A collaboration between two of the entrepreneurial programs housed at FINNEGANS‘ new Minneapolis home, the FINNovation Lab and Impact Hub MSP, is opening a collaborative workspace for socially-conscious startups and entrepreneurs at FINNEGANS House starting May 17.
“We are very excited to open this inspiring environment within our new building and launch the next generation of impact enterprises,” says Jacquie Berglund, founder of the FINNovation Lab. “A space like this for the incubation and pollination of like-minded entrepreneurs has long been a dream.”
The collaboration with Impact Hub MSP, a community workspace group, and the FINNovation Lab, a social business incubator, aims to assist in the development of high-impact startups building mission-driven enterprises. The initial entrepreneurs taking part in the collaboration will be joined by five recipients of the FINNovation Fellowship this September, who will be granted $50,000 each to pursue their social impact business ideas. The fellowship lasts nine months, during which the recipients will receive financial support, one-on-one mentorship with local entrepreneurs and industry experts, and free workspace to help launch their social enterprises.
“Entrepreneurship is never an easy feat, and we’re thrilled to be able to support local and regional leaders who want to make a social impact, but lack the time, tools, money, and resources to do so,” says Mary Rick, CEO of the newly formed collaboration. “This fellowship will be a kind of ‘golden ticket,’ providing all these elements for entrepreneurs, and we hope to launch these leaders, inspire many more, and make a big impact both locally and globally.”
The 13,000-square foot space is located on the top floor of FINNEGANS House in downtown Minneapolis. While both groups will work collaboratively, they’ll also offer separate services and support. The FINNovation Lab will focus on specialized training and offer venture services to support local entrepreneurs, and the Impact Hub will continue to provide private offices and open workspaces, occasionally open to rent.
In addition, they will partner with the Neighborhood Development Center, a community nonprofit that offers education and technical assistance to entrepreneurs in the Elliot Park Neighborhood.
“By working with the FINNovation Lab, we can offer local startups a state-of-the-art destination to work, meet and learn, as well as the opportunity to connect with mission-aligned business resources, training, mentorship and capital,” says Jeff Dykstra, board chair of Impact Hub MSP. “We’re eager to employ these amenities and opportunities to benefit our communities—starting with the neighborhood just outside our door.”