2013 Arch Grants recipients, including the above 2013 class have raised $10.7 million in follow-on capital and generated total revenues of $4.3 million; only three companies are no longer in business. | Courtesy of Arch Grants

Aiming for faster feedback, Arch Grants alters startup contest format

Michael Stacy December 22, 2014December 22, 2014 0 Comments Arch Grants, funding, Grants

2013 Arch Grants recipients, including the above 2013 class have raised $10.7 million in follow-on capital and generated total revenues of $4.3 million; only three companies are no longer in business. | Courtesy of Arch Grants — The 2013 Arch Grants startups (above) are part of a group of 55 early-stage companies to receive more than $3 million from Arch Grants. | Courtesy of Arch Grants

Arch Grants, the St. Louis-based organization that sponsors a $50,000 grant competition for startups, is changing its format to offer grants to 10 startups in both the spring and fall.

Previously, Arch Grants doled out all its grants at once. But the new format will enable startups to receive feedback and reapply for the program in the same year, Arch Grants says.

In addition to the $50,000 grants, which are non-dillutive, Arch Grants provides professional services, mentorship and access to investors for startups that are based in or willing to relocate to St. Louis. Since 2012, the organization has awarded more than $3 million to 55 early-stage companies.

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