River City Hustle

Synopsis

Starting a company in St. Louis, Missouri, is challenging, but opportunities exist for resilient entrepreneurs. The city, known as the Gateway to the West, has seen a significant decline in its economy, with the number of 500 companies dropping from 1914 to just 9 due to mergers and offshoring, including the acquisition of Heiser Bush by InBev and the merger of McDonnell Douglas with Boeing. In response, Arch Grants was founded in 2012 to support local startups, providing $50,000 equity-free grants and resources to encourage business growth. Since its inception, Arch Grants has awarded $4.8 million to 96 startups, contributing to St. Louis having the second highest rate of startup creation in the U.S. in 2014. The program emphasizes diversity and inclusion, aiming to support women and minorities in entrepreneurship. Dr. Cheryl Watkins Moore, director of bioscience and entrepreneurial inclusion for BioSTL, highlights the importance of rebuilding the local economy through inclusive practices.