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IMPACT HUB 3.0 Impact Hub members, partners and friends, With over 5,000 social enterprises in Minnesota dedicated to social impact, Impact Hub MSP is proud to be the backbone of support that helps local changemakers transform ideas into positive growth and change. We are thrilled to see more examples of social enterprises listed as top performing companies, new university programs focused on social entrepreneurship and the expansion of supporting resources for startups. This shift is key to building a future where business and profit work in support of people and the planet. In 2019, we focused on building new ways to expand markets, connections and knowledge for entrepreneurial success. Here are a few examples: Skills a la Carte, a series of skills training workshops designed for social entrepreneurs at every stage Chameleon Shoppes, a partnership with the Minneapolis Downtown Council to give underrepresented mission driven makers access to retail locations in downtown Minneapolis Goods for Good Market, a popup market for makers to reach new customers Our goal is to grow social entrepreneurship in the Twin Cities, ensuring equitable access and economic success for all. Whether you are dreaming about an idea, ready to launch your venture or growing to the next level, Impact Hub MSP is by your side. In 2019, we celebrated the successes of members such as Lynn Smith whose Migraine Insight App was named one of the best Apps of the year by Healthline, WeSparkle and GogyUp who made it to the final rounds of the MN Cup and the launch of Tim Reardon’s Next Genovation. As we settle into our new space in Stadium Village, we are excited to grow our partnerships with organizations like B Local, MN Cup and the Minneapolis Downtown Council to increase positive impact and raise awareness of the social impact economy. Thank you all for being a part of the Impact Hub community. Our network of entrepreneurial communities is proof that together, we can do more.

Katie Kalkman CO-FOUNDER/EXECUTIVE DIRECTOR 02

IMPACT HUB | ANNUAL REPORT 2019


MISSION Our mission is to accelerate social impact by connecting, inspiring, and supporting a community of social innovators and entrepreneurs.

Becau se great ness doesn 't gro w in iso latio n

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

VALUES

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IMPACT HUB | ANNUAL REPORT 2019


MEMBER SNAPSHOT

PARTNERS

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IMPACT HUB | ANNUAL REPORT 2019


S R E B M E M L A TOT

NUMBERS SERVED 2019 Demographics

150

341 Total Members Served 4 Staff

20 Work Traders

11 Expert Mentors 15 Strategic Partners 18-24 8.3%

55-64 20.8%

People of Color 16%

18-24 55-64

Item 2 45.2%

25-34 25%

52% Women

Item 1 54.8%

45-54 16.7%

45-54

Ages

15% People of Color

25-34

35-44 White 84%

35-44 29.2%

15

Venture Stages

profession Social Entrepreneuer

10

Student

5

Professional in Startup or Small Business

Id ea

05

Sc al in g

D ev el op m In en te t nt Fo rm at io St n ar tu p In R ita un tiv ni ng e O pe ra tio ns

0

Corporate Professional

Entrepreneur

Freelance/ Consultant IMPACT HUB | ANNUAL REPORT 2019


COMMUNITY IMPACT & NEED Impact Hub leverages the Sustainable Development Goals as a tool for measuring the impact of the organizations we support. Represents the most common SDGs our members are working towards.

In 2019..

At Impact Hub, Our members feel supported in...

te m 35 2 %

Item 1 63%

35% added staff

1 out of 4 Work Trade Volunteers found jobs because of Impact Hub

Ite m 25 2 %

06

"Impact Hub is a place where my individual good work is amplified by skills and talents of everyone around me, creating impact that is bigger and better than I can do on my own." - Abigail

63% increased revenue

Ite m 65 1 %

"As an immigrant, I am thankful for the impact of the Hub in my life. This community has given me purpose and it inspired me to continue to reach my goals." - Silvia

Item 2 37%

Ite m 75 1 %

Partnering & collaborating with others 77% Connecting to advisors & experts 92% Building skills 62% Learning about new issues/trends 88% Strengthening personal motivation 92% Feeling part of a larger network 92% Gaining visibility & credibility 66%

"The relationships and community that has been cultivated here has opened up dreams and possibilities I couldn’t have even thought of prior to being here." - Nick IMPACT HUB | ANNUAL REPORT 2019


MEET A MEMBER UMAR AHMED, TWIGGY FRESH Umar Ahmed is the creator and owner of Twiggy Fresh, a company that makes and sells natural bamboo toothbrushes. Growing up, instead of using a toothbrush to clean his teeth, he used a miswak twig made from the Salvadora persica tree. These twigs have been used for thousands of years as dental hygiene tools. It’s a jarring fact that Americans throw away roughly 1 billion plastic toothbrushes per year. For Umar, this was a problem. And he saw a solution. Combining his passion for environmental protection and his upbringing in the entrepreneurial spirit, Umar started Twiggy Fresh at the beginning of 2018. The toothbrushes are made using bamboo for the handle and natural nylon for the bristles. Making these toothbrushes may be a small thing in relation to the giant problems of waste creation and environmental pollution, but Umar continually comes back to the importance of taking small steps. “When you think about big things, global problems, yes they are big. But also you have to believe we can take small steps to achieve what we want to achieve. That will inspire not only you and me and others but also maybe a lot of people who did not even know about what you’re doing." www.twiggyfresh.com

