Arch Grants’ Funding in Underestimated Founders Tracks Well Ahead of VC Firms
Arch Grants, a non-profit, celebrates a decade of awarding grants to startups in St. Louis and beyond.
Jerry Schlichter, the brainchild behind Arch Grants, believes the impact is beyond offering employment opportunities and capital returns - it has helped promote inclusivity in St. Louis.
"When Arch Grants launched, Schlichter said the organization contacted every historically black college and university and women’s college in the U.S. to inform them about the competition.
Ten years later, Arch Grants said 69% of the companies it’s funded are led or co-led by a woman, person of color, immigrant or veteran.
Those figures pace well ahead of the venture capital industry, where just 2.4% of U.S. venture funding between 2015 and 2020 went to Latino or Black founders, according to Crunchbase, which tracks venture funding."
Check out the full story by Nathan Rubbelke on STL Inno.
