Dear Impact Hub MSP Community,

As we make the turn towards the new season of Spring, we are excited to announce a new chapter for Impact Hub MSP.

Today we are formally announcing that we are in the final stages of developing a strategic collaboration with FINNovation Lab to create a world-class community and destination for impact entrepreneurs. 

This collaboration combines two of the most advanced initiatives in our region for building infrastructure, community and resources for impact entrepreneurs in MSP.

Together we will be both local and global, prototyping a first-of-its-kind civic innovation and business model within the global network of over 90 Impact Hubs and 15,000 members.

We’re excited about how this collaboration will help us deliver on our mission—and our promise to our community — to provide best-in-class infrastructure for the incubation of impact business and acceleration and community for impact entrepreneurs.

This next chapter holds great promise for our members and community, moving us to a brand-new location in one of the most innovative development projects in the city’s history—the revitalization of East Town, Minneapolis.

In addition to housing Impact Hub MSP, this vibrant new destination will host Kraus Anderson’s new headquarters, multi-family residential units, The Elliot Hotel (a Marriott Autograph hotel), a parking garage, and FINNEGANS House, which will include FINNEGANS Brewing Company and Tap Room, and an event space. (Beer after work anyone?!)

We expect this collaboration to lead to new and expanded membership types and offerings and we will communicate closely with current members as we develop and execute on any transition plans and finalize our membership structure and pricing under this new collaboration.

We are targeting an early 2018 move into this new space, but we still have much work to do as a board to bring this deal to completion.  We are currently working with the FINNovation Lab team to finalize our partnership & business structure.

We have begun a search for a CEO who, until the final business structure is defined, will report to a joint governance board. The final business structure will then define what governance and employment opportunities are available to our current Impact Hub MSP staff and board members.

We are very excited about all the improvements and opportunities this will bring to you, our valued members and community, and we look forward to sharing more details as our plans unfold.

For now, don’t hesitate to reach out to anyone of us if you have questions or concerns.  We will provide the very latest information we have through this dynamic process.  Feel free to email us at board@socialimpact.mn.

Sincerely,

Ben Aase, Katie Kalkman, Andrea Davila, Mary Rick, Terri Barreiro, Chris Dykstra, John Sankara, Jeff Dykstra

The Impact Hub MSP Board of Directors


Frequently Asked Questions

What is changing with Impact Hub MSP?

Impact Hub MSP is pursuing a strategic collaboration with FINNovation Lab LLC to create a world-class community and destination for impact entrepreneurs.

Why is Impact Hub MSP exploring this collaboration?

This collaboration combines two of the most advanced initiatives to build infrastructure, community and resources for impact entrepreneurs in MSP.  Together we will be both local and global, prototyping a first-of-its-kind civic innovation and business model within the global Impact Hub network.  We’re excited about how this collaboration will help us deliver on our mission—and our promise to our community to provide best-in-class infrastructure for the incubation of impact business and acceleration and community for impact entrepreneurs.

Where is Impact Hub MSP moving to?

The collaboration would place Impact Hub MSP in the center of the most innovative development project in the city’s history—the revitalization of East Town, Minneapolis.  In addition to housing Impact Hub MSP, the vibrant destination will host Kraus Anderson’s new headquarters, multi-family residential units, The Elliot Hotel (a Marriott Autograph hotel), a parking garage, and FINNEGANS House which will include FINNEGANS Brewing Company and Tap Room, and an event space.

When will this happen?

Impact Hub MSP would begin occupancy in early 2018.

What will happen to my membership?

We expect this collaboration to lead to new and expanded membership types and offerings.  We will communicate with members as we develop and execute on any transition plans and finalize our membership structure and pricing under this new collaboration.

What will happen to the Impact MSP team?

Impact Hub MSP and FINNovation Lab LLC are in the process of defining the business, governance and ownership structure that will have the best odds of advancing our mission and the shared vision for the collaboration.  We have begun a search for a CEO who, until the final business structure is defined, will report to a joint governance board with representatives from Impact Hub MSP and FINNovation Lab LLC.  The resulting business structure will then define what governance and employment opportunities are available to our current Impact Hub MSP staff and board members.

How will this collaboration be funded?

Impact Hub MSP and FINNovation Lab LLC are pursuing a variety of capital sources and defining the business model that will support its ongoing operations.

For more information, please contact board@socialimpact.mn.