LYNN SMITH, MIGRAINE INSIGHT Lynn Smith designed, programmed and launched Migraine Insight. This successful, 5-star app helps people with migraines better identify what's causing their pain. This year, it was voted one of the best migraine apps of 2019 by Healthline for its excellent quality, high user ratings, and reliability. Lynn is a 15+ year veteran of the software industry. She has led teams and projects at Fortune 500 companies, startups and non-profits. With a strong programming background, Lynn was one of the first 100 registered developers on the Apple store. She enjoys learning, sharing, and getting great projects launched. "I've worked in many roles and worn a lot of hats, but my main love is working as a hands-on senior UX/UI designer or product owner." apps.apple.com/us/app/migraine-insight-tracker/ IMPACT HUB | ANNUAL REPORT 2019 07


FEATURED PROGRAMS CHAMELEON CONSORTIUM The Chameleon Consortium is a private-public group dedicated to the experiential and economic vitality of downtown Minneapolis. Our purpose is to create vibrant downtown experiences by transforming empty retail spaces into equity opportunities for minority- and women-owned businesses. We’re passionate about opening up business opportunities that may not have been possible before. We’re thrilled to be a part of an evolving downtown that evokes inclusive interest, attraction and pride. In 2019, 66 vendors were placed in the Chameleon Shoppes.

SKILLS A LA CARTE Skills a la Carte is a series of workshops dedicated to giving you concrete skills to help you grow your business. Workshops are offered for those at every stage of their entrepreneurial journey. Just getting started? Have you been planning something for a while but don’t know how to get off the ground? Want to take your enterprise to the next level? We’ve got you covered! Just pick the workshops that teach the skills you need – à la Carte style. In 2019, 16 instructors provided training opportunities. 08

IMPACT HUB | ANNUAL REPORT 2019


EVENTS AT THE HUB

190

Impact Hub believes that the world’s greatest challenges will never be solved by one person or organization alone. We need to work together. That’s why we set out to create a thriving innovation ecosystem where people collaborate across organizations, cultures and generations to solve the grand challenges of our time. In 2019, we opened up our space for 190 events to bring people together to

innovate, collaborate and celebrate.

“Thank you, Thank you, Thank you!!! What a great venue for our event. I think it turned out tremendously well. We were super happy with the event and won’t hesitate to recommend to others.” - Blueprint Financial 09

IMPACT HUB | ANNUAL REPORT 2019


BUSINESS MODEL Revenue Generation

Memberships

Impact Hub MSP generates revenue from these sources: Growth Goals: In 2019, Impact Hub pivoted our spending away from overhead by reducing our operating costs by 75%. This year, we plan to build 4 new private offices and 8 dedicated desks, and have a goal of increasing membership by 30%. We added a quarterly event series to support entrepreneurs at every stage of their journey and bring in additional program revenue.

$35-$350 each

Program Fees $25-$55 per workshop

Meeting & Event Rental $50-$250/hr

Philanthropic Office Rental Support $400 per desk

Thank you to our generous supporters:

Our goal is to increase earned revenue by 40% in 2020.

Areas of Action:

1

CONTINUED LEARNING FOR SOCIAL ENTREPRENEURS

10

2 SPACES FOR IDEAS TO GROW

3

4

DEEPENED CONNECTIONS WITHIN COMMUNITY

BUILD INFRASTRUCTURE SO SECTOR THRIVES

IMPACT HUB | ANNUAL REPORT 2019


GLOBAL IMPACT

16,500+ MEMBERS

k r o w t e n l a b o l g r u o f o t c a p m The i

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IMPACT HUB | ANNUAL REPORT 2019


LET'S COLLABORATE! STAFF Bailey Johnson, Events & Marketing Manager bailey.johnson@impacthub.net Keith Ischer, Operations Manager keith.ischer@impacthub.net Mia Cannon, Community Host & Special Projects Manager mia.cannon@impactub.net

MEMBER COUNCIL Michelle Tran Maryns, We Sparkle Kelly Pratt, So Do It! Society Umar Ahmed, Twiggy Fresh Nick Theisen, The Idealect Ned Zimmerman Bence, GogyUp Zoe Alexander, LOA Tidbits Paul Schadewald, Macalester

BOARD Katie Kalkman, Impact Hub Co-founder, Founder Warroad Folk School Kayla Yang-Best, Seasoned Specialty Foods Kate Dehmer, Minnesota Public Radio www.impacthubmsp.com Chris Dykstra, Warecorp Andrea Davila, Consultant Ted Carling, Ecotone Analytics @impacthubmsp

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IMPACT HUB | ANNUAL REPORT 2019

Profile for ImpactHubMSP

2019 Impact Report: Impact Hub MSP  

2019 Impact Report: Impact Hub MSP  

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