Arch Grants launched its 2017 Global Startup Competition application cycle and will award up to twenty $50,000 equity-free cash grants and pro bono support services to innovative and scalable startups that agree to locate their business in St. Louis for at least one year. Through the industry-agnostic Global Startup Competition, Arch Grants funds innovative technologies, products, and services wrapped within scalable business models that have the potential to make a national or international impact.
The Arch Grants Global Startup Competition will be open from March 1 to May 15, 2017.
As a nonprofit organization, Arch Grants accelerates economic development in St. Louis by funding for-profit companies in order to retain and attract the most innovative entrepreneurs to the St. Louis region. “Arch Grants offers a unique opportunity to startups by offering equity-free cash, pro bono services, and access to the fastest growing startup city in the nation to help entrepreneurs build their companies with a solid foundation to open up space for them to take risks where they need to,” says Interim Executive Director Ben Burke (Olin PMBA’14).
Tyler King, Co-Founder and CEO of Less Annoying CRM , a 2014 Arch Grants Recipient from California, speaks from experience, “We moved here after we looked at all the pros and cons of cities across the U.S. The number one key for us was building a great team, and St. Louis is the best place to build a great team.“ With the advantage of dozens of four-year colleges, universities and Fortune 1,000 companies, St. Louis couples its low cost-of-living with access to talent, expertise, and business development opportunities.
Since 2012, Arch Grants has awarded more than $5.2 million in cash grants to 96 startup businesses that were ready to call St. Louis home. With the help of their program and support services, these companies have gone on to retain over 330 jobs, generate nearly $50 million in revenue, and attract over $100 million in follow-on capital.
This regional impact can be traced to the impact that the organization has on its Recipients. “Arch Grants fast forwarded everything we were doing. We got our first client, we hired our first full time employee, and have expanded into a totally different network,” shares Christina Hawatmeh, Founder and CEO of Scopio , a 2015 Arch Grants Recipient from New York.
Among the many reasons to choose St. Louis for your startup, the sense of community and low degrees of separation in St. Louis are two factors that Arch Grants helps amplify.
Pravina Pindoria, Founder and CMO of Tallyfy , a 2014 Arch Grants Recipient from England, shares that “as soon as we landed, they [Arch Grants] said, ‘Who would you like to speak to?’ Within a couple of weeks, we had these warm introductions made with the C-suites of Emerson, Purina, and Nestle.” Pindoria says. “The sense of community spirit fostered between Arch Grants and these corporations in town is pretty incredible.”
The organization understands the benefits of creating an inclusive community, a result supported by a 2015 study by McKinsey & Co. that found “companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.”
“We’re proud of the fact that 68% of Arch Grants Recipients are led or co-led by a women, person of color, immigrant, or veteran entrepreneur.” says Dalychia Saah, the Global Startup Competition Manager. “To Arch Grants, diversity is not about brownie points, it’s about innovation that stems from people with differing backgrounds working together to solve problems.”
The Arch Grants Global Startup Competition will be open until May 15th. Arch Grants Recipients will be announced to the public at their Annual Arch Grants Gala on November 3rd.
Interested entrepreneurs can check out the Arch Grants Global Startup Competition today and learn more at archgrants.org .
Source: Arch Grants News Release