The St. Louis Regional Chamber is partnering with local venture capital firms and banks to offer $5 million in seed capital for startups to spur economic development.
Joe Reagan, the chamber’s president and CEO, announced the new Spirit of St. Louis Fund I at the chamber’s annual event Thursday night at Chaifetz Arena.
Reagan said entrepreneurs often faced a gap in resources that the seed capital will seek to fill. There’s money available for accelerators and funding for companies heading to market, but capital is lacking for early-stage businesses, according to the fund’s backers.
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