Arch Grants is a program that kicked off last year in St. Louis. They provide startups with a $50,000 grant (disbursed quarterly over a year). Of course, being that it’s grant money, there is no equity exchanged. Startups selected for the program will relocate to St. Louis where they will enjoy deeply discounted residential and commercial rent, free legal, accounting, marketing, cloud computing and mentoring support, and access to the St. Louis angel investment network.
Arch Grants will award 20 such grants this year and plan on making the announcement early next month. All 20 startups will serve as spokespeople for the St. Louis entrepreneurial community and also be eligible for $100,000 follow on grant money (again no equity).
Our good friend Edward Domain, at media company Techli was one such winner last year. Domain had frequented the St. Louis startup scene from his base of operations, which was Chicago at the time. Once receiving the grant Techli moved to St. Louis and the T-Rex co-working, incubation space.
Domain just recently profiled three of the finalists for this years grants at techli.com
While many startups from across the country apply, and are more than willing to move to St. Louis for it’s rich, budding startup community, some local entrepreneurs have applied too.
Ron Story, a local St. Louis resident and founder of LeadWarmer, told Domain:
“As a resident of the St. Louis metro area, St. Louis is a no-brainer for me. I’ve worked for a St. Louis based startup myself and now that I’ve launched my own venture and have some traction, I am more convinced than ever that St. Louis is exactly where I need to be to grow my business. Being an Arch Grants finalist is humbling and exciting all at once. It makes me proud an East St. Louis entrepreneur can grow a great business here.”
Check out the rest of the story at techli.com