The Arch Grants Program Update
May 15, 2013 • General •
Setting a new mile-marker, Arch Grants has now awarded 35 non-dilutive grants in addition providing extensive pro bono support to the highest quality startups willing to locate their headquarters in downtown Saint Louis through its annual Global Startup Competition. As a result, Saint Louis is establishing itself as an innovation hub that attracts entrepreneurs from around the world.
With close to 50 established community partnerships, Arch Grants continues to provide added value to companies looking to start and grow here in St. Louis. In Arch Grants’ first inaugural competition, 15 $50,000 non-equity taking grants were awarded to companies who locate their business in the Downtown St. Louis area.
Within the first three quarters of the Arch Grants program (June 1, 2012 – February 28, 2013), the 15 startups generated over $1.8MM in revenues, $1.6MM in attracted capital and 65 jobs were created in St. Louis. Many of the startups also purchased products and business services from local St. Louis businesses, as well as made many connections allowing for the success of their startup. Follow-on funding was awarded to two 2012 Arch Grant recipients: simMachines and Food Essentials. Both companies have made significant progress over the past year, have a high level of commitment to St. Louis, and have potential for large scale success and reached a number of significant milestones over the course of the initial 2012 program.
Our second round of the competition yielded over 700 applications from all over the world including 16 countries (a 68% increase in applications from the first round). Announcement of the 20 Arch Grant winners took place on May 14th, 2013 and information on the winners can be found here