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| Arch Grants | |
|---|---|
| Name | Arch Grants |
| Type | Nonprofit |
| Founded | 2012 |
| Founders | Edward Jones (investment firm), Tanya M. Snyder |
| Headquarters | St. Louis |
| Region | Missouri |
| Products | Startup grants, mentorship, ecosystem development |
Arch Grants Arch Grants is a nonprofit organization based in St. Louis that awards equity-free cash prizes to early-stage startups to stimulate innovation and entrepreneurship in the Midwest and the broader United States. The program combines cash awards with mentorship, office space access, and connections to local institutions such as Washington University in St. Louis, Saint Louis University, University of Missouri–St. Louis, and civic organizations. Arch Grants has become part of dialogues involving startup accelerators like Y Combinator, Techstars, and regional initiatives in cities including Chicago, Kansas City, and Cincinnati.
Arch Grants provides fixed, equity-free grants to selected startups alongside support services drawing on networks anchored in St. Louis and partners like Cortex Innovation Community. The initiative positions itself among philanthropic and economic development efforts represented by entities such as the Ewing Marion Kauffman Foundation, Kauffman Foundation, Rockefeller Foundation, and corporate programs by Google for Startups and Amazon Web Services. Through its awards, Arch Grants engages with academic centers including Massachusetts Institute of Technology, Carnegie Mellon University, and Stanford University alumni founders seeking Midwest expansion. The organization is often discussed alongside municipal economic plans from offices like the Office of the Mayor of St. Louis and development agencies akin to Economic Development Corporation models.
Founded in 2012, Arch Grants emerged amid a wave of startup philanthropy following examples set by New York City Economic Development Corporation programs and initiatives in Detroit and Pittsburgh. Early funding and endorsements involved local institutions including Edward Jones (investment firm), Saint Louis University Hospital, and civic leaders associated with Greater St. Louis, Inc.. The program’s first cohorts featured startups with founders who had ties to universities such as Washington University in St. Louis and national accelerators like Techstars. Over time, Arch Grants expanded its reach through collaborations with national organizations like Startup America Partnership and conferences such as SXSW and Collision to attract founders from cities such as Austin, Boston, and San Francisco.
The grant program awards cash prizes to a cohort of startups, with eligibility criteria referencing company formation, incorporation jurisdictions like Missouri Secretary of State, and commitments to operate in St. Louis City or St. Louis County. Applicants often include alumni from institutions like Harvard University, Princeton University, Yale University, and graduates of accelerator programs like 500 Startups. Eligibility rules parallel requirements used by competitions run by National Science Foundation programs and seed funds such as SBIR applicants and regional funds like Missouri Technology Corporation. The grants are designed to be equity-free, a model comparable to awards from MacArthur Foundation fellowships and civic prizes such as the MacArthur Fellows Program.
The application process typically involves online submission, review panels comprised of mentors and judges from firms like Bain & Company, McKinsey & Company, and local investors from groups such as Cultivation Capital and Stifel, Nicolaus & Company. Finalists present to panels that include representatives from universities like Washington University in St. Louis and community partners including Cortex Innovation Community and Forward Through Ferguson-linked civic leaders. Selection criteria emphasize team composition (often with links to networks like Techstars and Y Combinator), market potential, and commitment to regional impact, echoing practices of competitions like Rice Business Plan Competition and programs such as MassChallenge.
Arch Grants reports have highlighted job creation, investment attraction, and ecosystem growth in St. Louis comparable to outcomes tracked by the Kauffman Index of Entrepreneurship and regional studies conducted by Brookings Institution. Graduated companies have pursued follow-on funding from venture capital firms such as Sequoia Capital, Andreessen Horowitz, and regional investors including Cultivation Capital and Flyover Capital. Alumni have spun out technologies with connections to research from Washington University School of Medicine, University of Missouri System, and collaborations with hospitals like Barnes-Jewish Hospital. The program’s influence is discussed in the same conversations as successful clusters in Silicon Valley, Boston, and Research Triangle Park.
Arch Grants partners with local stakeholders including Cortex Innovation Community, Washington University in St. Louis, Saint Louis University, Edward Jones (investment firm), and municipal bodies from City of St. Louis. Funding sources have included philanthropic foundations, corporate sponsors such as Mastercard, and in-kind support from legal and accounting firms like Armstrong Teasdale and Ernst & Young. The organization collaborates with national entities such as Startup America Partnership and networks like Global Accelerator Network to recruit applicants from cities like Chicago, Denver, and Minneapolis. Strategic alliances extend to research institutions including Johns Hopkins University and University of Illinois Urbana–Champaign for technology transfer pathways.
Critics compare Arch Grants to other place-based incentives like tax increment financing used in projects involving Bi-State Development Agency and debate whether grant-driven models replicate outcomes seen in Pittsburgh and Detroit revitalization efforts. Questions have arisen about selection transparency akin to critiques leveled at accelerator models such as Y Combinator and equity practices debated in venture communities that include investors from Sequoia Capital and Andreessen Horowitz. Other controversies involve discussions over long-term retention of startups in St. Louis versus founder relocation to hubs like San Francisco Bay Area and New York City, and comparisons to accountability metrics used by institutions like the Brookings Institution and Economic Innovation Group.
Category:Organizations established in 2012 Category:Non-profit organizations based in St. Louis