St. Louis-based Arch Grants next month will celebrate the 35 startups and early-stage businesses, including 19 from Missouri, that make up the 2021 cohort in the St. Louis-based Arch Grants program. Collectively the companies are in line to receive nearly $2 million in grants.
After participating in the program, the companies have created more than 2,347 jobs, generated more than $479 million in revenue and attracted more than $411 million in follow-on capital.
This is the largest cohort in the history of the nearly 10-year-old Arch Grants program, which is designed to attract and retain “extraordinary entrepreneurs locally, across the country and around the globe to build the future economy in St. Louis,” according to a news release.
Each company in the cohort will receive $50,000 as well as pro-bono professional services from well-known local firms, and $10,000 for relocation if they are located outside of
Missouri and at least 150 miles from St. Louis.
As part of the program, companies will move to St. Louis from across the country including Dallas, Los Angeles and New York.
The companies commit to operating their businesses from St. Louis for at least one year.
Two of the Arch Grants were made possible by donations made in honor of Dr. Donald M. Suggs, publisher and Executive Editor of The St. Louis American. Both grant recipients will be recognized with the Donald M. Suggs Excellence in Entrepreneurship Award.
They are:
Harmonee – a mobile application software company that allows businesses to pose questions to targeted groups of people in exchange for donating funds to nonprofits that those people support, raising funds to support community groups and giving businesses valuable consumer insights.
Co-Founders: Tara Nesbitt, David Rygiol and Justin Trusty
Origin: St. Louis, Mo.
Paerpay– an application software platform that allows merchants to accept contactless payments without installing new hardware, changing processors or downloading apps.
Founder: Derek Canton
Origin: Boston, Mass
On Nov. 17, Arch Grants will host the 2021 Arch Grants Virtual Gala to welcome the
2021 Cohort, and honor Jim McKelvey – founder of Invisibly, and co-founder of Square, the financial services and digital payments company born in St. Louis.
Since 2012, the Arch Grants program has awarded $10.57 million in grants to attract or keep in St. Louis 208 early-stage businesses, helping boost the city’s startup scene with new talent and ideas. After participating in the program, the companies have created more than 2,347 jobs, generated more than $479 million in revenue and attracted more than $411 million in follow-on capital.
Karen Robinson-Jacobs is The St. Louis American / Type Investigations business reporter and a Report for America corps member.
