Fifteen Startups in St. Louis Receive Funds from Arch Grants

As many as 15 companies in St. Louis received a total of $750,000 in grants from Arch Grants, a nonprofit organization that donates money in an attempt to boost entrepreneurship and job opportunities in the region.

The money it paid out is an equity capital because it is not seeking shares in return.

All of those who received grants are startups and come from a mix of industries and backgrounds. Several are affiliated with other startup incubators in St. Louis. Arch Grants said that so far it has secured more than $2.9 million in funding for early stage startups from various individuals, organizations and corporate donors.

"Small businesses are the biggest drivers of job-creation and economic growth in our state," said Missouri Governor, Jay Nixon, who was also present when the winners of grants were announced.

“These pioneering small-business owners will lead our economy and our state into the future," Jay added.

Arch Grants had received 400 applications seeking grants, of which 15 companies were selected.

If businesses grow, so does the community. That’s why donors pay handsomely for the program.

Beginning in June, the companies will locate in St. Louis and work towards the goal of attracting additional capital, including up to $100,000 of Arch Grants follow-on funding.

Since its founding in January, Arch Grants has raised close to $3 million to support its mission of bringing more startup companies in high-growth areas to St. Louis.

The grant recipients include ––– Companion Pharma, Food Essentials, Graematter, INC., IDC (News - Alert) Projects, Iveria TV, Labor Voices, Material Mix, Med Preps, Observable Networks, Obsorb,   Pharos Scientific, Saturnis LLC, simMachines, Techli and Unique Metal Solutions.

"If you are building a business, Arch Grants is the reason to do it in St. Louis," said Jim McKelvey, St. Louis native, co-founder of Square- a billion-dollar mobile payments device company- head of Arch Grants Advisory Board and general partner at Cultivation Capital.

The intention behind the whole program, according to Arch Grant, is to retain existing entrepreneurs and attract new entrepreneurs to St. Louis.