Arch Grants, the non-profit organization dedicated to creating a more robust startup culture and infrastructure in St. Louis, today announced awards totaling $1 million to 20 early-stage startup companies willing to headquarter in St. Louis. The announcements were made at a news conference held at Polsinelli.
Since 2012, Arch Grants (ArchGrants.org) has given out more than $1.9 million in grant funding to 35 companies – 32 of which are still operating, while one (Obsorb) was acquired – leading to $6.5 million in revenue, $17.7 million in addition capital raised, and 192 net new jobs.
The 2014 recipient companies hail from six different states, the United Kingdom and Colombia and will each receive $50,000 in equity- free cash, with the only requirement being they must relocate or continue to operate from St. Louis. The 2014 Arch Grant recipients are: Artifox, BetaVersity, Blue Line Security Solutions, Cast, CoMo Medical, Dabble, Ephecom, FreightGrid, greetabl, Hyde, Jolt, Less Annoying CRM, LIFEPACK, Made for Freedom, MeterGenius, Nanopore Diagnostics, Prattle Analytics Tallyfy, Tuloko and Wondermento.
Polsinelli congratulates Nanopore Diagnostics and Blue Line Security Solutions.
Over 90 volunteers evaluated hundreds of applicants through two preliminary rounds of evaluation. Ultimately, 46 companies were invited to compete in the final round of the competition. Two separate panels of St. Louis leaders grilled the finalists on their business models during Finalist Weekend in April. The Arch Grants Board then selected 20 grant recipients based on extensive feedback from the judges, and factors such as scalability, financial viability and the progress of the concepts’ prototype or minimal product.
"Arch Grants is a wonderful way for entrepreneurial companies to gain early stage funding, as well as sound business advice and mentoring,” said Brian Salmo, a business attorney with Polsinelli and president of the Friends of Arch Grants. “It's always exciting each year to have our firm hold the news conference to announce the recipients, and we look forward to working with these young businesses and helping them reach their goals."
Attorneys in the St. Louis office of Polsinelli are committed to the vitality, economic development and sustainability of St. Louis’s business and legal communities. The firm’s St. Louis attorneys are involved with and serve in leadership roles in a variety of civic organizations including the Regional Business Council, St. Louis Regional Chamber, Partnership for Downtown St. Louis, Civic Pride Foundation and Missouri Growth Association, among others. In addition, Polsinelli attorneys in Chicago, Denver, Kansas City, and Phoenix have strong connections with similar support organizations in their markets.