ST. LOUIS, Mo. (KMOX) — The number of entrepreneurs looking to start a business in St. Louis, with seed-money from local investors, is increasing.

Arch Grants says it’s received 707 applications from 40 states and 15 countries, including India, Australia, Bolivia, Poland and Israel.

Last year the committee received 420 applications.

“We saw about two-thirds coming from the St. Louis region and a third from outside,” Executive Director Sarah Spear said. “We saw about a quarter of our applicants coming from outside the region in the first round.”

Over the next few months a panel will whittled down the 707 applicants to 100 start-ups. Those applicants will move on the the semi-final stage where 20 of them will win a $50,000 grant.

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