Impact Report
THE STAFF impacthubmsp.com
651.318.2800 817 5th Avenue South, #400 Minneapolis, MN 55404
Impact Hub community members, partners and friends: We begin with sincere thanks to all of you for your continued support of our shared mission to ignite positive change. As a part of the Impact Hub global network, we believe that the only way forward is by joining forces to build a future where business and profit work in support of people and planet. The Year in Review In 2018, we established and expanded partnerships with several organizations including: • Minneapolis Downtown Council • Social Enterprise Alliance • Blacks In Technology • Kaufmann Foundation in conjunction with J.J. Hill Library • Bush Foundation • Forge North • The Venn Foundation
The most visible work done with another organization is our collaboration with FINNOVATION Lab. In May of 2018, years of work culminated in our move from the North Loop to Elliott Park. It fulfilled a key strategic goal to provide a state-of-the-art destination for the Social Impact community to work, meet, learn, and connect. Occupying the entire fourth floor in Finnegan’s House offers members over 3 times the space to experience the magic that Impact Hub MSP founders Katie Kalkman and Terri Barreiro experienced when visiting Impact Hub in San Francisco.
THE BOARD OF DIRECTORS
The move allowed us to welcome leaders in the Twin Cities Impact Ecosystem like Software for Good and Seiche in addition to retaining long-time members like Warecorp and Cogent Consulting by offering new private offices. In 2018 we celebrated new businesses launched in our space like Victus Engineering while members like Amanda LaGrange, CEO of Tech Dump, who opened their own facility, still remain active members of the Impact Hub MSP community. Members like Minnesota Host Home Network and Drewes Law Firm, who focus on stable housing, social, and economic justice, are doing work that transforms how difficult issues are addressed, reminiscent of grassroots civil rights work of the 50s-60s. Finally, we acknowledge the efforts and celebrate the success of past leaders and contributors to Impact Hub’s success including Danielle Steer and Mary Rick. Thank you all for being a part of the Impact Hub community. In 2019, now that Minneapolis has a premier social impact space, let’s work together living our values as we build a world that works for everyone.
"We are stronger together." -Katie Kalkman, Chair, Board of Directors Let’s Make an Impact! Ixchel McKinnie Managing Director, Impact Hub MSP
MISSION & WORK Impact Hub Minneapolis-Saint Paul is a global-community, consultancy and creative coworking space focused on fostering social innovation by working collaboratively with impact entrepreneurs in the Twin Cities. We set out to create a thriving ecosystem where people collaborate across organizations, cultures and generations to solve the grand challenges of our time. 1. Build a collaborative community of Innovators
2. Provide entrepreneurial support
Convene and Business skills connect training entrepreneurs, Incubation practitioners, Build a collaborativeprograms investors and Networking community of organizations opportunities
3. Offer working infrastructure Manage collaborative working space Provide essential business services Prime event venue
4. Enable impact ecosystem
Partner with others committed to impact and building the social enterprise sector
OUR MISSION IS TO ACCELERATE SOCIAL IMPACT IN THE TWIN CITIES.
ABOUT US 2005 First Hub opens in London 2009 Coworking begins in the Twin Cities 2013 Founders commit to bring Impact Hub to MSP & idea for Brewtel was born 2014 Launch pilot Impact Center 2015 Full admission to Impact Hub Global
2017 Bush Grant & Collaboration Agreement 2018 New space opens!
About the Collaboration In May 2018, Impact Hub MSP moved from the North Loop into Elliot Park's FINNEGANS House to create a new space for coworking, community engagement, and social business acceleration. Impact Hub MSP and FINNEGANS' FINNOVATION Lab have partnered to create a unique space where social entrepreneurs can learn and thrive.
Our Shared Mission Our mission is to inspire, nourish, and scale inclusive impact enterprises, entrepreneurs, and community leaders. As an organization, we: • Provide a state-of-the-art destination to work, meet, learn, and connect • Connect entrepreneurial leaders to mission-aligned business resources, training, and capital • Curate peer-to-peer impact practice groups and share global best practices • Spearhead impact initiatives within the Elliot Park neighborhood
Impact Hub Values Authentic Community We create an empathy based ecosystem where changemakers thrive through genuine connection, innovative collaboration and mutual commitment.
Action We actively engage in social change through community-guided best practices to encourage more immediate results.
Because greatness doesn't grow in isolation.
Shared Power We believe that innovation and interconnections between mission driven people accelerates change when everyone is given a seat at the table.
Sustainable Problem Solving We leverage business principles and practices as tools to generate positive advancements in our local and global communities.
Diversity & Inclusion Our community celebrates diversity and inclusion while unapologetically fighting for fair and equitable treatment of marginalized peers.
GOALS Our Goals for 2019 Strengthen local ecosystem with Hub known as a major player
Grow Membership Total members = 250+
Expand offerings & partnerships to reach entrepreneurs at various stages and operating at various locations
All dedicated desks and offices are filled 80% of time
Expand sources of income to sustain operations
Improve operating systems
Expand professional support services to members
Increase efficiency & reduce staff time by making systems stable and simple to use
Add more ticketed events that draw in new entrepreneurs
Path to Sustainability
Dedicated Desks 16%
The Impact Hub Minneapolis St. Paul model generates earned revenue from four primary sources:
Event Rentals 13% $22,548
Memberships Dedicated Desks Offices Event rentals Offices 48%
NUMBERS SERVED & CURRENT POPULATION
Work Trade Volunteers
'Experts are In' volunteer coaches
Hours that members used our conference room and training space
People of Color
Venture stages 45 30 15
O th er
Sc al in g
O pp s
St ar t-u p
R un ni ng
Fo rm at io n
D ev el op m en t
In te nt
Total events to connect a growing network of social entrepreneurs
Our staff is dedicated to leading us in co-creating an even more diverse membership over 2019. This includes events, programming, and sponsored memberships targeted to reach a wider array of social entrepreneurs and change makers. It also means we are reimagining everything, our vocabulary, the signs in our space, the speakers we highlight, and the welcome everyone receives when they enter -- to inform and reflect our radically inclusive approach.
