Arch Grants Update from Executive Director
Competition Update and COVID-19 Relief Fund for Founders
Good afternoon,
First and foremost, I hope that you and your loved ones are safe, healthy and well.
Arch Grants exists to empower extraordinary entrepreneurs to build solutions for a better tomorrow — for our St. Louis community and for our global community. As we all face unprecedented challenges and uncertainty, our organization is drawing strength and courage from the entrepreneurs we serve and striving to double-down on our commitment to champion bold leaders.
We have an initial strategy in place to support the entrepreneurs we serve, but we’re learning more every day about what our Founders and companies need right now, and what they anticipate needing in the weeks and months ahead. We are intentionally leaving the full scope of our support open to fully meet their needs and adapt to the evolving landscape. As a close partner and supporter, I want to share our current framework with you directly.
- We WILL hold a Global Startup Competition in 2020 and award grants to early-stage companies, but the deadline for applications for our Competition will be delayed indefinitely. We currently plan to announce a new deadline this summer. As the number of new cases of Covid-19 rises exponentially each day, more of our applicants, judges and team members are focused on the immediate health and well-being of their friends, family and neighbors. With lives and companies being disrupted more and more significantly, we recognize that our Competition deadline can wait while other priorities cannot. We will be communicating with you regularly to update you on the new deadline once it is determined. In addition, we will keep the application portal open for companies to submit, and applicants who have already submitted will be able to update and edit their applications prior to the new deadline, once it is determined.
- We will support our past and current Founders like never before. If there’s anything that we’re sure of right now, its that the believers and builders that we have funded in the past will be part of the solutions of our future, and right now we need to make sure they’re able to weather this storm. By delaying our Competition deadline, we will be able to reallocate our staff resources to better serve as extensions of our Founders’ teams — to help with outreach, connections, strategy, or to just serve as a sounding board. We’re also connecting with our partners at the Federal and State level to make sure that early-stage startups’ needs are being met in relief and stimulus packages, and we’ll apply for and help access any available capital for Founders.
- For some of our Founders, the immediate need for capital is clear and urgent, so we are reallocating a portion of our organizational funds to establish the Arch Grants Relief Fund, making non-dilutive grants available to St. Louis-based past Arch Grants Founders. Funding criteria are still being finalized, but on April 6, a communication will go out to all past Founders with details about how to apply, what expenses will qualify, and how applications will be processed.
Arch Grants was created on the belief that the power of a region that rallies behind extraordinary individuals with big ideas is limitless. We are approaching these unprecedented times with humility, intentionality, and boldness — and we are endlessly grateful for the opportunity to partner with you to build toward a better future for St. Louis.
With Gratitude,
Emily Lohse-Busch
Executive Director
Arch Grants
