Lunar Startups on track to create $1 billion in economic impact

 
 

St. Paul, MN. – Lunar Inc. dba Lunar Startups is proud to announce the findings from our 2022 impact report.

The startup companies that have participated in the Lunar Accelerator since 2018 have created an estimated $235.6 million dollars in economic impact.

To read the full report, click here.

“This report analyzes the economic impact of the founders who participate in our program in an effort to truly elevate them as drivers of economic impact and encourage the ecosystem to do the same,” says Danielle Steer, founding executive director. “We’re so confident that our entrepreneurs are key drivers of economic power that we’re doubling down on our big ambition to create $1 billion in economic impact by 2025.”

Over the past four years, Lunar has built a holistic system of support for entrepreneurs that removes barriers to success and connects founders to the resources, information, and networks they need to scale their startups.

Lunar partnered with Ecotone Analytics, an impact analysis consulting firm, to analyze the impact of the Lunar program on the business community as well as the impact of the founders whom they serve in the region.

Economic Impact of Lunar Startups Founders since 2018:

  • $235 million cumulative economic impact directly and indirectly supported.

  • $24.2 million in taxes directly or indirectly supported.

  • $74 million cumulative labor income directly or indirectly supported.

  • 1,031 job years directly or indirectly supported since 2018.

  • Each job generated by a Lunar founder supports 2.54 jobs.

  • For every $1 in the economic output of Lunar founders, there is $2.02 worth of value supported in the economy.

“As thought leaders on inclusive entrepreneurship, we will continue to invest in insights that allow us to further understand the entrepreneurial journey and how we can apply those learnings to our region,” adds Danielle.

For more information and to read the report, visit this link. 

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About Lunar Startups

Lunar Startups is building an unshakeable system of support for founders in the Minneapolis-St. Paul who identify as Black, Indigenous, People of Color (BIPOC), LGBTQ, women, and non-binary. The Lunar Accelerator is a six-month program supporting early-stage, high-growth companies ranging from consumer packaged goods to tech-enabled solutions. For more, visit lunarstartups.org. 

Media contact: press@lunarstartups.org

Lunar Startups