How corporations have helped Minnesota’s startup community grow
Wednesday, August 08, 2018
If you grew up in Minnesota, you probably know someone who works for Best Buy, Xcel Energy, UnitedHealth Group, 3M, or any number of local Fortune 500 companies. And if you don’t know anyone, there’s still no escaping the news coverage. For many years, Minnesota has ranked second in the country for Fortune 500 companies per capita, and much of the local media coverage deals with Minnesota corporations due to their significant economic impact locally and internationally. By comparison, markets that don’t have the foundation of such strong, mature corporations naturally have more media space that can be devoted to startups and up-and-comers.
But companies like Cargill, Ecolab, and Target were startups at one point, and I’ve found them to be deeply invested in the success of their home state economies. Larger corporations are a true asset to startups as they provide critical on-ramps for entrepreneurs.