Project Multiplier

A comprehensive research project on the plight of People of Color

in the growing Minneapolis - St. Paul (MSP) Entrepreneurial Ecosystem


Minneapolis - St. Paul has been experiencing huge growth

1.jpg
2.jpg

People of color (POC) population

  • Population growth for POC is higher in Minnesota than the rest of the US

  • POC makes up 20% of population

  • 40% growth in black population in 2017

Technology and Entrepreneurship

  • #2 Best Cities in the Midwest for startups (M25Group)

  • #1 Fastest Growing State for tech jobs (Forbes)

  • #8 Rising Cities for startups

 

Traditionally, the US has failed to put that growth together

In Technology…

  • 83% of tech executives are white

  • there are half as many black and hispanics than the rest of the private sector

Even though

  • Diverse companies perform 35% better than their counterparts

  • Unfair treatment and turnover costs companies $16billion a year

In Entrepreneurship…

  • Only 1% of Ventures Capital goes to POC

  • Only 19% of businesses are minority owned

Even though

  • Minority businesses produce more than $400 billion in yearly revenue

  • Minority businesses actively employ 2.2 billion people


26 Letters is partnering with organizations like Lunar Startups to research the entrepreneurial ecosystem in Minneapolis - St. Paul, so we can:

  1. Inform decision makers about how to create systems that are inclusive for all entrepreneurs

  2. Show technology companies how to structure their systems to retain POC talent

  3. Unlock more economic potential through inclusion