Arch Grants awards 20 start-ups with $75,000 or $100,000 each
The lower amount is for those located in St. Louis. Those relocating to the city for a year get the larger amount.
Arch Grants has announced the 20 start-ups among its 2024 cohort that the nonprofit is supporting with grants totaling $1.7 million.
Now in its 13th year, the St. Louis, MO-based nonprofit has awarded non-dilutive grants of $75,000 to companies already located in the St. Louis region and $100,000 to those that will move their operations to the area. Several years ago, Edwin Williams, Chief Executive Officer of Zenhammer, moved back to St. Louis from Johnson City to take advantage of the opportunity.
According to this report by St. Louis Public Radio, the awards are contingent on each company being headquartered in St. Louis for at least one year.
“This year’s competition was rigorous,” said Arch Grants Executive Director Gabe Angieri. “We had more applicants this year than we’ve seen in the last several years.”
Angieri noted there were also more applicants that were local to St. Louis of the more than 550 total that made it to the finalist round this year than in the past. And of the 20 awardees, the majority of them came from the region.
It’s an indicator that the program has been successful in helping to mature the start-up ecosystem in St. Louis, he added.
“We will continue to take the best companies from outside of St. Louis, give them funding, give them access to the St. Louis resources they need,” Angieri said. “But we’re increasing that standard and saying you really have to demonstrate why St. Louis is the right place for your company to grow.”
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