Page 58 - INC Magazine-November 2018

The Destination

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Minneapolisinneapolis

This city may be guilty of over-politeness, but that’s not

stopping food, health care, and retail startups. By Emily Canal

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STARTUP NEIGHBORHOODS WHO TO KNOW The Minneapolis–St. Paul metro area is
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home to 19 Fortune 500 companies, more ome to 19 Fortune 500 companies, more
s Distinguished by its Serial entrepreneur Ryan Broshar 2
per capita than any other metro region. er capita than any other metro region.
abundance of renovated may have grown up on a farm in Iowa, p
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warehouses, the North but the University of Minnesota grad Source: Minneapolis St. Paul Regional Economic Development Partnership ource: Minneapolis St. Paul Regional Economic Development Partnership
Loop is home to many of a and StarTribunend StarTribune
the city’s co-working has since become a critical connector RED FLAGS
spaces, like the Coven— between entrepreneurs, investors, and
which is geared toward business leaders here. In 2013, he s “There is a politeness ate the security of their
women and nonbinary launched the venture fund Matchstick, that is pervasive in Min- corporate jobs,” says
people—along with med- along with founder-focused organiza- neapolis that can feel John Stavig, director of
ical startups like Zipnosis tion Beta.MN. The following year, welcoming for visitors,” the Gary S. Holmes
and Gravie. says Coven co-founder Center for Entrepreneur-
he started Twin Cities Startup Week, Bethany Iverson. 3 “But ship at the University Spread from left: CourteSy Company; the herbivorouS butCher (2); CourteSy Company; roy Son; Sarah pierCe
s Food and drink entre- and in 2016 he hatched Target’s retail it’s challenging to build of Minnesota. “The cost photography; @ivyinthewild; bethany birnie at aquafox photography; CourteSy CompanieS (4); brandleSS
preneurs have set up accelerator with Techstars. a business here.” People of going into entrepre-
shop in the Northeast— are generally hesitant to neurialism seems
a 7.5-square-mile neigh- 48 Minnesota-based early- share what they really higher here.” This senti-
borhood on the edge of think out of fear of ment was echoed by
the Mississippi River— stage startups received offending someone, says a recent survey of more
including local breweries $495.1 million in venture Iverson, which can make than 100 founders by
612Brew and Indeed it difficult to get honest Beta.MN that found
Brewing, which distrib- capital last year, a 40 percent feedback. the appeal of a corporate
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utes beers throughout increase from 2016. career has diminished
the Midwest. s The culture is risk- people’s willingness to
Source: StarTribune averse. “People appreci- start a company.
2 6 ● I N C . ● n o v e m b e r 2 0 1 8 ● ● ● I L L U S T R AT I O N B y J A M E S TA y L O R