I wonder whether groups like this hadn't ought to stop doing grant/investment programs like this. You can't just buy a startup community, at least not for any amount we've seen spent to date. It has to grow organically.
What seems likely to happen here is that adverse selection will allocate these grants to companies with poorer prospects than the total pool of startups, thus creating a track record of failure for the area.
Maybe a better approach would be to offer the grants to any startup nationwide, with the proviso that they employ N people in STL.
What seems likely to happen here is that adverse selection will allocate these grants to companies with poorer prospects than the total pool of startups, thus creating a track record of failure for the area.
Maybe a better approach would be to offer the grants to any startup nationwide, with the proviso that they employ N people in STL.