MEMBER & PARTNER SNAPSHOT
*Partnerships represented by donated space, joint programming, funding or formal partnership.
COMMUNITY IMPACT & NEED
Our members are making an impact!
Members were semi-finalists in the 2018 MN Cup Competition Clip Different, Mobility 4 All, Ecotone, Footprint Project
Used Impact Hub to Collaborate with other members
Added staff in 2018
Increased revenue in 2018
Gained visibility & credibility as a result of being an Impact Hub member
Sustainable Development Goals (SDGs) The Impact Hub Global community leverages the SDGs as a tool for measuring the impact of the organizations that we support. Our members have reported directly working on the circled SDGs.
FROM OUR MEMBERS Plugging into the Impact Hub community has been tremendously helpful. It provided connections and resources to feel more innovative and nimble. -Ivy, Find Your Power
I found a home with Impact Hub/FINNOVATION Lab for so many reasons. I came for the coffee and I stayed for the community. -Susan, Cogent Consulting
We're proud members of Impact Hub MSP, so it's great to see how they connect their work to a global definition of good through the Sustainable Development Goals! -Ted, Ecotone
I am grateful to have a space to host meetings and make connections with other Hub members. -Tony, Wrfcoin
PROGRAM DESCRIPTIONS Operating a coworking and event space is just the tip of the iceberg of what Impact Hub MSP offers. We operate a number of educational and community events and opportunities to help our members build their ventures, create more impact, and connect more deeply to resources and peers.
Coworking & Event Space
An alternative to a home office or coffee shop, we offer affordable work and event space for entrepreneurs and change makers to execute their work.
To decrease operations costs and increase access to our space, we offer free memberships to selected entrepreneurs and change agents who contribute 5 hours of expertise to Impact Hub.
Community of Practice
Impact Hub MSP offers a network of experts, thought leaders, and professionals to mentor members based on their needs. In addition, members provide peer to peer mentorship through our communities of practice and informal connections.
Topic and sector-focused peer-to-peer learning networks provide structured opportunities for sharing best practices and technical knowledge. Current Communities of Practice: Impact Investing, Impact Measurement and Reporting
Program Feature: TCSW
Each month we host a series of social events dedicated to building trust, expanding social networks, and introducing new people to the community.
The Twin Cities was a busy place with Startup Week, Food/Ag Ideas Week and the Blacks in Tech Conference all happening at once! Over 200 panels, workshops, trainings and networking events took place throughout Minneapolis and Saint Paul.
Impact Hub/FINNOVATION Lab was proud to be the home of 12 of those inspiring events.
MEET A MEMBER: SOFTWARE FOR GOOD Software for Good is a team of do-gooders who believe your day job can be your dream job. Casey Helbing started his own consulting business in 2004 while taking on pro-bono nonprofit work on the side. When he realized he was rushing home to do the nonprofit work, Casey decided to shift his business to focus on ‘for-good’ work. Casey founded Software for Good in 2010 in order to bring people and technology together to solve complex world problems. SfG was one of the first organizations in Minnesota to become a General Public Benefit Corporation. Certified B-Corporations meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. Casey and his team wanted Software for Good to be more than just a name. By becoming a B-Corp, they show proven dedication to people, profit and planet. The SfG staff is made up of passionate social good enthusiasts who have causes of their own they care deeply about. Eventually, the team would like to tackle some of these causes, such as affordable housing and education, with technology of their own.
FINNOVATION LAB FELLOWS Five FINNOVATION Lab fellows began their Fellowship in September which includes financial support and a special FINNOVATION Lab training series. In addition, each fellow receives full membership in our coworking space and access to all Impact Hub programs. "The insights that I have gotten have allowed me to understand so much more about my leadership style and what I bring to the table, and how I let my strengths shine while also making room for others.” - Nick Alm, FINN Fellow
PERK: The Natural Beauty Lab uses up-cycled fair-trade, sustainable sourced coffee grounds from local coffee shops to create natural skincare products.
Junita's Jar is a premium cookie supplier that donates a portion of its proceeds to support education and awareness initiatives dedicated to ending relationship violence.
Michelle Tran Maryns
Sparkle is a go-to reservation app Mossier is a global venture capital The UniversalScholarship that gives back to the firm that provides funding, Application is an integrated community. Beauty Salons and technical assistance and business financial aid distribution system business owners will use Sparkle to planning to LGBTQ entrepreneurs tackling the problem of support the causes they care about in partnership with Minnesota information silos in the higher most. based corporations, nonprofits education financing marketplace. and higher-ed institutions.
Locally Rooted, Globally Connected We are proud to be active members of Impact Hub Global. Here is a quick snapshot of what is happening on a global level.
Impact Hub MSP Members expand business to Mexico
Victus Engineering was built on the desire to help clients overcome complex design problems through a collaborative and creative process. Even though they have only been operating for 3 months, the team has already expanded to Mexico. One of their current clients has a plant in Monterrey. Victus took the opportunity to expand their business south of the border. By connecting with Impact Hub, Victus is able to office out of both Minneapolis and Monterrey!