Lunar Startups announced Wednesday that it has selected seven local companies led by entrepreneurs from underserved or underrepresented backgrounds to participate in its second accelerator cohort.
Lunar Startups is one of the Twin Cities' newest startup accelerators. Powered by a $1 million investment from the Knight Foundation, Lunar was launched last year by American Public Media, the parent company of Minnesota Public Radio.
Lunar does not take equity in the participating companies, but asks that entrepreneurs pay $100 a month during the year-long program. In exchange, startups receive workspace, mentorship, potential connections to capital and other business benefits.
Last month, Lunar welcomed two new members to its team. Jeffrey Aguy, a former vice president of the Minneapolis NAACP, is Lunar's program manager. Debbie Aderinkomi is Lunar's marketing coordinator.
The seven early-stage companies in Lunar's new cohort were selected from an applicant pool of 40 startups, the accelerator said in a release. More than 70 percent of the startups selected are led by a person of color, and 60 percent are led by women.
"Our second cohort continues to demonstrate the breadth of innovators we have in our community," Lunar Startups Managing Director Danielle Steer said in a release. "These seven high-growth startups are tackling real problems from fertility support and homeowner services to the student loan crisis and improving outcomes for students living with disabilities. We're excited to surround them with intentional, unique and targeted resources to help them drive growth."
Lunar Startups will mentor these companies over the course of one year. The accelerator will provide its seven companies with dedicated workspace in the Glen Nelson Center at Osborn370 in downtown St. Paul. The companies will also receive a $5,000 travel, marketing and technology stipend; pro-bono services valued at $8,000; as well as nearly $50,000 in access to resources and technology from the Global Accelerator Network.
Here are the seven companies in Lunar Startups' second cohort:
- Creatively Focused: empowering educators with innovative and intentional strategies and skills to improve outcomes for students.
- Fruitful Fertility: connecting those struggling with fertility issues who are in need of emotional support with individuals and mentors who have had similar experiences.
- Maazah: transforming the regional and global food space with an Afghani-inspired, small-batch, gourmet condiment.
- Team Dynamics: helping organizations function through strategy development, skill building and coaching.
- Tedious: providing on-demand home services (such as lawn maintenance, snow removal and leaf cleanup) through an easy-to-use app.
- Virtue Analytics: offering educational and other institutions a platform for grant optimization, tuition discounting and enrollment yield improvement.
- Youth Lens 360: providing visual communication and product marketing and branding services through the lens of youth ages 14-24.
