Fifteen start-up companies are getting a boost from St. Louis business accelerator Arch Grants. The winners of Arch Grant’s global business plan competition will each receive $50,000 to help them get started in the city.
Arch Grants co-founder and president Jerry Schlichter says the recipients were selected from more than 400 applicants.
“Arch Grants will be working hard to make these entrepreneurs a success," he said. "And, we’re going to be working equally hard to try to continue to build Arch Grants to make it a true game-changing program for St. Louis."
Ten grants are up for grabs for new businesses that set up shop in St. Louis. A local non-profit, Arch Grants, says it will award the $50,000 grants this May in an effort to bring innovative businesses to the city.
Arch Grants Co-founder Joe Schlafly said the for-profit start-ups that are selected will be required to stay for at least one year.
“St. Louis is not a dog-meat, down place," Schlafly said. "It is a place where things are happening. We’re open for business. We want to be on the short list, not just [on] no list.”