Each year, entrepreneurs from St. Louis and around the world compete for Arch Grants’ coveted $75,000 equity-free grants and access to an ecosystem of resources aimed at helping early-stage startups grow and scale. The local nonprofit’s mission is to catalyze economic impact in St. Louis by attracting and retaining high-growth startups through its annual Startup Competition in an effort to “develop the next generation of employers, civic leaders and philanthropists for the St. Louis region.”
The competition is fierce, though. Of the more than 500 completed Arch Grants applications last year, only 22 individuals and teams ultimately received grants — less than 5%.
Read the full story at the Source.