Small businesses can benefit from successful grant applications. Many foundations have funds available for individuals, government agencies, and small businesses. For example, one foundation offers a small US business $50,000 in cash and pro bono services to relocate to St. Louis, Missouri. Eager to make St. Louis a hub in the tech-oriented economy, the grant is designed to attract start-ups in hardware, IT, bio-technology, and clean/green technology. Additionally, the grant is available to other industries, and has funded companies working in manufacturing, fashion, social ventures, and medical devices.
In addition to the cash award, the services offered include what new business needs to get off the ground: accounting, legal, marketing and design, communication, financial consulting, banking consulting and services, information technology consulting and web hosting, human resources, and payroll services.
Since its inception in 2012, 55 startups have received over $3 million to relocate to St. Louis. Recipients include a company producing an iPhone app allowing the user to receive and answer questions while delivering a lecture; a security company integrating the latest technology into their services; and helmet technology enabling athletes to monitor head impact and stay safe.