ST. LOUIS (KMOX) – Arch Grants, the global business plan competition providing $50,000 grants to startups and taking no equity in return, announced the 15 initial recipients during a downtown ceremony Monday.
“Small businesses are the biggest driver of job creation and economic growth in our state,” Gov. Jay Nixon said during the event. “As Governor, I am committed to helping our startups and small businesses grow, and Arch Grants is another proven tool we are using to do just that.”
In its inaugural year, the competition attracted 420 applicants from 12 countries.
Beginning next month, 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.
The initial grant recipients are:
* Companion Pharma
* Food Essentials
* Graematter, INC.
* IDC Projects
* Iveria TV
* Labor Voices
* Material Mix
* Med Preps
* Observable Networks
* Pharos Scientific
* Saturnis LLC
* Unique Metal Solutions
Find out more about each company at www.archgrants.org/the-startups.
Among the judges who helped choose the final 15 from more than 400 applicants was Jim McKelvey, St. Louis native and co-founder of Square, a billion-dollar mobile payments device company.
“There were a couple of companies that we hope will come back next year with their products a little more ready,” McKelvey said. “If you are building a business, Arch Grants is the reason to do it in St. Louis.”