Arch Grants: International Reach, Local Growth
May 15, 2013 • Arch Grant News •
As if the theme of the Arch Grants Global Startup Competition is not indicative enough of the impetus behind Arch Grants (Resistance is Futile – You will be drawn in), then the fruits of labor continue to speak volumes. The first class of Arch Grant grantees included folks from across the globe, including the founder of simMachines Arnoldo Muller-Molina, a transplant to St. Louis from Costa Rica. Jerry Schlichter, President of Arch Grants mentioned in his Washington Times op-ed that Molina could have started his business anywhere, including Germany and Japan where he had studied and worked prior, but it was the culture of St. Louis, the grant from Arch Grants along with the visa that helped make the re-location possible. Immigrants bring positive benefits to communities. The Simon Chair of Economics at St. Louis University cited the importance of immigrants to job growth. In the recently released paper, The Economic Impact of Immigration on St. Louis, author Strauss relays that increasing the number of immigrants coming into St. Louis will raise employment, grow incomes, boost real wages, reverse declining home prices and lower unemployment rates. Executive Director, Sarah Spear asserts in a blog posting on Startup Rev.com that startup communities are naturally beckoning to immigrants because of their inclusive nature. Only by welcoming in newcomers, will the startup community expand and thrive. The second round of the Arch Grants competition yielded a 245% increase from international applicants including those originating from Albania, Australia, Canada, Chile, Colombia, Costa Rica, India, Italy, Latvia, Mexico, Nigeria, Philippines, Poland, Serbia and Montenegro, United Kingdom, & United States.