Leaders at corporations in Minneapolis-Saint Paul consistently share anecdotes about the local startup ecosystem being “good, but not great.” 

The simplicity of those words succinctly highlights where we are at the moment while hinting at where we could be. Yes, numerous elements need to come together for the MSP ecosystem to move from good to great, and even more to make sure that it’s great for every entrepreneur no matter their gender or race. But I’ve been focused on one element that makes us unique as an ecosystem – our identity as a headquarters economy.

I have been leading a project for Forge North, the coalition of leaders from startups, investment firms, accelerators, corporations, universities, and other organizations working together to make the Greater Minneapolis-Saint Paul region (MSP) the best place to start and scale a venture. The Forge North Leadership Council established three goals for our local ecosystem, including a goal to ensure 100% of billion-dollar enterprises based in MSP are meaningfully engaged with local startup ventures. Next, our coalition conducted an audit to gain a pulse on how these large corporations were engaging with startups. 

It was clear from this audit that innovation is a focus at the vast majority of corporations, and more corporations are looking to startup partnerships to achieve this goal. However, there are varying degrees of engagement between the large enterprises headquartered in MSP and the startup ventures growing up around them. In spite of our region’s strengths, both sides are more likely to develop partnerships outside the MSP region, rather than with local companies.

The audit revealed enterprise leaders’ desire to build more mutually beneficial partnerships in their own backyard.

The result of this project has been to create the Forge North Enterprise Playbook. Each section of the Playbook gives a high-level overview of practical opportunities to get involved with the local startup ecosystem, why they’re beneficial to enterprises and advice on taking action. We’ve also included specific ways to get started in MSP, guidance on senior-level buy-in and power dynamics, and important insights from a local startup founder.

We wrote this playbook to:

• Provide ideas and insights into ways that local corporations can interact, support, invest and benefit from the local entrepreneurial ecosystem
• Create a tool that members of the corporate community can use to advocate, plan and share internally
• Establish a clear list of opportunities for local corporations to pledge their involvement
• Intentionally highlight the need for large enterprises to take a more intentional approach to working with people of color and women-led startups in our ecosystem.

If you’re a leader within a large enterprise in MSP, use this document to drive internal conversations, achieve buy-in and put your engagement with the ecosystem into meaningful action.

​​In conjunction with the playbook, we will ask your company to make a public commitment to getting involved in new and additional ways throughout the MSP ecosystem to help play a key role in its success. The Forge North Enterprise Pledge for 2022 asks MSP’s leading enterprises to commit to taking action in 2022 in three different categories identified by this Playbook. These initiatives will directly involve and/or impact the local startup ecosystem.

Your organization has the power to positively impact the entire startup ecosystem via your engagement, your actions and your investment. Your involvement can move the needle, and help MSP become a great, thriving hub of innovation and growth.

We hope that by giving enterprises this new tool we are helping to create a symbiotic relationship between local corporations and startups, fostering community and contributing to a thriving local economy. 

Your next steps - download, share, discuss the Playbook and commit to the 2022 Forge North Enterprise Pledge. We’ll be here to help to make sure you’re able to fulfill your commitments and have positive, meaningful engagements with our community.

Stephanie Rich
Head of Platform
Bread and Butter Ventures
Fellow, Forge North