The new Arch Grants leader wants to build on the nonprofit’s track record of helping minority-owned startups while encouraging more early-stage companies to make a difference to the City of St. Louis.
Gabe Angieri was recently appointed Executive Director of the organization after five years as Development Director of Arch Grants. His career has included managing talent development and diversity, equity and inclusion initiatives for the St. Louis Regional Business Council.
“I think having an entrepreneurial ecosystem more similar to the St. Louis community that we all live in is key to the future economic prospects and dynamism of St. Louis,” he said.
Arch Grants has funded more than 200 companies since 2012. Angieri said nearly 70 percent are led or carried by a woman, person of color, immigrant or veteran.
The organization provides grants and other support to early stage businesses in exchange for having their headquarters or significant operations in the city of St. Louis for at least a year. Approximately 70% of the companies funded over the past 10 years are still in business and many still have strong ties to the region.
Angieri said that “85% of these companies are still active in St. Louis. To see these numbers continue to stay strong and growing would be a real measure of success for me.”
Like most organizations, he said, Arch Grants has had a tough few years because of the pandemic. But that hasn’t slowed the dynamism of the organization. Last year she managed to finance 34 companies.
This trend seemed to have caught on across the country by the start of the pandemic. A January 2021 Money Tree report by PricewaterhouseCoopers/CB Insights shows that startup investments hit a record $130 billion in 2020.
Another report, focused on this year, shows that venture capital funding is falling following the Russian invasion of Ukraine and a surge in inflation.
Despite this recent momentum, Arch Grants plans to award up to 25 start-up grants of $75,000 each this year. They could also be eligible for $25,000 to support the move to St. Louis.
Startups that have received funding over the years have created more than 2,600 jobs in the area, and Angieri said the organization has also become a catalyst for activity in the city.
“We’ve seen a great deal of urban sprawl over the last few decades, and Arch Grants represents a key factor in driving real and impactful economic growth in the heart of St. Louis,” he said.
Companies applying this year will find out in September whether they have been selected for one of the scholarships.
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