Arch Grants to Provide Equity-Free Funding to 5 Geospatial Startups in 2020
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Arch Grants Announces 20 New Companies, 25% Increase in Overall Grants Going Forward, at 7th Annual Gala Bob Chapman Presented 2019 Entrepreneur Award.
In addition to awarding 20 Startups $50,000 in equity-free funding, Arch Grants have announced that they will be increasing the number of annual grants awarded from 20 to 25 in 2020.
Representing a 25% increase in Arch Grants funding awarded to startups coming to or staying in St. Louis, the additional five grants will be restricted for early-stage geospatial technology companies, to help build a pipeline of talent and technology for the quickly expanding geospatial cluster in St. Louis.
Igniting St. Louis
During her remarks at the 2019 Arch Grants Gala, Executive Director Emily Lohse-Busch also outlined the organization’s plans to better support Arch Grants Companies and Founders, including an annual Founders Summit and Investor Summit, which the organization piloted last month by bringing over 30 investors from around the country together to network with Arch Grants companies.
Both events will continue annually, and directly connect Arch Grants companies with one another, with potential investors and with potential customers. This event, and other related initiatives, represent the rollout of Arch Grants’ Igniting St. Louis program, for which they were awarded a $1.5 million ($750,000 in Federal funding, $750,000 in matching funds) i6 grant through the Department of Commerce, Economic Development Administration, earlier this year.
“We’re so grateful for the tremendous support we continue to have from this community, and we are excited to push the envelope even further with the i6 Program funds,” said Lohse-Busch.
In describing the Igniting St. Louis program, she added, “Arch Grants, like the entrepreneurs we fund, is not in pursuit of sameness. We are actively seeking out ways to help St. Louis stand out in how we attract, retain and support the most extraordinary entrepreneurs in the world.”