By Casey Nolen
ST. LOUIS (KSDK) - St. Louis continues to make news as an up and coming hub of high-tech startups.
And Thursday, regional leaders will announce a $100 million plan to help those companies succeed and stay in St. Louis.
The St. Louis County Economic Council estimates there are 75 to 100 companies in St. Louis that could soon see large scale success - if they can get the capital investment they need to grow.
The goal of the $100 million fund is to raise the money in the next five years and funnel it to local organizations that support and invest in St. Louis startups. Backers of the idea say local money means more successful start ups are more likely to stay in St. Louis.
"It's a big, gusty, bold move to say St. Louis is absolutely dedicated to funding the start-ups here and bringing new ones to town," said Katy Jamboretz with the St. Louis County Economic Council.
St. Louis Mayor Francis Slay and St. Louis County Executive Charlie Dooley will make the announcement together and the fund-raising will be lead by the St. Louis Regional Chamber.