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Arch Grants Releases First Year’s Impact in St. Louis and Announces Gala


August 29, 2013 • Arch Grant News

FOR IMMEDIATE RELEASE: August 29, 2013

 

Arch Grants Releases First Year’s Impact in St. Louis and Announces Gala

 

St. Louis, MO (August 29, 2013)—Arch Grants, the St. Louis global startup competition that provides $50,000 non-dilutive grants to startup businesses announced the results for its first year operations of the winning startup companies. In their first year, the 15 companies have generated over $2.5MM in revenues, have raised over $3.3MM in follow on capital, and created 76 jobs.  “In the first year’s competition, Arch Grants’ winning entrepreneurs came from St. Louis as well as Chicago, Minneapolis, Dallas, Champaign, Illinois, and Australia, France and Costa Rica.  We’re thrilled with their dramatic success in building revenue, raising capital and creating jobs in St. Louis to compete in the global economy,” said Jerry Schlichter, President of Arch Grants. “The St. Louis community has been tremendously supportive of the mission of Arch Grants to put us on the international map as a great place for entrepreneurs.”

In its first year, 15 companies were each awarded $50,000 grants with two of those companies, Food Essentials and simMachines, each receiving $100,000 in additional follow on grants. The startups received free legal, accounting and marketing services in addition to cloud computing software, business mentoring and a host of business connections to help make them successful. Companies must be based in St. Louis or move to St. Louis. Arch Grants is a not for profit which, unlike most business competitions, takes no equity in the companies, allowing them to retain 100% ownership.

“The rapid access to capital was absolutely critical to us,” said Merle Symes, CEO of 2012 Arch Grant winning startup Graematter. “The publicity and credibility was of tremendous help to us. The support services were very helpful to us. The low cost office space helped us to preserve capital. The ongoing support from the Arch Grants team was outstanding.  We also have enjoyed the camaraderie with the other Arch Grants winners.”

“Arch Grants is helping to change the landscape of St. Louis,” said St. Louis Mayor Francis G. Slay.  “The Arch Grants winners are bringing new life, new innovations and new opportunities into the City.”

Denny Coleman, Chairman of the St. Louis Economic Development partnership added, “These are outstanding results.  Arch Grants has drawn positive attention to St. Louis, and I congratulate everyone involved on their contribution to the program.”

Arch Grants recently funded 20 new companies on July 1st in its second round for a total of 35 companies funded.  Arch Grants will be holding its inaugural Gala on Saturday, October 12, the first celebration of entrepreneurship in St. Louis.  At the Gala, Maxine Clark, founder of Build-A-Bear, will be given the inaugural Arch Grants Entrepreneur Award in recognition of her success in founding and building her global company in St. Louis. To buy tickets online and for more info go to  http://archgrants.org/2013-gala/ or on mobile at m.archgrants.org.

About Arch Grants

Arch Grants is the global business competition providing $50,000 non-dilutive grants to promising startup businesses. Its mission is to create an entrepreneurial culture and infrastructure to build successful companies in St. Louis. For more information, go to www.archgrants.org or on mobile at m.archgrants.org.