Impact Hub and Finnegans have ended a collaboration that they started a little more than a year ago to provide workspace, mentorship and resources to Twin Cities social impact entrepreneurs.
The partnership will officially end on June 30. Impact Hub will move into a new space in Stadium Village that will be open to members starting August 1. Finnovation Lab, Finnegans' accelerator arm, will take over the operations of the Impact Hub's office downtown, which is located directly above the Finnegans tap room.
Representatives from both companies said that they're working together closely to ensure a seamless transition, so that members, tenants, volunteers and other partners will not feel the impact of the changes.
"As a collaboration, we have worked hard to try something unique and ambitious," Finnovation Lab Managing Director Connie Rutledge and Impact Hub Board Chair Katie Kalkman said in a statement to Minne Inno. "However, with differing business models, it has been challenging to make a joint vision possible. We are both committed to serving the social impact community and believe we can do better separately."
Current members using the downtown space will be able to work out of both offices through the end of the year.
Impact Hub, a coworking space and incubator for Twin Cities social impact startups, moved into Finnegans House in May 2018. At that point, Impact Hub and Finnegans had been working together for more than a year to launch and build out Finnovation Lab, a collaboration that would include an accelerator, community workspace and social business incubator.
The first Finnovation Lab cohort wrapped up earlier this month. The next is expected to kick off later this year.
