ST. LOUIS--(BUSINESS WIRE)--Feb 18, 2021--
Arch Grants announced that it has reached a milestone in its Sustained Impact Campaign by raising $21.5 million in gifts and commitments. The Campaign will allow Arch Grants to scale its model for attracting and retaining entrepreneurs to St. Louis in an effort to drive local and regional economic development for the long-term. While Arch Grants will continue to raise funds, money raised to date will begin to be distributed in 2021. Arch Grants estimates that at least $600,000 will go toward additional grants and relocation assistance through its Global Startup Competition in 2021, and another $400,000 will go toward the recently announced Growth Grants program to provide up to $100,000 in follow-on funding to selected Arch Grants companies that need additional capital to scale.
Arch Grants awards $1 million in non-equity grants annually to twenty startups who commit to remaining in or relocating to St. Louis for at least one year. This campaign milestone enables Arch Grants to increase its annual grantmaking by more than 50% in 2021, to at least $1.55 million.
“Since 2012, Arch Grants has funded 173 companies with $9,000,000 in grants and given hundreds of entrepreneurs access to our robust and enthusiastic network as they grow their businesses in St. Louis. Arch Grants companies have generated over $400,000,000 in revenue, raised over $307,000,000 in follow-on capital, and created over 2,000 jobs in Missouri to date,” said Arch Grants Executive Director Emily Lohse-Busch. “Moreover, Arch Grants Founders represent the diversity we need to continue to build a vibrant community and thriving economy. This is a unique moment for St. Louis to scale an inclusive, robust ecosystem, and Arch Grants’ Sustained Impact Campaign will go a long way toward making that a reality.”
To date, over 70% of the companies that Arch Grants has funded are led or co-led by persons traditionally underrepresented in the startup sector – women, people of color, immigrants and/or veterans.
“My family and I know first-hand that St. Louis is a strong and vibrant community from which to start a successful business. That’s why I am particularly proud to see the St. Louis region coming together in bold new ways to enable diverse startups to grow, scale and succeed in St. Louis. Through this significant new investment, Arch Grants will be able to increase the scale of its groundbreaking model to further grow our economy and help St. Louis be a national leader for generations to come. I look forward to a continued strong partnership between Arch Grants and Greater St. Louis, Inc,” said Andrew Taylor, Executive Chairman of Enterprise Holdings and Founding Chair of Greater St. Louis, Inc.
“The Sustained Impact Campaign delivers on the founding vision of Arch Grants; it ensures that we can continue to build a pipeline of promising high growth St. Louis companies and continue to increase the scale at which we attract and retain them,” said Jerry Schlichter, Arch Grants Founder and Board Chair.
“As Chancellor at Washington University in St. Louis, I saw firsthand what pulls young people away from the city after they graduate, and also saw what is successful in making them stay. Arch Grants represents exactly the type of activity that we need to grow our region, and their impressive statistics speak for themselves. This Sustained Impact Campaign will solidify Arch Grants as a major contributor to St. Louis' future economic success,” said Dr. Mark Wrighton, Arch Grants Sustained Impact Campaign Co-Chair and Washington University Chancellor Emeritus. “We need to continue to look for new ways to uplift Arch Grants companies and increase the multiplier effect that generates wealth creation at an unprecedented pace and scale.”
The goal of the Arch Grants Sustained Impact Campaign is to continue to attract and retain a steady and increasing pipeline of startups who will help drive and sustain St. Louis’ economy for years to come.
About Arch Grants
Arch Grants’ mission is to fuel economic growth in St. Louis and the region by providing funding and wraparound services to startups that headquarter in St. Louis for at least one year. Every year since 2012, hundreds of early-stage start-up founders participate in Arch Grants’ Global Startup Competition to receive $50,000 in non-dilutive grant funding, concierge networking and fundraising support, referrals, discounts and pro-bono professional services, and access to a growing talent recruitment pipeline as a result of Arch Grants’ partnerships with universities, non-profits, businesses, and government entities. The new Growth Grants program announced in 2020 provides additional funding to a select group of growing Arch Grants Companies who commit to staying in St. Louis to scale.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210218005313/en/
CONTACT: Katarina Matic
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SOURCE: Arch Grants
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PUB: 02/18/2021 10:22 AM/DISC: 02/18/2021 10:21 AM