On Friday, Arch Grants announced the finalists for its 2014 Arch Grants Business Plan Competition. The field has been whittled down to 46 entrepreneurs. Twenty of those finalists will win $50,000 each along with business support services to help them launch amazing businesses. In exchange for winning, they have to locate, or relocate, to St. Louis for at least a year.
Arch Grants named the 46 finalists Friday who will compete for the 2014 round of grants.
Twenty companies will receive $50,000 grants each in exchange for moving to St. Louis.
The finalists have businesses proposals that range from education and consumer products to biomedical devices and technology. They represent four countries, including Canada, Colombia, the United Kingdom and the U.S., as well as 11 states.
Arch Grants Board President Jerry Schlichter said the competition is raising St. Louis' profile as a destination for entrepreneurs.
The St. Louis startup wants to provide schools with a curriculum, training and support to help teachers show students how to write computer code so they can land a good job even if they don't go to college.
To get an idea of why training students to write computer code should be a higher priority for schools, consider these numbers:
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.”