Login
The 2014 winners of the St. Louis Arch Grants competition were announced today and reveal an increase in women-led start-ups. Of the 20 recipients of the $50,000 grants, 40 percent are women-led which is an increase from the previous year.
The 2014 winners include start-ups predominantly from the United States but also include England and Colombia. From apps designed to help homeowners save money on utilities, to advanced facial recognition programs, this year’s winners represent a wide range of industries and unique ideas.
Arch Grants, a not-for-profit corporation located in St. Louis, has hosted a start-up competition each year since 2012. Winners receive many benefits including a $50,000 grant and special services such as “business networking and mentoring, free legal and accounting services, collaboration with local universities, and discounts on housing and affordable office space,” according to their website.
The startup industry has evolved rapidly in St. Louis due to relatively inexpensive real estate and utilities for start-up locations, and tax credits for businesses in the downtown area.
Although the 2014 Arch Grant winners showed an increase in women-led businesses, that statistic is far from indicative of the United States as a whole. A report earlier this year from the Kauffman Foundation showed that 3 percent of start-ups are created by women.
Still, measures are being taken to increase that number. Regions with growing start-up cultures such as St. Louis, Chicago, and Silicon Valley are enacting initiatives to remedy the issue. Earlier this year, 1871—a Chicago-based company that focuses on the start-up community—created a new facility that focuses on promoting and growing women-led tech start-ups.
Similarly, St. Louis and Silicon Valley have both recently launched angel groups to help women and minority entrepreneurs. Angel groups refer to investors from affluent backgrounds that offer capital for start-ups. The Prosper Angel Network, the angel group in St. Louis, aims to invest $375,000 in 2014 to close the gender gap amongst entrepreneurs which can prove fruitful for the women-led Arch Grant winners. The increased support for women-owned businesses is a small step for gender equality in the male-dominated start-up culture.