Estimated reading time: 2 minute(s)
In Inc.com’s article “How St. Louis Is Redefining Its Economy by Focusing on Startups” writer Dustin McKissen, also founder and CEO of McKissen + Company based out of St. Charles, MO showcases all of the changes St. Louis has made to not only to build life and growth into a struggling city, but to also ensure that growth and longevity continue for years to come. And those changes have mostly been focused on the technology startup scene that spans from the heart of downtown in spaces like T-REX and all the way out to St. Charles County with OPO Startups and a handful of others in between like CORTEX.
McKissen mentions several other key points to show how St. Louis is doing a its job to focus on growth around the startup scene during a time when, according to a recent research by the University of Virginia, many cities are struggling to create job growth in a market that relies less and less on human hands and more and more on innovative technology.
So, what IS St. Louis doing? Take a look (list created by McKissen):
- Founded Arch Grants, an organization that has distributed more than $6 million in equity-free funding to 114 startups, which in turn have created or retained more than 1,500 jobs and attracted $120 million in follow-on capital.
- Established a $5 million early-stage seed fund to help startups survive the “Valley of Death.”
- Received significant support from state and local government (including the Missouri Technology Corporation, the St. Louis Partnership, and the EDC Business and Community Partners).
- Formed several thriving and unique venture funds.
- Developed several well-funded startup competitions, including the Ameren Accelerator Demo Day and the St. Charles County Demo Day.
And while St. Louis is still in its beginning stages of being a startup hub, it definitely has the right attitude it takes to for survival by doing what it takes to bring innovators to the city and to help keep talented young players from leaving.