Lunar Startups Cohort Criteria
We add the most value to startups who have validated a need for their product/service and are ready to make a significant commitment of time and resources to take their company to scale. This means ideal applicants have moved passed the concept or idea stage and have a product + customers, clicks, or capital Investment.
Does Lunar Startups take an equity stake in cohort members?
No, thanks to the support of our partner organizations, our business model does not require that we have equity ownership of startups in our cohort program.
What does commitment and validation mean?
You have an initial product / service that is developed or in development. Testing and sales are a part of your day to day or right around the corner. You also have a team that is starting to assemble.
What if I still have a FT or PT job outside of my startup?
No worries. If you’re applying to the cohort, we expect that you have a lot of flexibility with your job. We want you to be able to take advantage of the unique experiences that we are creating just for you. You don’t need to be at Lunar Startups 24/7, but we want you to place this commitment to the cohort very high on your list of priorities.
What does validated mean?
You can show some user growth and/or revenue. This initial traction could also include attracting additional resources including funding, top talent, etc. You have clear market validation and are setting your company up to move into scaling.
What about geography - I live outside of the Twin Cities?
Our goal is to attract great startups and therefore we do not have geographic boundaries for applicants. However, we require our cohort to operate their businesses out of our space in St. Paul, Minnesota for the duration of the 12-month Lunar Startups program. If this is out of the question, Lunar Startups probably isn’t a great fit.
What does underrepresented and underserved communities mean?
Lunar Startups is open to everyone who is an ally, advocate, and champion for all entrepreneurs. A strong focus of our program is on womxn, people of color, and others who identify as marginalized in the current startup community. We have intentionally and thoughtfully designed Lunar Startups in collaboration with a highly diverse group of potential partners and members.